subject: In Year 2011 Pune Real Estate Enjoyed Stability And Consistency [print this page] Last year seemed pretty pleasing for Pune's residential real estate market as opposed to other major cities. Pune continued to have a relatively stable and consistent market. 2011 saw a growth oriented market in Pune's real estate. Heavy inquiries were witnessed from Pune-ites as well as from people wanting to invest in growing market of Residential property in Pune. Most buyers continued to be young professionals in service sectors like retail, FMCG, IT-ITes, Biotechnology and Automobiles. The city's potential as an educational, IT and industrial hub which makes Pune an ideal choice for investment in real estate market.
Pune being the second largest city in Maharashtra; here manufacturing industry features a number of international names which also resulted in the boom of the residential property market of Pune. As last year Pune enjoys an advantage of being a stable market with consistent demand coming from a number of strong and dependable business verticles.
Witnessing the huge growth last year in the retail sector with the launch of Inorbit Mall, Phoenix Market City and many more which positively impacted the residential Property in Pune as well. In Pune the rates of the residential property has saw a rise of 15-20 percent because of these retail development. The eastern and western belt of Pune saw huge demand all thanks to the launch of new residential property. Pune has the locality which has received great responce like Ravet, Wakad, Ambehaon, Warje, Kothrud, Bavdhan, Pashan due to the easy accessibility to Hinjewadi and proximity to Mumbai.
In Pune residential sector there is a great demand in township projects and gated communities has came into prominence. In 2011 Pune has seen some interesting trends in terms of residential market.The newer generation of real estate enterpreneurs, having fresh minds and global exposure, now have the reins of the industry. This has bought new concepts, innovations and an international touch to real estate projects in Pune.
The mid-income segment performed reasonably well as compared to the mid to high segment the luxury segment saw an upsurge in demand too. Commenting on the wide ranging housing trends observed during last year there was the huge demand for one bedroom as also luxury housing apartment.
Pune also saw a great demand in commercial space in 2011 which was an indicator of the real estate growth. Now Pune properties are making the growth along with prospects of excellent connectivity and educational facilities. The vast potential of the burgeoning segment i.e. Residential property in Pune is being realised and coming up as a major area of interest that is fast gaining momentum in Indian Real Estate.
