Pune has witnessed a spurt in real estate demand over the last few years, with buyers and investors showing a keen interest. Even with Mumbai, India’s highest growing residential market, nearby, Pune has a steady demand for real estate. It is probably because the city has properties that offer value for money, unlike Mumbai, where space is at a premium and prices are sky-rocketing. In Pune, plush properties in high-end localities too can fit within your budget, making your investment an excellent one.
So, if you are planning to invest in property this year, take a look at why it’s worth shifting your sights to Pune.
Here is why you should buy property in Pune
Booming real estate development: There are more than 60,246 ready flats available in Pune at the moment and about 9,150 under-construction flats. Moreover, owing to impeccable infrastructure development in prominent areas in Pune, the average capital value (CV) has appreciated in the past few years. In addition to this, the balanced demand and supply chain has given the CV a boost. Another aspect that works in Pune’s favour is its inclusion in the 100 Smart Cities programme, which has attracted prominent developers and has led them to launch plush real estate projects in the city.
Homes for every budget with excellent infrastructure
Rohan Abhilasha in Wagholi, 7 Plumeria Drive in Tathawade, Kalpataru Jade in Baner, and Avon Vista in Balewadi are properties that draw attention from investors. While localities like Balewadi offer premium homes owing to the well-developed infrastructure of the locality, areas towards the outskirts like Wagholi and Tathawade are good budget picks.
In case you are looking to buy property solely for investment purposes within a budget of Rs. 61 to Rs. 71 lakh, you will have over 3,000 property options to choose from areas like Hinjewadi, Baner, Kothrud, and Kharadi. With IT companies setting up shops in these areas, the demand for rental accommodation is witnessing a surge. If you want to commit to a lower budget of Rs. 51 to Rs. 61 lakh, you still have around 3,553 apartment options to choose from.
Irrespective of the area or the project you choose, most housing societies will offer a list of amenities to you that typically include a clubhouse, kid’s play area, open garden, swimming pool, and high-level security. What’s more, with Pune experiencing rapid development, social and civic amenities like hospitals, schools, and entertainment hubs are a stone’s throw away.
Price appreciation in key localities
Areas like Wagholi have experienced a 13% increase in per sq. ft. price in 2018 with homes available in the range of Rs. 2,721–Rs. 38,235 per sq. ft. One of the other popular areas in Pune, Koregaon Park, has recorded a 50.3% rise in property price last year, with Kharadi following closely at 47.6%.
These increases show a rise in demand for properties in Pune show how certain neighborhoods are drawing more attention compared to the others, establishing themselves as residential areas. In turn, as more and more people choose to settle down in these localities. By making a smart investment now, you too can enjoy the returns from an excellent appreciation of property value in the years to come.
Keeping these statistics in mind, invest in property in Pune confidently. Bajaj Finserv Homes Loans always welcomes you if you have any doubts. This attractive financial solution provides you up to Rs. 15 Crore* as a housing loan for a flexible tenor, and you can make pre-payments on your loan without paying anything extra.
Moreover, you can narrow down on a property faster than you can imagine, thanks to the property search and in-person site visit assistance that Bajaj Finserv provides. With minimal documentation, signing up for the loan is quick and easy too. By simply entering your basic contact details, you can check your pre-approved offer and get access to instant approval and customised deals.
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