In the last year or so, Pune has quickly emerged as one of the best cities for investment in terms of real estate. The rapid development industrially and in terms of the IT and manufacturing sector has boosted real estate construction and availability, both residential and commercial. The establishment of the city as a centre of learning and education is another major factor in the rise of the real estate sector in the city.
Investing in real estate is always a good idea. Investing in real estate in Pune, however is an even better idea. Here’s why:
1. Rate of Appreciation: In the suburbs and the newly developing outskirts of the city, the ROI is increasing. Even if it drops in the city, the nature of real estate is such that it evens itself out over time. Owning real estate in Pune is sure to give you rich rewards.
2. Educational Centre: Pune has been long established as a centre of education and learning, attracting students from all over the country. This increases the need for rentals and is perfect for those investing in a second home or investing for long term gains.
3. Employment: The rise of the IT sector as well as the manufacturing and industrial sector has caused an exodus of people into the city for jobs. In the same way as the above point, it is a boost for real estate in areas like Hinjewadi, Kharadi, etc.
4. Developing Infrastructure : Pune as a whole has had rapid development over the last few years, especially in the suburbs like Baner and Aundh. This increase in commercial spaces and malls has made the city more attractive to outside buyers and has made the city a good investment choice.
5. Affordable residential spaces: Pune is still a developing city. It has not yet reached the size, development or status of other major metropolises. This makes the rates of real estate more reasonable and affordable for the average middle class Indian. This is true about both renting and buying.