In recent years, Pune has been a hub of real estate activity. It has become a favourite haunt for investors and sellers, alike. The city has been quickly developing and spreading out with more and more areas, considered to be out of Pune, coming under the same jurisdiction. The rise of the IT and manufacturing industry has also fuelled this growth. This quick development has resulted in an exodus of people into the city, which has increased the demand for real estate and housing. Owners and landlords can easily find takers for their flats in most parts of the city.
Pune has always been known for the excellence of its education institutions with the University of Pune being referred to as the ‘Oxford of the East’. The various institutions all over the city offer every course imaginable and have attracted students from all over the country. This influx of students has resulted in an increase in the need for rentals and housing, especially in the main parts of the city and around all major institutions.
The rates in the city are also more reasonable compared to other cities like Mumbai and Bangalore. Investing in real estate in Pune is a very good idea because the rates are good and the area is developing. The returns are bound to be good because the value of real estate in the city is only going to go up. Even while buying a second home, Pune is where you should be looking because it is very easy to rent out as there are many students and employees from the IT and Manufacturing industries.