Why Buy a Residential Property in Pune
Real Estate in India has been growing consistently every year. Real Estate is a major factor to our national economy and contributes almost 5% to our Gross Domestic Product. The main reason for the prosperity of real estate in India is due to the increasing urbanization and establishments of many Multinational Companies. Indian Real Estate is indeed a flourishing field but it is Pune which proves to be a stable real estate investment and also provides better returns. But why does this situation exist? What factors add up to make Pune the real estate hub of India? We give you some important factors which makes real estate in Pune a hot and happening investment!
Increasing Market Value: Market Value for Pune real estate is increasing every day and the consistent increase clearly signifies that the real estate market is booming and would be a wise choice to invest in it. It is estimated that residential real estate market value is expected to raise 7-10% YoY (Year over Year)!
Lower Depreciation: For the past five years, property value has been rising steadily and considerably and there was not any phase of depreciation. Experts also claim that there would be no signs of depreciation even in the coming years making Pune a hot spot for real estate investment.
Realistic Prices: When compared to other major cities in India such as Mumbai and Delhi, property prices in Pune are more affordable and worth the price. This is one of the compelling factors that drive the real estate business forward in Pune!
RBI’s Mandate to Soften Interest Rates: The Reserve Bank of India issued a mandate earlier this year that all interest rates should be cut down by 0.25%. This mandate further increased the demand of housing and Pune’s real estate started to flourish once again. If you are wondering about the right time to invest, this would be it.
Steady Increase of Property Value: The main factor which drives investors for investing in real estate is the huge capital appreciation that they would benefit from. Pune’s property value is increasing steadily and surely, where investors are expected to get an increased value of their property some years down the road.
Consumers are end users: The consumers who invest in real estate in Pune are mostly end users, who make up for 75% of users! There might be a lot of middlemen between a product and an end user but in Pune, end users are predominant in buying properties, making this a major reason for the realistic real estate prices in Pune. This situation has kept the price/sq. ft. stable and the property prices do not experience any unnatural spike.
Increase in the trend of Renting Homes: Pune’s need for housing is at an all-time high as it is slowly becoming the melting pot of cultures. Most of the workers are not interested in buying properties since they are not sure as to how long they would be staying and so they rent houses. Renting houses would provide you monetary returns every month and would put your invested property in good use.
Better Returns for Investment: Steady increase of value, no sudden depreciation and no depression phase makes Pune the perfect place for investing in real estate. Month after month, houses and lands are booked just for the sake of investing and this has bumped Pune to the top of the list. A lot of demand for investment has created a suitable and growing real estate market. A considerable amount of these investors are NRI who grew up in Pune!
High Employment Opportunities: Pune has a high rate of employment mainly due to the establishment of many Multi-National Companies. Companies prefer Pune because it is recognized as an official English-speaking work zone. A lot of employees are also recruited from various other cities which results in an increase of the number of the persons migrating to Pune every year. This has led to the need of housing in Pune which in turn increases the real estate value!
Well Established Roadways and Public Transit System: Buyers are usually skeptical of investing in places that are isolated and where public transportation is not well established. But Pune boasts of an excellent road way and of an efficient public transportation which includes buses and local trains. Since the entirety of Pune is well connected, investors are provided with a lot of options.
IT Sector: The IT Sector has benefited Pune’s real estate market in two ways, by creating employment opportunities, in turn increasing the need for housing. It has also increased the value of property near their office establishments making a lot of previously unexplored property site into hot real estate sites. This has contributed to the increase in real estate market growth in Pune to a large extent. Buying a property near an IT establishment would automatically increase the market value of the property!
Options for all Budgets: Pune real estate provides numerous options for consumers across various budgets. Gone are the days when only NRIs, IT Professionals and foreign nationals can invest in properties at Pune. Investors are provided various options over various budgets making real estate investment in Pune a lucrative choice. The area where the property is located and the configuration of the property greatly influences the property price!
Shopping and Recreational Centers: Shopping and recreational centers are aplenty in Pune. Almost every street in every area would have some sort of shopping or recreational center. Food joints are also available in plenty. KFCs and McDonald’s are found at every nook and corner of the city. Places near malls and shopping centers have higher property rates and investing over here would multiply your capital value by a large percentage!
Education and Health Care Facilities: Pune was ranked the best place for education in India by India Today and educational establishments are cropping up every day. If you are investing in properties and want your son or daughter to go to the best schools, invest at Pune. Healthcare establishments at Pune are also state of the art and advanced and can handle any emergencies. The educational and health care establishments are strong reasons for investors to invest real estate at Pune.
Pune is Safe: The Female Security Index for Pune is on the higher side and much higher than the other metros in India. Pune won the overall rankings for the best city according to India Today and was also ranked by it as the best city for education in India. Crimes against women are lower than the other metros in India, making it a safe bet for investors from other cities or countries!
Investing in real estate at Pune is guaranteed to provide you better capital appreciation and the properties can be bought at affordable rates. If you are interested in investing in properties and want your money to be put into good use, and invest now as there is no better time than, now!