By Gunjan Goel
Pune, the second largest city of Maharashtra, is popularly known as the state’s cultural hub. It is currently a thriving metropolis and rising as a premier location for real estate investment. Most of the investors consider Pune as one of the most profitable and viable locations to invest in residential real estate.
Pune has always been Mumbai’s reasonable and affordable replacement. Pune’s housing market has shown consistent growth. The city has been named one of India’s most livable cities. Pune is the best place for property speculation because of its low property costs. Lesser expenses and cost moderation are the main reasons why people are now seeking a huge interest in Pune.
Pune has a calm and peaceful climate, top rated educational institutes and is the second largest IT Hub of the country. With excellent transportation that provides for seamless connectivity to any district of the city in almost no time, it makes one fall even more in love with the city. As the perimeters expanding exponentially, the development expectations for the upcoming new areas are significantly higher than those for the city’s focal point with well-planned infrastructure. Furthermore, the Pune housing business sector provides an exceptional opportunity to invest both in commercial and residential properties.
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Strategic location, developed social infrastructures such as schools, medical facilities, and leading retail avenues along with developed employment hubs with the presence of multinational companies are some of the key determinants for a city from a person’s perspective and there are only a few competitor cities on these parameters. All of these factors make Pune one of the most desirable cities to live in; and it has recently managed to attract NRIs too.
Reasons to invest in Pune Real Estate
Pune is still developing, so this is high time to invest when properties are still affordable so the return on your investment will only get multiplied over the years.
With a huge inflow of population to the city, rental values have increased, giving investors a steady rental income on their properties.
Over the last decade, the property values have increased giving all property buyers a huge return on their investments.
Rated as the happiest and most livable city in the country, moving to Pune can have wonderful health benefits given its pleasant climate and green footprint.
Pune, a less populous metropolis than other major ones, is today thriving in the IT and education sectors after gradually releasing its full economic potential.
There is currently a rise in the real estate prices in Pune, yet compared to most other metros the per square foot value is still extremely affordable and in a real sense truly a value for your money.
With the growing social infrastructure, Pune is buzzing with a good mix of schools, colleges, malls, restaurants and night life, making it a desired location for millennials to settle with their families.
Real estate has no insurmountable financial obstacles and is simple to finance, easy to purchase, offers tax benefits, improves lifestyle, and gives tax advantages. Real estate is still among the most preferred and stable investment avenues.
(The author is Director, Goel Ganga Developments. Views are personal.)