Here’s good news for all Punekars. Our city has been recognized as the most preferred real estate investment destination and the most affordable Metro City. This finding was presented in the CRE Matrix Report released by CREDAI Pune Metro recently.
Ranjit Naiknavare, president of the CREDAI Pune Metro stated, “Pune is now India’s most affordable and fastest growing real estate market among all metro cities in terms of number of units sold in the period January-June 2023. The Pune Housing Market in H1-2023 (Primary excluding Re-Sales) has clocked sales of over 45,000 units worth over Rs 28,000 crore. This is a 90 percent growth over the first half of the calendar year, meaning Pune’s real estate market has done phenomenally well in the last four years.”
There are numerous factors responsible for Pune’s growth as the most affordable and preferred metro city in the country. These include:
Affordability
Pune has something to offer for every budget. Right from budget homes to premium mansions, the city’s real estate has offerings for every pocket size.
This diversity has propelled Pune’s real estate market to new heights. In contrast to other major metropolitans, the city has gained a commendable reputation as an attractive destination for both first-time homebuyers and seasoned investors seeking value-driven opportunities.
Connectivity
The city boasts well-planned infrastructure, including the development of Pune Metro, ring roads, fly-overs and improved connectivity with Mumbai through the Mumbai-Pune Expressway. These have enhanced accessibility and connectivity within the city and outside. The infrastructure development has opened up new growth corridors and increased the value of properties.
Educational Institutions
Pune is the Oxford of the East. It is home to some of the oldest and most reputed universities and educational institutions in India. They attract a substantial student population, including not just local students, but also students from different parts of India and abroad. The presence of educational institutions has led to the development of student-centric infrastructure, affordable housing options, coaching centres, and recreational facilities.
Employment Opportunities
Pune has grown as one of the most prominent IT and manufacturing hubs in the country. The city’s reputation as a technology and innovation centre further bolsters employment opportunities in the IT industry here.
The steady growth of employment opportunities has stimulated demand for residential and commercial properties in Pune. It has resulted in the development of integrated townships and commercial complexes in areas like Hinjawadi, Magarpatta City, Kharadi, and Hadapsar to accommodate the needs of a growing workforce.
Quality of Life and Amenities
Pune offers a variety of amenities and facilities, which have contributed to the growth of real estate in the city. The presence of shopping malls, entertainment centres, and recreational facilities, and the connectivity to getaways like Lonavala, Mahabaleshwar, Mulshi have further added to the city’s allure. These factors further contribute to a higher standard of living, attracting buyers who seek a holistic living experience.
The flourishing market of Pune has captured the interest of local investors, and attracted national and international players seeking lucrative opportunities. A pleasant weather all-year round, proximity to Mumbai, a thriving IT sector, an impressive real estate profile and a plethora of urban amenities; these make Pune stand apart from the rest of cities in India.
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