Pune has experienced an alarming boost in the realty market. It was once a residential haven to lead a peaceful life post-retirement. However, the city has successfully enrolled its name under the most resourceful destination, with respect to the employment opportunity, in recent times. The demographic upsurge of the city owes the credibility to the establishment of IT/ITES and MIDC’s all over. The industrial developments have welcomed several enthusiast job hunters to flock in the city. Additionally, the educational opportunity offered at the city has also embraced considerable student’s inflow from all part of the world.
To accommodate the increased census, realty infrastructure of Pune has been upgraded significantly. The pleasant climate and serene ambience of the city amidst its bustling existence has allured several migrates to permanently shift their base in Pune. The city has relished a makeover in real estate plan. The entire city has been reframed with luxurious homes and modern infrastructural aesthetics. The residential accommodations in Pune are systematically structured in and around the superlative workplaces. The trendy conglomeration of Pune properties has enticed all inquisitive prospect buyers with ample variations of flats.
According to a study, the realty development in west and east Pune has been considerable, as compared to the central northern and southern periphery of the city. The scenario is due to the IT/ITES workplaces more concentrated in the western and eastern locales of the city, whereas there is a limited scope in land development or modern residential construction in the central prime locales of the city. As per the experts, Pune is surely going to get a major facelift in its realty infrastructure. However, the city has stretched its periphery to an extended limit, to accommodate the soaring population of the city. Pune has gained affirmative response in terms of real estate business from NRI’s. Moreover, abodes in Pune have served as the source of rental income for many.
The rising demand of residential properties in Pune has motivated several builders to structure their contemporary abodes satisfying the modern residential needs of the potential buyers. The IT professionals prefer the places adjacent to the IT workplaces, whereas the industrial workforce tends to concentrate at the adjacency of their workplaces. The enticing parameter of “walk to work”, for any residential investment has motivated maximum footfall for locales that has workplaces in its vicinity. To meet the rising demand of residences in the city, several eminent realtors have started their constructional venture in the city. The majestic apartments in Pune are thus meticulously crafted to meet the ultra-modern desire.
Thus, the realtors have more concentrated on areas like, Baner, Pashan, Aundh, Wakad, Pimple Saudagar, Pimple Nilakh and Balewadi close to Hinjewadi IT Park in the west. Additionally, the areas like kharadi, Mumdhwa, Keshav Nagar, Magarpatta City, Wagholi, Hadapsar, Viman Nagar have allured the professionals from Magarpatta IT Park and SP Infocity. Whereas, areas like Moshi, Chakan Charoli, Talegaon, Bhosari, Ranjangaon, Shikhrapur, Loni relishes the residential preference of the adjoining MIDC’s. The areas like Kothrud, Kalyani Nagar, Koregaon Park, NIBM Road, Undri and many others are posh residential areas for the mass with its never ending charm.
According to a latest survey, the residential realty demand of Pune has experienced a steep rise of approximately 46000 in the present year as compared to the 20000 15 years ago. The city has been targeted by foreign and national conglomerates making scope for employment. Coupled with the upgraded civic infrastructure and apt urban resources, thus the lavish flats in Pune are about to gain a preference that summarizes the positive effect on the realty turnover of the city in current and upcoming years.