Under Smart Cities Mission, the Government of India announced 109 cities to be developed in a citizen friendly and sustainable way. One of which is Pune. The key objective of this ‘smart city mission’ is to build clean cities with a proper infrastructure that provides a decent quality of life to its citizens. Projects such as water recycling, waste management, rain water harvesting, solar power, smart metering and digitization will be undertaken under this initiative.
These projects will benefit both the city as well as its residing citizens. As a result of Smart City development, Pune is sure to become an Investor’s paradise as real estate prices are speculated to rise. The real estate developers will launch various residential projects modifying their offerings as per the changing style and demands.
Why Invest in Pune?
Pune – the home to the second largest university of India (University of Pune) is referred to as ‘The Oxford of the East’. It has been a center of learning and education for generations. Apart from being an educational hub, it’s Cultural Heritage, Pleasant Climate, Abundance of Natural Resources and Greenery, Healthcare facilities, Entertainment Arenas, Employment Opportunities etc all these factors combine to make it the best city to invest in real estate.
No doubt, the proposed Smart City plan has given a very positive boom to its Real Estate Market. Being the second largest city in Maharashtra after Mumbai, Pune has turned to be the aspired destination for owning a residential asset and has attracted investors to its real estate.
Following points clearly show why Pune is becoming the Paradise For Real Estate Investors?
- Pune headquarters many renowned IT, Automobile, Engineering, Pharmaceuticals, Floriculture, Manufacturing and service based industries. In addition, it has also bagged many foreign direct investments under ‘Make in India’ mission giving rise to a lot of employment opportunities.
- These employment opportunities have lured mass migration of jobseekers in Pune, giving rise to the demand for contemporary residences either for purchasing or renting out.
- Infrastructural Prominence: Wide roads, easy connectivity, BRTs and proposed infrastructural enhancements like metro rail, international airport and ring roads have also boosted the real estate development.
- A break from fast and stressful lives of Metros: Pune with its soothing weather, convenient and easily connected infrastructure promotes an easy way of life. That is why Pune properties are on high demand as people who migrate in the city for job purpose, end up shifting their base in the city.
- High ROI (Return of Investment): With development in every sector, the city promises massive investment return. Ultra-modern apartments are sprinkled throughout the city and growing demand of suburbs to accommodate the populace is on high priority.
- Fewer fluctuations: Property market in Pune has maintained a constant upward trajectory regardless of any economic influences as compared to any other Indian city. So investors who are averse to risk prefer Pune over any other city.
- Township Culture: With a lot of integrated township projects already executed/in pipeline, Pune is turning into the ‘Township Capital of India’. These townships are self-supporting and self-sufficient in terms of social and civic infrastructure thus providing an ideal solution to up-market property buyers.
All the above factors are paving way for Pune’s real estate market to boom, expand and receive a convincing attention and expectation of investors. The city is sure to match its extravagance with top metros of the country pretty soon.
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