West Pune real estate observes growing demand for large apartments
Pune: Areas located in western periphery of Pune such as Aundh, Baner, Hinjewadi, Wakad, etc have been witnessing an ever increasing demand for houses with an area of over 1800 sq ft.
It seems that buyers in Pune have decided to live in bigger homes. Besides local buyers, the city is observing huge demand by buyers from Mumbai and NRIs. A realtor explained that since Pune is directly connected to Mumbai through the Mumbai-Bangalore Highway, Mumbai buyers prefer buying a house here as they get a larger home at a much lower rate as compared to Mumbai.
More than the local buyers, the demand is driven by the short and long-term investors from Mumbai, Delhi and NRIs looking for good investment options.
Nearly 40 percent of this demand is coming from NRIs looking for an abode in India. Second home buyers from metro cities are also showing interest, said another developer. He said that buyers have become increasingly aware about the built-up area and the actual usable area of the apartment. They demand for more carpet area now. In the last few years, this trend tends to be improving.
Earlier, the demand was more concentrated towards residential properties in Pune with an area of 1000-1500 sq ft. But now the demand has shifted towards bigger housing units with an area of around 1800-2700 sq ft.
Focussing on this demand, developers are coming up with projects offering larger residential units. Recently, Pride and Purple Group has been launching projects that offer units having an area of 1500-5000 sq ft. Many other developers have also followed the trend and have started constructing larger units. These include Marvel Realtors, Bramha Builders, Clover Builders, Goel Ganga Group, etc. Till now, they had been aiming towards 1 and 2 BHK apartments. Now, they have started developing 3 BHK units to cater to the growing demand. 4 BHK apartments have been seeing rising demand in the recent days.
Projects in West Pune offering larger housing units are meant to meet the demand of those who aspire to live in spacious houses with ample open spaces and also offer better returns to investors.
Click here for related forum discussion
Related Real Estate News:
New road projects coming up in Assam, Madhya Pradesh
Panels to replace brick walls, reduce construction time
Realtors develop smaller apartments to drive house sales
Aundh, Baner, Bramha Builders, buyers from Mumbai, Clover Builders, Goel Ganga Group, Hinjewadi, housing units in Pune, investment options in pune, Large apartments, larger housing units, larger residential units, Marvel Realtors, Mumbai Bangalore highway, Open spaces, Pride and Purple Group, Projects in West Pune, Pune Real Estate, residential properties in Pune, Second-home buyers, Wakad, West Pune real estate
