Cost of residential properties in Pune has increased
Costs of houses in Pune are on the rise. They have gone up 16 per cent in the first three months of the current year when compared to the corresponding period of last year.
According to a study it is noticed that property prices in Pune region have escalated, reflecting the overall sentiment of the sector.
Localities like Baner, Hinjewadi and Kothrud have seen a maximum price appreciation with prices moving up by 30 %, 23 % and 22 % respectively in the first quarter of 2012.
Most other localities in Pune saw a price rise between 13 % and 18 % while BT Kawade Road, Chinchwad, Kondhwa and Koregaon Park saw prices move up by 8 per cent in the first quarter of 2012.
Pune has been a preferred investment destination for several MNCs for decades owing to its vast pool of engineering and management talent.
The influx of IT has led to a high residential demand in and around Hinjewadi and Wakad. Professionals and students both look to this region for renting and buying.
There has been a 12-15 % rise in residential property prices at most locations in Pune. Increased input costs being incurred by developers and the continued health of demand from end users and investors.
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Source: Times of India
