Investing in Pune’s Real Estate Is Still Affordable
Pune is known for its dynamic realty market which attracts people from various economical brackets to invest. The real estate sector has been experiencing good stability from quite a long time. But with increasing demands for property in Pune, the prices are rising in most areas within the city. So now the focus is shifting towards the outskirts which offers vacant land pockets at cheaper rates.
Sumit Jain, the co-founder and CEO of CommonFloor.com says that the market of Pune is affordable and largely concentrated along the peripheries of the city, with the prices for houses ranging between Rs 3,500 to Rs 4,500 per sq ft, the size of which are between 600 sq ft to 800 sq ft.
Pune is a host to the country’s major automotive industry with companies like General Motors, Skoda, Volkswagen, Tata Motors, Land Rover, Mahindra and Mahindra, and Mercedes Benz. Apart from that Pune also houses major IT industries. This means there is a class involved which can afford real good apartments and a class which requires affordable basic housing. This has ensured a good mix of available housing projects.
Pune has projects at cheaper rates but no amenities, as well as those with all basic amenities but are slightly higher priced. The improvement in connectivity and growth of infrastructure in this city has boosted the real estate growth significantly. There is more potential for people to invest in property here now than ever.
Source: Magicbricks
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