Known as the cultural capital of Maharashtra, Pune is rapidly developing into the commercial IT hub of India. Thanks to the swift expansion of multinational IT companies and world-class educational institutions, the real estate industry in Pune has shown an impressive upward surge and is giving favorable returns to investors. High ROI, coupled with a myriad of Residential Property options available at affordable rates, magnetizes property buyers from all over the country as well as abroad to invest in Pune real estate.
If you are planning to buy a residential flat in Pune but are new to the norms of the city, here’s all you need to know.
Pune Real Estate Market – What the City Has to Offer?
Pune is the second-largest city in Maharashtra, and an important industrial and economic hub. Every year, thousands of aspirants move into the city to fulfill their career aspirations and make a living. Rapid urbanization has led to an increase in the demand for residential properties in the city, and to cater to the needs of its varied population, the real estate developers such as Canninghill Square River Valley have come up with a vast variety of housing projects that offer world-class amenities and advanced facilities.
So, whether you want to buy a new residential flat in Pune, purchase a property on sale, or are simply looking for a house on rent in Pune, you can rest assured that with unlimited options available, you’ll only be spoilt for choices.
Not just that, even in the changing market scenarios, the real estate market in Pune has not lost its glory and is continuously offering an amazing return on investment to home buyers.
“From expanding metro work to world-class amenities and ease of living, Pune has something to offer to everyone. The establishment of IT parks and multinational companies has further fueled the growth of the real estate sector in the city. Pune offers myriad options to home buyers at an amazing price point.”
Best Areas to Buy Residential Property in Pune :
Depending on the type of property you need and the price you can afford, there are a number of investor-friendly areas in Pune. But choosing the right area and locality of residence can be a daunting task, especially if you are a newcomer to the city. To help you make a wise decision, here’s a quick round-up on all the best selling areas of Pune:
Hinjewadi: One of the most prominent locations in Pune, Hinjewadi is a favorite locale among mid-budget home buyers. However, there are various options in the luxury segment too, developed by prominent real estate developers. At close proximity to Hinjewadi IT Park, these residential apartments promise good value for money and a heavy return on investment.
Koregaon Park: Another popular area for buying residential property in Pune, Koregaon has many high-rise apartments available at an affordable price range and offers healthy price appreciation to investors.
Wakad: Located at National Highway 4 Bypass, Wakad is a cost-effective option for people who come into the city to work in the nearby IT cluster. The area offers good connectivity, booming infrastructure, and good growth prospects.
Wagholi: Wagholi is the best performing area in Pune in terms of the real estate sale and purchase. Being a prominent location, the housing projects in Wagholi offer a perfect blend of convenience, comfort, and style.
Kharadi: Explore this area if you wish to make a commercial real estate investment in Pune. With an amazing lineup of commercial spaces, offices, shops, and more, Kharadi is a good option from an investment point of view.
Viman Nagar: From lavish apartments to world-class automated homes, Viman Nagar has everything you want in your dream house. Strategically located, the area offers great connectivity to most of the popular spots across the city.
Aundh: Located in close proximity to Hinjewadi IT Park, the area enjoys huge popularity due to commercial real estate development. The area has also witnessed a steady increase in the price in the past few years.
Things to remember while purchasing a property in Pune:
Whether you are a beginner or an aced investor, here are a few things to remember to prevent your investment from turning into a nightmare:
- Always invest in a property that’s RERA-approved.
- Thoroughly check all the legal aspects of the property and clearance of titles.
- Do proper research on the prevalent market rates and how the prices will change in the years to come to ascertain the return on investment.
- Check the infrastructure of the property to ascertain if the apartment meets your needs.
- Find out your home loan eligibility criteria and improve your credit score.
- Partner with a reliable real estate agent to ensure you get the best deal at an amazing price point.
For end-to-end support and professional assistance for buying a property in Pune, visit addressofchoice.com.
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