Known as the cultural capital of Maharashtra, Pune is rapidly developing into the commercial IT hub of India. It is only natural that corporate employees there (or aspiring ones) are on the lookout for great residential property!
‘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 favourable 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 fulfil 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.”
11 Best Areas to Buy Residential Property in Pune
Depending on the type of property you need and the price you can afford, there are aseveralinvestor-friendly areas in Pune. However 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 of all the best-selling areas of Pune:
Hinjewadi:
One of the most prominent locations in Pune, Hinjewadi is a favourite 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 atthe 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 real estate sales andpurchasese. 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 ie prices in the past few years.
Punewale:
An emerging area just 10 minutes away from Hinjewadi, is a quieter alternative. This area is the best to buy a residential property due to its easy access to its hubs and the industrial belt of Pune. The area is known for its spacious yet affordable residential options ideal for those looking for long-term investment potential.
Dhanori:
This up-and-coming area for residential property is excellent for those looking to access employment hubs such as Yerwada or Viman Nagar. This area is located near Pune airport and offers affordable housing that boasts a growing infrastructure.
This area is great for investors and home buyers alike.
Wadgaon Sheri
Located near Viman Nagar and Kalyani Nagar, Wadgaon Sheri is an emerging area with strong infrastructure. This area has foldable residential property in comparison to nearby areas. It is a well-connected area to its hubs such as EON IT park and Magarpatta.
The area is also well connected to schools hospitalsl, shopping centres and public transportation. The area is ideal for those looking for a blend of commercial and residential appeal especially with the nearby Pune junction railway station and Pune airport enhancing the connectivity.
Kalyani Nagar
Known for a mix of residential and commercial spaces Kalyani Nagar appeals to both families and professionals. This area offers affordable quality residential properties with easy access to employment hubs such as Cerebrum IT Park and Cyber City Magarpatta. The upcoming metro line will improve connectivity even further making it a future-proof investment choice in Pune.
Things to Remember When 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.
End Note
If you are seeking homes with a balance of community, future growth potential and connectivity in the real estate market These areas are some of the best investment options. You will if you are not interested in long-term investment in real estate (you should be) These areas are great for corporate employees looking for cost savings.
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