Pune is a popular city located in the state of Maharashtra. Second largest city in Maharashtra, it is also known to be the cultural capital of the state. Before the year 1999, the city had a dismal scenario in real estate, with low prices of residential and commercial areas. Post 1999, owing to increase in number of IT companies, and development, the city has seen a tremendous rise and growth in real properties.
Seeing an increasing trend in property developers are increasing the existing capacity to meet the future demand. It is expected that IT/ITES and BPO sector will consume 70-80 % of the total uptake of land. With more and more international companies, banks etc outsourcing their operations to India, Pune being the IT and outsourcing hub, is the hottest spot in Western India
Residential Real Estate The residential realty market in the city is on the rise. This rise in the sector began in the year 1999 and has been growing ever since. With the IT companies setting up base in the city, more and more executives are buring and renting homes. Colonies and locations like Aundh, Wanowrie, Nagar Road, Kondwa, etc have seen rising prices of land and built property in these years. The recessionary wave that had earlier gripped the residential real estate has been reversed, with prices rising owing to availability of home loans from various banks and financial institutions. Areas like Bavdhan, Kharadi, Mundhwa-Hadapsar, and parts of Kothrud are some of the most sought after areas with new projects being undertaken by leading developers in the country.
Residential Areas in Pune
|Balaji Nagar||Dhanukar Colony||Kondwa||Panchvati|
|Baramati||Erandwana||Mercy Nagar||Pandurang Colony|
|Bhusari Colony||Fatima Nagar||Mg Road||Salunke Vihar|
|Chandan Nagar||Hadapsar||Model Colony||Shivaji Nagar|
|Chinchwad||Kalyani Nagar||Mohan Nagar||Tanaji Nagar|
|Deccan||Karve Nagar||Nagar Road||Yerwada|
Commercial Real Estate: With the setting up of IT and other MNCs, the increasing working population, and changing lifestyle, there has been an increase in the commercial realty development by builders. Realty developers are undertaking commercial projects like malls, swanky complexes, multiplexes etc. The prices have spiraled high and developers are acquiring land to meet the increase in demand.
Industrial Real Estate: The city is also experiencing fast industrial growth rate and as a consequence the prices are also soaring with the rise in demand. The last 4-5 years have seen industrial property prices escalating more than 40- 50% . This is then the right time and a lucrative opportunity for international investors to put money in the city.
Key Industries Some of the important industries concentrated in the city are:Manufacturing Sector
Real Estate Development The city has immense potential offering growth in residential, commercial and industrial realty. With the development of apartments and condominiums targeted at NRIs, it is the best investment option for people in different parts of the world. Rapid development, proximity to Mumbai, influx of IT and outsourcing companies makes it the ideal realty investment city.