Investment Destination..!
by Mr. Arvind Jain, Pride Group
There are many excellent reasons why more & more property
investors are now focusing on Pune. This city, nestled between the Sahyadri
mountain ranges & renowned for its excellent climate, no longer depends on
its proximity to Mumbai in any respect.
Job
generation..!
Pune is now home to large corporates that have no linkages to
Mumbai whatsoever; its perfect blend of its manufacturing and services sectors
and the rate of job generation happening here make Pune a standalone economic
powerhouse.
The Pune city’s internationally reputed educational institutes
attract young talent from all corners of India, providing Pune with a steady
stream of new talent.
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| Mr. Arvind Jain, Pride Group |
Pensioner’s Paradise..!
Pune also continues to be one of India's most preferred
retirement destination, though it can by no stretch of imagination be called a
mere ‘Pensioner’s Paradise’ anymore.
In fact, Pune has evolved into a leading hub for ultra-modern
senior living complexes which have taken its standing as a retirement haven to
a whole new level. Even so, the youthful element that really drives the city is
hard to miss.
The primary drivers for Pune’s residential real estate market are its IT/ITeS and manufacturing sectors. In fact, Pune is rated among the top five Indian cities for employment generation and potential.
The primary drivers for Pune’s residential real estate market are its IT/ITeS and manufacturing sectors. In fact, Pune is rated among the top five Indian cities for employment generation and potential.
Social
& physical infrastructure…!
The city is rapidly ramping up on social and physical
infrastructure, and its social fabric is distinctly cosmopolitan. Pune now
directly competes with Bangalore, Hyderabad, Chennai and Gurgaon when it comes
to attracting prominent corporates.
The demand for homes comes largely from employees working in its IT/ITeS and manufacturing industries. These dual economic drivers give Pune’s residential property market an edge over cities which no not have such well-diversified demand.
The growing demand for homes in Pune has led to rapid expansion of its city boundaries. Not surprisingly, the central parts of the city have more or less exhausted their development potential.
The demand for homes comes largely from employees working in its IT/ITeS and manufacturing industries. These dual economic drivers give Pune’s residential property market an edge over cities which no not have such well-diversified demand.
The growing demand for homes in Pune has led to rapid expansion of its city boundaries. Not surprisingly, the central parts of the city have more or less exhausted their development potential.
New
investment hotbeds..!
As a result, Pune peripheral suburbs and newly emerging markets
are the new investment hot beds, drawing considerable interest from residential
property investors, who are drawn by the stable nature of this market as well
as the fact that property valuations are showing very healthy growth.
This is, in fact, a very important consideration for property investors. Pune’s property market is not given to the kind of fluctuations that are visible in many other Indian cities, and maintain a constant upward trajectory regardless of larger economic considerations and influences. Property investors who are averse to risk choose Pune for precisely this reason.
The highest demand for homes in Pune is for properties priced in the budget range of Rs. 35 lakh to 80 lakh, which draw the bulk of absorption from the middle class.
This is, in fact, a very important consideration for property investors. Pune’s property market is not given to the kind of fluctuations that are visible in many other Indian cities, and maintain a constant upward trajectory regardless of larger economic considerations and influences. Property investors who are averse to risk choose Pune for precisely this reason.
The highest demand for homes in Pune is for properties priced in the budget range of Rs. 35 lakh to 80 lakh, which draw the bulk of absorption from the middle class.
However, there is also robust demand for premium offerings
priced Rs. 1.5 crore and above coming from HNI buyers and investors. In fact,
Pune is well-known for its high grade of luxury and ultra-luxury housing
offerings.
15
integrated township projects..!
Pune is also rapidly turning into the Township Capital of India. With about than 15 integrated township projects of various sizes executed or in the supply pipeline, Pune is the only Indian city with a well-defined integrated township culture.
This is because home buyers in Pune are very receptive to
innovative residential property solutions that allow them to live a more
comfortable lifestyle. Because integrated townships are self-sufficient and
self-supporting in terms of civic and social infrastructure, they offer the
ideal solution to up-market property buyers.
Townships are excellent investment options because they attract
a high profile of end users and see the highest appreciation rates in a city
where superior lifestyle quotient is a primary draw.
Demand for houses..!
Overall, Pune’s residential market is looking forward to even healthier growth in the future.
The city’s road network is being enhanced with infrastructural
projects such as 170 km long Ring Road, and a number of malls are being
launched in the eastern and the western parts of the city.
These factors will
not boost the city’s social and entertainment quotient in the peripheral regions
and consequently drive up the demand for homes there.
About
The Author:
Me. Arvind Jain is Managing Director of The
Pride Group ,
a world-class property development conglomerate that is changing the cityscapes
of Pune, Mumbai and Bangalore.
Established in 1996, Pride Group has built and
delivered over 10 million square feet of constructed area. Pride Group has
recently launched Pride
World City ,
the 400-acre luxury mega-township at Charoli, Pune.
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Jay Kalghatgi
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