Popularly known as Mumbai’s affordable cousin, Pune has seen a substantial change in realty market.
Investors and homebuyers are at an advantage at this time period. Due to factors like jobs, infrastructure and housing, the prices of properties are on a rise. The Maharashtra Real Estate Regulatory Authority (MahaRera) and the Goods and Services Tax (GST) have been crucial aspects to change the real estate trends in Pune.
Having one’s own home today is a thing of pride and people are looking forward to invest in realty more than ever. MahaRera has benefitted both developers and buyers. Developers have gained the trust of the customers and the customers have the assurance of their money. Home buyers can cash on this opportunity as real estate trends in Pune show a promising picture. Pune is one of the top ten most populated cities in India. It is one of the fastest growing cities in the Asia-Pacific region. The average lifestyle of a resident in Pune is better than most of the cities in the country.
The city has been a host to evolving business sectors, automotive companies and most importantly the IT Sector. Not to forget the emerging start-ups in Pune that have made it a lucrative place to live as well as invest. Pune has emerged as the next realty destination for several reasons. Considering the GDP contribution Pune stands second highest in Maharashtra after Mumbai.
One of the most apparent real estate trends in Pune is its growing economy. The major sectors that contribute to these factors are education, culture, manufacturing and tourism. The city churns out major portion of the graduate workforce further triggering the IT revolution here. More or less every top IT company has its presence in Pune. Apart from being one of the biggest software hubs it also has a strong industrial and manufacturing base. This is growing day-by-day and has become a game changer in real estate trends in Pune.
Pune has achieved maximum progress in projects launched under the smart cities mission. PMC is the only municipality to have raised Rs 200 crore via bond issue. The city recently set up a Command and Control Centre to monitor over 2,000 buses.
The suburban areas are integrated into the city. Higher loan component upto (90 percent) while buying a house is also a major change. The rising competition is also one of the reasons for these changes in real estate trends in Pune. With such positive changes buying a property sure seems a great idea!
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