Pune Real estate has gone through a drastic change from the over highs to relative slow down. Regulations and economic factors have contributed to the slow-down bringing the prices of real estate to halt. If you’re an entrepreneur who has dealt with such a situation then it might be an opportunity for investment or second home because â€� Buying low and selling highâ€� is now the tone in real estate.
So here are some major cities which would see economic growth in next 5 years- Pune, Hyderabad, Nodia, Gurugram, and Kolkata. Out of these Pune has seen the maximum revival in real estate price and became a prime location for investment. Here are certain factors contributing to the revival of Pune Real Estate.
There are many real estate projects currently which are coming up in Pune. The prominent projects are coming in regions- Hadapsar, Wagholi, Hinjewadi, Kharadi, Aundh, Baner, Balewadi and Talegaon. All the regions have good connectivity with other parts of the city. Before you even think of buying a property you should consider the following growth components.
Many of the regions in Pune are well connected to major industrial city hubs through roads. The locations like Hadapsar, Wagholi, and Talegaon fall in the close vicinity of Industrial city hubs. Location growth helps in evaluating any property depending on its current market price and how the property would become a hotspot in the next few years. When you think about property as an investment option location growth helps you in getting the evaluation right before making any type of commitment. On an average region like Hadapsar, Wagholi and Talegaon have seen an increase in property rates by 20 percent per year depending on the project.
Infrastructure will include transportation, educational institutions- schools and colleges, water supply, parking space, and basic amenities. Infrastructure helps to value a property at price range which can fit your pocket. It also gives you an overview of whether the property is over-valued or under-valued. Talegaon and Hadapsar are the regions in Pune which have kept up with the growing population in the region. Infrastructure will help in building sustainability in your property investment.
Crime Rates in the region will give you a clear understanding is it safe to live. The crime rate of any region gives an overview of how well the local government body can manage the region and standard of living. The crime rate in Pune has been quite localized to regions which have low literacy rate or the standard of living is low.
One reason Pune has become one hot location for many investors is the green cover. Talegaon and Hinjewadi offer you a great view at the reasonable price range. Many properties today come inclusive with gardens to have green cover in the surrounding but it’s always an advantage to have a protected green cover in the surrounding.
Region wise Prices
|Region||Avg. Cost per square Feet||Percentage- Rise/ Drop|
|Wagholi||Rs. 4,616/ Sq.Ft||0.4%-Drop|
|Kharadi||Rs. 6,732/ Sq.Ft||1%- Rise|
|Baner||Rs. 7,299/ Sq.Ft||1%- Rise|
|Balewadi||Rs. 6,619/ Sq.Ft||3%-Drop|
|Talegaon||Rs. 3,991/ Sq.Ft||3%-Drop|
Source : MagicBricks
PCMC has included these villages within its limit Gahunje, Jambe, Marunji, Hinjewadi, Maan, Neere, and Sangawad.
PMC has included Lohegaon, Shivane (Uttamnagar), Mundwa (remaining Keshavnagar), Hadapsar (Sadesataranali), Shivane, Ambegaon, ( Khurda), Ambegaon (budruk), Undri and Dhayari within its limit. The inclusion within the municipality city limits helps in undertaking development projects, improvement in basic amenities, and better waste management.
Different real estate facts and understanding of any given project will help make our real estate investment in Pune easier.
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