Real estate trends in Pune are constantly evolving. This city is home to a lot of new people everyday. In order to accommodate all these people and provide them homes, the real estate market has seen a drastic growth. These real estate trends in Pune are so powerful that they affect the real estate market in Pune. This is one of the main reasons why it is important to study these trends and know the market forecast that is in store for everyone who is planning to invest in flats in Talegaon, flats in Pune,etc. Here are some trends and market forecast:
In order to understand the real estate trends in Pune, it is important to look at the real estate trends across the country. Here’s a glimpse of the price trends across top metro cities:
|Location||Price range (Rs per sq ft as on Feb 2018)||Change in price per sq ft (-/+ in the last one year)|
|South Mumbai||60,000 – 1,25,000
|Mumbai Suburbs||20,000 – 85,000
|Mumbai Peripheral||7,000 – 19,800
|Pune (City Level)||12,000 – 16,000||1-2% correction|
|Gurugram||Golf Course Road: 10,000 – 17,000||2-3% correction|
|Golf Course Extension: 6,500 – 9,000 per sq ft|
|Dwarka Expressway: 4,500 – 7,000|
|New Gurugram: 4,000 – 7,000|
|Noida||Greater Noida: 3,000 – 4,500||Stable|
|Central Noida: 5,500 – 10,000|
|Kolkata (City Level)||Baligunj: 18,000 – 20,000||Stable|
|Alipur: 14,000 – 22,000|
|Central||10,000 – 19,000||Stable|
|East suburbs||4,500 – 9,000||Stable|
|Southern Peripheral||3,500 – 6,800||1-2% correction|
|Northern Peripheral||4,500 – 10,000||1-2% correction|
|CBD||9,000 – 14,000||5-8% increase|
|Central Suburbs||4,500 – 6,000||Stable|
|Western Peripherals||5,000 – 7,000||6% increase|
|Central||16,000 – 3,000||Stable|
|Off Central||8,000 – 11,000||Stable|
|Western Suburbs||3,500 – 6,000||Stable|
|Southern Suburbs||3,000 – 8,000||Stable|
Now that the prices have been compared and the trends observed, here is the forecast for various trends that Pune real estate will see in the coming years:
According to experts, people are looking for ready to move in homes. The reason for this particular trend is no mystery at all as people want homes and they want them now. Due to this, a new trend is in practice, that of buying and investing in ready to move in homes. In the future as well, this trend will give shape to the way real estate scenario functions in Pune.
It has been observed that real estate sale has remained strong in the last few years. When numbers are taken into account, it is seen that in Pune as well as in other cities of the country, residential projects have had a steady sale, despite the circumstances. This is one thing that will be seen even in the coming years, given the hike in property investment.
It so happens that there are a lot of unsold properties as well. It is observed that because of this, property sellers will keep capital values at buyer friendly rates. This will be done across most markets to assure sales. We can see more unsold inventory being absorbed in the market. This will happen because projects that are near completion will be a preference for a lot of people.
For someone who is planning to invest in real estate, these trends are of utmost importance and should be studied thoroughly.