Why Housing Development is Growing in Pune
  • Posted by: Prachi Shah
  • 24th January, 2019
  • 6

Why Housing Development is Growing in Pune

Many people are investing in upcoming projects in Pune and the city has definitely seen a rise in the number of new projects.

Upcoming Projects in Pune

Rising Demand

Pune has seen a rising demand for housing projects due to its rapid development. It was already famous as the Oxford of the East with several reputed schools and colleges. Thus, there has always been a huge influx of students to Pune. This has resulted in a constant demand for rental homes. The has indirectly led to an increase in upcoming projects in Pune. Investors have recognised the need for rental homes and thus, there is rise in people who invest in second homes in Pune and then earn rental income through it.

Pune is also growing to become an important IT hub of India. It already boasts of IT giants such Cognizant, Wipro, Infosys and many more. Hence, there are ample job opportunities available. This has led to several young people coming to Pune in order to further their careers and settle down. This is the major customer base that builders are targeting with their upcoming projects in Pune.

Affordable Rates

Compared to its neighbour, Mumbai, the real estate cost of Pune is quite less. This is another reason why there are so many upcoming projects in Pune. It is much cheaper to buy land here and build a project. Moreover, many people who are living in Mumbai also prefer to buy their second homes in pune since they can do that on a comparatively lower budget. This makes it possible to buy another home for investment rather than waiting to accumulate funds for another house in Mumbai.

Good Returns

Pune’s real estate market is quite steady. It remained strong even during demonetization and RERA. Many people have recognised this quality and invest in upcoming projects of Pune for good returns. The past performance of the market ensures good and growing returns and any investment in Pune is bound to increase quite a lot in value over the years.

Investing in upcoming projects in Pune is a lucrative option that is being chosen by people looking to make a sound investment.

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