What You Should Know About Pune's Residential Areas

The old-world beauty of Pune, India's cultural centre, plus the fact that it provides both urban and city life at once make it a desirable place to live. Here are several good reasons to invest in Pune.

Pune has experienced a rise in real estate demand in recent years, with buyers and investors displaying a keen interest. Despite being close to Mumbai, India's financial centre, Pune has become the country's fastest-growing residential market. It is most likely because there are residential areas in Pune that provide value for money, in contrast to Mumbai, where space is scarce and prices are skyrocketing.

So, if you want to invest in real estate this year, think about concentrating on Pune.

Why Is Pune a Favorite Location for Investment?

Pune has everything you might possibly need, including a pleasant temperature year-round, employment options, and reasonably priced accommodation. It comes as no surprise that Pune's residential homes are in high demand. Depending on your budget, anything is available, from quality to economical. The top five reasons to invest in Pune real estate are listed below.

Affordable Residences

The rapidly expanding IT industry and shifting demographics have a significant impact on Pune's real estate market. Property costs are substantially lower in Pune than in close-by Mumbai. You can purchase better projects, facilities, infrastructure, etc., at better prices. Meaning that inexpensive homes in Pune provide far more than you might anticipate.

In Pune, you can afford a bigger property for the same price as in Mumbai. Pune's huge variety of apartments, from high-end residences to modest apartments, is its finest feature.

A high rate of return

The growth of Pune's IT industry has made a substantial impact on the rising of the rental market and overall home prices. Pune is experiencing a significant influx of students and IT workers from around India.

Pune features some of the biggest and most beautiful IT parks in India and is home to over 110 MNCs. All significant businesses, including TCS, Infosys, Wipro, Persistent, Cognizant, Accenture, and others, are located in the Rajiv Gandhi Infotech Park in Hinjewadi, which is the largest of the parks. Pune's employment rates are rising due to the city's growing number of international firms.

Pune has a lengthy history, and compared to other Indian cities, it contains more top-tier educational institutions per square kilometre, including the University of Pune, Fergusson College, Symbiosis, ILS Law College, and Armed Forces Medical College.

The demand for residential and commercial real estate has surged as a result of these employment and educational options. Property values have been rising over time. A current investment will pay off handsomely in the future.

Outstanding social and civic infrastructure, and connectivity to Mumbai

According to the Ministry of Housing and Urban Affairs, Pune was India's most livable city in 2018. Previously known as the retirement home, this peaceful hamlet is now a vibrant metropolis. It features top-notch medical infrastructure, hospitals, and healthcare services.

In addition, Pune draws a lot of home purchasers due to its close proximity to and strong connectivity to Mumbai, the commercial centre of India.

The fact that Pune is a Smart City in India and has strong municipal and social infrastructure is encouraging for the future growth of the city. Jews, Parsis, Christians, and Hindus have all lived in Pune, a city that is a melting pot of cultures. Pune also boasts a vibrant nightlife.

Weather/Tourist Destination That Is Attractive

Pune experiences beautiful weather all year round. Pune's turmoil can be avoided without even leaving the city; weekend vacations to hill stations are only a couple of hours away (Lonavala, Wai, Mahabaleshwar, etc.). Almost everywhere in the city will have a view of the hills.

Amenities

Given their cheap costs, inexpensive homes in Pune offer their tenants first-rate amenities that homebuyers in Mumbai, Bengaluru, and Gurugram can only dream about. The amount of land available for opulent facilities in residential buildings is also considerably lower in metro cities, and if they do, the projects would be pricey.

Best Areas in Pune to Invest in Real Estate

Pimpri-Chinchwad

PCMC has evolved into a top option for house purchasers from being seen as a rural location where owning property was a waste of money to becoming a real estate hotspot.

This city area has recently seen increased connection and socio-infrastructural development, making it a popular option for first-time home purchasers. This region offers possibilities to people from different socioeconomic and professional backgrounds, fostering a cosmopolitan environment.

Your demands can be satisfied here, whether you want to own a piece of land or an apartment. A pleasant and fruitful existence is the consequence of the community-driven and growth-oriented development in this area.

Locations in Pune East:

Dhanori and Wagholi. Similar to Pune West, these regions are convenient to and close to Kharadi, Pune's second IT cluster. and possess the necessary social framework for a good life.

The Talegaon region is a good option for individuals seeking a tranquil lifestyle, a lush, green environment, and great connectivity. Premium 2BHKs typically cost between Rs. 45 lacs and Rs. 60 lacs, making them affordable for young first-time home buyers in the aforementioned localities. All of life's necessities, such as a clubhouse, landscaped gardens, a swimming pool, indoor and outdoor sports facilities, and much more, are available in these houses' gated, secure communities.

Hinjewadi

One of the main IT centres outside of Pune in Hinjewadi. This neighbourhood, which is one of the most sought-after developing suburbs for residential investments, is predominantly populated by IT professionals.

A square foot of real estate here costs about Rs 5,000, and the city has experienced remarkable expansion in terms of its physical and social amenities.

In Hinjewadi, a typical two-bedroom flat may cost between Rs 60 and Rs 70 lakh. In the nearby communities of Baner and Wakad, a comparable two-bedroom home will cost at least 80–90 lakhs.

By facilitating travel, Hinjewadi's Bus Rapid Transit System (BRT) and Light Rail Transport (LRT) are expected to support the real estate market in the future.

Kharadi

Again, this area in Magarpatta city is an IT hub of east Pune and is much sought after because of the IT specialists who work here. It offers the greatest potential for significant returns and for offering a healthy cosmopolitan lifestyle due to the mixture of people migrating from other states.

A 2BHK property in this location will cost between Rs 80 and Rs 90 lakhs at the going rate of Rs 6,400 per sq. ft. to Rs 6,700 per sq. ft.

To Sum Up

These days, people desire more from their apartment than just four walls and a parking space. People benefit from high returns on investment, employment prospects, a year-round environment that is consistent, world-class projects, a wide selection of residential projects, and some of the best residential locations in Pune.

Even if the city's infrastructure is experiencing considerable changes, the manufacturing and IT sectors have always attracted job seekers. This city offers a lot of vegetation and good weather compared to other metropolises, which is the cherry on top.