Real Estate Development Trends in outskirt of Pune

One of the majorly growing cities in Maharashtra is Pune. Pune has a cosmopolitan crowd with a population of more than 6-7 million and growing every day. Pune is also considered to be the Educational, Industrial and the IT hub of India. Pune enjoys a good infrastructure and transport facilities, Airways, Railways, Roadways and close proximity to Mumbai by expressway. More and more people migrate to Pune, foe enjoying its job opportunities and good education. There has been considerable progress in the infrastructure development in Pune, yet it is not able to fulfill the demands of the growing Public.

Ever since there has been a growth in Pune’s population the demand for residential properties have gone up and it has become very difficult for buyers to buy property in pune at reasonable rates. The trend for purchasing the property has changed and the people are looking for spacious economical yet commercially viable properties. The usual trends are flats in pune.

Since the mid of 90s Pune has been spreading steadily outwards, embracing most of the rural areas around it and bestowing the benefits of urbanization on them. Areas like Hadapsar, Aundh, Baner once which used to be considered the out-skirts of the city has been merged to be among the developed locations of Pune due to expansion of the city limits and now considered among the most sought after destinations in Pune.

Real Estate Trends in Pune

“Real estate trends is a term used to describe any consistent pattern or change in the general direction of the real estate industry, which over the course of time, causes a statistically noticeable change. This phenomenon can be a simple result of the economy,significant changes in mortgage rates, consumer speculations, or other fundamental and no fundamental reasons.”

Owing bi time to the IT related developments there has been an upward trend in Pune’s real estate. There is obviously a huge demand for commercial and office space and residential houses and apartments. Pune’s real estate developers are significantly changing their rising demands from the corporate houses. We have major real estate developers like Godrej Properties with ‘Eternia’ and ‘Millennium’ in Shivaji nagar and Koregaon Park, respectively. GESCO, is in collaboration with Singapore Technologies for ‘GE PLAZA’ on Nagar Road- Shappoorji Pallonji IT Park at Manjiri-RPG Group with food world out let spread across several locations- Tata Group with Westside Chain- K Raheja Group with Shoppers Stop – Pyramid megastore-Pantaloons apparel showroom- very close to MG Road

The real-estate trends have changed totally since the introduction of housing finance institution offering unprecedented offers, builders giving in more lifestyle amenities demands has been rising. However it is not covering all parts of the city. Also major and established real estate builders enjoy customer preference over new names. The demand for premium apartments and deluxe villas and housing complexes from NRIs speaks significantly about the real estate trends in Pune. Some premium options like Panchshil Reality’s new development, ‘Waterfront’, will have unique features. Many NRIs from the Gulf buy flat in pune as they consider buy property in pune and sell property in pune is a safe bet.