Why Pune is The Best Place To Invest in Real Estate Market?

Are you looking for a right residential project to invest in real estate market? Are you also confused about the right city to get high returns on your investment?

If yes, just go through this article and you will get an answer for your every problem. Buying home in India is easier said than done due to a number of reasons. Extreme delays of years to undeveloped localities, prices, and frauds by builders are some of the reasons making the real estate market a risky place. In cities like Noida, people are really scared to invest due to delays in getting possession and the tricks played by the builders. But there are still some areas where you can park your money without any hesitation and one of them is Pune.

If you are looking for affordable housing projects by investing in which you can generate good returns, Pune is a good destination for this. property in pune is not just affordable but also has immense growth potential. With so many universities and offices of leading companies, the city is growing rapidly. It gives investors more chances of making money from realty market.

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Here are a few reasons making Pune a better option over other cities to buy a house.

Connectivity: In today’s time when people are frustrated with the excessive traffic jams on roads, a city with smooth connectivity via wide roads will definitely get priority over other locations. Same is the situation with Pune, where you can enjoy smooth rides on wide National Highways and sector roads. Further, the city also has metro connectivity, but terminals and other modes of transportation.

Infrastructure: Social infrastructure including hotels, hospitals, schools, colleges, shopping malls, retails stores and entertainment hubs are improving in the city. It ensures a happy, enjoyable and convenient life, which modern homebuyers look for when buying a home. If you also give preference to these factors, you must buy property in Pune.

Commercial development: Commercial and industrial development has increased city’s population over years. This has also increased demand for more residential projects and apartments. If you own a second property in Pune, you can easily earn a good income from it by renting it out.

There was a time when the city was a favorite residential destination for people who love the serenity and peaceful surrounding, but today it has become the preferred destination of all. Top builders in Pune have launched amazing housing projects to cater to the housing demand of high-net-worth clients looking for luxury homes. In short, Pune is the perfect destination to work, live and invest.

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It is the right time to call on purchase of property in Pune

Real estate professionals advise homebuyers to take a plunge without looking ahead to a price correction, which is not likely to occur.

There have been two issues afloat inside the flats in Pune. One turned into the purchaser expectation of a drop in assets charges and the alternative from the investors concerning returns and marketplace sentiments. Post-union budget price range and at some stage in the remonetisation section, specialists are advising buyers not to wait but to make the leap.

According to a real estate market expert it is a fantasy that property prices will drop. Post budget, there were no discounts inside the marketplace. In the last 3 years, a widespread upward push in creation price has been noticed. Builders have borne the rising expenses (almost through forty percent).The marketplace has remained down for the remaining to three years and in the course of this period, developers have not accelerated property rates in Pune.

The real property area could be returned on track in a few months’ time. In a recent announcement, Venkaiah Naidu, Union minister of urban development declared that provisions will be made via the Government for buyers and more stress will be on infrastructure. He further added that interest rates subvention schemes of 4 % and 3%, respectively, for the housing of Rs.9-12 lakh and Rs. 12-18 lakh. The budget assertion that instead of constructed-up area of 30 and 60 square meters, the carpet area may be taken into consideration will assist to create bigger houses for all, such as the center training.

The section of fewer transactions inside the real property market will quickly be a chapter of the past. It changed into the fast-term impact on the market, publish demonetization.

A real estate agent in Pune said that in the lengthy-run, buyers need no longer worry seeing that at the time of investment there's a ready horizon of 3 to 6 years. For the duration of this time-frame, the marketplace could be at a better position. The impact of demonetisation changed into quick-time period.

Pune residential marketplace records investment for 3 to 6 years is unlikely to hurt if a buy has been made after proper due diligence and studies. The western and the central part of Pune seems to lucrative investment option.

Considering property prices will fall back to normalcy in some months' time, it will be wise to shortlist and buy a property as early as possible. A good property at a lower rate now will fetch exact income in some years. It is a great time to buy property. This is a buyers' market and negotiations are available.

Within the west quarter of Pune, houses are in the Rs 3,000-Rs 10,000 in keeping with sq.Ft range with the Rs 6,000-Rs 7,000 per sq.ft being the dominant section with over 50%. This is observed by way of the Rs 7,000-8,000 in keeping with sq.ft budget with 23% proportion.

Most desired localities right here are Wakad, Baner, Aundh, kothrud and Hinjewadi. Owing to infrastructure trends and availability of properties, the west region appears to be an excellent preference for investors at this factor in time.

Pune’s builder ask to pay environmental damage By NGT

The National Green Tribunal's bench here has directed  builders in Pune to restore the environmental damage allegedly triggered to a housing contemporary society in Khandala due to illegitimate hill cutting and tree hacking.

The western zonal bench of judicial member U D Salvi and expert member Ranjan Chatterjee asked the Mumbai-based developer to deposit Rs 40 lakh with Lonavala Municipal Council for the restoration work.

It also restrained the developer from resorting to any further tree felling or hill cutting.

It asked the municipal council to regain the destroyed recreation ground and hill side at the Vikas Valley society at Khandala close to here to its original form.

The bench, in its judgement on Feb 28, also ordered the developer to pay Rs one lakh as lawsuit cost to the people - Nanik Rupani and Ashish Vaid - who had approached the NGT alleging "environmental damage" in the area.

The bench ruled that the participants - Vikas Developers and Vikas Gupta - shall jointly or severally pay the expenses and expenses sustained for restitution of the space and deposit Rs 40 lakh with Lonavala Municipal Council within a month.

As per the application, the Pune’s builder experienced to illegally cut a hillside and felled trees to call and make an unlawful and an unauthorized road without permission from Lonavala Municipal Council. The contractor, however, denied the accusations of leading to environmental destruction} in the area.

"We also direct Lonavala City Council to restitute the area of garden/open space as shown in the sanctioned layout, more especially a strip of land admeasuring 6 metre large and 105 metre long in recreation ground/open space, within half a year and restore the costs from the builder, " the tribunal said in its written order.

The developers will not in any manner whatsoever illegally and unauthorisedly fell the trees or carry out hill trimming in the project area of Khandala at Maval taluka in Pune  property area it ruled. The Lonavala civic body informed the bench that it had issued stop work notice to the developers however they would not respond.

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The tribunal further added that it appears that hill cutting and forest felling has been done. The bench also mentioned in its order that the Lonavala civic body and the state authorities supported the applicants, who alleged environmental damage in the area.

Where should you invest in Pune real estate market?

The year 2016 has been excellent for the real estate projects in Pune. The major contributor of this growth story is the surging IT sector. According to the recent data, there is a huge scope for investment in areas such as Baner, Hijewadi, Kharadi and Wagholi. All these localities are currently having the highest number of projects available in the city. The supply is the highest in the Pune market.

The key areas to focus in Pune

Several areas are developing in Pune. Some of the key areas that you can focus and can provide excellent investments are Wakad, Kalyani Nagar and Wagholi.

Wakad has been fortunate to have the Mumbai –Pune Expressway and the IT hub. This has helped the area to develop rapidly in the residential space. There is a massive demand for plots and flats in this area. The market experts believe that the prices in this area may hover around Rs. 4,500-5, 500 per sq ft. In last few years, there has been an appreciation of around 40% in this area.

Kalyaninagar is considered the posh residential area in Pune. This area has witnessed an appreciation of 22.5% and the average price of the property by the year 2020 is expected to increase. Therefore, Kalyani Nagar would definitely an eye turner in the upcoming years.

Wagholi- Waholi is one of the best property locations. The area has witnessed an appreciation of 24% in the rates of the apartments.

Where should you invest in the upcoming residential projects in Pune?

The Central part of Pune has been the main centre for the real estate activities. However, South Pune is slowly picking up its pace. The primary reason for this development is the availability of land in this area.  The localities like Undri and Kondhwa are most active in terms of real estate development. Other reasons that have further the pushed the developments of these areas are open spaces, closeness to IT hub and commercial development.

Where can you get potential rental benefits in Pune?

Pune is the hub for industrial development and maximum job opportunities are available here. The northern and southern corners of the city have recorded recently a maximum rental yield. The localities expanded on the back of advanced road connectivity, growing infrastructure, commercial centres and the establishment of the corporate hubs. According to a report, there has been an upsurge of 4 per cent year-on-year average weighted rental earnings of both commercial and residential projects in Pune. The city has witnessed growth in commercial development substantially, which has influenced the rental earnings in the city with the passage of time.

According to a property agent, the real estate in Pune Northern part has seen a significant real estate growth. The areas that have experienced a magnificent growth are as follows-

• Akrudi- Akrudi has been known for the educational institutes and the rental growth rate is sustainable. The demand for the rental property has grown due to the working population and smooth connectivity. Most of the rental demand is among the students and the working class. People are exploring low cost-effective options here. 

• Nigdi- Nigdi is a fast developing micro- market in the Pimpri- Chinchwad area of Pune. The demand for the rental property is fast picking up in this locality due to its closeness to the industrial hub and the posh neighbourhood like Anudh, Shivaji Nagar and Hinjewadi. This area has recorded a rise of 12 per cent in the average rental values. 

• Katraj- This area has an excellent connectivity with Magarpatta IT Hub, MG Road and Pune's railway station. Katraj’s connectivity has made this place quite convenient for commuting. The reason for high rental values is great connectivity. This area is favourite among the working professional .Other features that have worked in favour is the road connectivity offered by the Bangalore-Pune Highway.

• Kondhwa- Kondhwa’s rental values are much cheaper options as compared to the other localities like Magarpatta. There is smooth road connectivity. The area enjoys a good transportation facility and all modern amenities.

It is will a great investment opportunity for the homebuyers in Pune now. If you invest in Pune, you can reap potential rental income in the near future, as it is a developing market.  

Why Festive Season brings cheer for Pune's Real Estate Market?

As the festive season has gone, the real estate market in Pune is looking forward to stability in the real estate in Pune. The industry experts insist that there is a need to reinvent the position of real estate in Pune to ensure its buoyancy in the future. There will be continued expansion in the sales number in Pune. The apartments in Pune have various facilities and amenities. Those who buy luxury flats in Pune look for comfort and luxury.

The builders in Pune welcome the festive season as most transaction happens during this time. It will be a turning point for Pune's real estate market as the government is taking potential step for growth and development. During the festive season in India, a large number of properties are bought and sold. In the context of real estate developers in Pune, they launch the most projects during the few weeks of the festive season.

The Great Indian Festive Season

The festive season begins with Ganapati and peaks with Ghatasthapana and Dusshera. Realtors, however, expect this year’s festive season to be no less spectacular than any other time.  A prominent developer has stated that there will likely be a tapering off in sales during the festive season after Diwali. The real estate developers in Pune who have properties in Pune at the right localities and at the right price will witness huge rush from the homebuyers
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Pune’s real estate currently is a growing market and prominent investors are investing in the real estate market. According to global investors, Pune also has lower levels of existing inventory now. The global investors are investing huge amount in the Pune's real estate market. Hence, while many new projects in Pune have been launched, the existing inventory of unsold units has fallen to 55,220 from over 70,000 indicating a strong real estate market. The real estate market in Pune is a growing market and there will be further new launches and sales growth.   

Upward Trend in Promising Locality for Buyers Keen on Real Estate in Pune

Real estate in Pune over the past few years has evolved significantly according to experts. The influx of technology companies and the presence of techies employed in software and hardware development has meant greater demand for real estate in Pune. This increased demand has been tackled with a larger supply of flats from builders in Pune.

Many builders have numerous upcoming residential projects in Pune as builders anticipate the rising demand for homes in Wagholi to continue into the future.  

Wagholi Preparing for Uptick in Demand for Homes

It is anticipated that by the end of next year, a huge number of newly built flats in Pune located at Wagholi would be ready for occupancy. Most such projects in Wagholi are of one, two, or three bedroom configuration and demand for such homes is anticipated to be high when these flats are ready for possession at the end of 2017. Hence many who would have otherwise bought apartments in Pune at Kharadi now find Wagholi more attractive as the price of flats at Kharadi has grown beyond their budget. 

What Flats at Wagholi Offer Buyers

Many of the units in development projects in Pune under construction at Wagholi are of one, two, or three bedroom configuration and the region has a large number of multi-storied apartment buildings. As the expectations of consumers have evolved so have the amenities commonly found in well run and maintained localities. Most residential projects in Pune at Wagholi which are ready for occupancy already have the facilities just mentioned. 

Price Points and Future of Property in Wagholi

Today, the average price for flats in Pune at Wagholi is 4,700 rupees per square foot. Thus the price trend at Wagholi indicates a highly positive trend and it is expected to continue its ascent into the future as well. however, cannot be classified to be truly among. luxury flats in Pune Experts.