Pune Real Estate Going Strong and Steady

Despite the fact that the real estate market all over is experiencing a slump, Pune real estate is going steady. While industry experts have predicted a steep decline in the real estate values, Pune seems to be confronting the forecast.

Backing the statement are the following examples. To begin with, within months of announcement of a new project by the Magarpatta Township Development and Construction Company, 5,800 apartments of 20,000 planned were fully sold out. This is in spite of the fact that the project is on the peripheries of Pune at Sinhagad Road. Same is the case with several other projects which includes the Blue Ridge Township at Hinjewadi, which has seen vigorous sales in the last few months.

Given that Pune was by no means a mainstream real estate destination it never saw a huge drop in real estate prices. The slump was there but it was for a short period of time. Reasons Pune real estate agents that there was demand but people were anticipating a fall in prices so they were waiting to buy an apartment in Pune. But on the contrary prices escalated and so the demand.

Moreover, since the IT industry drives the property demand in the city, first home sales form a major chunk of transactions happening in Pune. Inevitably, transactions as well as price escalation have been highest in the areas of Kalyani Nagar and Baner which are close by two major IT hubs in the city. Besides the IT and BPO industry, the student population continue to fuel demand for housing in Pune.

Renowned Pune real estate developers sack the view that the Pune property prices are on the move for a sharp drop. Pune real estate agents and the local industry experts don’t see that much of effect of recession in Pune Real Estate industry at least in the next 10 years. Pune real estate builders affirm that the demand is stable and outstripping supply.

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Pune Real Estate – Buoyant and Inviting

Pune, the Queen of the Deccan, located in western Maharashtra. The city, today has become a global city, and is representative of the very best in Indian society. The city has taken development and equity on equal pedestals, and has therefore succeeded in becoming an example worth being emulated.

The economy of Pune is growing at a rapid rate because of infrastructural development and increasing amounts of foreign investments

. The real estate sector in Pune has hit a golden patch, and Pune property prices are appreciating like never before. The strategic location of Pune makes it one of the best places for investment. Also, as a result of enormous free flowing capital, Pune real estate builders have obtained a massive financial base, which has allowed them to expand operations in the commercial, residential and retail areas. Moreover the city is dotted with transitional companies like IBM, Dell and Accenture which has made it the hub of the IT sector.

Pune real estate prices are on an upswing with capital appreciation of 25-30 per cent annually. Many areas have prospered to such an extent that property prices have almost doubled. The cosmopolitan base of Pune has attracted immigrants from neighboring cities, which has kept Pune rental markets in the upfront. Houses are available for rent easily and at affordable rates.

According to Pune real estate brokers, the city has so far been insulated from any impact of the global financial crisis. It is said that investing in Pune properties in the medium and long terms makes the most economic sense today. The townships offer the safest and most investment laden opportunities. The best investment destinations include Supreme Palms, Mahindra Royale and Kumar Sansar Kondhawa.

Pune also plays host to the Commonwealth Youth Games this year. This has enabled the city to showcase its potential and has as a consequence led to the setting up of an exclusive Power plant, newer industries and several other business technology development projects have sprung up.

Pune real estate today is buoyant and inviting. It is ripe for innovation and investment. Pune needs to continue on this growth chart and exploit its potential to its fullest, feel the industry experts.

About the Author:

George Gonigal provides you the best and latest info on India Real Estate. He would also let you know about Pune Real Estate. To know more, visit Real Estate in Pune.