Pune is no longer seen as a rustic old town that merely boasts of a few good schools and colleges. Now a thriving cosmopolitan city that welcomes young IT professionals, international students, and houses posh restaurants, Pune has emerged as an appealing investment option. Property in Pune is predicted to appreciate in value and demand for homes is slated to increase.
Still not convinced to buy property in Pune? Here are seven reasons:
- Rise in Employment Opportunities
Pune is not only a bustling IT hub, but it’s also home to a range of industries, automobile companies, engineering firms and manufacturing facilities. This presents ample opportunities for investors to purchase property in Pune since there is a persistent demand for houses from families moving to the city.
- Steady Increase in Rental Income
Not only is property in Pune set to appreciate, but experts predict a rise in rental rates. Which means, investors will receive a sizable monthly rental income. Many young professionals, low-income families, and college-goers are flocking to the outskirts of Pune to rent apartments.
- The Government is Developing the City’s Infrastructure
Pune is projected to enjoy rapid development and urbanization with the completion of the ring road. It will not only ease traffic congestion but improve connectivity in the metropolis. Furthermore, several proposed projects such as the Pune metro and the New Pune international airport are set to further drive up the rates of property in Pune.
- Internationally Accredited Schools and Colleges
Previously, Pune city only had a smattering of well-known colleges and schools. Now, many internationally accredited educational institutions have been built in this Maharashtrian city making it the knowledge hub of the country. Many of these institutions offer foreign exchange programs.
- Launch of Numerous Affordable Housing Projects
A spurt in residential projects in Pisoli Pune, Wakad, Baner and other areas have resulted in the availability of affordable housing. Investors can take advantage of the economical rates and sell the property after a few years at a handsome profit. Several developers have launched a number of cost-effective residential projects in Pune.
- Staggering Increase in Property Rates in Mumbai and Bangalore
Many professionals are realizing that large cities like Mumbai, Bangalore, and New Delhi are no longer affordable to live in. Property rates in these places is too high. In contrast, property in Pune is quite affordable. Even renting a place in Pune is much cheaper than Mumbai, Bangalore, and New Delhi.
- Companies are Moving Headquarters to Pune
Not just young professionals but even companies are realizing the high cost of rent in large cities in India. Most firms, be it large or small, are setting up their headquarters in Pune. Commercial property in Pune is also cheaper than Mumbai.
Now is the right time to either buy a flat for sale in Keshav Nagar or rent a house in one of the residential projects in Pisoli Pune since your investment will give steady returns for the next five to seven years.