With continuous development in the IT and manufacturing sector, the demand for housing units in Pune is at pace.
Pune’s real estate market has been booming for the last few years due to the considerable growth in the manufacturing and IT sector. The city is the preferred location for new-age home buyers and professionals due to its livability offerings and flourishing employment hubs. For every age group, Pune is the optimal city to reside in and it has also been marked as the best in terms of livability. The professionals are getting attracted towards the city because it promotes work-life balance and a healthy lifestyle. The pristine greenery and pollution-free environment of Pune are inviting nature lovers and new-age home buyers from all over the country.
As Pune is India’s second major IT hub, it is enabling millions of people to move into the city which is ultimately inducing demand for a housing unit. The role of migration can never be ignored in booming the demand for real estate in any city or country. Various advantages starting from employment opportunities to beautiful surroundings to a healthy lifestyle are promised by the alluring city of Pune. Apart from this, being closely located to the financial capital of the country has also added to the value and demand of housing in the city.
Here, we are listing some factors that are inducing demand for residential units in Pune.
Easy access to the whole city simplifies life. For the daily commute, an efficient transport system has a significant role to play and the beautiful city of Pune promises smooth inter and intra connectivity. The city is efficiently inter-connected through major connecting roads and railway stations. Apart from this, Pune Metro is also arriving which will ensure smooth connectivity whole through the city. For intra connectivity, Pune-Mumbai Highway and Mumbai- Bangalore Highway are closely located ensuring easy leisure travel.
Return On Investment
With the continuous relocation of people in the city, the ultimate demand for housing units is on the spike. Various projects in different parts of the city are on ongoing construction and currently, the rates of property in Pune are economical. From the future perspective, it is been expected that this demand will continue to see a quick rise which will ultimately yield a higher return on investment for property in Pune.
Growing Employment opportunities
As Pune is the leading manufacturing hub and second major IT sector of the country, the employment opportunities in the city are at a constant pace. Professionals are getting attracted towards the city seeking a boost in employment opportunities. Various multinational companies are also investing in Pune which is opening gates of opportunity.
Emerging manufacturing hub
The city is termed as the top automobile and manufacturing hub of India. Significant manufacturing, engineering, and electronic companies like Bajaj, Mercedes, Sony, etc. have their manufacturing units in Pune.
The different suburbs of the city are flourishing due to the growth in demand. Prominent suburbs like Wakad, Hadapsar, Hinjewadi, Wagholi, Wanar, Tathawade, etc. are seeking constant demand for residential units due to being in close proximity to employment hubs and various other benefits. Due to these benefits, new projects in Tathawade are being constructed.
Due to these major attractions, people are relocating to the city in search of a better lifestyle. Pune is the seventh largest contributor to the country’s GDP and these factors perfectly explain the reason behind it!