Pune Real Estate Market Shows a Growing Trend Despite National Low

In a recent study of real estate market by PropEquity, Pune has emerged as one of the top cities to invest in India, next only to Bengaluru.

The real estate sector is the second largest employer in India next only to agriculture and is expected to grow by nearly 30 percent over the next decade. The Indian real estate sector which comprises of sub-sectors such as housing, retail, hospitality, and commercial is expected to touch US$ 180 billion by 2020.

The housing sector alone contributes 5-6% to the country’s GDP and is well complemented by the increasing demand for office space in urban and semi-urban areas.  It is also expected that real estate will incur more NRI investments in both long and short-term in the next decade.

Pune is expected to be one of the most favoured real estate investment destinations for both Indians and NRIs alike.

Growth of Pune Real Estate

In a recent study of real estate market in India conducted by PropEquity, Pune has emerged as one of the top cities to invest in India, next only to Bengaluru. It has been a rough period for Indian real estate as both the property occupancy and sales have drastically dropped across India, especially in the Northern parts of the country. There has been a drastic reduction of 27% in Delhi-NCR real estate market value in last 12 months.

Pune is the only city in India that has maintained consistent growth in real estate despite the bad market condition and has seen an appreciation of 25 to 30 percent every year. In fact, there is a heavy demand for residential properties in Pune with the real estate sector recording compound annual growth of 14 percent. To fulfil these requirements, a number of residential projects are upcoming in areas like Keshav Nagar, Wakad, Balewadi, Ambegaon, Hinjewadi, etc.

The eastern belt of Pune has also seen a massive growth thanks to its proximity with IT parks and airport.  With the increase in property price in Bangalore, Gurgaon, Chennai and Mumbai, Pune has now emerged as a preferred destination for IT companies. And the best part is that the development in Pune is happening in a phased and planned manner thus showing great potential for future expansion

According to a recent survey by Magicbricks, despite Demonetization last year, Pune has shown an annual growth of 3.4%.

While most units fall in the Rs. 30 Lakhs -Rs 1 crore price bracket, there are luxury houses worth 20 crores as well.

Awesome weather, affordability and quality of living are few other factors that have resulted in improving property prices in Pune. As per  “Mercer 2015 Quality of Living” rankings, Pune is ranked 145 which is significantly higher for the quality of living than the country’s traditional metros such as Delhi and Mumbai. It doesn’t come as a surprise when not only people in India but NRIs also invest in Pune Real Estate market resulting in the upward growth trend.

 

 

Keshav Nagar: Most promising location for first time Home Buyers?

Keshav Nagar and areas around it are undergoing major infrastructural changes. This will greatly appreciate the property rates in the coming years.

Keshav Nagar started coming in the limelight of Pune real estate in the late ’90s. Due to the fact that it is still under Gram Panchayat and therefore outside the official municipal limits, property prices have remained rational until now. Recently, http://oceanadesigns.net/envira/brown-chocolate-leather/ PMRDA (Pune Metropolitan Regional Development Authority) took charge of 100 fringe areas around PMC and has been taking care of all the infrastructural development in these areas which also includes Keshav Nagar.

Through the following lines, we will explore what all does Keshav Nagar have in store for the first time home buyers.

see url Proximity

  • Keshav Nagar is located between Manjiri on the East and Ghorpadi on the West, and is close to Pune Camp. Its closeness to Koregaon Park, a cosmopolitan locality, is an added advantage.
  • Thriving IT hubs of Hadapsar, Magarpatta, Kharadi, and Kalyaninagar are all located nearby, thus increasing Keshav Nagar’s popularity.
  • Reputed schools like The Bishop’s School, The Orbis, The Lexicon School, City International, Kendriya Vidyalaya, etc. offer high quality education supporting children’s academic growth. All of these lie in a reachable radius which reduces the commute time for children giving a choice to pursue extracurricular activities.
  • An umbrella of reputed hospitals like Columbia Asia, Medipoint Hospital, Noble Hospital, Inlaks and Budhrani Hospital, Ruby Hall Clinic, Apollo Jehangir Hospital and etc. assures you of healthy living.
  • Major malls such as Amanora Town Centre and Seasons Mall on Hadapsar-Kharadi Bypass, Phoenix Market City on Nagar Road are located close by offering numerous recreational activities.

buy Maxalt online no rx Connectivity

  • Keshav Nagar, situated at an approximate distance of 9 kilometers from the Pune Lohegaon Airport, is an intelligent option for a frequent flyer.
  • The Pune Railway Station is about 8 kilometers from Keshav Nagar while the Hadapsar Railway Station is roughly 2 kilometers away.
  • Pune Mahanagar Parivahan Mahamandal Limited (PMPML) buses ply from Keshav Nagar to Pune Airport, Railway Station, Swargate and Hadapsar.

Affordability

In terms of residential property value, Keshav Nagar benefits majorly from its advantageous proximity to Koregaon Park, Kalyaninagar, Kharadi, Magarpatta, Mundhwa, and Camp. Keshav Nagar is one of the increasingly rare locations where purchasing a budget home in such a strategic location in Pune is still possible. Currently, Keshav Nagar is primarily a destination for mid-income and upper middle class home buyers, with a variety of new residential projects and resale options available to choose from.

Extra benefits

Most of Keshav Nagar was farmlands quite close to the Mula-Mutha River. While residents of nearby localities are supplied hard water, Keshav Nagar enjoys underground water that is potable. Also, the abundant green cover of Keshav Nagar offers a pleasant relief from the concrete jungles of the city.

Future developments

Keshav Nagar and areas around it are undergoing major infrastructural changes. This will greatly appreciate the property rates in the coming years.

  • A proposed flyover connecting Kharadi to Keshav Nagar aims to cut down the otherwise 6 kilometres distance to barely 2 kilometres.
  • The 161 kilometres Ring Road to be built by the PMC, PCMC and PMRDA will disperse off traffic in Keshav Nagar besides benefitting all other areas of Pune.
  • The 22 kilometres riverside road along the Mula-Mutha River will not only help decongest the traffic across the city but also connect Mundhwa, a stone’s throw away from Keshav Nagar, to the neighbouring Central Business District (CBD) of Pune.

For prospective buyers, Keshav Nagar has a range of choices when it comes to properties. From residential plots to independent houses, villas and builder floor apartments, the locality has it all. If you are planning on an investment, Keshav Nagar could be a promising destination!