Pune is among the few cities in India that have accelerated steadily, and has made it among the 100 top cities in the country for its Real Estate sector.
Over the past five years, Pune’s real estate sector has evolved a lot and has been influenced by numerous factors. Among them, demonetization and GST implementation are the two major aspects that created a slight stir within the real estate sector across India. However, since Pune’s real estate has always been known to be steady, it balanced it out and stood as a clear winner even under this critical situation. For such reasons, it is deemed that next 10 years from now will be wonderful and lucrative for the real estate market of Pune.
Progressive Business Model in Pune’s Real Estate Sector
The main reason for this is the progressive business model adopted by the developers and builders in Pune. After implementation of strict guidelines and regulations from the Indian government and introduction of the RERA Act in 2017, the developers have now altered their business model. The new model focuses on timely completion of projects, equipping amenities that are promised, and ensuring high-quality of construction.
Increased Transparency between Developers and Buyers
Just like other regions, even Pune experiences an increased number of developers and builders joining hands with reputed national and international brands for raising funds and mitigating the risks. So, it is expected to deliver good transparency and will ultimately lead to restoring the confidence of buyers in the sector.
An Assortment of Projects in All Categories
The builders in Pune are focusing more on completing their existing projects, rather than introducing new ones. As a result, this serves as a golden opportunity for the fence-sitting home seekers and investors to take the plunge in the real estate market of Pune. Also, there are multiple options available from affordable housing to mid and luxury housing. Therefore, buyers can grab their dream house within their budget limit.
Since Pune holds proximity to Mumbai, it already boasts of a well-developed and well-planned infrastructure. But, besides an existing impressive infrastructure, there are few other projects in the pipeline, which are only going to add positives and gains to the real estate sector. Few of the top-notch projects are:
· Metro Rail
· An International Airport
· Bus Rapid Transit System
Sound Returns on Investment
The real estate segment of Pune is not only beneficial for end-user investment, but also for profitable investments. According to the Indian Real Estate Report, January – June 2017, Pune is held as one of the sound real estate markets with less unsold inventory and more number of completed projects.
In a nutshell, the real estate market of Pune is expected to boom in the next ten years as it houses all the elements required for a healthy and sustainable growth of the realty sector.