Pune is among the top cities in India. It is known for its green landscapes and cool climate. This city has grown tremendously in the residential, industrial and educational sector. Today, this place is home to some of the most reputed IT companies and educational institutes. This growth has led to development of many high-end residential projects in the city.
Pune city has seen a lot of infrastructural development in the past few years. Some of the areas of city such as Hinjewadi, Baner and Kharadi, which were once termed as rural areas, have today become one of the prime destinations of the city. Investment in the residential sector of Pune has grown owing to fluctuations in the stock market, reducing returns on mutual funds and uncertainties in other investments. Real estate is the only industry with continuous positive growth.
This city today has become a home to premium 1, 2, 3, 4 and 5 bedroom apartments, bungalow and villa projects. Some of the most reputed developers are coming up with multiple residential projects here.
Pune comprises of an array of properties such as malls, multiplexes, multi-cuisine restaurants, multi-specialty hospitals, etc. The main objective of the property developers in this city is to understand the requirements of masses through innovative concepts and quality construction. The developers here are known here to create structures that have magnificent architecture.
The rapid development in the civic infrastructure such as water supply, electricity, better quality roads and waste management, is the main reason behind growth in the residential sector. This city also serves as a great investment alternative for both; people who are self-use home investors and people who are looking for investing their funds in the real estate.
As people from various places plan to settle down in this city, first-home sales from the major part of the transactions. Property rates have been highest in the areas such as Hinjewadi, Hadapsar and Kharadi which are major IT hubs of the city. Besides the IT professionals, even the student population continues to grow in this city. Students from all over the country come here to pursue their education.
The other reason for growth in the real estate sector is Pune's proximity to the economic capital of the country. i.e. Mumbai. As the bus and rail transport system in both these cities is organized, it is convenient for people living here to travel to Mumbai. Therefore, many people who work in Mumbai actually have their homes in Pune.
The growth of this city in the real estate arena is not a temporary phenomenon. The city will continue to grow in the coming years. Therefore, the main focus should be on improving its infrastructure such as construction of new roads, widening of existing roads, construction of flyovers and subways, which will reduce traffic congestion and making the public transport more efficient. With these facilities, the city will continue to grow and คอนโด prosper in the near future.
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