With the influx of numerous IT/ITes companies to Pune, experts believe that the city would turn into an affluent real estate market like Bangalore, since the latter has witnessed a similar trend in the past. The dynamics of Pune real estate market is more broadly based and meets the growing aspiration of the buyers.

Presence of small and medium enterprises, renowned educational centres, manufacturing units and influence of the financial capital of the nation-Mumbai has what set apart Pune from other Indian cities.

Growth of the realty sector

Properties, which are adjacent to the IT/ITes hubs have witnessed a decent capital appreciation, since a big portion of the investors and homebuyers are from the IT sector. The city has emerged as a magnet for IT firms, thereby contributing significantly to speedy growth of IT parks and Special Economic Zones in the city.

Areas such as Aundh, Hinjewadi, Hadapur and Wakad are renowned for ITes, Sezs and IT firms. The city bore witness to a huge inflow of IT professionals in such areas. Employment triggers the demand in realty sector, and Pune’s urban growth has been quite rapid in comparison to other metropolitan cities. In addition to it, increasing migration to Pune has contributed significantly in strengthening it’s real estate market.

Key drivers

At present, Pune’s real estate growth is being driven by three sectors, other than IT. The education, manufacturing and auto sector in the city makes sure that Pune hovers on as a magnet for working professional across the nation. With the inflow of professionals around the country, the demand for residential projects has hit the roof. Increased affordability, inflow of immigrants, a huge working professionals and rising income levels have all contributed to the growth of Pune’s real estate.

According to property analysts, pleasant climate and proximity to the Mumbai city have acted in favor of Pune, making it one of the preferred choices of buyers. In addition to it, Pune real estate is much more affordable in comparison to other cities. This stands out as one of the foremost reasons why Pune’s real estate market has not witnessed a major slowdown like other markets in the nation.