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Property In Pune No Longer A Desired Retirement Home

By Author: Vinay Kumar
Total Articles: 128

Many people are looking to invest in flats in Pune as the city is a opportunity hub that attracts many people across the country. Many people who initially are unable to buy a property in Pune take a house on rent. The city has transformed itself from a retirement paradise to an opportunity hub and this is attracting many people to invest in Pune property. Even the rental rates of house on rent have gone up due to high demand from migrants. However all this development is making one section of people extremely unhappy. People who had bought flats in Pune so that it could serve as the retirement home are upset with the high pace of development.

The migrants who have shifted here and raised the property prices of Pune property and the rental rates of house on rent have also caused rise in cost of living. High and rising prices of commercial as well as residential property in Pune have caused escalation of cost of living. People who had bought flats in Pune so that it could serve as a retirement home are worried about the trend. People had earlier invested in the city due to excellent climate and low cost of living. But rapid urbanization is changing the face of the city. The city is plagued by huge and uncontrolled construction activity which is affecting the overall eco system as well as the climate of the city.

Few months ago the city was plagued with huge landslides it was later found out that illegal construction activities has causing damage to the eco-system. The city of Pune has now become a huge employment hub which attracts a big talent pool. A number of people are shifting to the city every year and hence there is a demand for property in Pune and house on rent. Builders too looking at the increase in demand are constructing numerous projects offering Pune property in various localities across the city. There is so much demand for commercial as well as residential property in Pune. The city absorbs the office spaces. In terms of residential sector too Pune property never faced stagnancy as well as slowdown even when property in India was not performing well in the last two to three years. The city has turned into a vibrant town it is no longer a sleepy city which is a dream destination for the retired people.

Makaan.com is a leading property site that is known for carrying avant-grade features that helps the buyers and sellers of flats in Pune to connect.

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