Right Blend For Development: It Industry And Real Estate Developers In Pune

By Author: Priya Kalate
Total Articles: 7
Comment this article

The IT industry boom in Pune has proved to be a boon for the real estate industry in the city. Both industries together have developed exponentially.

According to a survey back in 2013, Pune was the third most preferred city for property sales in India, after Mumbai and Bengaluru. By 2019, it has become the first choice of real estate giants for their investments and sales.

Pune is situated to the west of Maharashtra and is the 8th largest metropolis in the country. At the east of Pune resides Kharadi and Mundhwa, at the west, Balewadi, Bavdhan, and Baner. All these areas in the city are witnessing a massive flow of real estate properties. The city is currently being denoted as one of the fastest developing markets in the real estate industry.

The city is also referred to by many sobriquets such as the Oxford of the East, Queen of the Deccan, and Pensioner's Paradise. To sum up life in Pune, it’s a historic city with a shining past, an ideal present, and a promising future.

Numerous places in Pune are perfect for developing a commercial or residential property. You may locate multiple IT parks ...
... across the city and copious residential gated societies in every direction you travel. Several such projects are in progress, and people have booked their properties beforehand.

With old Pune's areas getting congested, locations on the outskirts of the city such as Balewadi, Undri, and Lohegaon are flourishing with modern commercial and residential properties. With close proximity to IT parks and major IT companies, there is a huge demand of 2 bhk flats in Balewadi area. Lohegaon, on the other hand, is attracting the working class sector who have their work-life in the surrounding regions such as Koregaon Park, Vimannagar, Kalyaninagar, and Yerwada. Coming to Undri, many leading builders are building premium luxury projects in the area, making it an excellent option for anyone looking to invest in flats in Pune. The property prices are budget-friendly, and you're sure to get value for your money.

About the rapid growth of the IT sector, the migration of IT enthusiasts between 2001-2011 remained constant at 12%. However, it is expected to decline by 10% between 2011-2021 and by 8% between 2021-2026. Nevertheless, this migration has already raised the demand for real estate properties available on rent and properties for sale in Pune. Consequently, a surge in real estate properties is witnessed by the city.

When purchasing a real estate property, every step should be taken with extreme accuracy. Buying a house for investment or for residing is counted among the most significant purchases of your life. With Pune undoubtedly being one of the best cities to live in India, purchasing real estate in this city can be a sound investment.

Considered as an end-user market, the real estate costs in Pune are high and growing. With all-time high prices, purchasing 1 bhk flats in balewadi Pune can be of a great deal.