3 Things to Know Before Making a Real Estate Investment in Pune

Pune in the recent years has been a widely preferred destination for real estate investors. The city stands tall with an enormous growth of the residential and the commercial sector due to the arrival of several MNC’s, IT hubs, huge manufacturing set ups and an influx of hotels and malls. These factors have played a widely dominating role in the development of Pune and making it a chosen destination for real estate by the buyers. Pune being also well known for its quality education and its close proximity to Mumbai is a value addition to the city. For example, a few years back Hinjewadi was considered as an isolated location, but now it has become country’s one of the leading IT hub. This led to the infrastructure development and demand for the residential and commercial projects. Today Hinjewadi and areas around Hinjewadi such as Wakad, Aundh, Baner, and Pashan have become one of the prime locations for the real estate due to the increasing demands from people working in the engineering and IT sector. Similarly, other areas like Wagholi-Kesnand, Undri, Kharadi have become preferred destinations due to its proximity to Ranjangaon MIDC and IT parks of Kharadi. Similarly, Talegaon is coming up as a preferred destination for real estate investments due to its proximity to Chakan which country’s one of the leading auto and manufacturing hub

As far as investment in Pune’s real estate market is concerned buyers need to keep an eye on the following things:

Location and Connectivity: One thing that has dominated the mindset of consumers for years is the location and connectivity. Nobody wants to invest in an area that is far from prime locations where one needs to deal with a lot of travelling for day-to-day activities. For people who work in IT companies in Hinjewadi and those who frequently travel to Pune from Mumbai prefer buying properties in nearby areas like Wakad, Aundh, Pashan and Baner as the travel time to their offices is less and these areas are fully developed with amenities like malls, cafes, hospitals in its neighbourhood. Another important aspect of staying in this area is its connectivity to Pune Mumbai Expressway and proximity to leading educational institutes such as Pune University, Symbiosis, etc. Apart from Aundh, Baner, Wakad from western Pune, eastern part of Pune is also coming up as a preferred destination. Areas such as Wagholi, Kharadi, Undri which were being considered just as an extension to Pune are now being considered as the most preferred destinations for investment in the real estate segment. Prime reasons for this development are realistic property prices, emerging IT parks, development of the Ranjangaon MIDC and its proximity to the Pune Airport.

Segment: Segment-specific investment is important as buyers like to invest in properties which are suitable for their particular needs. For example, people who are interested in high segment are likely to invest in areas such as Aundh, Baner, Wakad and Hinjewadi as these areas offer luxurious projects with great amenities. Keeping in mind the point of affordable housing, it is necessary to understand the developments in areas like Wagholi Kesnand, Undri, Talegaon, which offer all the necessary amenities for the MIG segment under a very realistic price. Buyers often do their own research on areas and their offerings before taking the final decision. This is an individualistic approach as buyers prioritize their needs and budget accordingly before investing in a segment. This has led to builders offering various options in multiple segments to suit the needs of buyers and provide the best option possible.

Budget: One of the most important factors while planning an investment in the real estate segment is the allocation of budget. A frequently considered thought by a certain section of the buyers while purchasing a property is to invest in a decent carpet area located in the outskirts omitting the point of reach and the future value of the investment being made. It is important to understand that the price of a particular property is mostly dependent on the location and its connectivity with the nearby areas hence it is important for a buyer to plan and allocate the budget in a way that it would be beneficial for him not only in the present scenario but also in  future.