Transformation Of Pune’s Suburbs Into City’s Property Market

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Property Market

Pune is the second busiest city in Maharashtra and second largest city in India. Due to the sprawling development of the IT industry here, the demand for property in Pune has also seen a sudden boost. The newcomers or people hunting for new homes can get numerous affordable housing solutions with ready to move in option as well.

As compared to its counterpart, Mumbai, Pune’s real estate industry is rapidly and spatially growing with the constant welcome of newcomers from various states in India. The city with constant absorption of side-by villages is on the way to surpass Mumbai’s graph. Due to the same reason, the suburbs are experiencing the highest affordable rate to mid-range housing solutions or property in Pune.

There are many other suburbs which are way more affordable when compared to others in Pune and show constant performance. The areas that are close to city’s IT/ITeS vicinity perform best as they are highly demanding among the buyers coming from out of the state for employment. The properties in such locations also demand high price range and offer better physical and social infrastructure. Due to significant demand among the buyers, the infrastructure of this place is seeing constant improvement and development.

Suburbs Vs Central Locations

It’s actually opposite to the general belief when profit lies with the suburbs instead of central locations. Most of the people tend to buy their housing estates or properties in the city central areas. Whereas, the affordable and assorted housing option lies in the city skirts or suburban areas. The proximity to the central business district and secondary business district remains highly expensive to the common people or people coming from the other states. Also, the developers invest a very small portion in central areas as those plots can accommodate only a limited number of flats which decreases the returning investment amount.

As the space in these plots is very limited, developers are also restricted to develop any useful or advanced amenities to attract the buyers. Due to such construction real estate projects, the ultimate product comes as tiny and restricted residential property in Pune without any lifestyle and modern amenities.

Opt For Good Residential Destinations

One can choose following suburban areas of Pune to get modern facilities and amenities with the assorted options in housing system:

1.    Ambegaon

2.    Undri

3.    Hadapsar

4.    Baner

5.    Wakad

6.    Hinjewadi These areas are popularly selected by the mass from Pune’s burgeoning IT/ITeS sector people or employees. They have become residential and commercial real estate in the city with budget-friendly price options and housing systems such as 2 BHK flats or special features.