Pune is one of India's fastest growing cities, with the largest metropolitan economy. It is ranked eighth in the country. Pune is also known as an educational, IT, and industrial powerhouse, all of which are important for the city's economy. According to the Ministry of Housing and Urban Affairs' Ease of Living Index 2020, Pune is the second easiest city to live in. Pune was named one of the top 100 cities in India's smart cities initiative, boosting the city's long-awaited improvement in urban infrastructure. In the next five years, major infrastructure projects including the Ring Road, Metro, and Airports are expected to be completed.

The city provided corporations with the necessary space and infrastructure for IT/ITes. The information technology corridor stretches from Hinjewadi to Kharadi and Magarpatta. Pune is home to around 85 percent of India's information technology industries. Additionally, it is growing as a preferred destination for technology start-ups, with 3200 active start-ups situated in Pune. Pune has been designated as a "Emerging Global Start-up Hub" by the Center for American Entrepreneurship.

Life in Pune

Pune is a desirable place to live and work due to its expanding global culture and robust physical and social infrastructure. Real estate development is critical to ensuring a decent standard of living for Pune inhabitants. Low rental rates and the availability of affordable housing enable employees to live close to their places of employment, reducing commuting time.

Pune's present population is approximately 6.5 million, with an annual growth rate of 2-3 percent. According to statistics, Pune's population will reach approximately ten million by 2030. Over the last decade, an increasing number of individuals have come to Pune for education and work possibilities, resulting in a constant need for residential and commercial space in the city. Demand for retail space has increased proportionately. Notably, considering the high per capita disposable income and the strong spending proclivity of the young population, Pune's retail market has enormous potential to expand further in the coming years.

Investing in Pune's Real Estate

It is believed that individuals ready to invest in real estate have a big potential. At the moment, home prices are at their true worth, and builders are offering purchasers a variety of financing options. Additionally, lower mortgage rates and supporting state-level policies such as stamp duty reductions have offered a much-needed incentive of the hour. Given the current state of the economy, now is an excellent moment to invest in real estate in Pune.

Excellent educational possibilities, a thriving service industry, and Pune's reputation as one of the most livable cities in India all draw migrants from throughout the country. This enhances the city's residential real estate demand. Additionally, Pune is one of the most affordable housing markets in the country, which adds to the city's allure for end users. The city offers an ideal mix to prospective homeowners, with a healthy supply of low and mid-market homes from reputable developers, increasing house purchase affordability, and the possibility to reside in one of the country's most liveable cities. This combination positions Pune as a market poised for rapid growth in the future years.

Popular Locations To Reside in Pune

Conclusion

Even though the Covid 19 pandemic had an impact on the Pune real estate market, it is certain that the City is ready to rebound and bounce back at a rapid speed, similar to how a compressed spring returns to normal once the pressure is released. This means that the city has a lot more to offer than you might believe. Now that you know if it is a good time to invest in the residential property of Pune, you will be glad to know that we are here for your home buying assistance from beginning to the end. You can totally rely on Dwello, with highly classified real estate consultants, and real time statistics, we are specialists in handing over the right home to you.