Pune
- Mumbai
- Pune
- Ratnagiri
Asia's most significant industrial hub- Pune, is renowned as the 'Cultural Capital of India' and the 'Detroit of India.' In the western Indian state of Maharashtra, Pune is a booming industrial and urban metropolis nestled amid the Sahyadri Hills. It is the most populous city in western India. Pune is the most well-known industrialised and IT-driven metropolis globally when it comes to metro cities. India's Ministry of Housing and Urban Affairs ranked Pune second on the 'Ease of Living Index 2020' in 2019. Due to the significant number of migrants and educational institutes in the city, it has a vast pool of qualified human resources. In the last two decades, the city has become a home for many migrants from all across the country, transforming it into a global metropolis.
Despite being an IT-driven city, Pune serves over 400 industrial plants in Chinchwad, ranking 6th among other Indian cities in terms of income per capita. In the last three years, the city has seen significant absorption of office space from manufacturing, banking, and the IT-BPM sector, resulting in an ancillary rise in office spaces and support services, forming a hub-spoke structure of the tertiary industry. Tata Motors, Mercedes-Benz, JCB, Bajaj Auto, Volkswagen, Mahindra, Bridgestone, and Hyundai all have production units in Pune's suburbs, making Asia's most prominent manufacturing centres.
The city has grown tremendously in recent decades, and surrounding areas such as Talegaon, Chakan, and Pimpri-Chinchwad have emerged as important development hubs due to these areas' immense industrial growth potential. Due to population expansion, expanding real estate, socio-economic progress, and infrastructural advancements, Pimpri Chinchwad is Pune's fastest-growing suburb and India's fastest-growing city. This prospective micro-market consists primarily of IT, BFSI, the motor and vehicle industries, students, and others. This area is part of the Pimpri-Chinchwad Municipal Corporation, or PCMC, and is well connected to Pune and Mumbai thanks to the old express highway.
Pune has been awarded Rs 650 billion as part of India's smart city project to develop a Metro train link, a new airport terminal, and a ring road over the next 7-8 years. This would pave the way for new flyovers and highways and an international exhibition and convention centre, the Mumbai-Pune hyperloop, the Satara economic corridor, and other regional infrastructure projects.
Pune Nodal Analysis: The analysis rules out access to the Pimpri-Chinchwad node in the Pune region's real estate potential. Distance from the airport, nearest city train station, Pune Rainbow BRTS network, access to the metro rail station, smart city mission, Pune outer ring road, and air connectivity to the Pimpri-Chinchwad area are all factors that influence this research. Because of the ROI, real estate activity and surrounding growth in this area and rental and selling rates appreciation have been redefined.
Pune, dubbed the "Oxford of the East," has become a popular destination for new Indian tech start-ups. Surprisingly, it is also a preferred destination for over 110 prominent worldwide information technology businesses, with headquarters in Hinjawadi and additional offices in Kharadi, Viman Nagar, and other parts of the city. As a result, Hinjawadi has seen one of India's most rapid commercial and residential developments.
More young, mid-level, and senior-level IT workers from other cities choose Hinjawadi as their preferred base, the area's and neighbouring areas like Wakad, Bavdhan, Baner, and Balewadi's appreciation rates have skyrocketed. For example, between July 2016 and January 2018, the rates in Hinjawadi increased from Rs 5707/sq.ft to Rs 5818/sq.ft ( source: Makaan.Com). And it's only going to get bigger in the following years. This ensures a decent return on investment for Mumbai real estate investors.
Pune attracts job seekers from across the country as well-known information technology and automotive industry. As migrating professionals are always searching for suitable rental houses, your property investment in Pune would almost certainly provide you with a robust second income from rentals. Here, luxury developments are a bonus.
Pune is getting a massive renovation in terms of infrastructure. The Pune Ring Road, the Bus Rapid Transit System (BRTS) on the Pune–Mumbai Highway, and the most prestigious- the Metro Project connecting PCMC – Swargate, Vanaz – Ramwadi, and Hinjawadi – Civil Court- are all in the works. The Hinjawadi – Civil Court line Metro project has been prioritised for construction.
Pune boasts a temperate climate compared to Mumbai, its neighbour, and most other Indian cities. This means it is never too hot or too cold in the summer or winter, making it one of the most comfortable towns to live in. Sai Krishna claims that the pleasant weather in Pune entices him to return and that the presence of green-covered mountains enhances the city's environment.
Pune is a popular tourist destination because it is close to several old forts and hill stations. As a result, Pune attracts many visitors from all over the world, boosting the city's real estate market.
The city's rich heritage will take you to a time when the Peshwa and Marathas reigned supreme, from majestic palaces and forts to intricately carved temples. The city's architectural splendour can still be observed today, providing a look into its historical significance. Pune is a famous tourist destination because it is close to various ancient forts and hill stations. As a result, many tourists from all over the world visit Pune, adding to the city's real estate boom.
Pune has a younger population than other major Indian cities, thanks to its hundreds of educational institutes and IT industries. It's no surprise that such a city will have fantastic places to visit. World-class bars, breweries, and restaurants can be found in the city. From students to professionals, couples to groups of friends, everyone can find a perfect location for their needs, especially within a reasonable budget. Top choices include Penthouse, Area-51, Mi-A-Mi, and Hard Rock Cafe. The city's Koregaon Park region is known for its nightlife and has a large number of party venues. It's no surprise that young people consider this to be India's best city to live in.
Pune has been designated as Maharashtra's cultural capital. It is the cultural capital of Maharashtra, with great aesthetic festivals such as Ganesha Chaturthi and Janmashtami. The city's famous Dagdu Seth Ganapathi Temple is one of India's most famous religious destinations. With Ganesh Chaturthi being the most important celebration of the year, one can witness Pune's genuine aesthetic appeal. The enthusiastic atmosphere is created by Dhol Pathak performing at the Ganesha Utsav. During Janamashtmi, all big Bollywood superstars attend the Dahi Handi festival.
Balewadi, in Pune's Western Metropolitan Corridor, is an affluent neighbourhood. It is home to the Shree Shiv Chhatrapati Sports Complex, which has held a number of national tournaments. In the neighbourhood, a museum devoted to Sachin Tendulkar is also being planned. If you're moving to Pune, look at Balewadi Hostels.
Many of Pune's leading colleges are located in Dhankawadi, which attracts a considerable number of students each year. Stanza Housing's fully-furnished PGs in Dhankawadi are one of many economical living options in the neighbourhood. Rajiv Gandhi Zoological Park also features Katraj Lake, a snake park, and an animal rescue sanctuary. As a result, it is home to a variety of wild animals, not simply students.
Dhanori is a fantastic location, especially if you travel frequently. It is conveniently located near the Pune airport and provides excellent access to business districts such as Yerawada, Kharadi, Viman Nagar, and Kalyani Nagar, among others. And don't be concerned about all the IT company buildings if you're thinking about remaining here. The Vishrantwadi lake in the neighbourhood more than makes up for the lofty structures.
It is one of Pune's most important IT parks. As a result, many employees naturally choose to live in the surrounding neighbourhood. However, as time passes and the region develops, it becomes increasingly popular among students. Numerous PGs and coliving places provide services at a low cost. It's a hit with students and IT professionals alike.
Karve Nagar is the fastest-growing residential neighbourhood in Pune. There are a lot of PGs in Karve Nagar as well. It's probably because it's accessible from all of the city's important points:
The Pune city centre
Hinjewadi IT Park
The Mumbai-Pune expressway
The Mumbai-Bangalore Highway
It's no surprise that the cost of real estate in this area continues to rise.
Kondhwa is a powerhouse of amenities and is undoubtedly one of the nicest areas to reside in Pune. Water is available at all times. Good educational institutions. Hospitals and restaurants are two examples. In Kondhwa, there are also PGs. Swargate bus station and Pune Railway Station are also nearby. You can get a bite to eat at your favourite cafe before hopping on a bus or train to another city if you live here.
The list can go on and on! (Wait for part 2!)
All of this indicates that the city has a lot more to offer than you might believe. It is now time to put the ancient adage "Don't wait to buy real estate, buy real estate and wait" into practice. Because real estate in Pune is increasing rapidly, it is easier to acquire a home in Hinjawadi (the most happening "IT" region) today and appreciate its worth over time, rather than waiting until it gets prohibitively costly.
Pune is a city that combines natural beauty, elegance, and convenience. Take advantage of living in a sought-after location. Pune city is, by and large, one of the most rewarding investment places in India.
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