Along with Bangalore, Pune has been identified as one of the preferred destination to invest and buy property in India or even to stay. Its close proximity to Mumbai, has attracted several corporate houses, IT companies and educational institutions to get established in Pune, which in turn has encouraged a huge population from different regions. Being a rapidly developing and evolving city, it is less expensive and offers all sorts of convenience and facilities like Mumbai.
Though the main city is saturated, yet the suburbs offer a good property option to buy or invest with better appreciation value. The suburbs are also a good option for rental purpose as the rents are comparatively less for being away from the city. These areas are well connected with the city and are equipped with all modern amenities. This is why not only the main city of Pune, but its suburbs also buzz with new residential developments to meet the demand of the buyers and are experiencing an extraordinary growth in the real estate sector. Thus, if anyone wants to shift to Pune where the main city is already flooded, then he/she can opt for Pune properties in the suburbs which offers the best option at a good price.
However, the establishment of the corporate hubs is one of the main reasons for the real estate growth. The IT sector offers good remunerations to its employees, which has changed the spending power of the residents who comes from different parts of the country. This has further transformed the property sector into an affordable one, making it easier for the workforce shifting there or the students who have moved into the city for study purpose to own, invest or rent a property.
This increase in the population has led to rise in demand of properties and has also Pune market more affordable. Also, several huge infrastructure developments in the pipeline such as proposed international airport and metro rail plan are a delight for the developers and for the residents, buyers, investors and those who want to relocate by renting. Overall, localities near the commercial sector or IT hubs have been witnessing the maximum demand in terms of both rented or owned accommodation.