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The following article focuses on the investment returns that the city of Pune has to offer in the real estate sector Popularly known as the Oxford of the East, Pune is home to some of the best educational institutes of the country. The final decade of the last century witnessed the Information Technology (IT) Revolution that swept across the country. Pune also felt the heat and related industries like the real estate started growing in leaps and bounds. The IT revolution led to the construction of world class office spaces which in turn affected the real estate sector. Commercial as well as residential real estate recorded a boom. Since the IT revolution created several job opportunities in the city, many single professionals started moving to Pune. This led to the increasing demand for residential spaces, especially flats on rent in Pune. Pune is one such city that has been witnessing a consistent growth in the real estate sector and of late has acquired the status of a key city that is good for residential investments. The main factors that have been instrumental in pushing Pune real estate market happen to be good economic drivers and healthy consumer demand. Other factors that led to the increase in demand in the residential real estate are the current advancements of the service industries and the automobile sectors. An increase in the population of the city has led to the scope for the demand of rental properties in the city. The central part of the city has recorded much development pertaining to the real estate market. Now, the focus has shifted to the fringes of the city. Studies show that people looking for flat rental in Pune are shifting focus to the regions lying in the boundaries of the city. The rental prices of 3BHK flats in upmarket localities in the city have increased by 16% as compared to earlier flat rental rates. This has proved that investing in a residential property in Pune is bound to yield good results. It has also been noticed that the Pune rental property market is comparatively strong and they usually offer great returns of interest rates. Of late, the practice of rental flats in Pune has soared tremendously. Especially the western part of the city such as Deccan Gymkhana and Shivajinagar are the best options for renting out accommodations. Moreover the western part of the city has recorded an increased rate in the rental prices. Areas like Kalyani Nagar have gone up to around 15%. The reason behind this happens to be the lack of fresh rental projects and also the gap between demand and supply. This led to the increase of the rental value. The IT revolution has recorded a huge number of migrants in the city which in turn has led to the demand for 1BHK flats in the city. This is considered to be a good time to invest in properties in Pune as the rent or lease the properties as the rental prices are going up and are predicted to increase in the near future yielding better benefits. Henceforth, it is expected that investment for residential properties in developing cities like Pune will fetch larger amounts with the passage of time. Author Bio: Sampurna writes on behalf of 99acres.com. An Online Property Portal offers buying, selling and renting in Indian real estate domain. It also provides Information on residential and commercial properties, apartments, rental homes, flats for sale in Pune etc.
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