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Housing in Pune


 
In the recent past Pune real estate investment has been high as the banks are now offering fixed deposits, low interest rates, greater returns on the mutual funds and the like. Being located on the outskirts of Maharashtra, Pune is reported to be one of the fastest growing commercial as well as residential cities in India. Year on year, the city has shown substantial progress on the real estate front; irrespective of whether the development was that of a shopping mall, entertainment outlet or a plain building construction. The development in real estate or housing in Pune has always been significant.
 
A significant step towards the expansion in the housing sector in the city is being carried out for the year 2010. Despite being a small part of Maharashtra, if you take a quick overview of Pune you will find a series of malls, huge buildings, housing and residential complexes that have come up over the years.
 
Real Estate trend in Pune
 
Analyzing the growth and expansion, and the flourishing nature of real estate in Pune, the Government of India, has relaxed policies pertaining to FDI. Pune real estate sector over the years has shown its caliber. At the same time the real estate spots or plots in the city are becoming the most coveted ones by the students, young professionals, residents and others who live in the city or immigrate.
 
Market analysts report that if the present pace of progress is maintained then in the near future the city might witness the biggest expansion in realty. More and more people are opting for housing in Pune. The housing options are quite reasonable and are supported by different loan schemes.
 
Real estate prices in Pune
 
Pune is known as the second largest city in Maharashtra and is popularly called the “Tech City”, owing to the growth of the IT companies over the past few years. At the same time it’s a student friendly city and a center for education. There are several famous colleges and institutes in the city of high reputation where students from various parts of India seek admission.
 
Real estate in Pune is mostly dominated by the residential accommodations and commercial plots, for major IT, automobile industry, BPO, KPO and the like. New residential projects of late are also being undertaken in places like Aundh, Kothrud and Baner.
 
The central zones like Model Colony, Boat Club Road, and Koregaon Road have steep property costs. The realty cost structure is represented below in a tabular form as of January 2010, and are subject to market changes.
 
 
 
 

Rental Value
 
 
Locality
Apartment 2BHK (Rs/month)
 
 
Jul-Sep’09 (%)
Jan’10
Suburbs (4)
-3 to 2
5000-10000
North (6)
-48 to 8
4000-17000
Central (5)
-7 to 7
6000-15000
South (4)
-7 to 6
4000-10000
West (2)
-2 to 18
8000-20000
East (3)
-17 to 6
5000-16000
 

Capital Value
 
 
 
 
Locality
Apartment  (Rs/sq ft)
 
Plot (Rs/sq yard)
 
 
Jul-Sep’09 (%)
Jan’10
Jul-Sep’09 (%)
Jan’10
Suburbs (4)
-17 to 3
2000-3600
-8 to 6
4000-16500
North (6)
-13 to 12
2500-10500
0 to 35
3000-25000
East (3)
2 to 7
2500-10500
-13 to 11
2500-25000
West (2)
-2 to -13
2500-8000
-5 to 0
12500-30000
South (4)
5 to 22
2400-4500
0 to 19
2500-20000
Central (5)
-4 to 17
2200-6500
0 to 3
3500-20000
 
 
Real Estate Developers of Pune
 
The real estate developers and the builders work towards developing and taking charge of buildings in Pune, both residential as well as commercial. They frequently invest in and around the city and initiate new housing and other commercial projects.
 
They work for corporate entities as well as individuals. The real estate agents in the city also offer assistance and guidance related to various aspects of property management in the city.
 
The present Pune real estate costs are bordering around Rs.1000 per square feet. A high class apartment in the city for lavish and elegant living costs at times is more than 50 crores.
 
Some of the eminent names of the real estate companies are:-
 
  • Shalimar Real Estate
  • Oxford Properties
  • Rosmin Real Estate
  • Balaji Real Estate
  • Aim real estate
  • Siddhi Ganesh Real Estate
  • Knight Frank India Pvt Ltd
  • Paranjape Schemes Const Ltd
  • Achlare Associates
 
Residential Projects in Pune
 
The real estate builders and developers are working toward setting up new residential projects in Pune. Therefore, if you are planning to opt for options related to housing in Pune, then you have a host of choices to choose from now. Some of them have been listed below:-
 
  • VIP Towers, in Balewadi Pune, has mostly 1 BHK accommodation facilities with other civic amenities. The price is tagged at Rs.18,51,000 to Rs.18,17,000.
  • Chaitanya Platinum in Balewadi, that is a lavish residency offering its target consumer state-of-the-art amenities. The accommodation is priced at Rs.39, 51,000 to Rs.50, 25,000 presently.
  • Flora City in Talengaon, that is an independent House Villa
  • Gemini Riverfront in Aundh.
  • Solver Sky Scapes located at Wakad is a residential apartment offering facilities in 2 BHK’s and are priced at Rs.35, 62,000 to Rs.49,39,000.
  • Saarrthi Signor at Hinjewadi, mostly comprising 2 BHK’s over an area of 1083 square feet and 3 BHK’s over an area of 1336 square feet. The residential apartment is priced at Rs.30,37,000 to Rs.37,10,000.
  • Swapna Sankul in Saudanagar priced at Rs.18,02,000 to Rs.27,04,000.
  • Saarrthi Satin Hills at Bavdhan priced at Rs.35,95,000.
  • Saarrthi Shilp located at Kothrud, priced at Rs.41,93,000.
  • Sky Vie located at Viman Nagar, is a residential project that occupies an area of 3 acres of land. The residency is a cozy structure of 8 towers with 3 BHK accommodations and is priced at Rs.1, 05, 00,000.
  • Gini Bellissimo located at Dhanori priced at Rs.24,92,000 to Rs.56,96,000
  • Malpani Greens located at Wakad.
  • Ganga Sparsh located at Udiri.
  • Citadel Empress located at B.T.Kawade Road.
  • Park Island located at Shastri Nagar.
 
Most of these residential accommodations are 1-2 BHK having basic amenities. Some of the residences are 3 BHK and provides other amenities like parks, jogger’s area, club house, restaurants, shopping complex and the like at a reasonable rate. Thus, we see that Housing in Pune, in the present day and age is not only in a flourishing stage but also affordable. The realtors and the builders are coming up with better projects with every passing day, to cater to the housing requirements of the people.