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Real Estate Market in Pune

 The real estate market in Pune is quiet a stable one and did not suffer much during the recession. According to real estate predictions, the reason was that the Pune real estate industry was always highly priced and therefore rising prices during recession had little impact unlike the cities of Mumbai, Kolkata, and Delhi. It is therefore a smooth sailing industry that has seen little ups and downs in the real estate market conditions in Pune. A vibrant city with a real estate boom and tremendous infrastructural developments, Pune really never saw a huge decline in realty prices.

 

As the properties in Pune continue to be heading upwards, there are no fewer takers. Prices of homes and rental rates have increased yet there is a population that is eager in investing in the real estate market. The reason could be the low interest rates of home loans or the apprehension that the prices will increase more in the future that there is a large crowd purchasing and selling property in Pune.

 

Commercial real estate market in Pune 

The emergence of the city as a new destination for IT and BPO related industries has opened up avenues for a lot of real estate activities. While corporate houses and software based companies are looking for commercial properties, the demand for office space is increasing. This has been the most compelling sign to the developers.  The rental commercial properties are on high selling pace. In the main commercial areas, A square feet of 1,000- 2,000 is on the second to fourth floor is priced between Rs 15,000-Rs 25,000 on rent depending on the location. Commercial realty in Pune fetches about 20-25 per cent returns on investment.

 

Residential real estate market in Pune 

A person wishing to own a residential house in the city must have information about the areas where construction work is going on. Even for purchasing a piece of land to construct an independent residential house, property news in Pune is an essential one. As Pune has a high standard of living, the middle-income group and the lower income people often faces a big challenge is terms of having affordable homes. This is the reason behind several developers like like Kolte-Patil, Gera Properties have announced the launching affordable housing projects in the city. These developers are planning to build 1 BHK and 2 BHK apartments that costs between Rs 10-15 lakh for above 800 square feet and Rs 5-8 lakhs homes for 550-600 square feet. 

 

Finolex Industries has decided to sell the premium plot of the special economic zone plot at Chinchwad in Pune to a US-based real estate developer and the deal is between Rs 350 crore and 400 crore to the company.

 

The table below shows an approximate rent value of property in the real estate market in Pune.

Areas Rental rates in Pune Ownership rates
Bhosalenagar 2 BHK- 925 sq feet Rs 16,000 -
Kalyani Nagar AC furnished rooms- 1750 sq feet Rs 27,000 Rs 16 lakhs
Pashan Sus road I BHK- 450 sq feet Rs 8000 rent -
Udaybagh 2 BHK rents start from Rs 9,000 up to Rs 25,000 -