Up until the 1990s, Pune was a pensioners’ paradise, thanks
to its affable climate and laidback lifestyle. While it still serves as the
go-to choice for retirement for people in Maharashtra, the demographics and
lifestyle of Pune have undergone a sea change.
In the late 1990s, Pune started emerging as an IT hub owing
to rise of BPO industry. As a result, the city saw an influx of young people
who had dreams in their eyes and a passion to make a comfortable future. In
order to meet the fuelling demand of the young population, a number of real
estate developers thronged to the city.
The real estate boom in Pune has continued ever since, helped
by a large student population and a growing reputation as one of the major IT
hubs of the country. Today, there is a demand of more than 45000 home units
annually in Pune, which is a significant rise from 20000 home units about 2
years back.
A number of quality real estate developers are meeting this
high demand for real estate in Pune. One such developer is Clover Builders,
which has been in the field for more than 30 years. Some of the flagship
projects of Clover Builders include Clover Hills Kondhwa Pune, Verde pune,
and Clover Hills Plaza NIBM Pune.
Due to its changing demographics, the kind of construction in
residential projects in the city has also undergone a change. While a decade or
two back, the focus was on budget housing, today, it is about giving the young
generation large apartments with most modern facilities and amenities.
A good example of this is residential homes in NIBM, Pune.
Residential homes here are defined by spacious design and immaculate
facilities, which is what people in 20-35 years age bracket are demanding.
Pune real estate market
as an investment opportunity
2013 was not a very good year for real estate market in
India. Owing to high inflation and low growth, people were reluctant to buy new
property. However, Pune belied this general trend across the country.
Instead, Pune saw a steady real estate market, with good
demand and rational pricing. When a city does well in a lean year, expectations
can only be high for the future. The coming of Modi government spells a good
sign for the real estate market in Pune.
The city is expected to have high demand and growth across
different real estate segments. Land on the outskirts of the city is still
cheap, which allows developers to offer affordable housing.
While there is great demand for entry-level housing, the
demand is expected to be equally good for luxury homes and apartments. Thus,
investing in projects like Clover Hill Plaza NIBM Pune and other such projects would be a
good bet.
While the city continues to grow as an IT hub, the real
estate demand here is primarily in the residential sector. Thus, you would do
well to invest in residential projects in well connected areas of the city,
such as residential homes in NIBM, Pune; residential projects in Kharadi and
Wakad etc.
The average price range of residential projects in a well
connected area such as Kharadi is around Rs 5500-6000 per square feet. Backed
by good infrastructure, you should be able to make good returns on your
investments in such areas. The same goes for residential homes in NIBM, Pune
and other areas.
The Conclusion
If you want to ride the real estate boom in the city, opt for
good developers who have been in the market for some years now. Clover Builders
is a case in point.
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