Pune's Growing Real Estate Market

Tuesday, October 17, 2006

Pune's Growing Real Estate Market

Pune is India's fastest growing Industrial and IT automation sector.
The city has witnessed massive growth in the last few years in the real estates and properties segment and is still continuing the same trend. It is said that Pune in future is to be seen as Benchmark for developing business centre. Other than it's major counterparts like IBM, HP, Wipro etc. there are lots of small companies too. Moreover Mumbai's proximity and well developed business centre has proved to be one big advantage to pune. Due to the over-crowded population of Mumbai, many buisness heads are heading for pune as their top notch location. According to Gary Garrabrant, chief executive officer of Equity International, a real estate development firm, companies are on the look out where there is Scope for development and low capital market. Cities that are Smaller in Size & suitable for development are what attracts business heads as compared to those that are over populated as well as polluted. Lack of Basic infrastructure, Communication barriers (english - being the primary language of foreign investors) & lots of corruption have led to the exclusion of many a developing cities. Considering the impact of city's social environment and life culture, more and more people all over India and World are migrating to Pune. Investing in real estates in Pune and areas surrounding Pune, is worth taking a chance as it has certainly been investors delight. Indians and NRI's looking forward to have secured returns on their investments can certainly look towards to invest money in Pune. Few Hot areas of investments in real estates in Pune could be buying service apartments, open plots or flats/apartments in the most upcoming areas in Pune. Some of the fastest upcoming real estate locations of Pune are NIBM, Hinjewadi, Kalyaninagar, Aundh, Bund Garden, Vimannagar and Koregaon Park.
For the complete solution to real estate log on to http://www.puneproperties.com

posted by Aashish at 12:27 AM

17 Comments:

  • I certainly feel that although the real estate market is growing at a lot of places, cartels are being formed by construction companies and rates are being hiked up by these cartels. IT has become very difficult to buy a good 2 BHK flat/apartment for less than 25 Lacs in Pune/even on outskirts of Pune.

    By Anonymous Anonymous, at 1:42 AM  

  • What's great in Pune ? Mumbai is far superior than Pune for High profile jobs still it is economical than Pune for real estate. If any guests visit me its very difficult to take them around since there is nothing great in the city. Poor infrastructural developments like Road,Public Transport, Traffic, Sewage, Water & Electricity.

    Also it seems that the price hike in real estate is artificial one which is created by politicians & builder lobby.

    By Anonymous Anonymous, at 2:20 AM  

  • Dear Friends,
    Read this carefully. Don't buy property in Pune now atleast for one year since Builders, Politicians, Beaurocrats lobby can not survive only on IT/BPO/Call centers who are in minority.Unless we stop buying property in Pune which is irritating/illogical/not worth/no value to our money , this artificially inflated bubble boom will not burst.
    So friends postpone yr decision & see the miracle

    By Anonymous Anonymous, at 2:32 AM  

  • Dear Anonymous,
    Great advice. You have done a correct analysis & we have decided not to buy the property in Pune unless this ballon boom bust. Thnx for yr advice.

    By Anonymous Anonymous, at 2:35 AM  

  • Dear Anonymous,
    I think you are right. To certain extent there is heavy lobbying and becuase of poor vision of software guys who paid whatever price was asked by builders, middle class is into trouble. People should certainly stop buying property to bring this market down.

    By Anonymous Anonymous, at 1:49 AM  

  • Economy is growing -NRI are coming--foreigners are pouring --law and order is losing--Rates will continue to rise-- unless people take to streets to force govt to make available affordable housing for all--Hang all the builders on Parvati Hill temple to bring down the rates

    By Anonymous Anonymous, at 6:56 AM  

  • Totally agreed that the prices are hiked up and it is the builders who are benefiting from this. Any of the genuine resellers are not geting even the market rates whereas the builders are continuously increasing the rates. In other words there is not much appreciation if we have to sell the flat.

    By Anonymous Anonymous, at 6:12 AM  

  • Dear Friends,
    The bubble of real estate will burst by 2008-2009.So the prices will remain almost the same as of now later on.Please don't buy any apartment in the year 2008-09 as the rates will start collapsing & you will stand to lose as the real estate bubble will burst.

    By Anonymous Anonymous, at 11:02 PM  

  • I visited Pune in December '06 for 3 weeks and did a bot of research for properties. Rates of Rs. 4000-6000/sq. ft for a decent neighbourhood seemed very common. This is more than $90-140/sq. ft.. One can buy a house (with a bigge rplot) in Houston adn with all due respect, the infrastructure in Pune is not even 20% of that in Houston. While such a comparison & expectation itself is not needed, I realized that since the common man is not anywhere to be found in these transactions, IT folks, NRIs, businessmen and those w/ black money are the only ones involved in these transactions. It is becoming a bubble that will burst soon and then prices will stagnate for 5-8 years. This happened in mid 90's also.

    By Anonymous Anonymous, at 1:45 PM  

  • Whatever, but middle class people like us are suffering now, just because of all this.

    By Anonymous Anonymous, at 8:38 AM  

  • if govt imposes more tax on NRI folks(Mostly IT folks) when they invest their easily earned money(its not hard earned money, getting money in software job is very easy, any fool can get it), this will atleast let the IT folks to think before throwing their $$$ for indian property market and indirectly bring down the prices down for middle class property buyers.

    By Anonymous Anonymous, at 6:04 AM  

  • Somebody said correctly getting money in IT is very easy since Indian comps gets money in $$ & after conversion in Rs. its manifold. In reality aprx.5% workforce is creative/innovative rest of the crowd is just following n doing cut/paste/copy ( CCP)It is not a hard earned money for them hence it does not carry much importance to ITiens/BPO/Call Centerian & spending w/o sense which they will realise once they get bankrupt.One more imp thing wherever IT enters that city becomes very costly in all facsets & common man just suffers. Now Candigarh is experiencing the same phase since IT parks r under construction. I won't understand whether IT is boon or curse which is making our life misarable. Gentlemen just wait n watch due to the hike in interest rates also the day is not far ahead to burst this thin bubble.

    By Anonymous Anonymous, at 4:35 AM  

  • Dear Friends,
    I completely agree with you. Buy now (that tooo if it is your first house) or wait till late 2009 for prices to drop. If you buy now at least it would be a no loss,no profit basis (for investment. No prob for first time buyers now). See what happened in Delhi-NCR. The prices have crashed by 15%. All the best in making your decision. It's buy now( before April 07) or after 2009.

    By Anonymous Anonymous, at 1:22 AM  

  • I beleive the market is healthy and one should not wait..too add to woes as one would never be able to buy and higher price in future..this attributable to multiple healthy factors such as booming economy yet stable economy..FDI figures shows billions of dollars to be pumped into India and specifically pune-mumbai is receiving a larger share...if you miss now you will miss forever..look at mumbai...prices there averages 5000-7000 in andheri-borivali and 11000 in powai..even then one sees buying happening at those levels..pune service class is no less than mumbai in terms of salary, perqs and have a better option in terms of affordibility..so its an opportunity and just grab it..you will realise the returns 2-3 years down the line..the bubble burst in 90s was justified beacuse of weakening of economy signs..but today its is exactly opposite..have we ever heard sensex climbing all the way to roof at 14000 levels..never..this is a very good indicator of Indian scenario in every aspect and real estate too..i have invested in 2 properties in each of these cities and i feel it is wise to do so and after much due diligence. thanks

    By Anonymous Anonymous, at 12:52 AM  

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    By Anonymous Anonymous, at 4:11 AM  

  • Nice post. Some more information available at : http://nehalshah.blogspot.com/2006/03/real-estate-greenfield-pune.html

    By Blogger Nehal Shah, at 9:33 PM  

  • How do you think, about the variety of opinions Top Selling Real Estate Market in many countries today, whether to increase or decrease?

    By Anonymous Anonymous, at 5:57 AM  

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