Pune is known as the Queen of Deccan because of its historical, political, social, and cultural importance as well as due to its picturesque surroundings in the Deccan. The past few years have seen the massive transformation of the city as far as real estate development and construction is concerned. Owing to big-scale investments from international companies, Pune has witnessed an influx of people from across the country. This has resulted in a surge in the demand pertaining to the real estate sector.
The Advantage Of Surroundings
The geography of Pune has the advantage of having its surroundings dotted by many small and big villages and it is making full use of this advantage by absorbing them within the city limits. The boundary line of the city has extended exponentially in the last decade itself. There are full chances that the city will soon overtake Mumbai in terms of development. Even today, the suburbs of Pune account for a massive geographic spread, where there is an unprecedented surge of affordable residential developments. Living in the suburbs is far more affordable and far less congested as compared to a metro like Mumbai.
Availability of Educational And Professional opportunities
Pune is one of the topmost cities as far as the Information and Technology industry is concerned. A lot of this too attributes to the city’s geographical location. There are many other favorable factors at play too. One of the signs is that the population of Pune is regionally very diverse. People from all over India can be found in a large percentage of the city. This influx of people in the region from different states and regions is due to a variety of reasons. The prominent amongst them being the presence and rise of the automotive industry, the national repute technology organizations like NCL, DRDO, IITM, ARAI, and many high class and reputed educational institutions like Symbiosis, FTII, NIBM, AFMC, COEP. Due to exceptional education and professional opportunities, Pune has emerged as a go-to place for people from the length and breadth of India.
Proximity to Mumbai
Another reason for the growing real estate market in Pune is its proximity to Mumbai. With the metro being just a 3-hour drive away, it almost feels like an extended drive to most Mumbaikars, who are used to distances. Here it must be noted that 60% of buyers of properties; whether for personal and residential use or for the sake of investments; are from Pune, while the remaining 30% are from neighboring Mumbai. Pune is preferred by people as it is a very comfortable and attractive counterpart to a very expensive Mumbai real estate market. Buying a property in Pune would afford more space at an almost half rate than what it would be in Mumbai.
Proximity to Holiday Destinations
Whether Hill stations or beaches, Pune boasts of being in close proximity with them all. Many famous Hill stations like Mahabaleshwar, Matheran, Lavasa, Lonavala, Khandala, and many others are within 150 km of Pune. One can make a weekend trip to many beautiful beaches of Konkan and Ratnagiri. For trekking and hiking enthusiasts, there are many forts like Sinhagarh, Lohagarh, etc. During monsoons, these places offer the most breathtaking views. Apart from these, the city is dotted by many lakes within and surrounding its periphery. Lakes like Mulshi, Panshet, Khadkwasla are some of the astoundingly pretty lakes. The city itself is covered in green forest, courtesy of being in the foothills of the Sahayadri Mountains.
Astonishing Nightlife and Comfortable Lifestyle
Pune has a comparatively younger crowd in comparison to other major cities in India. Hence, the hangouts here are top-notch. There are world-class pubs, breweries, and restaurants. Everyone from professionals to students, groups to couples can find someplace to hang out, without it being too hard on the pocket. Places like Penthouse, Area-51, Mi-A-Mi, Hard Rock Café are some popular places to chill out.
Being the second biggest city in Maharashtra hasn’t made Pune as expensive as its number one counterpart, Mumbai. From the rates of the property to the general lifestyle, Pune is comfortable in the pockets of the middle-class salaried person.
Another big quality in favor of the city is the safety feature which it has to offer to all. Whether it is staying out late nights or gelling with outsiders, Pune rises up to all safety protocols. Moreover, traffic is less and transportation is quite cheap. The presence of Army Cantonments ensures the safety, cleanliness, and presence of green zones within the city. The state of law and order is also commendable.
All these geographically positive factors contribute to making Pune a dream for all real estate developers. It has become one of the fastest developing cities in India, as far as real estate is concerned.