Famous as the ‘Oxford of the East’, the city of Pune, is also the district head quarters. Not only the eighth largest city in India and the second largest in Maharashtra it has also evolved as an important IT Hub and stands as a thriving Automobile Industry Centre.
In Pune, the past meets the present. This Cultural Capital of Maharashtra has witnessed a noticeable boom in real estate development. Its limits have expanded by leaps and bounds. With acres of land being roped in this city is expanding exponentially.
The growth is recording price rise too. Some of the major reasons why Pune is witnessing a run-up in property rates are listed below:
India’s Township City
Pune has been accoladed as India’s Township City as the city’s skyline is bejewelled with residences that are enveloped with all the benefits of the city while being devoid of its chaos. The ever expanding population of students and young professionals has resulted in the increase of demand for better homes.
A booming IT hub
The steady growth of the Information Technology sector has created a lot of jobs, making it a haven for young professionals. This not only has increased the demand for residential properties around the area, but it has also made positive improvements to its overall infrastructure. Pune is no longer just a paradise for pensioners; it is home to a large population of young professionals and students.
Rapid Growth in Infrastructure
Pune is seeing rapid residential development, driven by good connectivity. The suburbs have now transformed into some of the most well-connected and accessible areas of the city. The commendable infrastructure makes the city a perfect place to settle.
Oxford of the East
Pune University is the pride of the city. Fostering quality education this city is a host to renowned schools, engineering and medical colleges, etc. Pune is on its way to turning into the largest Education Hub in the country and hence is famous as the ‘Oxford of East’.
Queen of the Deccan
Located in the Sahayadri Hills, near the west coast of India, Pune is a fascinating city with a salubrious climate throughout the year. Pleasent environs all year round makes living in the city delightful.
Pune is growing as a metropolitan city, and all the above factors blended together, have given the city’s real estate market its resilience and strength. The increasing demand for residences has shaped renowned projects and has eventually led to a price-rise.