Pune turning out to be a sustainable luxury market

Q: It looks like Pune is becoming a viable destination for high end luxury projects.

Deepti Baragur, Pune

27th February 2014

Real estate News in Pune

price list regarding built up area

price appreciation

pune apartments

pune real estate

price details

pune real estate market

Follow Discussion

Also see discussions for

Pune Real estate News Real estate News in Pune

Replies (6)

It is because many MNC's setting up their offices in the city, infrastructure has changed a lot day by day.

Dimpi, Mumbai

4th March 2014

Comment

Hi Priyanka,
Pune is not only shaping up as a better luxury market than neighboring Mumbai but the potential is better than that of Gurgaon as well. Huge employment opportunities have made this city an attractive destination. The prices are much better than in Gurgaon, and so is the infrastructure that is quite ahead of Gurgaon.

Wasim Mohammad, Pune

27th February 2014

Comment

Salaam Vaalekum,
Moreover climatic conditions have always been an edge for this city. It now has everything; world-class hotels and recreational facilities, malls, employment opportunities in sectors like IT, automobiles, manufacturing, agriculture, education, etc. This city also has adequate water supply to support its growth and power too, is not a problem in all parts of Pune. Thus, this city has all the ingredients required to stand out as a luxury destination in India.

Rohit Marathi, Pune

27th February 2014

Not only that off late most of the automobile giants have started their production facilities in Pune and when you see the luxury projects, you can identify a new signature of this city. The fact remains that the premium housing segment in Pune has continued to thrive even as the market for luxury homes in Mumbai declined steadily. In short, both, from an ownership as well as investment perspective, luxury housing in Pune will thrive and grow in the future. Moreover, the demand for luxury residential units in Pune is highest in areas that provide ready access to the central business district and employment nodes.

Suraj Kalled, Pune

27th February 2014

Comment

The developers are launching luxury projects because of the availability of big plots of land, relatively lower prices, potential market due to the IT sectors and Mumbai being in the vicinity, good infrastructure support by MIDC, Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation. On the buyer side, the factors for luxury projects are good climatic conditions, a cosmopolitan population, good support by banks and financial institutions, better employment opportunities in IT and automobile sectors, closeness to the financial capital and better connectivity through roads, railways and airways.

Priyanka Vats, Pune

27th February 2014

Hi,
Another factor to be noticed for this growth is that more and more high-paying jobs are being created every year, leading to a steady demand for high end homes. At the same time, more and more NRIs from Pune, who have completed their high-paying tenures abroad, are returning every year.

Sunil Kulkarni, Pune

27th February 2014

Comment

Yes you are right Sunil. Initially the city attracted only the foreigners who used to visit the ashram of Osho located in this city. But things have changed a lot in last 15 years. Being close to Mumbai has always been an advantage but some planned developments, have added new dimensions to this city.

Piyush Khoche, Pune

27th February 2014

Hi,
Truly Pune is fastly catching up with cities like Delhi, Bengaluru and Mumbai as far the luxury projects are concerned. In fact it is gaining an increasingly bigger share of attention from investors and end users. Factors like large spaces, superior specifications and more no of luxury amenities are driving the demand for posh housing projects.

Nitesh Patil, Pune

27th February 2014

Comment

Hi Nitesh,
Pune has the potential for growth as a luxury home destination. It is definately having an upper hand over other localities like Gurgaon and Mumbai with regard to prices which are still affordable when compared to cities like Mumbai and Bengaluru where the prices are sky rocketing with each passing day.

Aarti Bal Pathak, Pune

27th February 2014

Hi,
As many high end posh and luxury projects being launched in Pune, this has put the city in the country's luxury housing map. It was only a few years back when a couple of high-end luxury projects were launched in Pune. But now we see that more and more posh high end flats coming up in the city as well as in the Pune outskirts.

Shweta Salunkhe, Pune

27th February 2014

Comment

yes Shweta,
All this is happening due to better infrastructure, booming economy and with many MNC's setting up their offices in this city. This has ultimately led to price appreciation.

Sneha Ambedkar, Pune

27th February 2014