Pune, the “Queen of the Deccan”, was famous as “a pensioner’s paradise” or “a quiet retirement destination” till a few decades back. The scenario has changed completely since the late 1990s. This article covers Pune’s transformation from a sleepy town to a thriving city, which is one of the best places to live and invest in today.
Pune’s meteoric rise as a metro-city can be attributed to the huge IT park that came up in Hinjewadi a couple of decades back. Already an automobile and educational hub, Pune attracted companies from various sectors like IT, banking, manufacturing etc. resulting to a sharp economic growth and rapid urbanization. Apart from the office clusters that came up in several locations, the huge workforce employed by these organizations created a strong demand for residential properties. Areas like Wakad, Baner, Balewadi, Kharadi, Bavdhan etc. saw a steep rise in property demand. Property prices skyrocketed with investors booking huge profits. Pune became one of the top destinations for them to invest in.
The other few factors that go in favour of Pune as a preferred investment destination are livability, affordability and infrastructure upgrades. As per Ease of Living Index, Pune has been recognized as the second most livable city in India after Bengaluru. Even if it is one of the fastest growing cities in the country, its real estate market still remains within the reach of the urban middle class, making it one of the most attractive choices for the home-buyers. The development of Pune Metro and the proposed Pune Outer Ring Road are the infrastructure projects that are aimed at improving intra-city connectivity, decongesting heavy traffic and making the city more livable.
Pune’s real estate market has experienced phenomenal growth in the past few years. The primary sales of properties saw a year-on-year rise of 65% in 2022 and 47% in 2023, earning Pune the rank of one of the top performing residential markets in India’s top 7 cities. The upward trend continues and the growth in Pune’s real estate sector is expected to surpass the national average in 2025. It has a GDP of about USD 69 billion, which is around 0.81% of the national GDP. Pune’s strong industrial base and 6th highest per capita income play a key role in this. From affordable to luxury housing, the city has it all.
If you are a real estate investor, Pune’s real estate is perhaps the best choice for you. Property prices here are always on the rise. Whether you buy a property to stay in or rent out, investing in Pune’s real estate is never going to disappoint you.
At Goel Ganga Group, we have a few residential projects that are perfect for you to invest in. We have Ganga Arcadia and Ganga Altus in Central Kharadi, Ganga Asmi in Real Wakad and Ganga Dham Towers in Ganga Dham Chowk. Ranging from comfort to luxury to ultra-luxury categories, our projects cater to every investor’s requirement.
If you wish to get more information on these or check these out for yourself, call us on 020 67670000.