The global meltdown and crashing of international markets is reaching India. The main influence is through stock market crashing which is a primary investment indication for builders. The builders are strong on their holding capacity and yet to yield to the market crash by lowering their rates. Pune is the prime place with vast geography and many lands can yet be converted for commercial purposes and also into luxury apartments.
The recent years have seen up scaling in rates even in Pune. The main reason for people migrating to Pune from other metros is job opportunities. Relaxed lifestyle is another incentive that is making people shift to areas like Pune. The education and certain commercial opportunities in Pune have attracted people towards investing in real estate.
Developers are also diversifying into getting into luxury apartments. 2/3 BHK flats are quite common as Pune does not have dearth of lands. Though in certain parts, electricity fluctuations are a problem, builders have invested on invertors and other ways to combat the problem. The main few things that are being looked out by the investor are water, electricity and accessibility. Pune is circular in geography and most dwellers have their own transport medium. This is vital for connecting and pursuing commercial interests.
The climate of Pune is amicable to many and various mediums of education are seen growing by the number of universities and institutes. Rental options in Pune are also looked upon by many especially in terms of people who are relocating. This gives them enough opportunity to survey the area and look into permanent residence at affordable rates. The Government is also looking into increasing the transport, finance and infrastructure to project Pune as a full fledged metro.
Town inside the main town is another way of looking at new projects from developers. The Lavasa town is another such project that is aimed at creating a self sufficient town and is good enough to meet the needs of all classes and masses. Most of the projects are taking longer than usual as the liquidity crunch is the prevalent factor in all cities.
Various property exhibitions give an insight of multi crore projects in Pune as the buyers demand is giving an impetus to developers in creating many opportunities. The market is setting in for more stability though recession trends are seeing a hesitant investor who is looking for further slash in rates. Investors are truly looking at the brighter side in buying homes in Pune which is slated to be an exclusive metro.