The article highlights the real estate scenario in Pune city and provides a brief glimpse of the current architectural trends in the city.
Pune – a vibrant and multi faceted city is the focal point for education, automobile and IT sector in India. Every year thousands of students as well as professionals flock to the city for higher education as well as better employment opportunities. The greatest impact of this migration can be observed on the real estate sector in Pune.
Real Estate Scenario
The property market in Pune city got a real boost only about a couple of decades back. As the city continued its rapid business expansion, the property market also witnessed a sudden rise. With ample land available freely, there was great scope to develop huge residential and commercial properties in and around the city.
As a part of this massive development, the city witnessed the rise of several large residential and commercial establishments. This also resulted in the rise of several suburbs as an extension of the main city.
The past few years have witnessed exceptionally high activity in the real estate sector with the construction of many shopping malls, multiplexes and offices. The trend is to adopt international style of design and construction with emphasis on excellent and innovative use of space, quality construction and beautiful landscaping.
The modern trend of construction has resulted in the creation of several buildings with unique design, cutting edge technology and contemporary architectural style. In fact, Pune is the first city to have two mega privately managed townships – Amanora and Magarpatta.
These townships consist of residential, commercial and business avenues and are managed by private authorities. Such concept based living is considered as a feather in the cap for real estate developers in the city.
Apart from these residential townships, yet another first for the city has been the construction of a private hill station – Lavasa. Located amidst some of the most scenic hills and woods, the Lavasa comprises of luxury villas that are meant to provide an unforgettable holiday experience to the dwellers.
There are several property developers who have led the revolution in the property sector in the city. Some specialize in commercial establishments while some in residential and few in both the sectors. Some of the leading real estate developers include the Paranjpe Group, D.S. Kulkarni Developers, Kumar Builders, Rohan Builders, Kolte Patil Developers, Amrut Runwal Group and Darode Jog Properties.
Thus, the real estate scenario in Pune is one of the most burgeoning features of the city and has kept up with the changing demands and tastes of the people.
One of the reasons why real estate is growing expansively is because of its immediacy with Mumbai. Since there are assorted IT and Auto companies in the city, the prices of real estate are higher and growing as compare to other cities around it. As far as Information Technology is concerned, Pune is growing as a destination for IT and BPO industries, which is why; there are new opportunities for real estate activities. There are various IT industries which are looking forward to locating in the city.
The city is going to be one of the hot destinations in India for real estate investors by reason of growing Software Companies. The commercial properties are also being sought for the expansion of multiplexes, clubs, malls, convention centers, retail stores and hotels. There is ample of scope for residential and commercial project in the city which tempts every real estate investor. Pune is developing to be one of the most preferred cities in the country.
Author Resource:
Jim Karter provides detailed information about real estate property and lifestyle of http://www.punesite.com/ Pune. Know more about http://www.punesite.com/pune-real-estate real estate developers in Pune.
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