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Interested in property investment hotspots in Pune? Here’s the answer

The city is one of the most preferred investment destinations, going by the seven percent growth observed in Pune’s real estate market in the last quarter of 2014.

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The real estate market in Pune has recorded a seven percent growth in the last quarter of 2014.
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Pune’s close proximity to the financial capital, Mumbai, has made it a thriving hub for educational institutions and IT companies, which has ultimately led to increase in the property prices.

According to a survey carried out by the property portal, 99acres.com, the city is also one of the most preferred investment destinations, going by the seven percent growth observed in Pune’s real estate market in the last quarter of 2014. With several big infrastructure projects like the metro rail project and proposed Pune International Airport plan on the cards, real estate dealers highlight the most preferred locations for property investment in the city.

Narsimha Jayakumar, chief business officer , 99acres.com speaking with iamin said, “Localities around IT hubs are recording maximum demand when it comes to both owned and rented flats. Suburban areas of the city are also witnessing a remarkable growth.”

Shishu Singh of the web portal DiscountedFlats.com, explaining the difference between flats being purchased for investment and residential purposes, talking to iamin shared, "If someone wants to buy a flat for residential purpose, the main city areas are completely saturated. It is extremely difficult to purchase a flat in areas like Swargate or Deccan, while finding one that fits your choice and budget is more likely in areas like Koregaon Park and Model Colony. However, for those you want to purchase property as an investment, I would always advise them to do so in the suburbs, where there are higher chances of property rate appreciation within the next two or three years."

Deepti Pillay, who has been working in the field of real estate development for 5 years now, said that according to market estimates, the chances of growth in the field is between 10% to 15%. "Although IT hubs are promising areas as far as investments are concerned, Hinjewadi and Wadgaon Sheri are on the way to saturation. However, Magarpatta is a more advisable area in that respect."

For the longer version of the report, click here

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