Significant Reformation in Pune’s Real Estate Market in 2016 Year

 

As per expert’s anticipation, Pune’s real estate market will drastically boost during the year of 2016. The robust growth of the city’s market is largely dominated by the continuously increasing demand from the IT sector and a large number of multinational companies. Despite of the fluctuation of India property market, Pune’s market performed well from the last few years and recorded a decent increase over the 2014 year, during this period around 230 projects launched, 29 percent of projects were stored in the account of west region, 23 percent in east region, 22 percent in South and remaining 5 percent in central area.

In the year of 2015, the city got 20-30% appreciation. The second half of this year seen high demand in the residential need from individuals especially from East and West location. The yearly absorption rate and turnaround of the city is always much higher than other metro cities of India. By seeing this positive reality report of the last couple of years, marketers are speculating a tremendous rise in property market in 2016 and upcoming years.

Experts are predicting huge absorption in West area – Hinjewadi, Wakad, Ravet, Aundh, Baner. As Baner and Aundh are easily accessible from industrial areas of Pimpri Chinchwad, more and more peoples are preferring this locations. The west part also led to the extension to Mumbai-Pune highway and proximity to Rajiv Gandhi Infotech Park which homes MNCs – Infosys, TCS, Wipro, IBM, Tech Mahindra.

Builders and investors figured out all these areas for residential purpose, as this location may lead to high employment growth in the 2016 and coming years, the potential demand of residence will eventually be increase.

The 2016 year will be quite fruitful for those who are looking to invest in real estate, and this is the good time to buy commercial property.