Real estate investment considerations for 2024
The real estate sector is witnessing the emergence of a new city hotspot in Maharashtra as the top choice amongst home buyers, and surprisingly the answer is not Mumbai. A city that celebrates the Marathi culture and ethos to the core, the city of Pune is gradually emerging as the preferred real estate opportunity for individuals.
Real estate consultants- Anarock’s year-end reports from 2023 showcased an increased preference towards homes in Pune, with approximately 86,680 homes sold in 2023. This positive trend is expected to continue in 2024 with the real estate segment offering a lucrative investment option for investors.
A key factor motivating people to invest in the region could be attributed to the comparative cost advantage one enjoys compared to purchasing a home in Mumbai.
Purchasing a home in Pune is relatively 75.21% cheaper compared to Mumbai making it an affordable investment avenue. Over time, the affordability factor offered by Pune has reduced, owing to increased demand, thereby making it more competitive to purchase a home.
However, people looking for real estate opportunities continue to flock to the Maratha City anticipating an appreciation in property rates in the near future. This appreciation could be linked to several factors such as:
- Quality of life: In comparison to the hectic and fast-paced life lived by Mumbaikars, Pune’s sedentary lifestyle allows individuals to experience a better quality of life owing to its superior spaces offered for families.
- Modern lifestyle: Gone are the days when Pune was considered old-fashioned. The trendy city has kept up with the times while retaining the essence of its Maratha culture. Improved healthcare, education and entertainment facilities coupled with the rapid development and emergence of commercial centres, IT parks and service-focused industries have made it a desirable location to establish a home.
- Connectivity: The city of Pune offers a well-connected network of roads and highways making commuting an enjoyable rather than tedious process. The Mumbai-Pune Expressway, highways and major arterials offer smooth connectivity and accessibility to Pune from other cities.
For those looking for a sedentary lifestyle away from the hustle and bustle of major metropolitan cities, while being equipped with state-of-the-art amenities, Pune offers the right blend of convenience and sophisticated living.
With people placing increased importance on achieving the ideal balance between urban life and nature, Shapoorji Pallonji Real Estate beautifully captures this feeling to provide comfort and convenience at Golfland at Vanaha, situated in Bavdhan, Pune.
Meanwhile, for those searching for the un-city life within the city, SP Kingstown brings an unmatched quality of life like no other just for you.
Experience an elite lifestyle like never before with Shapoorji Pallonji. Visit https://shapoorjirealestate.com/ to know all about our latest projects.
