Pune Real Estate Gets Full Marks for Investments

Published: 19th March 2012
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Pune Real Estate investors need not worry about what returns their apartments in Kondhwa would offer in the wake of the current market scenario. An independent survey though ensures that property prices in Pune are going nowhere but up.

Pune Real Estate will make people much happier in the future. According to a recent survey report, Pune properties are showing signs of going nowhere but up. According to this report, till the end of calendar year 2011, approximately 1.8 lakh apartments were in various stages of construction and among this only a fifth of them were unsold, which gives a fair idea of Pune becoming a hot favorite of people looking for investments in Real Estate. The report further says that more than half of these unsold apartments in Pune are in the sub-1000 sq. ft. range, and almost 80 percent of them are less than 50 lakh in price.

Ever since the rise of industrialization and the setting up of the IT / ITes sector in the city, the micro-markets around the IT Parks are showing astronomical rise in the cost, availability of residential as well as commercial properties. Presently there are 20 micro-markets in Pune, and the average price fluctuates from Rs 2199 in Chakan to Rs 4961 in Baner. Wagholi has the highest number of new launches and it is closely followed by Sinhagad Road and Hinjewadi and from these figures it is evident that home buying has not shown any signs of slackening. It also is quite evident that real estate in Pune is driven with genuine demands and is very stable.

With a major chunk of customers dependent upon real estate consultants or brokers for buying a home, it has become a very profitable business in Pune. Pune was one of the first cities in the country to organize this business, and establish the Estate Agents Association of Pune (EAAP) in the year 1986. The organization recently celebrated its silver jubilee and has received ISO 9001 accreditation. There is also talk of the proposed Maharashtra Housing Regulatory Development Act, which would safeguard the interests of builders as well as customers. The act is believed to have a clause which asks the developers to reserve one fifth of their total floor space index (FSI) for the economically weaker section.

All these things are instilling confidence among the real estate developers in Pune for setting up their projects in the city and of them is Sobha Developers, a multi billion worth real estate development firm. It is one of the largest and only backward integrated real estate players in the country. With more than 73 real estate projects and 198 contractual projects covering total super built-up area of 43.34 million sq. ft. and total developed area of 47.37 million sq. ft, spanning across 21 cities and 11 states in India. The company has constructed a variety of structures for corporate including corporate offices, convention centers, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centers and club houses in their decade and a half years of existence.

Sobha Developers currently has two residential apartment projects in Pune. Sobha Ivory, which offers 3 BHK super luxury flats in Kondhwa, Pune, is spread in a 3.8 acre campus. It has lush green surroundings and great amenities, namely reading area, tennis court, creche, billiards, club house with a multipurpose hall, steam, sauna and much more. Sobha Garnet on the other hand offers 3 and 4 BHK super luxury apartments in Kondhwa, Pune. This is a bigger project sprawling across 7.5 acres. These flats in Kondhwa, Pune have five star amenities namely amphitheatre, reading area, children’s play area, swimming pools, half basketball court, aerobic room, designer landscaping, sauna, table tennis and jogging tracks. All in all, real estate Pune has got a definite boost thanks Sobha Developers.

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