Pune’s real estate: How it is shaping up

Widely tagged as an economic powerhouse and a leading builder, Pune has taken an ambitious task in hand-to home a number of multinational industries and agencies. Presence of such organization ensured the growth of employment opportunities in the city without a break-off. Needless to quote, growing employment opportunities trigger demand for real estate significantly.

In the last few years, the realty sector in Pune raised above the cliff, on account of rapid growth of IT/ITes, education and manufacturing sectors. According to property consultants, the city cites as a perfect instance of a real estate market where residential developments spur on account of stacking up of the commercial activities.

Ambitious map for Pune’s infrastructure

Pune’s ambitious infrastructure map is drawn with the aid of a multi-faceted transport network, which includes a metro-rail system, an improved road network and a number of new bridges, skywalks and subways. Maintenance and improvement of accessibility is a key factor that cannot go unnoticed, and it also comprises of communication between Pune’s commercial and residential nodes.

Accessibility can be taken a notch higher by building new roads, flyovers, expansion of existing roads and providing subways to make traffic congestion a past affair. Approval for the new international airport is a move taken in this regard.

Holistic Urban Growth

Catering to the growing aspirations of property buyers, Pune has displayed a lot of potential for horizontal urban development, hence it is adding new areas to its borders on a consistent basis. However, as Pune encounters a growing urban density comprising of both luxury and affordable home segment buyers, it must strike a balance. According to property consultants, an imbalance of housing supply for different income segments causes an adverse effect on the economic viability of a city.

A city such as Pune boasts of a cross-section of job opportunities, ranging from white-collar business executives to blue collar workers in factory shop floors. Hence, it becomes imperative for the city to come up with housing projects that cater to both the affordable and premium segment buyers.