Pune has grown exponentially over last 3 years and continues its upward growth as it has become one of the attractive, lucrative investment opportunities for various companies.
Pune was auto hub earlier and now has attracted IT / Software in big way after marking Hinjewadi as IT Hub. Infosys, Wipro, IBM, Tech mahindra and Cognizant has huge investments.
I lived in Pimple Saudagar locality for some time. The prices per sq.ft of a flat was quoting at 3200-3400 levels in early 2010 which was quite higher than mid 2008 to early 2009 levels of 2300 - 2600. The current price per sq.ft is quoted bwn 4200-4400 levels in and around Pimple, Wakad and Dange Chowk shows the continuous demand.
What is behind the exhorbitant growth of investments ?
In my understanding, Telengana issue and its continued uncertainty has dented the attractiveness of Hyderabad. Why Pune.... ? B'coz., most of the companies had excellent offices set up at Chennai and Bangalore. They were looking to attract talent with a accomodative investment cost in mind.
Bangalore's 60min drive 6km drive inside city has made sure it lost out of new job creation battle against Delhi and Chennai over last 3 years.
Pune's real estate players took the challenge cheerfully and in the process of creating huge resedential complexes whereas the same could not be said about Government infrastructure in terms of Road, Power and Public transport.
But as of now., Pune is the winner...
Nice one sir.. Any insights on growing residential demand in chennai? to me, it looks like a bubble formation, but considering the appetite for buying properties among chennaites, the bubble may sustain long..ReplyDelete