The Growth of Real Estate in PCMCWith the emergence of the real estate market in the country, real estate and property investment opportunities have developed at a brisk pace. As an investor, you can indulge in property investment by purchasing vacant plots, buying residential or commercial property and either reselling them or leasing them for monetary profit. As a general buyer, finding your dream house is not a dream anymore, thanks to the growth of real estate and allied sectors in areas like Pune and PCMC.
What makes PCMC an attractive real estate investment hub? Some of the factors are mentioned below:-
- It’s close proximity to the parent city Pune and Mumbai – India’s premium and largest real estate powerhouse.
- The availability of open spaces around the outskirts.
- Efficient transportation facilities and good connectivity with adjoining areas
- Moderate climate
Also, despite the close proximity with Mumbai, the real estate market in PCMC is quite different than that of Mumbai. We are not oblivious to the fact that Mumbai is a congested city which is why lower to middle income level home buyers and property investors look for opportunities in the adjoining areas. This is where PCMC comes in. Another important factor is the sustained and continuous growth of the automobile and service sector, particularly in the MIDC areas resulting in increased commercial real estate development.
The emergence of PCMC as an IT hub in Pune has had a positive impact on the real estate industry as well. IT professionals from Maharashtra and other states as well are known to have good investment potential. They tend to buy residential property in close proximity to IT parks which is why Hinjewadi’s and Wakad’s value as a potential real estate investment hub has skyrocketed. Outskirts like Balewadi, Pimple Nilakh, Chikhali, Talegaon, etc. are in great demand.
PCMC’s property market also provides abundant options from a wide spectrum of budgets for all types of investors. Areas like Pradhikaran, Akurdi and Chinchwad provide a healthy competitive market for luxury housing giving ample opportunities for wealthy investors.
There’s no doubt about the fact that PCMC has emerged as a growing real estate hub within Pune which in turn has helped raise investment opportunities for the young, urban population in the city.