Pune's Real Estate is in the boom period. All the growing industries invite jobs and works from outside Pune too, there by leading the demand in the Real Estate sector.
Pune is known as 'Queen of the Deccan', and the cultural capital of Marathi people is surrounded by hills from three sides, Spread over an area of 146 square kilometers, located 160 km east of Mumbai, with around 40 per cent of area under greenery, Pune is a very pleasant place to live in. The population of this verdant and peace-loving city is around 2.5 million.
The major factors leading to its growing popularity and Real Estate Boom can be attributed to good climate, excellent educational facilities, fast growing industrial sector, and a good standard of living.
It is a fast growing city and is also an important educational center of the western India. The famous institutes like Pune University, Film and Television Institute of India, National Defense Academy, Armed Force Medical College and College of Military Engineering are located here. It is the largest center for Japanese learning in India. The Deccan College and Fergusson College are amongst the most reputed colleges of the country. Students coming from various parts of the country form a major chunk for rental houses and hostels.
Be it the automobile sector Engineering sector or the Software Industry. Pune is now a fast growing industrial hub of the country.
A major industrial center for Automobiles, Pune has some very eminent names to boast of – world's largest two-wheeler manufacturers- Bajaj Auto, India's largest Passenger car and commercial vehicle manufacturer, Tata Motors, manufacturing plant, Assembly line of Mercedes-Benz. It is also home to Kinetic Engineering, Force Motors Ltd (previously known as Bajaj Tempo).
Chemical industries form a significant segment of Pune industrial activity. The products include paints, lubricating oil, ammonium compounds like ammonium chloride and liquor ammonia, acrylic blue, and lead compounds. A number of pharmaceutical companies are housed in the Daund 'taluka' of Pune district. CIPLA and Orion Remedies are two such concerns.
The backbone of Pune services or commercial sector is provided by nationalized, foreign and private Indian banks. State Bank, Canara Bank, Syndicate Bank, IndusInd Bank Limited, ABN Amro and Citibank are some of the renowned commercial banks having operations in Pune. Pune also has a fully operational stock exchange at Shivleela Chambers, Sadasiv Peth, Pune – 30.
Pune is also a home of popular Indian software industry like Wipro, Infosys, Satyam, Tata Technologies, TCS, Kanbay, Veritas, Cognizant, PCS and Mahindra British Telecom. A further feather in the cap is the 'Indian Institute of Software Engineering' coming up in association with Carnegie Mellon University, USA. Some of the prominent IT parks in the city are the Hinjewadi IT Park, Magarpatta Cybercity, Marisoft IT Park (Kalyaninagar) etc.
All the growing industries invite work force from outside Pune too, there by leading to demand in the Real Estate Sector.
The destiny of realty is dependent on the economy's progress. The developmental activities in Pune's infrastructure and all other major sector's are signs of Pune's growing economy. The overall optimism in all sectors and better job visibility among the salaried class are the major reasons for the boom in Real Estate Sector. Many good and promising projects were on a slow pace. But now, with the market showing positive signs, builders have started to pitch in and the construction has hiked again. The demand is not restricted to any particular area, but the city is growing in all areas.