The development of IT corridor between Pune and Mumbai is likely to cast positive impact on the property markets of Pune. The state of infrastructure, which was said to be the major bottleneck in city’s growth, is also set to improve with provisions of hi-speed expressways, arterial roads and flyovers in different parts of the city.

Real estate development in Pune can be seen primarily in the far eastern parts of the city such as Kharadi, Wagholi, Hadapsar; and the northern parts of the city, primarily the Pimpri-Chinchwad area. According to Ashok Verma, a Pune-based real estate agent, “Capital values in these belts are expected to appreciate between 10-15 per cent with overall returns including lease yields between 15-22 per cent in the next two-three years.”

By and large, residential property value appreciation is hovering somewhere between 30-40 per cent and it is expected to rise further. Many NRIs from the Gulf are also investing in properties in Pune, as they consider it a lucrative option. Industry experts believe that, investors can anticipate a yield of up to 6 per cent with capital value appreciation of up to 50 per cent from Pune residential properties.

The current economic boom has also created a sizeable proportion of high net-worth individuals as well as a burgeoning upper-middle class, who are willing to invest in the real estate sector in Pune. As a result, there is a huge demand for luxurious homes. Though priced slightly high, there is an increasing trend of township projects in Pune, which are coming up especially in the peripheral areas.

Moreover, investors from Mumbai are also investing significantly in these township projects. They cost a pittance vis-ŕ-vis Mumbai real estate prices and offer a viable option to invest in.

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