Why Are More Young People Buying Homes in Pune?
Pune has been a go-to destination for young professionals for many years. Thanks to its proximity to Mumbai, the city has witnessed substantial growth in the IT, automobile, and commercial sectors. Consequently, Pune has also undergone an infrastructural transformation, making the city's outskirts more accessible. The city's modernisation has led to phenomenal growth in the real estate market.
Let's explore the top 4 reasons why Pune has emerged as an attractive destination for young homebuyers.
1. Booming Job Opportunities
Following the legacy of Bengaluru, Pune has emerged as a hotspot for national and international tech companies. The city is home to leading service providers such as Infosys, Wipro, Symantec, Microsoft, Google, and more. Moreover, the state government offers special incentives to the IT industry, making Pune a perfect outsourcing destination. Aside from IT companies, Pune also has manufacturing and hosting plants of automotive giants like Mahindra & Mahindra, Tata Motors, and Mercedes-Benz. Additionally, the city's startup culture is skyrocketing, leading to exciting career opportunities in health tech, fintech, and e-commerce sectors. With the rise in employment opportunities, more & more young professionals are looking to buy homes in Pune.
2. Affordable Real Estate Options
Compared to other metropolitan cities in India, Pune offers a wide range of affordable housing options across different price ranges. Whether you're a first-time homebuyer or looking for an investment, the city's real estate market covers it all. This unique characteristic has made Pune a popular choice amongst the young generation aspiring to lead a better quality of life. Additionally, the city's thriving rental market is also a point of attraction for people wanting to earn a long-term rental income and appreciation.
3. Educational Hub
Pune University has over 700 affiliated colleges and offers 270 courses at the diploma, undergraduate, postgraduate and doctorate levels. Home to some of the leading educational institutions in the country, the city stands true to its title, “The Oxford of the East”. In addition to Pune University, the city has several renowned universities and private institutions attracting students from all over the country. With access to top-quality education & a wide range of academic courses to choose from, Pune has become an educational hub for students. The vibrant academic atmosphere and promising career opportunities are major reasons why many young people plan on living in Pune.
4. Best Infrastructure and Seamless Connectivity
Over the last few years, Pune's infrastructure has witnessed a major transformation. From the expansion of the Pune metro to the development of ring roads and flyovers, connectivity within the city has significantly improved. The Mumbai-Pune expressway further offers seamless connectivity with the economic capital of India. Adding to these remarkable developments, the city is booming with modern residential and commercial projects. These developments have reached some distant suburbs of the city, including Ravet, Wakad, Baner, and Balewadi, increasing the demand for owning homes in Pune. Most people are considering affordable homes in Pune due to industrial and infrastructure developments. If you’re a first-time homebuyer or looking to invest in a second home, Sonigara Corp’s prime residential projects around the city of Pune offer excellent opportunities to first-time homebuyers and those looking for a second home. Invest in a spacious 3 BHK flat at Sonigara Presidency in Ravet, or buy your first 1 or 2 BHK flat at Dwaarka World, Moshi. Explore all projects here.