Pune has a strong historical past, the home town of the Marathas and more famously Shivaji. The Singhgad Fort is testimonial of that magnificent past glory. Like Bangalore, Pune also has a quietly acquired a cosmopolitan culture. It has a cultural mix of Parsis, Muslims, Bohras and Hindus, giving it a multi-cultural identity. Its bakeries still churn out the old clay oven stuff, along with the more modern machine based cuisine.
Pune was earlier identified as a manufacturing and automobile hub, with Pimpri, Chinchwad and Kharkee contributing towards it. Today it is recognized as one of the leading IT destinations in India, with Wipro, Infosys and TCS setting base here.
The National Defence Academy at Khadakwasla and the Pune University are a few landmarks of the city. Ferguson College attracts foreign students for years at end now. Its weather attracts many to settle down here. Pune has the right combination of cultural heritage, neo modern society, job opportunities and a wonderful weather.
Real estate in Pune has also grown in leaps and bounds. With the ever increasing demand for residential property due to migratory population the property market in Pune has seen a steady growth. IT as an industry has led in initiating quantum increase in the office space property in Pune.
Hingewadi has turned into an IT hub, with a number of real estate projects and IT parks . This in turn has converted the nearby areas like Wakad, Balewadi and Bodkewadi into attractive residential property markets in Pune. The residential projects in these areas cater to the typical needs of young couples/individuals and are restricted to 1 or 2 BHK. The area near the Airport, Lohegaon and Yerwada is also fast developing into a residential property in pune, extending right upto Moshi, Alandi and Budruk.
Pune’s real estate market has attracted investors from all across India. Due to its high Livability Index Pune continues to be an attractive real estate destination. The present slow-down in the real estate sector has not had a severe effect on Pune as compared to other cities; this is demonstrative of the resilience and strength of the real estate sector in Pune.
Real estate sector in Pune is well spread over its satellite towns like Pimpri, Chinchwad, Aundh, Khadki and now Lavasa which is fast turning out to be a tourist as well as educational destination in India. This enables and provides real estate developers in Pune tremendous flexibility to churn out vide range of inventory with an equally wide cost spectrum and cater to a larger market.
Like Bangalore and Hyderabad, real estate in Pune is one of the most stable and promising markets.