Many IT/ITES companies, educational institutes, BPO industries have established their offices in Pune. It is widely known for its top notch educational facilities that attracts students from across the countries like Eastern Europe, South East Asia, Iran and Middle East. Students and professionals are now migrating to Pune for their career and so the city is witnessing inflation in population. This makes Pune a favourite and a preferred destination of investors. The real estate investors are also getting attracted towards Pune residential properties as the Investment in residential properties is a sure means of high returns. There has been continual increase in the demand of residential properties in Pune because the city always keeps up infrastructure with the developments going on in the city. As per the industry estimates, Pune would need as many as 40,000 residential properties every year to meet its housing requirements. The real estate developers in Pune have come up with many new residential projects in Pune to attract the buyers like townships, apartments, bungalows etc. The real estate sector is reaping a tremendous boom under the liberalized economy of India. On overall the $12 billion market of Indian real estate market is fetching towards $50 billion by the end of the year 2010. This tremendous growth in Indian real estate market is due to new technological innovations, new norms, policies and world class facilities, in the hospitality and entertainment sector. Real estate in India is emerging as one of the best investment areas for both the domestic as well as foreign investors. Real estate mentors define that the trend of real estate will continue its drive due to the booming IT sector in India. Some of the crucial factors that tilt the real estate property equation in India:
Growing IT Sector
Liberating Economic Policies
Developing Middle Class
Massive NRI Investments
Substantial FDI Investments
Fifth largest economy in the world (ranking above than developed countries.) Third largest GDP in the entire continent of Asia. Second largest amongst emerging nations. Due to the above said reasons the NRIs are keen to invest in real estate back home. While many of them already invested in second or even third homes, the new immigrant NRIs are looking at better opportunities to invest in Indian real estate.
