Pune, the 'Tech city', is located in the western Indian state of Maharashtra. The city has a reputation for its several esteemed colleges and educational institutions. These days, investors and builders are heading towards this alluring city as it has much to offer in the real estate sector. The number of investments in Pune properties and the emerging new real estate developments has given a strong boost to city's economy and infrastructure development. The various attractive features have indeed put Pune real estate market on global business map. It offers a plethora of opportunities in the various industries like retail, IT, BPO, and hotel.
Pune education sector have proved to be the biggest pacemaker for boosting real estate market. This sector is also making rapid strides and has attributed to the foray of students coming in from all across the world. The city produces around 1, 50,000 graduates each year, encouraging the young generation to come forward and contribute to the economy's progress. Thereby, adding to the manpower and fuelling the mentioned real estate growth rate which is contributing a lot to the Pune real estate market and assisting it to come up as a global education destination.
Retail market space is the most preferred sector in the market. The city shares a big chunk of the $350 billion Indian retail market which is expected to grow at a rate of 13% per annum. Pune properties are marking the growth along with prospects, excellent connectivity and educational facilities. Whether it is the industries or education sector, both are nurturing and shaping up in a decent manner.
Pune is expected to observe a sharp escalation of around 500% in the service and industrial sectors. The actual potential lies in Pune residential property, shopping malls, education, and the hotel industry as these segments are rapidly flourishing. The city's infrastructure is developing at a remarkable rate and constructive changes have taken place in the last 5 years.
The city is planning for some very interesting upcoming real estate projects. There is a project 'Business Bay' which will be an exclusive residential-cum-commercial project. It will accommodate high end retail outlets, corporate offices, and the residential units. The upcoming new projects and developments are going to make Pune the next big destination in the real estate market. To find out more about this tech city and about its best locations to invest and much more, visit India's No.1 property site magicbricks.com.
Friday, October 12, 2007
Friday, October 5, 2007
Indian Real Estate On The Rise
Indian Real Estate market is growing at a rapid pace as a result of increased property prices and constant demand from buyers as well as investors. Soaring economic growth, promising demographic and socio-economic factors have also led to a steep rise in demand for housing and commercial real estate. According to experts, The Indian real estate market is expected to grow at 33% between or by 2010. Significant growth in its market size has been noted which is from $12 billion to $50 billion. Total housing spend is expected to grow at a CAGR of 18.60% from Rs 171,800 crore in 2005 to Rs 403,400 crore in 2010. Indian estate market will remain an appealing investment option for both domestic and foreign investors.
The major boost to the real estate market is given by the IT/ITEs companies, setting up their high profile office space in India. Established real estate markets like Mumbai, Delhi and growing markets like Bangalore , Hyderabad, and Chennai are zooming upwards; other Indian cities are also surrendering to the allure of booming real estate market. Construction activity across the country is on an upswing, the commercial property real estate demand is expected to be around 350mn sq ft out of which IT/ITES and organized retailing sector should contribute around 300mn sq ft.
Retail sector has also added to the development of real estate market and will continue to do so as many metros witnessing a spurt in the number of malls and multiplexes, with many major companies entering into the scene. Study says the number of malls in Kolkata, Mumbai, Bangalore, New Delhi, Hyderabad and Pune will grow to 300 by 2010 as against their present strength of 50.
India will have a demand-supply gap of 17.9 million housing units by 2010; the Real Estate market is currently growing at 30 per cent per annum and offering maximum returns to its investors. The domestic real estate market, which is presently estimated at $16 billion (Rs 72, 496 billion), will increase by over three and a half times and touch $60 billion (Rs 2,71,8 asset 60 crore) by 2010.
The major boost to the real estate market is given by the IT/ITEs companies, setting up their high profile office space in India. Established real estate markets like Mumbai, Delhi and growing markets like Bangalore , Hyderabad, and Chennai are zooming upwards; other Indian cities are also surrendering to the allure of booming real estate market. Construction activity across the country is on an upswing, the commercial property real estate demand is expected to be around 350mn sq ft out of which IT/ITES and organized retailing sector should contribute around 300mn sq ft.
Retail sector has also added to the development of real estate market and will continue to do so as many metros witnessing a spurt in the number of malls and multiplexes, with many major companies entering into the scene. Study says the number of malls in Kolkata, Mumbai, Bangalore, New Delhi, Hyderabad and Pune will grow to 300 by 2010 as against their present strength of 50.
India will have a demand-supply gap of 17.9 million housing units by 2010; the Real Estate market is currently growing at 30 per cent per annum and offering maximum returns to its investors. The domestic real estate market, which is presently estimated at $16 billion (Rs 72, 496 billion), will increase by over three and a half times and touch $60 billion (Rs 2,71,8 asset 60 crore) by 2010.
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