According to the latest reports from JLLM and Knight Frank, all segments of the real estate sector in the city have shown signs of stability and consolidation. Commercial real estate has witnessed some more consolidation compared to last year, thanks to the expansion of services sector and significant movement in retail, while luxury housing is making a comeback. Real estate sector observers said the subdued economic situation has led to lower interest in office space, but there has been some addition to the space absorbed by the services sector. On the retail front, too, there have been signs of consolidation, as organised retail is seeing a major shift from standalone locations to large malls which ensure better footfall. JLL said no new retail mall space was completed in October and rents and capital values remained stable over the month.
Residential segment saw impressive absorption as the market is marked by affordable prices in comparison with the rest of the metros, realty research firm Knight Frank said. The firm said that close to 130,000 units have been launched in Pune since 2009 and market vacancy levels are relatively healthy at 21%, compared to cities like Mumbai and National Capital Region, where vacancies range significantly over 30%.
According to Knight Frank, “The emergence of IT/ITeS sectors in Pune, in tandem with various manufacturing units being set up in the city and surrounding areas over the last decade, has resulted in the expansion of the real estate market in all directions. Ample availability of land in eastern and western peripheral locations ensures that the new residential product is well within the affordability criteria of their catchments.” The Pune market is largely end-user driven and as such not subject to much volatility, the firm said.
Destinations in Pune to invest in now:
Hinjewadi in Pune is expected to witness over 90 per cent rise in housing prices over the next five years, a report by property firm Knight Frank has revealed. Ulwe in Navi Mumbai, Wadala and Chembur are expected to generate the highest returns for residential real estate investors over the next five years, the report said.
Followed by Hinjewadi (rank7th), even Tathawade (rank 8th) and Ravet (rank 9th) are expected to grow close 90% in next 5 years.
In fact, seven of the top 9 spots on the list of 13 areas are occupied by localities in Mumbai and Pune. While rates in Ulwe are expected to rise 145% in five years, in Wadala and Chembur, the hike is likely to be 133% and 125%, respectively.
The report seeks to identify areas that will develop because of factors such as job creation, infrastructure development and lifestyle change. “We identified 100 cities using banking penetration, hotel room demand, and air passenger traffic as surrogates for business activities. For infrastructure development, the current and proposed investment in infrastructure were taken as proxies.
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The work force in Hinjewadi is between 150000 to 175000 people approx which is expected to grow with phase -III of IT park and phase-IV still to operate fully. Also the Auto industry in Talegaon, Chakan areas still growing, the entire west and north Pune is the future growth corridor or Pune. By saying this East Pune doesnt lag behind but west will be the prefered destination which will be close to the Chakan airport, the Navi Mumbai airport and ofcourse Mumbai region.
So guys act fast and invest now or repent later.
Call for further more details and which projects to focus.
Always at your service
Regards
Hitendra
9158400500
9823116000
Residential segment saw impressive absorption as the market is marked by affordable prices in comparison with the rest of the metros, realty research firm Knight Frank said. The firm said that close to 130,000 units have been launched in Pune since 2009 and market vacancy levels are relatively healthy at 21%, compared to cities like Mumbai and National Capital Region, where vacancies range significantly over 30%.
According to Knight Frank, “The emergence of IT/ITeS sectors in Pune, in tandem with various manufacturing units being set up in the city and surrounding areas over the last decade, has resulted in the expansion of the real estate market in all directions. Ample availability of land in eastern and western peripheral locations ensures that the new residential product is well within the affordability criteria of their catchments.” The Pune market is largely end-user driven and as such not subject to much volatility, the firm said.
Destinations in Pune to invest in now:
Hinjewadi in Pune is expected to witness over 90 per cent rise in housing prices over the next five years, a report by property firm Knight Frank has revealed. Ulwe in Navi Mumbai, Wadala and Chembur are expected to generate the highest returns for residential real estate investors over the next five years, the report said.
Followed by Hinjewadi (rank7th), even Tathawade (rank 8th) and Ravet (rank 9th) are expected to grow close 90% in next 5 years.
In fact, seven of the top 9 spots on the list of 13 areas are occupied by localities in Mumbai and Pune. While rates in Ulwe are expected to rise 145% in five years, in Wadala and Chembur, the hike is likely to be 133% and 125%, respectively.
The report seeks to identify areas that will develop because of factors such as job creation, infrastructure development and lifestyle change. “We identified 100 cities using banking penetration, hotel room demand, and air passenger traffic as surrogates for business activities. For infrastructure development, the current and proposed investment in infrastructure were taken as proxies.
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Rank | Destination City | City | Avg price 2012 | Extd price 2017 | Appreciation | Years to double prices |
1 | Ulwe | Mumbai | 4,000 | 9,800 | 145% | 3.4 |
2 | Wadala | Mumbai | 15,000 | 35,000 | 133% | 3.8 |
3 | Chembur | Mumbai | 12,000 | 27,000 | 125% | 4 |
4 | Noida Extension | Delhi-NCR | 3,200 | 6,760 | 111% | 4.5 |
5 | Dwarka Expressway | Delhi-NCR | 4,900 | 10,200 | 108% | 4.6 |
6 | Medavakkam | Chennai | 3,800 | 7,700 | 103% | 4.9 |
7 | Hinjewadi | Pune | 4,000 | 8,000 | 100% | 5 |
8 | Tathawade | Pune | 4,300 | 8,500 | 98% | 5.1 |
9 | Ravet | Pune | 3,950 | 7,800 | 97% | 5.1 |
10 | Hebbal | Bengaluru | 4,250 | 8,230 | 94% | 5.3 |
11 | Pallikarnai | Chennai | 4,200 | 8,100 | 93% | 5.4 |
12 | Wakad | Pune | 4,500 | 8,600 | 91% | 5.5 |
13 | KR Puram | Bengaluru | 3,245 | 6,200 | 91% | 5.5 |
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The work force in Hinjewadi is between 150000 to 175000 people approx which is expected to grow with phase -III of IT park and phase-IV still to operate fully. Also the Auto industry in Talegaon, Chakan areas still growing, the entire west and north Pune is the future growth corridor or Pune. By saying this East Pune doesnt lag behind but west will be the prefered destination which will be close to the Chakan airport, the Navi Mumbai airport and ofcourse Mumbai region.
So guys act fast and invest now or repent later.
Call for further more details and which projects to focus.
Always at your service
Regards
Hitendra
9158400500
9823116000
Houses and apartments in major cities have gone up in price, three or four times higher than the per capita income growth rate. This is the main reasons property rate has increased in Pune.
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