A non-resident Indian (NRI) investor invests in property in India to either improve their return on investments or to live when they return to their homeland. The NRI investor will hence look for properties that have the potential to give good returns in the future. NRIs then shortlist properties accordingly and choose those that are in upcoming cities where the property market is booming. One can confidently say that Pune real estate is poised for a strong growth forecast for the future.
NRIs interested in investing in property can consider Pune as a potential market for the following reasons:
1. Employment Hub
IT, IT Services, Manufacturing, Automotive, and Healthcare are some of the booming industries that have been growing in the past years and continue to do so. These industries are responsible for generating employment causing an influx of professionals into the city. A young working population always needs housing that can be rented or bought. This is one of the major reasons driving the real estate sector of Pune. NRIs investing in residential properties in Pune can rest assured that their investment will generate good returns in the form of rentals as well as a steady rise in property prices over time.
2. Educational Hub
Pune has been established as an educational hub for many decades. Some of the best institutions for professional courses and skill training are in Pune. There is always a constant flow of students who look for housing. This too is a means of earning an income on property investment. Many allied businesses thrive due to the education industry. These businesses require the real estate to carry out their operations causing a demand for commercial property. NRIs also can invest in 3 BHK flats in Kharadi which is known to give higher returns.
3. Infrastructure
The infrastructure development in Pune is unprecedented. Initiatives like the ongoing Pune Metro Rail Project will connect major hubs of Pune reliably and efficiently. To ease vehicular traffic that congests most roads, the construction of a Ring Road has been undertaken which changes the experience of road travel in Pune. The important areas of Pune are witnessing road widening and flyover construction to improve ease of travel, connectivity, and efficient traffic management. These initiatives will make Pune a vibrant and sustainable city further boosting the real estate market growth.
4. Quality of Life
Pune has pleasant cool weather throughout the year. The winters are cherished, and the summers are not as harsh. Living in luxury flats in Pune is preferable when compared to other cities in the state. Pune is the cultural capital of Maharashtra offering its residents many places to visit and explore. The palace of Shaniwarwada, temples like Dashabhuja Ganpati Mandir and Mrutyunjayeshwar, museums, and theatres are major attractions for lovers of art and culture.
The city also offers a diverse lifestyle with many options to socialize. The city is close to the Sahyadri range with numerous forts and hill stations that can be visited during different seasons. All these favor young professionals and businessmen to settle down in the city as it offers a perfect work-life balance. Pune is one of the most sought-after destinations to work and settle.
5. Affordability
When compared to other major real estate markets like Mumbai, Bangalore, and Delhi the property prices are comparatively lower in Pune. This is a unique opportunity for NRIs to own more property in their budget. The returns earned will be higher as the quantum of investments is higher making Pune an irresistible place for investment.
Pune is the best choice of investment for NRIs who are seeking good returns on their investments. They can also consider settling down as the city is vibrant yet pleasant.