What Makes Pune the Best Choice for NRI Investment
Pune is a city that stands out most when we talk about NRI investment in the Indian real estate market. Known for its colleges and bustling IT hubs, Pune benefits from a cosmopolitan culture and a lucrative property market that has a trend of delivering promising returns on investment.
Today, let’s take a deep dive in and understand the factors that make residential projects in Pune the ultimate destination for NRI investment.
Appreciating Dollar
A big factor that has driven NRI investments in Pune’s real estate market is the appreciating value of the dollar. With the value of the dollar increasing and crossing the ₹80 mark, the spending power of the non-resident Indians has increased with it. Even after factoring in inflation and increasing expenditure, the disposable income at hand for NRIs has increased significantly over the years. Making it easier for them to put in investments back in their motherland.
IT Hub
Pune’s commercial real estate value has been instrumental in fueling demand and attracting NRI investors. The IT sector in the city has two epicenters of Hinjewadi and Magarpatta, the biggest hubs of the IT and ITES industry in the state, housing top multinational corporations like Infosys, Wipro, Accenture, Nvidia, etc. With such prestigious names paired with the city’s pleasant weather, high living standards, and thriving economy, it’s easy to understand why a growing list of startups and industries are shifting their base of operation to Pune.
As the commercial landscape of the city grows, so will the demand for housing space hence for NRI’s who are considering making an investment, Pune is the best choice.
Affordable Property Prices:
The other reason why Pune is irresistible to NRIs is because of its affordability. Compared to other major cities in India like Mumbai, Bangalore and Delhi, prices of property in Pune are relatively lower, giving NRIs a unique advantage, an ability to own bigger lots in their budgets. With maximised investment, NRIs are able to secure higher returns when they decide to buy a home in Pune.
Thriving Economic Opportunities
After Hyderabad, Pune is the city that has the most booming economy outside the big three of Mumbai, Bangalore and Delhi. As such, the city has been successful at creating a conducive environment for NRI investment.
Pune promises to give a long-term growth potential unmatched by any other city of the country thanks to the increasing job opportunities and a stable economy, there’s an assured stable source of short-term rental income for homebuyers.
Thus, NRI investment in Pune real estate becomes a sure-shot way for individuals to diversify their investment portfolio.
Infrastructure Development
Investors can expect consistent, sustained growth from their investments in Pune. The cultural capital of Maharashtra is a beneficiary of a well-planned phase-way infrastructure development.
The Pune Municipal Corporation (PMC) has a number of projects underway with the construction of Ring Road around Pune, a highway from Katraj to Kondhwa, four new sewage treatment plants at Koregaon Park, Erandwane, Tanajiwadi, and Bopodi, Riverfront development, Pune Metro and Pune Bus Rapid Transit System.
Once these projects are completed, the city will boast excellent air-conditioned transportation facilities, reliable connectivity, and better sewage treatment facilities, improving the waste management infrastructure of the city and hence providing a thriving environment for investments.
Educational and Cultural Hub:
The fact that Pune houses nine Universities and more than 150 educational institutes of Higher learning, with the most-renowned one being the University of Pune, College of Engineering Pune, BJ Medical College and Symbiosis International University, makes it an attractive destination for NRIs. Given that the city has the largest number of students in India, the demand for real estate from a vibrant and diverse community makes it an appealing location for NRIs to invest in residential properties.
Supportive Legal Framework
The Indian government has implemented several initiatives to facilitate NRI investment in the property market. From simplified processes to favorable regulations, the legal framework of the country supports and safeguards the interests of NRI investors. The introduction of the RERA Act in 2016 set in motion a transparent and investor-friendly environment, strengthening Pune’s position as the best choice for NRI investment.
Conclusion
The potential for high returns on investment and long-term growth prospects make Pune the ultimate choice for NRI investments. The city represents a stunning opportunity for NRIs to tap into the rewarding nature of the Indian property market.
Looking at the factors mentioned above in this article, NRIs can rest assured and confidently invest in Pune to secure good ROI on their investments while ensuring a prosperous future for themselves and their kids in their motherland.
