Pune is one of the most promising metropolises in India. Since a lot of Indians are looking to invest in buying land in Tier 1 and Tier 2 cities in India. Investing in this asset class is one of the trends that we see in most buyers looking to buy plots. Cities like Pune have seen and continue to see this trend on the rise. Lots of buyers are looking to invest in plots in Pune. Whether one is looking to invest in the city center, or looking to buy land in the periphery of the city, here is some expert advice to consider before purchasing plots in Pune.
Most often the buyers looking to purchase land are aware of the basics such as the Title deed and the Encumbrance certificate; however, it’s the expert’s advice not to make any hurried purchase- instead spend time to research the land they are looking to buy.
- LOCALITY WITH GROWTH POTENTIAL
With a total population of 51 Lakhs, Pune is a hot destination for homebuyers in all segments. Here are some areas that a buyer can look at for investment as it has seen and is projected to see a considerable rise in prices:
- Hadapsar, Hinjewadi, and Mundhwa are strategically located from the city center and have seen considerable growth of over 45% in price appreciation in the last three years.
- Some of the other areas of interest are Wakad, Kharadi, and Mundhwa with potential growth in prices in the future.
- UNDERGROUND WATER LEVEL
Pune is one of the most promising and fastest-growing metro cities in the country. According to the groundwater information report of 2013, the depth of groundwater level is between 5 m to 10m. A study showed that 25% of Pune’s total demand for water supply is fed by groundwater. The main source of Pune’s water supply Khadakvasla Dam is fed by upstream dams Panshet and Varasgaon. An important observation is that the groundwater levels are best in the western parts of Pune city. And hence the plot owners would be wise to buy plots in these areas.
- IMPORTANT LOCATIONS
Pune is the second-largest city in Maharashtra and is a major cultural, educational, and industrial hub. Pune is also known as a bustling IT hub. As a buyer looking for plots to buy in Pune, one should look at the upcoming IT corridors like the Pune- Mumbai IT Corridor, Pune Airport Corridor, Nagar Road IT Corridor, and Solapur Industrial Corridor. These are some of the major corridors in Pune which is equipped with infrastructural, social, and economic advantages to make for a healthy and easy living.
However, before making the deal or buying the land one should verify the developer’s reputation and financial condition, compare different projects; check on the construction plan of the chosen project among other prerequisites before zeroing in on the plot that one is looking to buy in Pune.
