A study by Assocham last year on the real estate scene in India indicated that the large Malayali and Punjabi NRIs are buying the houses of their liking. The study was based on the fact that Malyalis and Punjabis have migrated in hordes over the years. Some of them are also buying commercial space, it claimed.
It’s ironic that a sector worth $140 billion that has weathered the market crash twice in the last around a decade and still emerged as the fastest growing contributor to the GDP has not been granted even industry status in India.
Hinjewadi is the fastest developing IT hub of Pune located north-west to Pune city. Hinjewadi is 10 km from Pune city, 21 km from Pune airport and 16 km from Pune Railway station.
Hadapsar is an eastern suburb in Pune City, well known for two SEZs Magarpatta city and Fursungi IT Park. Amdocs, John Deere, Accenture, EXL, IBM, TCS, Aviva, Honeywell and Zensar are among the few IT companies in Hadapsar. Hadapasar is picking up as many big real estate projects have come up in the vicinity.
The Confederation of Real Estate Developers’ Association of India has expressed concern over “painting” the ‘loan-for-bribe’ as a scam. It says such negative projection would lead to drastic reduction in credit for real estate companies.
The eastern corridor of Pune has witnessed rapid growth in commercial sector as Grade A developers have ample stock to lease in the area which enjoys an advantage in terms of social infrastructure, connectivity to other parts of the city, abundant residential options, proximity to airport and railway station among host of other advantages.
The Confederation of Real Estate Developers’ Associations of India has expressed displeasure about the proposed Model Real Estate (Regulation of Development) Act in its present form, saying it could lead to an escalation of prices of housing stock in the country by Rs 300 per sq ft.
The status of seniors in Indian market is experiencing a sea-change, owing to their growing cohort size, augmented financial independence and change in mindset. They are no longer considered as a withdrawn, risk averse and financially dependent class of citizens.
Mumbai is the financial capital of the country. While it is still a far cry from being comparable to Shanghai in terms of aesthetics and infrastructure, the fact remains that most large corporations and financial institutions have their presence in this city.
Pune’s growth and development have coincided with the boom of the IT industry, resulting in the city’s transition a pensioners’ destination to a vibrant metropolitan city. A lot of this change has been witnessed over the last 8-10 years. The skyline of the city is now defined by apartment development – the majority of which are about 7 to 11 storeys high.