The current global scenario has become better for most industries and the great depression is the thing of the past, real estate developers of Pune are looking ahead for increase in rewards. It is predicted that the real estate sector in India will do better than expected and slated to grow by 8.5 percent in the current fiscal. The growth is courtesy the never quenching demands of properties in Tier I cities of Mumbai and Delhi and Tier II cities such as Bangalore, Pune and Chennai. It is also seen that preferred configurations are 2BHK in the city and 3BHK in the outskirts. So if you are waiting for an upcoming project by a real estate developer in Pune to buy an apartment, you are up for a great surprise.
Pune properties have seen great escalation in the recent years and the prime reason has been the city’s industrialization and the promise of better employment. Industrialization has increased the requirements of luxury apartments in Pune and developers are leaving no stone unturned to milk the opportunity. The Government of Maharashtra has also ensured that in the race of industrialization, the economically weaker sections are not left in a lurch. The proposed Maharashtra Housing Regulatory Development Act ensures that the developers in Pune and rest of Maharashtra have to keep 20% of their total Floor Space Index (FSI) for the people from the low-income group. This would ensure housing for everyone in the rapidly developing Pune; these flats will be allotted to people on the basis of lottery.
Further, MHADA will take five percent commission and give the rest of the money to the developers. Although, it yet to be seen if the real estate developers in Pune take it as a positive move. But most of the prime real estate developers of Pune know their responsibility towards the society, and therefore they are involved in many Corporate Social Responsibility (CSR) initiatives. Panchshil Realty, one of Pune’s most premium real estate developers has always been socially responsible.
Since commencing operations in the year 1996, Panchshil Realty has developed 10 million square feet of prime residential and commercial properties. The portfolio of this developer in Pune spans across high-end residential developments, IT parks, built-to-suit office spaces, special economic zones (SEZ), hotels, convention centers and luxury retail malls. Its projects in Pune include One North, Casa 9, Eon Waterfront, W Villas, The Residence, 86 Banyan Tree and yoopune. With an excellent team of skilled professionals, it is hardly rocket science to understand why Panchshil Realty is calling the shots when it comes to real estate Pune!
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