Introduction
In a laconic sense, the culturally rich city of Pune can be introduced as a thriving and vibrant city. Pune is an academic and business center that epitomizes India and through the reign of Chhatrapati Shivaji Maharaj and the Peshwas, the charm of colonial-era has been retained in its old structures and residential areas which has created a perfect blend of an old and new culture. Apart from being the ninth most populous city in India and the largest city (civic body) in the state of Maharashtra, it is also considered the cultural capital of Maharashtra owing to its rich past which has created a well-balanced society that accommodates people of all age groups and occupations. Pune is also known as “Oxford of the East”, as it is a popular student destination owing to the high number of prestigious educational institutions that bring in tons of students from around the globe.
Evolution of Real Estate in Pune
The psyche of people living in Pune has always stood apart from the rest of the country. People here are quite practical and like to enjoy their lives while working. The presence of such a gentry has motivated Pune to evolve rather rapidly when compared to other cities and its proximity to Mumbai has also been a strong reason behind its massive growth.
Large-scale infrastructural developments across the city have had a direct impact on the real estate market as it leads to the development of new residential projects to match the rising number of migrations from around the country. The land rates offer options for both luxurious and affordable residential projects. By the general rule of thumb, the better the infrastructure, the better the property value, and Pune is now the ‘IT’ city for a millennial to live in. Humble people enjoy a magnificent climate in an ever-growing job market the Pune residential real estate market has seen the highest appreciation in India in recent times.
What is more interesting is the fact that the Pune Real Estate market has continued to grow despite the overall slag in the Real Estate market in the country. This is mainly thanks to the strong economic drivers driving the city and with the information technology sector spearheading the job market scene in the city, Pune has evolved into a lucrative hub for the Indian youth to call it home and settle there for good, the city is expected to boom at an unexpected rate in the decades to come.
Noteworthy real estate landmarks in Pune
Holding the combined essence of old-school culture fused with the urbanized developments, here are a few real estate landmarks in Pune:
- Vidhan Bhavan: It was built in 1870 by the British and the structure stood strong for a century before going into restoration in 2011.
- Pune University: It was built in 1864, during British rule, the university building was used as the residence of the governors of Bombay.
- Ohel David Synagogue: One of the largest synagogues in India, Ohel David Synagogue was started in 1863 and was completed in 1867 holds a strong position in the cultural heritage of Pune.
- Infosys Dome, Phase 2: Spread over 120 acres, as the epitome of beautiful infrastructure and modern architecture brings in the touch of modernization in the dual-cultured city of Pune.
- Aga Khan Palace: Holding a great significance to the Quit India Movement, the Aga Khan Palace stands strong as a marvel of construction with Italian arches and spacious lawns spread across 13 acres.
At RGS Realty, we are here to contribute to this long and vibrant legacy of Pune with an oath to build good real estate landmarks and write our own legacy in the pages of Pune Real Estate Market. Visit www.rgsrealty.com to catch a glimpse of your work and get to know about us!