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Luxury Homes and Villas in vogue in Pune

Luxury Homes and Villas in vogue in Pune

Pune is turning out to be a favorite destination of many youths as the city offers good higher education along with employment options with many IT, and BPO giants. This has triggered huge demand for real estate in Pune city. Latest in vogue is luxury homes and villas. There is an increasing demand for luxury and sophisticated lifestyle in Pune. As per the data compiled by for the period Jan to April 2012, almost 8% of Pune home buyers are looking for an accommodation in 75 lac + price bracket. This is great news for the city which was considered an education & manufacturing hub just a few year back. What is even more surprising is the fact that around 3% of all home buyers are willing to spend 200 lac or more for their dream house in Pune.

Localities like Wakad, Baner and Hinjewadi have seen a rise in luxury property demand from the high-end buyers. The demand for Luxury homes and villas has not been affected by the soaring property prices or high home loan interest rates. Demand is growing for Pune luxury residential properties like bungalows, villas, apartments and duplexes. The developers are quick to cash in on this phenomenon and are offering housing that offers spacious rooms, sophisticated layouts, better space utilization, great interiors and features.

According to Price Trends, a tool that keeps a tab on the property price variation, average per square feet Pune property rates has seen an appreciation of 19.32% in the last year. Property prices have moved from Rs.3,963/- psf in May ’11 to Rs.4,671/- psf in May ’12. The average per square feet rate in Wakad, Baner and Hinjewadi are Rs. 3500/- to Rs. 4200/-; Rs. 4000/- to Rs.4300/-; Rs. 5500/- to Rs.6000/- and Rs. 3500/- to Rs.4500/- respectively.

Watch out this space for more research and analysis regarding Pune city real estate.

Tags: Buyers, makaaniq

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