Why 2024 is the Year to Invest in Pune Real Estate: Tejraj Group Insights
Often referred to as the ‘Oxford of the East’, Pune has witnessed tremendous growth in the real estate market driven by fast-paced infrastructure such as Pune Metro, booming IT industry and the birth of educational institutions
The Pune real estate market has evolved into a dynamic and flexible industry, attracting domestic as well as international investors. With continued demand for residential and commercial space, especially in fast-growing areas like Kharadi, Hinjawadi and Baner. Pune offers investment opportunities for residential and commercial properties, making it one of India’s sought-after real estate sites happens.
As Pune’s population grows, the job market continues to expand and the city promises sustainability, 2024 looks to be a unique opportunity for investors.
So, why is 2024 the year to invest in Pune Real estate?
The Pune real estate market is experiencing significant growth, making it one of the top investment destinations in India. Here’s why you should consider investing in Pune’s booming real estate sector.
Robust Economic Growth
- India’s GDP growth rate in 2023 was 6.3%, despite global economic headwinds.
- This stable growth trajectory positions India as a prime destination for real estate investments in 2024.
Source: Knight Frank Research
2. Booming Real Estate Sector
- Property prices have grown 15–20% since pre-pandemic levels (2019), with a 6-8% quarterly increase.
- Residential sales grew by 33% year-over-year, indicating sustained buyer demand across key cities like Pune.
- New launches in top cities rose 20%, reflecting strong developer confidence.
Source: Knight Frank Research
Prime Pune Localities
- Hinjewadi topped Pune’s property sales chart in 2023.
- Kothrud emerged as the most searched locality for renting in Pune.
- Localities around commercial hubs are likely to experience faster price appreciation.
4. Shift in Buyer Preferences
- Demand for gated communities and ready-to-move-in homes has surged.
- High-intent searches for 3+ BHK properties have grown 6x, reflecting a trend toward larger living spaces.
5. Investor Confidence
- Investors are returning to the market, viewing real estate as a long-term wealth generator.
- A 7.5x jump in online searches for premium properties indicates growing interest in higher-value homes.
Source: Knight Frank Research
6. Rental Market Surge
- With limited ready inventory, Pune’s rental market has seen rents increase by 25-50% from 2019 levels, making it an attractive market for investors.
7. Technological Integration
- The rise of PropTech (real estate technology) is transforming the market with innovations like AI, 3D printing, and VR, further driving real estate development efficiency and consumer engagement.
So, why is Tejraj Group the perfect choice when it comes to buying a home in Pune?
Tejraj Group is one of the leading real estate developers in Pune. The company has built a strong reputation over the past three decades that is synonymous with integrity and transparency. The company has also won several prestigious awards such as Best Developer of Luxury Accommodation, Best Developer in Platinum Luxury Projects and more by Times Group for the year 2023-2024.
The team understands that luxury goes beyond just aesthetics; They offer a world-class lifestyle experience by constantly innovating, ensuring that every project is designed to cater to the varied desires of each client. Projects such as Tej Elevia in Baner, with its unique rooftop skyscraper, exemplify their commitment to providing amenities that redefine comfort and luxury.
Tejaraj Group excels in selecting prime locations for their projects. Their developments in strategic areas like Model Colony, Baner and Shivajinagar provide easy access to essential services including schools, hospitals, malls and transport hubs Moreover, their homes are conveniently located near shopping centres such as the Baner Business District and IT parks to ensure connectivity and convenience.
The team’s dedication to exceptional customer service ensures a seamless home-buying experience from inquiry to ownership and beyond. Their focus on building lifelong relationships with homebuyers creates a sense of belonging and lasting satisfaction.
Conclusion
Pune’s real estate market is booming, driven by infrastructure, a growing economy and a high standard of living. Pune is a destination for investors looking for a market with strong potential and opportunities.
Tejraj Group stands out as the perfect choice when buying residential and commercial real estate in Pune, offering luxurious services with high-quality finishes for all needs and desires. Whether you are looking for long-term appreciation or a steady rental income, investing in Pune’s real estate is a smart move in 2024.
FAQs
- How to invest in Pune’s Real Estate market?
- Before investing in Pune’s real estate market, research market trends, and identify growth areas.
- Set a budget, choose between residential and commercial properties and partner with reputable developers like Tejraj Group.
- Conduct thorough legal due diligence and consider future infrastructure developments.
- Regularly monitor your investment to capitalize on Pune’s growth potential, making 2024 an ideal time to invest.
2. What is the future of real estate in Pune?
Pune’s real estate market presents a promising future, with a range of opportunities for homebuyers and investors alike. By capitalizing on the city’s economic growth, infrastructure development, and evolving trends, investors can expect strong returns and long-term value appreciation in the years to come.
3. Is it worth investing in Pune real estate?
Investing in the Pune real estate market is worth it due to its strong economic fundamentals, ongoing infrastructure developments and favorable demographic trends, with the potential for capital appreciation and a steady rental income stream.
4. Which area in Pune offers the best rental returns?
The areas that offer the best rental returns are areas in central Pune like Model Colony, FC Road, and Law College Road along with western suburbs like Baner, Wakad & Balewadi.
