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Second Homebuyers –Growing trend in Pune


Whilst first home is a necessity second home is an attractive investment avenue. The trend of buying second home is increasing and this is driven by the large aspirational middle class who are pushing up the demand for the second home. As the nation is progressing, the number of working population is increasing with the decline in the dependency rate, creating demographic dividend for the nation. Primary reason to buy a second home is an investment options and for some it is a weekend getaway. The reasons might be different, but investing in a tangible asset called "Home" will always be highly desirable.

As Pune is evolving as a "Smart City", the appetite for residential spaces is also increasing. The increase in the disposal income of the aspiring middle class has created a huge market for the second homebuyers. These home buyers are aged between 35 – 45 years, with large disposable income. As a smart investors they think to invest in a property at an stage, which will yield them greater returns on investment over a period of time. The moment the primary home gets secured, the buyer looks at options of second homes. Pune attracts second home buyers with innumerable factors to its favour. One of the reasons is the high rental yield and secondly the higher capital appreciation potential.

Thriving IT, ITES and Automobile sector and robust infrastructure has significantly contributed towards the growth of the city and has created sustained demand by the increasing working professionals in the city. Favourable climate with good socialising and entertainment options always attracted young working couples, who have high disposable income and desire for better lifestyle. With the reputation of "Oxford of the East", city provides youth friendly culture and a cosmopolitan experience that will stay with them for life. Now PMC’s  (Pune Municipal Corporation) initiative of Bicycle Plan is encouraging walker friendly environment with the objective to resolve traffic issues and control pollution is taking the city to a better future.

Pune has always been in the radar of the home buyers from the neighbourhood cities. Mumbai is one such place, which generates steady demand for second homes in Pune. The close proximity and the ease of connectivity due to Mumbai-Pune Expressway has been the major contributor for the fillip in the home buying demand. The abodes are much more cost effective than Mumbai and it has wide options at various price points. The city’s real estate has been very stable and being one of the best performing markets assures high rental yield and good appreciation of the property.

Hinjawadi and Talegaon are one the best performing real estate market in terms of investment. Especially Hinjawadi, which enjoys a rental yield of 4 to 5 percent makes it a hot place to invest. This has proved to be a good investment avenue, as many investors who have invested in these locations have received high return on investments as the value of the property has appreciated.

Lot of people who have sold their property and invested their money earned, get good returns and save capital gains tax.

Pune offering balanced life and emerging as a Smart City is aspiring many people to make Pune their second home.


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