Being the seventh-largest industrial hub of the country Pune is booming faster than expected. According to reports, the Pimpri-Chinchwad area currently has about 20 lakh square feet of commercial properties and a demand of close to 40 lakh square feet.
Moreover, various reports of IPCs also indicate, that the commercial operation in Pune will boom in the coming few quarters and likely reach its peak by 2026. In spite of the hybrid model of working, the studies demonstrate that people are preferring to live closer to their workplaces, so this shift in demand is opening a huge market for real estate builders and developers.
Here are a few pointers on which real-estate builders and developers are focusing on this year-
Implementing Green building initiatives
Making sure that the projects generate a good return on investment
Turning housing projects into pocket-friendly investments.The transformation of Pune into an employment hub
Enhancing connectivityÂ
Nevertheless, Pune’s improving infrastructure is creating an opportunity market for real estate developers to develop their interests in residential properties. The continuous expansion of Special Economic Zones (SEZs) in Pune, coupled with better connectivity, has sparked the interest of the public.
As per the MarketBeat report in Q4 2022, Pune’s residential sector noticed a significant rise of 68% on a q-o-q basis and 56% growth on an annual basis. Almost 15,328 launches were recorded last year. Pune is constantly recording a growth of 56% from 2021, for a quarter and a year. Whereas, in H2 of 2022, Pune recorded 3.6 msf industrial lease transactions- a rise of 60% on a y-o-y basis and a steady growth of 80% compared to 2021.
Latest Innovations & TrendsÂ
Latest Innovations & trends that are taking place within the real estate industry. Do you know 70% of customers prefer to visit homes online and more than half of the houses are booked through websites? This describes how the majority of buyers are choosing technology over field visits and long negotiation rounds on call. Here are a few pointers on which established real-estate developers are focusing on in the coming years-
Artificial Intelligence
Real-estate developers are utilizing various platforms that allow them to enhance their website experience, or using robots to allow their customers to have a virtual tour from the comfort of their homes. Furthermore, many AI tools are also helping developers to automate repetitive tasks, like answering customers’ queries and they are also using predictive analytics to sort the heap of data and find the target customers.
Green Building Initiatives
As we have mentioned above, many renowned real-estate builders are gravitating towards making the spaces much more environment-friendly. Throughout the city, you can easily spot a variety of solar panels and water harvesting systems installed on properties and businesses to maximize their use of natural resources. These green building initiatives not only make your lifestyle healthy but also saves a lot of money in the longer run.
Smart home integration
The smart home is such a technology that has been a dream of all of us. We can observe people investing their money into Alexa or even Amazon Echo to bring their busy schedules on track but what if we say that now houses are made with built-in technology in mind? Yes, you heard it right. Here are some of the appliances and systems which are installed in the properties that need minimal human handling-
- Televisions
- Speaker systems
- Lights
- Security systems
- Thermostats
These smart homes are upgraded every year by installing something much more interesting than the earlier ones. The fact that it simplifies the lives of buyers makes it also a popular choice amongst buyers.
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