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Real estate prices in Pune soars 70%

The overall, real estate prices in Pune, have risen by 10-25% in a year and by as much as 50-70% in select areas.

This price rise gets its appreciation from the rapid expansion of IT/ITES sector in Pune, thereby driving demand for both commercial as well as residential real estate. the recent announcement for opening up of first of two new buildings at Hinjewadi has seen an influx of professionals into Pune and the neighbouring areas driving up real estate prices.

With real estate prices increasing, the consumer price index in Pune has increased from 467 points to 504 points during July 2005-2006, the highest increase of seven cities including Delhi, Mumbai, Hyderabad, Bangalore, Ahmedabad, Chennai and Kolkata.

However, a boom alone cannot sustain a city's economic prosperity. Its the basic development in infrastructure that survives.....
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  • Residential property values in Pune prime areas are firming up in the wake of demand from the information technology sector.

    what i feel is the genuine demand for smaller flats will gain momentum in the next six months as the buyers are realising that prices will not decline any further..
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  • I live in Pune and being a realtor I have witnessed the price hike in real estate pune where commercial rental values have shot up by 20 per cent in the last five-six months.this may be because the city has caught the eye of IT businesses and call centres.

    Industry estimates indicate that as much as 1.2 million sq ft may be required in the next 12 months in this pensioner's haven to meet the demand for upscale commercial space.
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  • for safety

    Hi Friend....
    Do you know that due to rapidly gowing real estate market in Pune, The City Improvement Committee (CIC) in Pune has decided to allow high-rise buildings with a maximum height of 100 metres. The move will help ease the demand for residential and commercial real estate as developers build higher, and also keep price inflation under control.
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