If you’re rich and looking to buy a luxurious house, head to Pune!

Pune is the budding hot property in India! And luxury home buyers are flocking the city to grab a chunk of it. According to industry players, the luxury property in Pune has drawn massive interest from the superrich both in and outside the city.

“Price points for Pune luxury homes are lower than for comparable options in over-heated cities like Mumbai. Luxury homes in Pune are more spacious and have superior individual specifications as well as common-use luxury amenities,” said Kishore Pate, chairman and managing director of Amit Enterprises Housing Ltd.

Additionally, he said that since the city climate is pleasant, it provides for an ideal setting for luxury homes. “Unlike in Mumbai, there is no need for wasteful year-round air conditioning. The investment value of luxury homes is very high, as there is constant demand for them,” he explained.

Besides, one of the primary requisites for luxury home is ample space, which is not available in the big cities such as Mumbai.

“The Pune luxury homes market is not restricted to ugly, polluted, over-developed and overcrowded ‘prime’ locations’. Since it is a relatively compact city, commuting from various parts of the city is easier. As in Mumbai, the demand for luxury residential units in Pune is highest in areas that provide ready access to the central business district and employment nodes,” he noted.

While the traditional expensive areas of Pune such as Sahakarnagar, Boat Club Road and Kalyaninagar have witnessed continuous demand from home seekers, suburbs such as Baner, Aundh and Ambegaon too are witnessing demand for luxury homes in these locations.

“These locations provide scenic natural splendour as well as excellent connectivity to the city’s economic nerve centres. This aspect has proved to be a major draw for Pune’s Generation Z luxury home seekers,” said Pate.

Interestingly, the demand for luxury housing in Pune has been steadily growing evenwhen the market for luxury homes in Mumbai has been heading south. Pune property market is expected to grow tremendously, driven by the demand for luxury homes in the city.