10:14 AM
Bhautik Joshi
Pune as a city is witnessing a rapid growth due to strong foothold of IT industry and good education facility available in the city which makes it the Oxford of the East, when i moved here to Pune 5 years back from Mumbai, i did not knew much about the city then and felt it to be a like a regular Tier II town and not even a city, gradually i realized that the city was congestion free in comparison to the swarm of human population clogging up Mumbai which has eventually stressed out public infrastructure badly.
Pune has the highest 2 wheeler population in the country still, the road conditions and road length is much better in comparison to Mumbai, however it suffers from a bad public transport system and still no sight of serious attempts to be made to improve this facility becuase of which increasing number of two wheelers and cars are swarming the roads and errant rickshaw drivers are becoming synonymous to the city, also getting people for domestic work like carpenting, plumbing, electric work is not easy as mumbai and you would not find bhajiwala's, road side stalls in each and every corner of the city like Mumbai to purchase veggies and fruits or satisfy your taste buds.
I think real estate market in Pune is very good option for people looking at property as an investment, to me flats in Mumbai have almost become like matchbox houses where you have to pay exorbitant price for a 700-800 Sqft home, developing Mumbai to level of Shanghai or Singapore is a distant dream, the city is collapsing slowly but steadily and has no bright future is what is strongly believe. Mumbai has reached it's saturation point and had being milked to the maximum for commercial benefit unnecessarily hiking property rates. There is an impending risk of Mumbai submerging under water due to rising threat of Global Warming, Navi Mumbai has being built on marsh land the so called mega city is being choked to death imagine a city of the size of Barbados holding population equivalent to that of whole Greece.
Pune has lot of new and existing residential projects which have being established on integrated township model, the biggest success here is Magarpatta which has set the standards for other projects, Amanora is another large project under development in Pune. Integrated townships offer lot of benefits to residents like sharing of common recreational facilities for children, which can be well maintained, builders are providing sufficient green cover within the integrated township for residents, jogging tracks, better security, better waste management, opportunity to get concessions from PMC if the township opts to adopt eco friendly measures like solar electricity, vermicompost pits for waste management. As a resident of Integrated township residents also start getting general stores, departmental stores, entertainment options within their vicinity which in a way helps to cut down on the need take their vehicle out and travelling distance away from their place.
Integrated townships are also coming up in Pune near IT parks which further give advantage to people to travel less distance to work, easing down traffic on roads and stress for employee to wait in traffic while commuting to work. as an investment option for property owners it is much easy to rent out their property and earn rent income as Pune is witnessing influx of working population in the IT industry raising the demand for housing development and need of more business hotels in the city, the difference here in Pune is that as a city the cost of living is higher than Mumbai.
Migrant labour population is not a concern for now, becuase a person boarding train to Mumbai from his village gets cheap public transport at his disposal, shanties and slums to stay, option to start up a roadside wada pav or tea stall wherever he wants, that's not the case in Pune. Slums are concentrated in few areas of pune and not widespread as Mumbai, absence of a good public transport makes it expensive for such migrant population to move around for work while staying in the city. Thankfully footpaths in Pune are still available for the purpose they have being made for "Walking" and not a business counter for roadside vendors, you can find foothpaths with roadside vendors mostly on MG road. I think till the time Pune does not earn a proper "City" tag it would continue to remain free from the problems Mumbai has being facing however the city administration is failing to keep up pace to the growth of city which is raising threat to the quality of life people have being enjoying up to now in the city.
Pune has the highest 2 wheeler population in the country still, the road conditions and road length is much better in comparison to Mumbai, however it suffers from a bad public transport system and still no sight of serious attempts to be made to improve this facility becuase of which increasing number of two wheelers and cars are swarming the roads and errant rickshaw drivers are becoming synonymous to the city, also getting people for domestic work like carpenting, plumbing, electric work is not easy as mumbai and you would not find bhajiwala's, road side stalls in each and every corner of the city like Mumbai to purchase veggies and fruits or satisfy your taste buds.
I think real estate market in Pune is very good option for people looking at property as an investment, to me flats in Mumbai have almost become like matchbox houses where you have to pay exorbitant price for a 700-800 Sqft home, developing Mumbai to level of Shanghai or Singapore is a distant dream, the city is collapsing slowly but steadily and has no bright future is what is strongly believe. Mumbai has reached it's saturation point and had being milked to the maximum for commercial benefit unnecessarily hiking property rates. There is an impending risk of Mumbai submerging under water due to rising threat of Global Warming, Navi Mumbai has being built on marsh land the so called mega city is being choked to death imagine a city of the size of Barbados holding population equivalent to that of whole Greece.
Pune has lot of new and existing residential projects which have being established on integrated township model, the biggest success here is Magarpatta which has set the standards for other projects, Amanora is another large project under development in Pune. Integrated townships offer lot of benefits to residents like sharing of common recreational facilities for children, which can be well maintained, builders are providing sufficient green cover within the integrated township for residents, jogging tracks, better security, better waste management, opportunity to get concessions from PMC if the township opts to adopt eco friendly measures like solar electricity, vermicompost pits for waste management. As a resident of Integrated township residents also start getting general stores, departmental stores, entertainment options within their vicinity which in a way helps to cut down on the need take their vehicle out and travelling distance away from their place.
Integrated townships are also coming up in Pune near IT parks which further give advantage to people to travel less distance to work, easing down traffic on roads and stress for employee to wait in traffic while commuting to work. as an investment option for property owners it is much easy to rent out their property and earn rent income as Pune is witnessing influx of working population in the IT industry raising the demand for housing development and need of more business hotels in the city, the difference here in Pune is that as a city the cost of living is higher than Mumbai.
Migrant labour population is not a concern for now, becuase a person boarding train to Mumbai from his village gets cheap public transport at his disposal, shanties and slums to stay, option to start up a roadside wada pav or tea stall wherever he wants, that's not the case in Pune. Slums are concentrated in few areas of pune and not widespread as Mumbai, absence of a good public transport makes it expensive for such migrant population to move around for work while staying in the city. Thankfully footpaths in Pune are still available for the purpose they have being made for "Walking" and not a business counter for roadside vendors, you can find foothpaths with roadside vendors mostly on MG road. I think till the time Pune does not earn a proper "City" tag it would continue to remain free from the problems Mumbai has being facing however the city administration is failing to keep up pace to the growth of city which is raising threat to the quality of life people have being enjoying up to now in the city.
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