Low Cost Housing in Pune
Recession was a huge blow to the housing industry in India. The prices of home spiraled like never before and there were no takers to talk off. People waited for the phase of downturn to pass of before they again engaged themselves in the property dealings once again. The low cost housing in India-Pune gained much prominence during the downturn when the cost of two BHK apartments became costlier. Although Pune is a sought after location being close to Mumbai, nevertheless the places is costlier in terms of real estate, food, and transport than many other bigger cities in India. Developers also felt the need of developing affordable housing in Pune.
The low cost housing in Pune is one of the main concepts that are fast developing in the Pune real estate market. The housing market in Pune that is largely expensive in the areas located around the IT hub is another influential factor for development of low cost homes in Pune for the middle income group. The greatest challenge for the developers lie in choosing of locations and land for construction of buildings that would be affordable. The price range of budget homes in Pune has been fixed at 20- 25 lakhs for 2 BHK flats and 21-18 lakhs for 3 BHK flats. The apartments that are available both on rent and lease cost around 8,500-11,000 per month near the IT zone on rent. Lease apartments for a year can be 1 lakh-1.5 lakhs per annum.
Commercial low cost housing in Pune
Bing a strategic location for professionals, Pune invites a lot of multinationals to open office within its city limits. This has eventually led to the rise in demand for office space and particularly at the A-class and B-class level. Rents for office rents vary largely depending on the location, type of office, and the number of employees. Educational institutes and coaching centers also find rooms on rents either on quarterly basis or per month. For an office space of above 4,000 square meter, that is often hired by big call centers and even government offices, rooms are not less than 1 lakh per month! If this seems to be expensive for you make sure that you satisfy yourself with the low cost housing in India- Pune that offers you a space of 2,500-3,500 square meter so that the rent is around 20,000-50,000 per month for office above fourth floor.
Low cost housing projects in Pune
With the initiatives of the state government and the private builders, several low cost housing projects have made way for local residents and other professionals in Pune. They are built in areas where otherwise flats are very expensive. Like the Vastushodh's 2 BHK Flat for 20 Lakhs Project at Kondhawe Dhawade Pune and Mont Vert Belair at Bhugaon Pune. In these areas other flats may range from 30-40 lakhs!
Another popular low cost Low cost housing in India- Pune project implemented in 2008 was the joint venture between Sterling Construction Systems (SCS) and Eredene Capital Plc, a UK-based venture capital fund, which has given Rs100 crore to the project, Tanaji Malusure City, will have over 10,000 flats of 300 to 500 sq ft at Karjat in 3.5-7.5 lakhs to the Pune residents.