Property prices in Pune are expected to remain firm

Property prices in Pune are expected to remain firm on the back of rapid growth of the city driven by strong economic activity and migration, said a report by real estate private equity firm ASK Property Investment Advisors. "Last year, Pune market witnessed 6-8% rise in property prices. It still remains an affordable market with stable outlook for job creation and this would keep the market positive even if other markets see any decline," Sunil Rohokale, CEO and MD, ASK Investment Holdings told ET. Around 80% supply of apartments in Pune is with configuration of two, three bedrooms and prices are still in the range of Rs 4,000 and Rs 6,000 per sq ft, making it one of the affordable markets, he said. Rohokale expects Pune being the hub of service and manufacturing jobs to see sustained job creation of 90,000-1,00,000 jobs leading to increased requirement of houses. The proximity of the city to major towns like Sangli, Satara and Kolhapur makes it preferred place for investments.

source: http://articles.economictimes.indiatimes.com/2012-01-07/news/30601985_1_property-prices-pune-job-creation