Undri is one of the swiftly developing areas of Pune and is very near to city industrial and IT hub. Undri is well-connected to other parts of the city and has good civic amenities.
Undri is a residential area located in the southern side of Pune. It became well-known after saturation on the NIBM Road. Undri is closely located to Hadapsar, which is one of the major economic zone of Pune and has three SEZs – Phursungi IT Park, Magarpatta City and Amanora Park Town.
Due to the arrival of various IT majors, there is a rapid influx of working professionals from outside the city. As a result, there has been a surge in the demand for residential apartments in Undri, with it being one of the noted suburbs of Pune. Although the prices of the flats in Undri are going up at a rapid pace, affordable housing to suit the needs of the mid and the junior-level executives of the various companies can still be found here.
The industrial growth and the growth of IT sector, have led to the development of the retail and hospitality sectors in the area.
Major roads which passes through the area –Kondhwa Road, Mumbai-Hyderabad Highway, Solapur Road, etc. with an extensive bus services.
Pune railway station is 10 km away from Undri. It takes about 45 minutes from Undri to reach the airport in Pune.
Major IT parks in near vicinity like Phursungi IT Park, Magarpatta City, SP Infocity, RMZ Westend and Amanora Park Town attracts working professionals to search for a home in Undri.
Some of the Pune reputed schools has presence in Undri which includes the City International School, Delhi Public School, Amanora School etc. Undri has an excellent social infrastructure with a presence of shopping malls too such as the Central Mall and Kumar Pacific Mall.
Price trends in Undri
Undri in Pune has witnessed a capital appreciation of almost 10-15 per cent during the last two years. The prices of properties in the locality have risen. With the addition of commercial space and areas close vicinity to major industrial hubs, demand will remain high.
Reasons to invest in Undri
Investing in Undri would be a good decision considering the price trends and rising demand,. Appreciation of property rates is expected as the area is very near to some of the Punes IT/ITeS and industrial hub of Pune. Undri is already a much demanded locality in Pune the scope of development is there. Considering these factors, Undri is an excellent area to invest.
Why people love Pune
The city has always been a prominent destination for education. Apart from education, Pune is a leading IT hub of India with several IT giants established here.
Pune has always been a dream destination
Pune has never lost its charm; it presents you a balanced combination of the modern and old era. Its old exotic places around the city for vacation, historical buildings, old popular restaurants, colleges and the newly come up fashionable malls, multiplexes and IT parks – everything fits in like a perfect collage. The upcoming infrastructural projects like metro and international airport add value to this city’s stature. People come to Pune from across the nation. The reason for them to migrate could be education, job opportunities, business growth; and eventually settle down in this beautiful city that is full of life. Many opportunities in education, diversified professional avenues, happening social and cultural life, great climate and thriving investment opportunities pull thousands of people to Pune to settle or invest here. The city has something for everyone.
The residential projects have also seen a significant leap over the years as the real estate witnessed growth in people buying for investment also. Buyers from various parts of India and NRIs as well have been very keen on investing in residential projects by reputed builders. Leading real estate entities like VTP Realty have been the trusted names that are coming up with meticulously created projects, which cater to the exclusive requirements of buyers. Two new prime projects, VTP Purvanchal and VTP Urban Nest are one of those projects that you must consider if you plan to buy a flat in Pune.
VTP Purvanchal brings you a wide range of 1BHK, 2BHK and 3BHK flats in Wagholi. Away from the hustle-bustle of highway, the project presents a calm and pollution-free environment. Wagholi area tops the list of favorite destinations due to its proximity to Kharadi IT hub. The project is well equipped with all the modern amenities and luxuries, which make life comfortable for your loved ones. With all the essentials like hospitals, malls, schools and colleges within your reach, living in VTP Purvanchal becomes not less than a relaxing vacation.
VTP Urban Nest
Another residential project, which you should not miss, is VTP Urban Nest. Situated at Undri, VTP Urban Nest is a combination of graceful architecture and aspiring lifestyle. Schools and colleges are at the corner making it the most sought-out residential project in Undri. You will find a range of luxurious flats made for modern Pune. Easy access to Katraj-Hadapsar bypass road minimizes your travel time and saves on your cost giving you additional time which you can enjoy at the fitness club in the premises. Almost 50% of the landscape of VTP Urban Nest is dedicated to open landscape and amenity space, which add to the comfort and health quotient of the residents.
Pune is a city of youthfulness, progress, joy and success with an undying nostalgia. Being a part of the city definitely brings loads of great opportunities, moments, memories and your home in Pune can definitely brings a Punekar in you!
Indian real estate sector has always attracted NRIs; many of them invest regularly in various thriving cities. Not only the happening and high-end areas but also the outskirts and developing townships in the metro as well tier II cities have been attracting NRIs. Investment in properties in flourishing areas is going to prove financially advantageous in the near future. Buying a property in India keeps you connected to your roots and gives a sense of belonging. The returning NRIs can reap the benefit of current stable prices; they can buy spacious and luxurious flats, villas or bungalows at reasonable rates.
Many of the NRIs buy residential property for their families back in India while many buy property for investment purpose and earn regular rental income. Renting out also ensures proper maintenance of the property. With the surge in businesses and people moving to cities, there is a huge demand for residential rental properties which ensures guaranteed returns on the invested money.
Why Rent Out & Save?
Renting out minimizes the continuous liability; in case of property loan, monthly rent can help to pay the EMI. Furthermore, it helps with the taxes as well. We have to pay tax in the country where we earn. NRIs also will have to pay tax in India based on their earning through rent. However, they do not have to pay tax on the total rental amount. They need to consider following deductions to know the taxable rental income
- The taxes paid to local municipal authority
- Interest paid on the property loan for constructing, repairing etc.
- Residential property rented out for at least 300 days in a calendar year does not call for any wealth tax. Furthermore, the income from flat, villa, bungalow, penthouse i.e., residential property is liable to tax only in the year of receiving the rent.
Even the Indian government has many newly formulated policies such as not treating the investment of a person rooted in India as foreign investment. According to an industrial report, NRIs in UAE who are between the ages of 18 to 35 hold almost 43% of real estate investment in India. The scenario is very promising and encouraging for the NRIs who are planning to invest in India for better returns from Indian real estate sector. Delhi-NCR, Pune, Ahmedabad, Mumbai, Hyderabad, Bengaluru, and Chennai have been the top cities preferred by NRIs to invest.
Real estate is now a good arena for foreign investments. The NRI population or the people rooted in India but staying abroad are investing in Indian realty sector for self-use, future planning and even for rental purposes. India at present is facing a considerable boom in real estate business and studies reveal that this boom would continue for another couple of years. Where the economy is on its way to advancement, the banks are always eager to grant loans to those who are willing to invest in the real estate.
The government is taking investment-friendly measures in diverse fields including real estate. Measures like RERA work in favour of all property buyers and have brought more transparency to the real estate deals. Furthermore, developers are also coming up with projects that would interest the NRIs based in the UK, the US and the Asia Specific Region.
Why young NRIs should buy a property in India Come Back To The Roots– Young NRIs earn handsomely in the country where they work; many young NRIs aim to come back and settle in India in the long run. Owning a property in India helps them keep connected to the country and their people. If they plan to start a business, the property in India can help to generate capital or can be used as the office.
Currency And Stable Pricing Advantage- The real estate prices in India are comparatively low and can bring huge returns in future. The currency difference gives an advantage to the NRI buyers when the transactions happen in Indian currency. NRI home loans are also available from all the authorised Indian banks.
Rental Earning– NRIs can ensure regular income by renting out the property. The owner can receive the income earned through rent after paying 30% TDS under the Foreign Exchange Management Act rules.
Plan Your Retirement– Everyone wants to have a relaxed retired life. Buying property in India can bring the advantage of the reverse mortgage. The income earned through the reverse mortgage is not taxable which proves beneficial for aging NRIs.
Tax Benefits– Buying property in India offers tax exemption to NRIs like other Indian citizens. The NRIs can claim the tax deducted on principal repayment and interest of the home loan. Along with this, if the property is sold after two years of purchase, the earned profit does not call for any income tax.
Growing number of NRIs have been investing in the real estate sector of India. NRIs from the age group of 18 to 25 years are the prominent investors. Furthermore, the recent favourable real estate scenario and the investment-friendly government policies play a pivotal role in the augmenting NRI investment.
Realty in India has generally stood out as the most exciting investment opportunity among individuals. The ever increasing growth in the economy coupled with an increase in the purchasing and spending power has just added to the growth in the real estate sector. With the growth of the sector on one hand, there are also some deep rooted myths which the sector has been dealing with. These growing myths and misconceptions have tricked investors and home buyers into making wrong decisions. Regardless of whether you are into the realty business or not, if you are intending to put resources into land, here are some myths you will go over, while considering a property purchase.
- Property investment depends on the market situation
While this announcement is possibly somewhat valid, there are different elements that should empower you to choose when you ought to invest into your property. There are several investors who are first time buyers, who need to consider other factors also before investing in a property apart from the market scenario. Aspects like personal affordability, bank home loan interest rates, your age factor and so on can play an important rule in making the wise home buying decision. The motivation behind venture is likewise an imperative factor. On the off chance that you are thinking about purchasing your home at a more young age, at that point you are probably going to claim your home sooner. It is important to get the right assistance from a financial planner, rather than keeping the market condition as the sule base for your property investment decision.
- Investment in real estate is a risky affair
Real estate is frequently viewed as a very unsafe suggestion because of the market being exceptionally unstable. While yes, there are often chances that the market can go down considerably lowering the sales returns that you will get at the time of sale, but the fact is that every investment comes with a certain amount of risk. Realty ventures are thought to be of great interests when they are held for longer timeframes. You can significantly decrease your dangers by putting resources into a property that is encompassed by some infrastructural pull. Once more, the type of property you invest into likewise has a significant effect on the normal come back from the venture. While the risks are many, they are figured risks that can be lessened to an expansive degree by settling on an educated purchasing choice.
- Developers delay projects on purpose
Property investment is often guarded by a concrete myth that the project will be delayed by the investor. Most people think this to be a trick by the realty developers, however while project delay seems to be the most common problem, most of the big developers will vouch by the fact that developers never delay the projects without any purpose. A knowledgeable and professional developer is likely to try their best to ensure delivery and completion of the given projects as a delayed project is also an additional expenditure for the developers. Real estate in India is largely governed by several government and civic bodies for approvals. Premium residential properties have to undergo a series of approvals to go through, like land approvals, environmental clearances, and occupational certificate and so on.
- You should only trust big names for better value
The myth that is regularly connected with the home purchasing process is that exclusive huge developers and contractors does complete justice to the investor’s value for money. This myth has however emerged as the biggest misconception of the sector as real estate trends have shown how several large developers have failed to keep up their words and timelines on projects, while mid-size developers have delivered projects in the promised timeframe as well as maintained high quality of construction.. Truth be tuld, a portion of the fair sized engineers are even dedicated to conveying quality courtesies and even keep in mind the undertakings for facilitate upkeep after the consummation of the task.
- Metro cities are the only places for good real estate investments
The fact is far from this myth. According to sources, the metros are now saturated with developments and are not seen as a much value-buy from an investment perspective especially for the middle class. Focus for the next phase of real estate boom is now shifting towards Tier II and Tier III cities, which are now experiencing the infrastructural boom, making it the right time for investors to plug in their funds. Pune, Ahmedabad, Ludhiana, Coimbatore and Lucknow are some of the cities that are being looked at as viable investment propositions guaranteeing good returns for the future.