How plotting system is growing in Pune?

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Pune, 13th February 2024: Nitin Gupta, Founder and managing Director at Maestro Realtek, shared insights about how the plotting system is growing in Pune. 

Gupta is a dynamic, goal-focused, and versatile professional with an impressive track record of over 18+ years in Marketing and sales, and Distribution Management of Financial Products and Real Estate. He has been instrumental in providing strategic sales, marketing, CRM, cash flow, and project design solutions to real estate developers and landowners, driving brand growth, and ensuring customer satisfaction. 

What are the scenarios for plotting market growth in Pune?

Pune is ranked fourth among Indian cities with the highest demand for plots, reflecting the growing interest in plotted development projects. Renowned developers are investing in such projects, making them an attractive option for investors seeking land in Pune. These developments offer promising investment opportunities due to Pune’s flourishing IT and automotive sectors, which have spurred infrastructure development. The completion of Phase 1 of the Pune metro, upcoming airport projects like Purandar airport, and the establishment of external and internal ring roads have significantly improved connectivity within the city, enhancing its appeal to investors. 

While lands are getting turned into plots for villas and other projects, are farmers getting a fair price for their land? 

Farmers are benefitting from appreciating land values, with prices varying based on proximity to Pune. Lands situated around 100 km from Pune are priced at around 3 lakh per acre, while those closer, around 20 km away, command prices of up to 1 crore per acre. This suggests that farmers are receiving fair prices for their land, especially as urban development continues to expand outward from Pune. 

How has been the response of property buyers or customers towards plot buying? 

Investors and buyers are favoring plot investments in Pune over other forms of property due to several advantages. Unlike apartments, plots lack depreciating elements and typically appreciate over time, providing stability and potentially higher returns. The allure of plot investments has increased amidst fluctuations in the stock market and high gold prices, as land investments are perceived as safer and offer better short-to-medium-term returns. Additionally, plots in areas near major cities like Pune are expected to see significant value appreciation over time, making them an attractive investment option. 

What is the reason for builders and developers are opting for plotting projects?

 The surge in demand for land in Pune’s suburbs and peripheries has prompted builders and developers to consider plotted development projects. This shift is driven by the scarcity of land within the main city and the comparatively lower prices in suburban areas, coupled with the potential for value appreciation. Key locations such as Manjari, Hadapsar, Alandi Mahatobhchi, and Pirangut have emerged as hotspots for plot investment, attracting the attention of both investors and developers. The entry of prominent developers into the plotted development space underscores the market’s maturity and growth potential, reflecting the increasing interest in this segment of Pune’s real estate market.