No doubt Pune real estate is heading upwards since last decade and still the trend is continuing to achieve newer heights. We can give credits to automobile industry, IT industry, education sector, retail sector and geography of the city. There is another factor that goes unnoticed because it cannot be directly linked to the real estate growth in Pune and that is Health sector. You may surprise what health sector has to do with realty but it is true and it is one of the indirect real estate driving force in Pune city. Pune has emerged as an advance health care centre in not only Maharashtra but in the country as well. It can be easily compared with nearby metro Mumbai in terms of medical facilities and that too at an affordable cost which is an added advantage for the residents. Pune not only provide allopathic treatments but other lines of medical treatments like Ayurvedic, homeopathic, naturopathy are also available here with good facilities.
As we know Pune used to be a senior citizens paradise and all elderly would prefer a place to live nearby a modern health centre which can cater their emergency needs. In past people used to buy properties on budget criteria only but now the focus is shifting from budget to schools, offices, medical facilities and shopping centers in the vicinity. Budget is still on the criteria chart but other factors are also gaining importance equally. All new townships are coming up with advanced health care centers or hospitals in their premises in order to attract buyers and to provide their consumers the state of the art medical facilities just minutes away from their residences. Thus these homes become the first choice of not only the end user but also for an investor who can get better rentals of a property situated in the vicinity of all prime necessities.
Pune has also become an important centre in health care services as people from all over Maharashtra come to Pune for treatment. Here they can reach conveniently and also it is not as heavy on their pockets as compared to a city like Mumbai. The advanced medical facilities with reasonable expenses are making Pune a favorable destination for medical tourism for domestic as well as international patients who come here to get cured. Pune’s climatic conditions also favor good health for recovering patients. Property buyers and investors do prefer a location for their property to be nearby from basic necessity and health centre is definitely one of them.
Pune is witnessing a transformation from a peaceful small city to very advanced metro city. Many huge townships are coming up to contribute in this transformation. These townships are either having their own fully facilitated hospitals with 24 hour emergency wards or they have tie ups with reputed medical centers for operation in their health care centers. Magarpatta city in Pune has Nobel hospital to provide health care services to its residents. It is a multi specialty hospital. Another big township Amanora also has a hospital called Amanora hospital with advanced state of the art equipments but they have tie ups with Ruby Hall for managing their facility. Within one or two years it will be fully fledged hospital. Likewise all other upcoming townships are coming with their private advanced medical centers to take care the needs of their residents.
It is not a big problem in Pune to reach from one corner to other unlike any other metro city thus reaching to any medical centre is rather easy and practical for advanced treatment. The advancement in medical facilities in Pune city does make it a hot destination for real estate buyers as well as investors. Thus we can say that health sector is an indirect real estate market driver in Pune city.
Ruchi Mahajan