Pune
has more hospitals, clinics and healthcare facilities per square
kilometer than most other cities in Maharashtra. A cursory study of
pricing trends indicates that residential properties which are near to
good secondary schools appreciate better than others.
By Kishor Pate
The
Oxford of the East title is commonly used in context with Pune because
of the number of reputed schools, colleges and management institutions
in the city.Apart from the real
estate spaces required for the many educational institutions seeking to
make an entry or to expand in Pune, this fact has also served to drive
demand for residential real estate.
Many
families prefer living in Pune because of the variety of schools and
colleges available within easily commutable distances. Reputable
developers make it a point to source plots in areas that have ready
access to these institutes by private and public transport. Large
schools too have responded by ensuring that their own school bus
services reach all parts of the city.
In
fact, access to schools and colleges is an important criterion for
families who are looking for homes in Pune. For that reason, property
prices also tend to be higher in locations which are close to
established educational institutions.Nevertheless,
the marginal premium that home buyers pay for this convenience is still
far lower than it is in cities like Mumbai, Bangalore and Delhi. Nor
does proximity to schools and colleges necessarily carry the same market
clout in all cities.
In a
city like Mumbai, home buyers are primarily concerned with buying flats
that allow them to travel to and from work. In smaller cities like Pune,
reaching work is not as serious a challenge.
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