If you're a property hunter in Pune, then you must have been listed properties with various amenities. Isn't it?
Well, that's right! Every real estate buyer in Pune seeks the best available amenities in the project before making an investment. Whether you're a developer, a broker, a salesperson, or just an ordinary investor and want to know why amenities are important in Pune's property market, then this blog is for you!
Today, we'll take a look at the most demanded amenities in Pune's regional real estate market that almost every developer incorporates in the project. We will also learn how these amenities impact a real estate investor's investment decision.
Read this blog to understand why amenities are important in a residential or commercial property in Pune for sale:
What is Meant By Amenities?
Amenities are the useful or desirable perks in a space or building. They are incorporated by the builders as a benefit to the buyer. Amenities aim to bring comfort and convenience to the buyer's lifestyle.
Most real estate projects in Pune, particularly housing projects, have shared amenities, which means that they are shared by the occupants of the buildings. Such amenities include surveillance cameras, lifts, guards, swimming pools, party halls, recreational venues, etc.
The amenities are specially incorporated in the project to enhance its overall value and the living style of the residents. It also adds to the rental revenue and the direct valuation of the projects.
Most Demanded Amenities in Pune
Pune, the second largest city of Maharashtra after Mumbai, is brimming with most-demand real estate projects. But why? Because of the world-class amenities provided in these projects with more amenities and is affordable too.
Hence, several top localities in Pune have basic and luxury amenities. Providing those amenities elevates the project value, and as a result, the lifestyle of the buyers improves too.
Why are Amenities Important?
So you have got an idea of what is meant by amenities. Now, let's see why amenities are important in a real estate project.
Lifestyle Improvement
Pune is noticing an increase in demand for luxury housing real estate. It is emerging as a smart city with top-tier infrastructure, amazing connectivity, and an advanced economy. The city ensures a lifestyle of luxury with a brilliant selection of top-notch amenities.
It is to be noted that people will pay more if the amenities are worth the catch. Remember, they want value for their investment, and they will trust a property with the best amenities. Simply put, the amenities must improve the lifestyle of the residents.
Attract Buyers & Tenants
As we have already learned, amenities play a crucial role from the perspective of the buyer. However, from the perspective of the seller or the developer, their primary aim is to attract buyers and tenants. While many tier 1 cities have relatively small apartments, pairing them with extra amenities brings the attention of more buyers.
In the city of Pune, where amenities like gyms, party halls, and swimming pools are not so common, providing such amenities grabs their attention, which is a major selling point. Tenants also don't mind paying more for rent if they are served with such amenities.
Buyer Satisfaction
Amenities are provided to satisfy the buyer's purchasing choice. When a buyer is satisfied with the development, it is more likely they would recommend this project to other potential buyers, too.
Buyers usually consider the amenities after the carpet area and the property layout. Buyer satisfaction is important to decide the project's success as it acts as an important marketing tool as well.
Value Addition
Amenities increase the overall value of the project. Adding more amenities will thrust the project price to an all-time high. But doing right, i.e., providing the project with a good combination of amenities, is important. However, unnecessary amenities that are of little to no use would not be a great idea from a profit-making perspective.
A number of luxurious 3 BHK flats in Pune are adorned with the best-ever amenities, adding more value to the residential property. Top developers in the region have witnessed a remarkable trend.
Value Appreciation
Lastly, we have value appreciation of the property. Please don't confuse value appreciation with value addition. Value addition refers to the addition of value to the property by introducing proper amenities, while value appreciation refers to the gradual increase in its face value as the project becomes more popular and in demand.
Note that while amenities are not the only factor that influences the overall property demand, they are an important part of a project. Amenities appreciate a project's value as they directly influence the lifestyle of the occupants.
Advantage To The Developer
As a result of the value appreciation of the property, numerous developers in Pune are upping their game. They know the importance of attractive amenities and what value they provide to the project. If they don't keep themselves up with the new trends, they will lose competition from the other developers in the area.
Top projects such as VTP Flamante, Lodha Panache, VJ Portia Grande, Kunal The Canary Pune, Kohinoor Shangrila, etc., are making headlines in the regional residential real estate arena. These projects offer a wide range of high-end amenities like sports courts, swimming pools, recreational areas, banquet halls, and what not!
Conclusion
Amenities influence a customer's decision and play an important role in marketing. Quality amenities enhance the living standard of the occupant and, thus, the quality of the real estate as a whole. Adding amenities attracts buyers and helps a builder establish their brand in the market.
Commercial and residential properties in Pune top the list when it comes to buying a home in a booming Tier 1 city. You can look out for the best real estate projects in the region with world-class amenities.
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