Released on: April 21, 2008, 12:30 am

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: Although, Pune has been the centre of attraction for the past
several years, property markets of the city have especially taken a cue with Indian
economy charting high growth rates, on the fronts of its burgeoning services and
manufacturing sector.

Press Release Body: Although, Pune has been the centre of attraction for the past
several years, property markets of the city have especially taken a cue with Indian
economy charting high growth rates, on the fronts of its burgeoning services and
manufacturing sector.

As per the industry estimates, Pune would need as many as 40,000 residential
properties every year to meet its housing requirements. To tackle the same, the
Maharashtra government has now given approval to private real estate developers for
establishing fully integrated townships in Pune, under the Public Private
Participation (PPP) model.

In view of leveraging this opportunity, Pune-based real estate developer City Group
has come forward with its ambitious residential township project \'Amanora Park
Town\', the first one after the government\'s declaration. Under this flagship
project, the government would be supplying land to the property developer, who in
turn will build up all the infrastructure comprising residential units and
commercial properties. The developer will also be entrusted with the responsibility
of erecting the social infrastructure encompassing healthcare centres, educational
institutions, and entertainment facilities.

Demand for house on rent in Pune is equally driven by employees and students, who
come to pursue their studies at this city complemented by quality educational
institutions. \"The local economy of Pune is developing quite impressively and
thousands of people settle down in the city every year, owing to job opportunities
in the city. This really keeps the demand factor for rental homes in Pune in
rolling,\" said Shad Ali, a city-based property dealer.

Commercial properties at the western corridor of Pune are buzzing with real estate
activities. Near about all the large IT companies of India including Infosys and
Wipro have opened their software development facilities in the area. International
IT and ITes giants are also scouting for commercial property in the area quite
aggressively.

For more details on Pune Properties log on to
http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Web Site: http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Contact Details: george.gonigal@gmail.com