Pune Commercial Real Estate Market on Brink of Phenomenal Growth. Pune is evolving as next big business hub after Mumbai in the Indian of Maharashtra. Tagged as Cultural capital and educational hub, it is growing as metropolitan city. With the construction of new expressways, it has become leisure gateway for people living in neighbouring cities and Mumbai. This specific city is sprawling with IT boom as more and more Information technology and ITES companies are set their businesses here. This has led to increase in demand for office spaces in commercial projects in Pune.
Moreover, relaxation of FDI norms by the Indian government for greater ease of doing business further increases addition and absorption of work spaces in the area. Given diversity of demand for office space in IT, automobile; manufacturing industries and numerous financial services & Insurance sectors significantly boost commercial real estate market in Pune.
The current micro market offers a good mix of retail, commercial and residential projects in the prime locations of the city. Eminent real estate developers Ellora, Goodwill Property, Naiknavare, Shroff Group, Pride Group, Marvel, Suratwala, Panchshil, Kumar Urban, Supreme Universal Etc bring enticing projects for commercial use. The large commercial developments offer high end office spaces and commercial shops in the most sought after locations.
New Commercial Projects in Pune
High rise commercial buildings in Baner, Balewadi, Dhanori, Viman, Moshi, Kharadi, Kalyani Nagar and IT hub Hinjewadi are redefining skyline of the City of Dreams. These outer suburban districts of the city are developing fast with huge investment in infrastructure.
These projects are attracting investors from India and worldwide owing to their strategic locations that have smooth connectivity to and from different parts of the city. Ellora Spine City, Goodwill Square, Naiknavare Town Square, Shroff Speciality Business Centre, Supreme Headquarters are milestone projects in Pune. These commercial buildings are intensely serviced and fully secure with cctv surveillance both inside out to ensure smooth running of businesses.
Future Growth Prospects of Real Estate in Pune
Buyers can find aesthetically designed office and commercial spaces spanning 260 sqft – 43560 sqft areas to cater to their varied business requirements in the city. The price of commercial spaces and shops in Pune are comparatively lower than what is offered in Mumbai Metropolitan Region (MMR) and National Capital Region (NCR). These amazing spaces for office use, warehouses and commercial shops are offered at convenient prices starting from Rs. 24.70 lacs onwards.
As many infrastructure developers and builders see potential real estate growth prospects in the area, they bring huge projects to meet the growing demands for offices, showrooms and retail shopping centres.
The city with educated crowd, large residential developments and progressive infrastructure is driving demand for new commercial projects. From Startup to business, manufacturing to automotive, fashion / Apparel to engineering, IT to BFSI, all of them have made Pune their home. The mutual efforts of the central government and the private organizations to attract & encourage the private investment reap fruits of sustainable economic growth in Pune.
