Pune, located in
the western state of Maharashtra, India, is a rapidly growing city that has
seen a surge in commercial real estate investment in recent years. With a
population of over 6 million, Pune is the second-largest city in Maharashtra
and is known for its thriving economy, quality education, and growing IT
sector.
In this blog, Mr. Anurag
Goel Ganga Pune, Director, Goel Ganga Developments shared why Pune is
becoming the new destination for commercial real estate investment.
1. Booming
IT Sector Pune has emerged as a major IT hub in recent years, with numerous
multinational corporations setting up their operations in the city. The
presence of companies like IBM, Infosys, Wipro, Cognizant, and Tata Consultancy
Services has led to the creation of a large number of job opportunities in the
city, which has in turn fuelled the demand for commercial real estate. Pune is
now considered as a major destination for IT, IT-enabled services, and research
and development companies.
2. Favorable
Government Policies: The Government of Maharashtra has taken several
initiatives to promote the growth of the commercial real estate sector in Pune.
The Maharashtra Industrial Development Corporation (MIDC) has developed several
industrial parks and special economic zones (SEZs) in the city, which has led
to an increase in the availability of commercial properties. The state
government has also announced a number of incentives for developers who invest
in the real estate sector, such as subsidies and tax holidays.
3. Strategic
Location Pune is strategically located between Mumbai and Bangalore, two major
cities that are home to some of India's largest corporations. The city is well
connected to these cities through a network of highways, railways, and airways,
which makes it an attractive destination for businesses looking to expand their
operations in the region. Pune also has a well-developed infrastructure,
including world-class educational institutions, hospitals, and entertainment
facilities, which has made it a preferred location for young professionals and
families.
4. “Growing
Demand for Office Space As the economy of Pune continues to grow, there has
been a growing demand for office space in the city. The availability of skilled
labor, favorable business climate, and growing number of start-ups have
contributed to the increasing demand for office space. This has led to the
development of several commercial projects in the city, including SEZs, office
parks, and IT parks.” – Said Mr. Anurag
Goel Ganga Pune.
5. Growing
Retail Industry Apart from the IT sector, Pune also has a thriving retail
industry, which has contributed to the growth of commercial real estate in the
city. With the emergence of several shopping malls, multiplexes, and
hypermarkets, Pune has become a preferred destination for retailers and investors
alike. The city has witnessed a growing demand for commercial properties that
can be used for retail, entertainment, and leisure activities.
6. High
Return on Investment Investing in commercial real estate in Pune can offer
investors high returns on their investments. The growing demand for office
space, retail properties, and the favorable business climate has resulted in an
increase in the value of commercial properties in the city. Investors can
expect to earn good rental income and capital appreciation on their investments
in Pune's commercial real estate sector.
In conclusion, Pune
is emerging as a major destination for commercial real estate investment in
India. The city's growing IT sector, favorable government policies, strategic
location, growing demand for office space and retail industry, and high returns
on investment are some of the factors that have contributed to the growth of
the commercial real estate sector in the city. With its vibrant economy,
world-class infrastructure, and favorable business climate, Pune is set to
become one of the most attractive destinations for commercial real estate
investment in the country.
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