Published On: Fri, Feb 6th, 2015

Demand Assessment : Pune

punemapBy Accommodation Times Research

Pune: Today, the city is considered the hottest real estate destination for the Western India market. IT and Automobile industry could be the main reason for it but location of the city is added more interest in developers’ mind. The city has a considerable proximity to Mumbai and other wealthy districts like Nashik, Solapur, Sangli, Satara and Kolhapur. As an education hub, an IT hub and an automobile hub, the city has pushed up the real estate demand. The city has seen an unpredicted progress in last some years in the every segment of real estate. Over the last 2-3 years the Pune residential and commercial markets have a seen huge appreciation in terms of its capital values.

Since, Pune has been established as an academic city, thousand of students from all part of the country are traveling for their education, which has encouraged many people to invest in the residential properties which in turn are being rented out to these students.

The high-end residential and commercial projects are being constructed at KoregaonPark, Hadapsar, Kaylani Nagar, Bund Garden Road, and Shivaji Nagar. And residential activity has been continuously flowing in the areas like Aundh, Kondhwa, Wanowrie, and Nagar Road, which are on the periphery of the city but now these places are being submerged in the city and enjoying quality and modern housing. This impact has been fanned out over the near by areas like Wakad, Bhugaon, and Balewadi and other surrounding areas. IT is adding fuel in residential property demand.

Office space is another emerging hot topic in the city. Many corporate offices are either shifting or setting up to Pune from Mumbai.  Now, locations like Hinjewadi, Wakad Road, Hadapsar Road, Kharadi and Solapur Road are the options for office spaces and mostly space is reserved for IT.

Originally commercial space in the city was in the central business districts (CBD) at Camp, Bund Garden Road and Dhole Patil Road as well as off-CBD areas like Deccan Gymkhana, Senapati Bapat Road and Wakdewadi. According to an estimate by Trammell Crow Meghraj, there is about 20 million sq ft of office space is being developed across the city. Some of the bigger national developers – DLF, Unitech, Reliance and K Raheja are showing keen interest in Pune.

Few years back, Pimpri-Chinchwad and the areas in vicinity constituted industrial hub of Pune. Its makeover is being helped by the development of bigger industrial location at Talegon-Chakan, further up the road towards Mumbai, where large manufacturing units have already come up or are under the development phase.

The area of Pimpri-Chinchwad no longer enjoys the same rapport of being a blue collar township. The process of Pune makeover is apparently visible along the NH-4, between Pimpri and Chinchwad. Some companies have frontages on the highway and looking forward to the prospects of re-developing their land solely or in partnership with others.

 

 

USP Residential Place Commercial Space Infrastructure Future
1) Hot IT and Automobile hub. Kalyani Nagar, KoregaonPark, Magarpatta are the high-end residential spots. Deccan Gymkhana, Camp, Bund Garden Road Senapati Bapat Road have almost been filled up by commercial activities. Infrastructure could be the biggest barrier for city’s development.

 

The city has a great future in real estate but need to emphasis on basic infrastructure development.
Pune is an Oxford of East. Many reputed government and private education institutes are located in the city. Students from all parts of the country preferred Pune for their higher education. Baner, Wakad and Balewadi are near to Hinjewadi IT Park and have easy accessibility to Mumbai. These areas are mostly comprised with IT employees and students. Around 20 million sq ft office space is being developed. Traffic congestion is a daily tedious task for Punekars.

 

A sufficient infrastructure the gist any city’s development. Most of the national developers have started their residential and commercial projects in the city.
3) Proximity to Mumbai & other wealthy districts by road, rail and air. Karvenagar, Aundh, Hadapsar are outside sites of the city and most referred by middle-class and students. Hinjewadi and Wakad Road, Hadapsar Road, Kharadi and Solapur Road would be the next option for office space. Worst road condition, inadequate numbers of railways and flight are major problems. The state government has geared up to meet city’s basic needs.  Due to cosmopolitan culture, national and international developers are busy to provide high-standard residential and commercial properties in the every part of the city.
The city accepts cosmopolitan culture. Pimpri- Chinchwad is convincible option for low-budget home buyers.      
The city is well known for its culture, tradition and safety.        

 

Glance at Pune

Average Climate :   8°C TO 41°C.

Languages :    Marathi ( Main ) Hindi & English

Geographical Location :   Foothills of SahyadriMountains.

Borders :

North-east Ahmednagar, West Colaba, North-west Thane, South-east Solapur, South Satara.

Population :      4,485,000 (2005).

Area :      138 Sq Km.

Literacy:     71 % Population Literate.

Rivers :      MainRiver Bhima

Sub – Rivers :     Nira , Indrayani, Mula, Mutha, Vel, Ghod, Meena Kukdi, Pushpavati, Pavna

 

 

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  1. ashok mirchandani says:

    I want to invest in Talegaon,near Pune. I believe a lot of industries are found in a place called Chakan.

    Could you inform me the prospects of my investment in Talegaon giving reasons for my thinking.

    Regards

    Ashok Mirchandani

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