Pune is surely a very good choice, either in terms of putting up a business, or an investment in commercial properties. Even as new commercial projects in Pune are developing an investor’s, the credit must be rightly given to Pune’s great infrastructure that has made way for immense investment in the residential and corporate estate division. In this blog, we are going to discuss how the infrastructural development of Pune is helping in the increasing in demand for commercial property in Pune. Also, we will get you introduced to a commercial property in Mundhwa, KBT.
An Overview Of The Various Development Indicators Of Pune
Strengthening The Road Network
Pune is strategically located within an easy distance of the major cities, breathing one of its greatest advantages. Plenty of road and highway networks coupled with the Pune-Bengaluru National Highway and the Mumbai-Pune Expressway have contributed positively in improving business connectivity.
A Groundbreaking Initiative: Pune Metro
In addition, the Pune Metro will be another factor that will trigger the demand for commercial spaces in Pune, once completely functional. When fully functional, the metro will be a great reliever of commuting problems, facilitate traffic decongestion and increase mobility across important commercial areas.
The metro will aid in connecting different business regions like Koregaon Park, Hinjewadi, Kharadi, Pimpri-Chinchwad making these areas more appealing for the businesses.
Development of IT Parks and SEZs
Pune’s evolution from a city still in its formative stage into an IT and technology-oriented town is chiefly because of the modern IT parks and Special Economic Zones (SEZs). Mundhwa, hinjewadi, Kharadi, Magarpatta are famous now for young office buildings and IT related facilities that draw several multinational companies and start ups as well.
Expansion of the Industrial and Manufacturing Sector
Pune industrial and manufacturing industries melting pot have been a vital factor for the commercial real estate growth. Having become industrial centers of Pimpri-Chinchwad and Chakan, the city started attracting large manufacturing plants in the automotive, engineering, and electronics industries and also several others. These industries are not only promoting economic development, but they are also generating the need for additional commercial office, warehouse and industrial park space.
Increase In Demand for Isolated Business Workstations
A shift in business models has resulted in a large surge in demand for more sophisticated workplace requirements in Pune. The recent trend towards working partially from headquarters and partially from homes has also resulted in an increase in the demand for such units. Mundhwa, Baner, Balewadi, and Viman Nagar, among other areas, have rapidly emerged as business hubs as companies are looking for high-quality office spaces with advanced amenities as well as residential areas.
Government Initiatives and Policies
The policies of the government of Maharashtra have strongly complemented the expansion of commercial real estate in Pune. Policies like reducing the cost of doing business, executing infrastructure development schemes, and encouraging industries to set up in Pune have attracted commercial investment in the district.
Moreover, the city has gained from initiatives supporting smart city schemes, which also improve the urban framework and develop conditions favorable for businesses.
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