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Realty Contours of Pune, the Tech City
The city of Pune has certainly covered a long journey from being known as pensioners’ paradise to the Tech city. These days, investors and builders seem to be making large money from Pune real estate market. This has given a strong push to wealth and development in the city. The activities have indeed put Pune on global business map in a dramatic way. It offers a plethora of opportunities in the field of retail, IT industry, BPO industry, and the hotel industry.
Everyone belonging to Pune property market is cashing in on the prospects that the city of gold offers. High and retail market space is the most preferred sector in the market. Pune education sector is also making rapid strides and has witnessed a huge influx of students coming in all across the world. This is contributing to the success of Pune and assisting it to come up as a global education destination.
The IT sector in Pune is encouraging the young generation to come forward and contribute to the economy’s progress. The city shares a big chunk of the $350 billion Indian retail market which is likely to grow at a rate of 13% per annum.
Pune Economy
Pune corporate sector is also taking full advantage of the city’s retail boom and making hay while the sun shines. Ongoing activities in Pune real estate clearly underline great improvements in the infrastructure, economy, and policies of Pune.
Pune properties are marking the growth along with prospects, excellent connectivity and educational facilities. Whether talk of industries or education sector, both are nurturing and shaping up in a decent manner.
Optimum Growth Expected
Pune is expected to see a sharp appreciation of around 500% in the service and industrial sectors. The actual potential lies in Pune residential property, shopping malls, education, and the hotel industry. These segments are undoubtedly fast flourishing. As a centre of education, Pune produces around 1,50,000 graduates each year, thereby adding to the manpower and fuelling the mentioned growth rate.
Pune has become a cosmopolitan city that is largely attracting the likes of all. The city’s infrastructure is developing at a surprising rate and constructive changes have taken place in the last 5 years.
The city has exclusive real estate projects in its pipeline. There is a project ‘Business Bay’ which will be an exclusive residential-cum-commercial project. It will accommodate high end retail outlets, corporate offices, and the residential units.
The construction work of the International Convention Centre (ICC) is on peak. Its third phase is also going to be over. Then, there is a real estate project by Kolte Patil Developers Limited, a prominent name in the commercial and residential development. The company is planning to take Pune residential segment on high by developing properties such as integrated townships, service apartments, and high end residential projects.
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