Pune today is among the fastest-growing cities for real-estate opportunities in India. It today ranks 6th in terms of its income per capita in the country. Pune thrives as one of the major IT hubs of the nation. It is home to several manufacturing units, Pharma companies and other allied industries alike. This however wasn’t the case earlier. Although Pune has been a city centre since mediaeval times, its rise as a commercial centre of large scale has been fairly recent.
The growth of Pune and its peripheries as a commercial hub began after the automobile sector set up its industries here. With this, many labour and working professionals made this city their home. This brought in a lot of real-estate development to Pune.
Infrastructure and connectivity made seamless to neighbouring cities with the Pune – Mumbai Super Expressway, coupled with land affordability has made the city a significant choice for other industry players. Therefore, IT companies and ITeS- big and small have now set up their base here. According to recent reports, about 2 million square feet of leasing activity has taken place in the commercial sector here in the last few months alone. With global giants like Google also announcing their arrival in Pune, the future seems quite promising here.
And it’s not just Pune that has witnessed this growth. It is predominantly seen in the Pimpri-Chinchwad area, which, as per reports, has a stock of about 20 lakh square feet of commercial properties and a demand of close to 40 lakh. A number of promising start-ups, Business Processing Managements (BPMs), IT and ITeS, hospitality and tourism ventures and educational institutions are also adding up to the continuous growth of PCMC. With the current developmental pattern and growth of the region, the suburb of Pimpri-Chinchwad stands out as one of the top locations for active commercial property investment in Pune.
The secondary business districts (SBD) of Hinjawadi and Baner and the micro markets in the area have seen hectic activity and buzz, as far as the commercial property markets in Pune are concerned. Of the varied businesses and industries here, the major occupiers were the manufacturing and industrial sectors of automobiles, pharma and IT, ITeS and other commercial industries. The presence of several industrial areas in and around Pimpri, Chinchwad, Talegaon, Chakan, Markal, Alandi, and Pirangut, has also fostered the growth with the need for allied suppliers, and subsequently, for commercial spaces on rent here.
With commercial real estate on a rise in Pune, this season is the best time to invest in a commercial space of your choice. Despite the size and type of commercial property you own, the current market allows you the opportunity to successfully rent your space as a shop, office, outlet, showroom, or micro-manufacturing unit. Pyramid Axis A-grade commercial spaces by Pyramid Lifestyle at Wakad are the ideal destination to make this come true. Their location and connectivity to areas around allow for potential growth for your investment and fulfilling returns. Visit https://www.pyramidlifestyle.com/ to know more about Pyramid Lifestyle and its commercial spaces.