Friday, 20 March 2015

The Thriving Commercial Real Estate Market of Pune

The Thriving Commercial Real Estate Market of Pune
Surely, residential real estate markets of Pune is definitely going great guns, the demand for office space has been upbeat like never before. The city of Peshwas, has seen significant growth in the prices of commercial properties. The absorption of office space in Pune clocked in at 4.5 million sq. ft., similar to the preceding years. Presently, the city has 20% of vacant Grade A office stock available for absorption. In terms of the growth of the office space sector, Pune emerges as the leader with almost 30% followed by Bangalore (26%) and Hyderabad (15%).

The sun shines brightest in the western part of Pune, primarily because of the Rajiv Gandhi Infotech Park in Hinjewadi. Also, parts of Aundh, Baner and Kothrud are the major contributor to the city's commercial real estate market. Eastern Pune is not really far behind, in terms of leasing, the micro markets of Yerwada, Hadapsar, Kharadi, Kalyani Nagar, Viman Nagar and Nagar Road are emerging as leaders. Also, with Kharadi coming up as major IT destination, prices of properties in these areas are soon going to witness steady escalation.

Although, currently the lion share of demand for commercial space comes from the IT/ITeS and the banking sector. Soon, with all the major real estate players coming up with non-IT projects in the city, the sector is surely going to see a major boost. Pune is soon going to become of the leading metropolitan cities in the country, mainly owing to the industrialization and the good social infrastructure and rail, road and air connectivity to all the parts of the country. All this indicates that the availability of non-IT and IT commercial space in Pune is bound to rise.

Commercial shops and offices in Kothrud, Pune are surely a good for end usage, they are also great investments. But, when looking to buy them, go for a trustworthy name; a name like Atul Enterprises. Atul Enterprises has been synonymous with quality and customer service since 1981. Currently, they are offering Vrundavan, one of the most exquisite commercial projects in Pune. With the acute location advantage and all the necessary amenities, this is the project that is definitely worth investing in.

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