Pune's
commercial real estate market is progressively pulling in the consideration of
significant office space occupiers. The city is gradually becoming a second
alternative to Mumbai, as a result of its accessible quality space
alternatives, relatively reasonable rental rates, and additionally its
closeness and great integration with India's budgetary capital, Mumbai.
Property
prices in Pune realty market’s major
micro markets saw a decent surge over the year 2014. Despite the slowdown
witnessed across other major cities in India, Pune real estate market stood sturdy
and resilient due to high demand from the IT/ITeS sectors.
Here
are some of the factors that supports the fact that the year 2015 will prove to
be a positive year for the Pune real estate market; especially the office space
market
1.
Addition
of More Office Space
Almost
1.4 million sq ft of evaluated office space was added to Pune's aggregate
business office stock in the quarter part of 2014. The off-CBD micro-market
area of the city saw noteworthy undertaking fulfillments at Bavdhan, Gultekdi
and Baner amid the second quarter of the year; while the CBD micro-markets of
Boat Club Road and Koregaon Park had seen critical supply expansion in Q1 2014.
2.
Opportunity
for IT & Other Industries
