Diversifying Commercial Market Ruling Pune Real Estate
Pune real estate market is rapidly growing following the Indian real estate trend. The real estate activities are happening at extensive rate in commercial sector of the city. Pune commercial real-estate is developing at a breakneck speed. Retail outlets and malls are mushrooming everywhere to meet the rapid retail boom and the increasing purchase power parity of the middle class. With multiplexes and malls and retail outlets being the popular category, the values of commercial properties (and in case of flipping houses) in Pune have shot through the roof. Pune developers are increasingly constructing commercial property to meet specific themes in mind.
For instance road-facing commercial complexes with large open area and floor area to accommodate number of commercial ventures is the latest trend in Pune. These real estate buildings are occupied by automobile showrooms as well as theme restaurants. The CBD areas of the city such as Deccan, MG Road are seeing a transition as old real estate buildings are being sold to the commercial owners and for constructing high-rise commercial projects. Large floor plates make these projects flexible in nature to house different commercial organizations.
Pune commercial real estate values are increasing and the current value at Central Business District is approximately Rs 4,000-6,000 per sq ft. Pune Real Estate Builders have started building residential complexes adjoining commercial building to provide an integrated solution to both residential as well as commercial patrons.
Commercial real estate activities in the city are covering the areas such as Bund Garden Road, Dhole Patil Road, Station Road and RTO and has given way to multiple emerging micro-markets like Kalyani Nagar, Senapati Bapat Road, Mundhwa, Aundh, Baner and Yerwada. Even the peripheral locations such as Hinjewadi and Wakad in the west and Nagar Road, Hadapsar Road, Kharadi and Sholapur Road in the east, offer real estate buildings for new offices and expansion plans, thereby making Pune a diverse growth market.