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Best Locations in Pune to Buy Commercial Property
The‘Queen of Deccan’
-Pune is located at the western margins of the Deccan Plateau, quite near to Mumbai. Pune has a very pleasant climate and a well developed urban area that spans about 700 sq Km. Of late, Pune has emerged as a big center for IT & automobile companies and numerous prestigious educational institutions and it still is growing. The residential real estate segment is on the rise in Pune and so is the commercial segment. If you are planning to go for commercial properties in Pune, following locations are worth giving a thought. These are well connected, possess proper amenities and are cost-effective:
Viman Nagar- Its one of the first systematically planned and executed locality of Pune. The international airport is half kilometers from here and it is located at a distance of 6 kilometers from the Pune Main Railway Station. There are two large IT parks in the area viz. Giga Space and Weikfield IT City. One of the biggest malls in Pune, Phoenix City and Inorbit mall are to be developed at Viman Nagar. Ruby Clinic and Jahangir Hospital are a few good hospitals located near Viman Nagar.
Kharadi- Located in the eastern part of the city, the area is up coming and is undergoing development. However, it’s located slightly on the outer side, but the place is well connected. The place has experienced a revamp of infrastructures by the PMC. The locality is easily accessible and proximity to the airport, Koregaon Park, Kalyani Nagar, Viman Nagar, Ranjangaon makes it a preferred real estate location.
Kalyani Nagar- Situated at a distance of 5 km from Railway Station and the central business district and 3.5 km from the Airport, the locality is within easy reach. Many big commercial projects that include Malls, IT parks etc have been developed and are under development in the area. Big companies like HSBC and Cybage have their offices in the locality. Vithalrao Vandekar Road, Central Avenue and Nagar Road are the 3 main roads in the locality. The place is situated at a distance of 4 Km from the airport and about 5-6 Km from the railway station.
MagarPatta- Situated along the Pune-Solapur Highway, the locality spans over a whopping 700 acres and is the first of its kind in India to have received an ISO:9001 certification for an eco friendly construction. The locality houses some of the few leading IT giants that include Amdocs, Accenture, Patni, Sybase, Avaya, SoftDEL Systems and EDS. The Mega Center and The Destination Center are the two major commercial projects in the area. Vicinity to Kharadi IT Park, EON IT Park, and the Hadapsar Industrial Estate also makes it a good choice for commercial property.
Hinjewadi- Hinjewadi lies in the western part of the city and is the home to the biggest IT Park in Pune Rajiv Gandhi Infotech Park. Some of the companies at the Technology Park are: IBM India, Idea Cellular, KPIT Cummins, Tata Technologies, Infosys, Wipro, Tata Consultancy Services, Geometric Technologies, Inc., Tech Mahindra, Cognizant Technology Solutions, Mindtree and Synechron. It is easily commutable to Mumbai as the Mumbai-Pune highway almost passes through the locality. Satara Road-The Swargate bus depot is connected to the Katraj Ghat via this road, a pass through the mountains. On further extension, the road leads to Satara town. There are a few famous engineering colleges here that include Bharati Vidyapeeth and Pune Vidhyarthi Griha’s Engineering College.
Baner Road- Baner road runs from University circle on the east to the Dehu-Katraj bypass (NH 4) on the west.
Senapati Bapat Road- Starting at the BMCC (Brihan Maharashtra College of Commerce) Road, the road terminates off off Pune University Circle on the Ganesh Khind road. Kirloskar International Convention Center (ICC) is located on this very road itself. The ICC has many famous companies’ office like CTS, HCL, and Siemens etc. Symbiosis Institute of Business Management (SIBM) lies en route. The road houses a lot of IT/ITES companies such as Sungard, BMC Software, Persistent Systems and T-Systems.
Commercial Property Rates in the above areas are:Area Property Type Avg price/Sqft Avg Rent/SqftBaner Road Land 2012 – Office 5310 44 Retail 12014 60Hinjewadi Land 1490 – Office 11445 50 Retail 4800 36Kalyani Nagar Land 7407 – Office 10413 60 Retail 11231 103Kharadi Land 2383 – Office 4567 36 Retail 6345 55Magarpatta Office 5085 41 Retail 8312 40Satara Road Office 5203 40 Retail 9704 76Senapati Bapat Rd Office 7765 60 Retail 11039 97Viman Nagar Land 3824 – Office 6087 50 Retail 11433 64
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Townships: The Final Answer To Pune’s Housing Issues
Townships are more than a new real estate mantra – for some cities in India, they are literally the last hope for decent living. With the gradual worsening of residential conditions in Pune, township properties are gaining increasing significance as the final answer to qualitative living and social integration.
Pune is plagued by compromised and insufficient infrastructure, increased air, water and noise pollution and remarkably unorganized construction – which naturally compounds the problems on all levels. The city’s inhabitants are facing major problems with reaching emergency services and educational institutions for their children, access to adequate parking, pothole-raddled roads, etc.
This is a depressing scenario, but there is hope for cities like Pune. Township properties have already been found as the most suitable residential solution by the Government’s National Housing and Habitat Policy of 1998.
This policy has included townships in its ‘Housing Revolution’ initiative; the Government of Maharashtra is now encouraging the development of such townships to reduce the pressure on urban areas and to improve infrastructure in cities like Pune.
The lifestyle mindset of Pune’s citizens is now increasingly geared to more systematic and enabled residential formats. It is almost axiomatic that the city’s deteriorating living conditions have brought forth a Pune Township Revolution.
Since such projects require large land parcels, the focus is now on areas such Pradhikaran – the showcase location of the Pimpri Chinchwad New Township Development Authority (PCNTDA).
In the township projects, the issues faced by Pune’s citizens in terms of infrastructure deficit and generalized deterioration of living conditions are now being effectively addressed. These township properties offer a higher grade of living conditions, better infrastructure and aesthetic environments.
Comparable facilities in smaller residential projects would involve prohibitive costs to developers, which would naturally be passed on to the consumer. However, thanks to the economies of scale, developers can make these advantages available at far more rational costs in a township property.
In other words, quality infrastructure, open spaces, availability of all necessities of daily living and therefore a superior lifestyle can be supplied cost-effectively on a larger scale, since all residents in a township benefit from one large system.
If such facilities were to be made available in smaller housing projects, the costs to consumers would be comparable to those of luxury homes. This results in a somewhat higher cost of township properties as compared to some other properties for sale in Pune.
However, the additional expense is vindicated by the fact that those who buy into township properties are assured of a vastly superior living standard – not to mention exceptionally higher returns on investment.
For those buying property in Pune without wanting to compromise on a better lifestyle equation, township properties are the most obvious solution. There are direct advantages in terms of security, convenience, the comfort afforded by superior infrastructure, accessibility to shopping centres and banking educational and health-related facilities.
Since townships have their own quality retail outlets and recreational facilities, residents are assured of a high degree of comfort and convenience, leading to a better quality of lifestyle and cosmopolitan enablement.
The ease of living quotient in well-conceived townships cannot be over-emphasized, and it is appropriate to say that they are the most obvious answer to Pune’s growing housing woes.
Anil Pharande is President of CREDAI PCMC and Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in the PCMC area of Pune, India. Visit Pune Property Blog to learn about the market fundamentals that drive one of Pune’s most dynamically emerging real estate investment destination.