The role of startups in the real estate market of Pune

Pune is one of the most preferred cities among the start-up concerns. As a result, the real estate market of the city is benefitted. The massive spout of the start-up launches in the country has triggered the investment scenario. Startups are generating more jobs and pushing investments into the country.

Over the last three years, India has seen a prominence in the start-up market. Bangalore is one of the predominant markets of the startups. This is slowly changing as Pune is competing Bangalore. Pune has a large number of startups and most of them are from the IT and ITeS sector. The city is becoming a hub for the Information Technology industry. E-commerce is another emerging and rapidly growing industry. They are particularly vibrant in the Pune city.

A report shows that Pune alone has about 330 start-up companies in different stages of growth. Startups in the city are expected to make a strong impact on the real estate market. Commercial and the retail markets are the major beneficiaries of this industry. The growth of startups will contribute to the creation of job opportunities. This will impact the demand for the commercial properties. For providing a better lifestyle for the professionals, the retail market will emerge. All these factors will draw many people to live and settle down here. This will trigger the demand for the residential properties.

In India, around 2-3% of the total office space absorption is contributed by the E-commerce companies. The growth rate of this industry shows that the absorption rate of these companies will increase significantly in a mid-long term.

The real estate market of Pune is attractive and the city is considered as one of the top investment destinations in the country. The city is known for the presence of IT/ITeS and manufacturing companies. With the start-up trend, the city is attracting investors from various parts of the country and beyond the borders.

The real estate market is stable and is steadily growing. With the smart city initiative, the city is seeing different infrastructure developments. Any development in the infrastructure subsidizes to the real estate growth of the area. The startup culture is impacting the commercial clusters of the city.

Micro markets such as Dhanori and Charoli are seeing increased demand for the residential properties. Most of the demand is driven by the people employed in the areas around Nagar road. Localities such as Hinjewadi and Kharadi are performing well in the residential market. The growth in the IT/ITeS sector is pushing the demand for the residential properties. The city is seeing multi-faced developments.

If you are looking for investment, then look for the micro markets located along the IT cluster. The city is expected to see a spill-over effect and most of the localities are expected to see rapid growth. Some of the most preferred localities in the city are Pimple Nilakh, Wakad and Pimpri.

The government is taking various measures to transform the city into a smart city. As part of the smart city project, Pune Municipal Corporation (PMC) has selected Aundh-Baner-Balewadi (ABB) areas for development. This will draw huge investment in the area and these areas will see rapid growth and developments.

Author's Bio:

Reshma is a retired service Women who loves to impart his knowledge through sites like Indiaproperty.com

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