Pune, formerly known as Poona is the cultural capital of Maharashtra.
It is known as Oxford of East. It is a hub for software companies, IT/ITES SEZ,
BPO’s and particularly automobile industry. The city has experienced a massive
growth in real estate market. The demand for commercial spaces in Pune is more
compared to residential Spaces in Pune.
Considering the office space demand, which encompasses IT/ITeS,
automobiles manufacturing, BFSI sectors, Pune accounts for the healthy
commercial real estate absorption in 2013. Commercial office space demand
across India has witnessed a 1618% dip in 2012, commercial spaces demand in
Pune moved upwards by 6%. This clearly shows the demand and interest of people
in commercial spaces in Pune.
The non-IT commercial property assets like office space rentals
class are likely to stabilize after the second quarter of 2013, due to the
influx of fresh stock – especially near Eastern corridor. Stability pertains to
SEZ Hinjewadi, as supply is slated to hit the market in the second half of the
year. On the other hand, commercial office space rentals in STPI projects are
expected to increase because of the limited supply of Grade A office spaces
throughout the city.
Nice one about the facts of commercial spaces Pune!
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