Real Estate in Post Pandemic Pune
Pune’s advantage of a talent pool, IT sector and industry, with improving connectivity and ease of living is set to propel it to the next level of economic growth.
Pune, the ‘cultural capital’ of Maharashtra, is located about 75 miles from India’s financial capital, Mumbai. Once known as the ‘pensioner’s paradise’, the city has transformed itself into a bustling economic centre. Traditionally an industrial hub, Pune has been steadily transforming into an economic centre over the years. ‘The Oxford of the East’ creates and nurtures a large and diversified talent pool. It is blessed with the unusual semblance of a youthful workforce, pleasant weather, a cosmopolitan culture and the coexistence of manufacturing & services sectors. Guarded by the Southern Command with nearly 30% of the city’s area under the jurisdiction of the Defence, it also tops the safety attribute. Pune’s proximity to the financial capital of the country, Mumbai, has been yet another advantage.
These factors have attracted major national and multinational companies to set-up their bases in Pune. Furthermore, the city’s large youth population with a high disposable income and a high propensity for consumption spending has created immense potential for the retail real estate sector. The strong industrial and organised retail sectors have, in turn, led to the growth of the warehousing and logistics segment. Thus, the city has consistently offered a potent combination that has been hard to resist for citizens and industries alike.
Pune has completed its transformation into an economy driven by the services sector with a strong industrial base. It has grown exponentially, marking its permanent presence on India’s real estate landscape. Importantly, the city has a diverse real estate palette to offer to various stakeholders, including developers, investors and end-users. These robust cornerstones have laid the path for sustainable real estate development in the city in the coming years as well. The groundwork has been laid for Pune to emerge as ‘a destination of the future’ and the following stand testimony to this.
- Pune ranked as the ‘second easiest city to live in’ as per The Ease of Living Index 2020
- Pune ranked the highest (alongside Hyderabad) amongst all Indian cities in Mercer's 21st annual Quality of Living Rankings released in 2019
- Pune ranked 3rd out of 50 cities in terms of business competitiveness in the City Competitiveness Report 2017.
- Pune at the top among 23 Indian cities as per the Annual Survey of India’s City Systems (ASICS) 2017, which measures the quality of governance in cities.
- Pune emerged as the best-performing city in terms of Green Spaces and Buildings which measures the availability of green spaces and presence of green buildings
Pune’s advantage of talent, technology, industry and connectivity will propel it towards becoming the next mega city of India. As the real estate sector grows in tandem and quality assets are developed continuously, the city is expected to provide huge opportunities for investors across the globe.