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Why Demand of Commercial Office Spaces Rises in Pune

by Jitender S. Smartworks - Where Office Space Requirements Are F

Pune is one of the cities in India that is expanding the quickest, thus starting a business there means stepping into Indian soil. Pune offers business prospects in practically every field, from conventional manufacturing to technology.


Pune, often known as the "Cultural Capital of Maharashtra," is a prominent educational hub in the nation. It's referred to as the "Queen of Deccan." It is therefore clear that Pune has the capacity to maintain its status as a preferred investment hub in the corporate real estate market in India. 


Pune is one of the cities with the fastest-growing real estate markets. But before, this was not the case. The growth narrative of Pune began once the car industry established its industries. Following this, a large influx of labourers and employed people joined the city. One of the needs that attracted many real estate developers to Pune was housing and hospitality. Commercial office spaces in pune are high in demand due to certain factors, that are contribution to the growth of the city.  

 

Advantages of Buying Commercial office space in Pune 


Growing IT/ITES sector 

Over the years, Pune has grown to be one of the largest centres for start-up businesses, many of which want office space in a successful commercial area. Pune is one of the top cities in India with respect to both supply and demand for commercial real estate. Pune has been one of the leading destinations for commercial real estate investments in recent years. In Pune, several areas are evolving and expanding as commercial and industrial centres. Numerous business houses, prestigious organisations, and IT firms have expressed interest in setting up small and big office spaces in the city due to its strategic position and the abundance of options it offers. 


Extensive Talent Pool 
Many prestigious managerial, medical, and engineering schools are located in Pune. One of the main reasons corporations like to base their operations in this city is the availability of a highly skilled skill pool. The city has evolved recently, notably during the past two decades, into a large talent pool with professionals having a variety of skill sets. Shared office spaces in pune are providing enterprises with the opportunity to create workspaces, that can help them retain and attract talent. 


Future Infra Developments 
The city has a lot of milestones still to reach, which is clear from the recent acceleration of its infrastructure development. Long-term real estate appreciation is accelerated by initiatives like building IT hubs, road expansion, and metro tracks. Pune is the country's first attempt at a vague smart city project. It is a significant rail hub, a centre for the military, and it is easily accessible from key Indian economic hubs including the Mumbai area, Bangalore, Chennai, and the West Coast. 


In numerous Tier I cities, like Bangalore, Hyderabad, and Delhi-NCR, where such external companies are present and working for sizable commercial complexes, the effects are clear. However, this has yet to be seen in tier II and tier III towns. Given Pune's extensive commercial bandwidth, several Grade A developers are anticipated to follow this pattern.  

 


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About Jitender S. Freshman   Smartworks - Where Office Space Requirements Are F

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Joined APSense since, September 21st, 2022, From Noida, India.

Created on Nov 7th 2022 23:33. Viewed 268 times.

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