Pune’s Commercial Real Estate – A Lucrative Avenue for Property Developers
Pune is a fast-growing city that promises huge returns on investment for developers as well as investors, especially in the commercial realty sector. Here’s why it could be a game-changer for you to maximize your profits.
The IT Boom: A Tryst with Commercial Spaces
Pune has now emerged as one of the largest IT hubs in India and draws companies from all over the globe. Tech giants are flocking to areas like Hinjawadi, Balewadi, Baner, Pashan, Aundh, Kharadi, and Viman Nagar and require office spaces too. In turn, this has driven up the demand for commercial properties as more and more companies continue to establish their HQs or expand in these areas.
Developers have capitalized on this demand by developing state-of-the-art business parks and office buildings. It truly is a no-brainer, and investing in commercial real estate-type products around these areas powered by the tech boom can guarantee sustainable returns.
The ongoing trend of Co-Working Spaces in Pune
The second major trend that is changing the entire commercial real estate market of Pune are Co-working spaces. Traditional offices are no longer a viable option for start-ups and freelancers as they opt more for co-working spaces. The prime localities becoming popular among such users are Koregaon Park, Kalyani Nagar, and Baner within the city.
The Retail Boom: Riding The Consumer Demand Wave
The appetite for retail properties in Pune has been another gem of interest following rising disposable income levels and one of Asia’s megacities’ population (those migrating to Pune) swells. Aundh, Magarpatta, and Shivajinagar are areas where malls, retail centers, and high-street shopping areas have been thriving. Retail real estate gives developers guaranteed high foot traffic, and stable revenue through rent collection and it is a good investment tool. Retail spaces are expected to have higher demand in Pune’s commercial real estate segment as there is “strong consumer sentiment and spending”.
Investing in Mixed-Use Developments
As a fourth trend, mixed-use developments are becoming increasingly common — i.e. when commercial and residential spaces live in the same building or area as recreational areas. Balewadi and Wakad are also some areas where this concept is catching on. These developments are in keeping with rising expectations of convenience — after all, wouldn’t you want to live and work as well as shop within your compound effortlessly?
One reason why developers should work with a sole selling agency in Pune
There is stiff competition in the Pune commercial real estate market and it is not easy to get the best clients for commercial properties. It requires a large database of clients and a network of businesses that can turn up the avenues of sales for you in a quick shout-out, like what a sole selling agency has. Developers can benefit by working with a trusted sole selling agency like Skyline Sales, which offers a holistic approach from marketing strategies to sales execution enabling developers to achieve maximum ROI & navigate through commercial real Estate complexities.
Skyline Sales boasts extensive market knowledge and an impressive record of developer success. Skyline Sales is here to help you make the most of this vibrant real estate scene, whether you are launching a new commercial project or selling out flats in Pune.
