Pune, known as the “Oxford of the East” has transformed into a modern metropolis, offering not only a high standard of living but also a thriving business environment. With a rich cultural heritage, world-class educational institutions, and a flourishing job market, it’s no wonder why Pune is attracting businesses from all over the country. Pune has established itself as a rapidly developing city in India, attracting businesses and entrepreneurs alike with its highly desirable quality of life and real estate market.
In recent years, the city has seen a substantial increase in the demand for office space, with a recent survey showing the highest absorption of office space in Pune in 2022. This growth in demand is a clear indication of Pune’s attractive prospects making it an ideal location for businesses and individuals.
Quality of Life in Pune
With ample employment opportunities and a high quality of life, Pune continues to attract and retain top talent, fueling its growth as a desirable location for businesses. The city’s standard of living, education, culture, and employment opportunities provide a compelling and attractive environment for businesses and employees alike.
1. Standard of Living:
Pune offers a high standard of living for its residents, which makes it an attractive location for both businesses and employees. The city has a diverse and thriving real estate market, offering everything from luxurious apartments to affordable housing. Additionally, Pune has a well-developed infrastructure, making it a convenient location for people to live and work in.
2. Education:
Pune is known as the “Oxford of India” and is home to some of the best educational institutions in the country. From universities to schools and colleges, Pune provides high-quality education to its residents. This well-educated population attracts businesses looking for skilled workers and contributes to the city’s overall prosperity.
3. Culture:
Pune is a city steeped in rich cultural heritage and history, which makes it a desirable location for businesses looking to tap into this cultural richness. From its temples and historical sites to its vibrant street life, Pune offers a unique and appealing cultural experience to both businesses and employees.
4. Business & employment opportunities:
Pune is a hub for various industries, including the IT Industry, Manufacturing, Banking & Financial Services, Healthcare, and more. The city is home to a thriving business community and is one of the fastest-growing cities in India. With a favourable business environment, a large pool of skilled workers, an educated and tech-savvy population, and a supportive government, Pune offers a wealth of employment opportunities to both local and international companies in these diverse business sectors.
Another important aspect that makes the city a popular destination for enterprises is the growing real estate industry. Pune’s commercial real estate market is expanding quickly, and numerous new offices and commercial spaces are being built to keep up with the rising demand of the Pune property market. Pune is a desirable site for firms wishing to establish a foothold in India due to the city’s well-developed infrastructure and pleasant business environment
Real Estate Market in Pune
The demand for commercial real estate in Pune is increasing and is currently experiencing a boom. The city’s expanding population, along with more job vacancies and migration, is boosting the real estate market. The real estate market in the city provides a wide range of homes, including flats, villas, and even independent houses, to suit various needs and preferences.
i. Availability of commercial and industrial properties
The commercial property in Pune is flourishing in addition to its residential properties. Modern commercial properties and industrial parks are abundant throughout the city, offering an ideal setting for companies to expand and thrive. Pune has also experienced a rise in commercial spaces in recent years, which makes it simpler for startups and independent contractors to locate adaptable office spaces.
ii. Government policies and investment opportunities
Pune even today is considered the most affordable and livable city in the country due to its rapid expansion and low living costs. In contrast, Mumbai’s properties are overpriced, leaving little opportunity for growth. As a result, Pune has become the go-to option for further development and attracting investment in the state. The government has recognized this and has proposed new schemes and infrastructure projects in Pune and nearby areas to encourage growth and investment. This has opened up a multitude of opportunities for businesses looking to establish themselves in the region. The city’s favourable policies and investment opportunities have made it an attractive destination for businesses to grow and thrive.
Unlocking the Potential: Key points to the Business Advantages of Pune
1. Availability of a skilled workforce and talent pool:
Pune has a large pool of highly skilled workers, many of whom are employed in the city’s thriving IT and engineering industries. This talent pool provides businesses with access to a skilled workforce that can help drive their growth and success. Additionally, the cost of labour in Pune is relatively low compared to other cities in India, making it an attractive location for businesses looking to keep their costs under control.
2. Access to transportation and infrastructure:
Pune is well-connected to other parts of India, as well as to international destinations. The city has its own airport and is accessible by road, rail, and air. Additionally, the city’s well-developed infrastructure makes it easier for businesses to set up operations and transport goods and services. This access to transportation and infrastructure is a key factor in Pune’s growing popularity as a hub for commercial real estate.
3. Proximity to key markets and industries:
Pune is located near several key markets and industries, including the Mumbai-Pune industrial corridor, which is home to a number of large automobile, IT, and biotechnology companies. Additionally, Pune is close to the western coastal region of India, which is a major hub for trade and commerce. This proximity to key markets and industries makes Pune an attractive location for businesses looking to tap into these markets.
4. Competitive business environment:
Pune has a competitive business environment, with low tax rates, favourable government policies, and a focus on supporting businesses. The city has a number of industrial parks, special economic zones, and IT parks that provide businesses with the infrastructure and support they need to succeed. Additionally, Pune’s well-developed banking and financial sector makes it easier for businesses to access funding and other financial services.
Conclusion
There are various factors that make Pune an attractive location for commercial real estate. Pune offers a high quality of life and a stable real estate market, which makes it an ideal location for businesses to invest in. Pune is home to a young and highly educated workforce and favourable demographics. It is a hub for the IT and automotive industries, among others. Additionally, the city offers a range of cultural and recreational activities, making it a desirable location for both businesses and employees. In terms of the real estate market, there is a stable and growing business set up in Pune, with many new commercial developments being constructed.
Ambrosia Galaxy commercial office space is an exciting opportunity for businesses looking to establish a presence in Pune. The development is located in the prime location of Pune – Baner! It offers state-of-the-art facilities and amenities, making it an ideal location for businesses of all sizes. Whether a business is looking to relocate or expand its operations, Ambrosia Galaxy is the perfect place to do so.