Commercial Real Estate In Pune
The total office space in Pune documented at approximately 2.5 million sq ft during the first three quarters of 2010, which plainly signifies the horizon of demand revival. The owners highly felt it was the appropriate time for them to expand as the prices were comparatively reduced. Because of high value Property in Pune, city is getting improved and modernize. Completions amongst SEZs would contain EON clusters A and B and Magarpatta's Cybercity buildings 8 and 9 at Hadapsar.
One of the important reason powering this desire revival was the growth in desire for SEZ. The affect was clearly visible with a majority of Pune's office space transactions (around 60%) recorded in SEZs in 2010. In 2011, demand is strengthen across markets, along with an enhance in SEZ absorption. The suburban micro-market, comprising mainly of the Hinjewadi region, is likely to benefit as it houses most of the upcoming SEZ supply. The secondary business district (SBD), on the other hand, presently has a significant share of the city's ready-to-occupy as well as under-construction stock located in SEZs (EON Cluster D, Cluster B and Cluster A and Magarpatta's Cybercity Towers VIII and IX) and various STPI units. This will also contribute substantially to the overall assimilation levels in the city during the coming quarters. Pune residential properties are going much more higher rather than the commercial properties.
The commercial market is anticipated to see a considerable supply of around 14.53 million sq ft in the next few years with most of the supply positioned in SBD and the suburbs. Some of the significant developments in SBD amongst the IT completions would contain Commerzone buildings 5, 7 and 8 at Yerwada and Weikfield IT Park's Block B at Viman Nagar. Completions amongst SEZs would contain EON clusters A and B and Magarpatta's Cybercity buildings 8 and 9 at Hadapsar. The majority of the long term supply in the suburbs would comprise of numerous IT SEZs by DLF, Paranjape (Blue Ridge), Embassy Group (Embassy Tech Zone) and Shapoorji Pallonji Group (SP Infocity).
Rentals are likely to remain stable across all precincts in the coming quarter, but will gradual increase towards mid-2011 and 2012. The owners highly felt it was the appropriate time for them to expand as the prices were comparatively reduced. So one expect a high revenue in return if on can invest on Pune Real estate.
One of the important reason powering this desire revival was the growth in desire for SEZ. The affect was clearly visible with a majority of Pune's office space transactions (around 60%) recorded in SEZs in 2010. In 2011, demand is strengthen across markets, along with an enhance in SEZ absorption. The suburban micro-market, comprising mainly of the Hinjewadi region, is likely to benefit as it houses most of the upcoming SEZ supply. The secondary business district (SBD), on the other hand, presently has a significant share of the city's ready-to-occupy as well as under-construction stock located in SEZs (EON Cluster D, Cluster B and Cluster A and Magarpatta's Cybercity Towers VIII and IX) and various STPI units. This will also contribute substantially to the overall assimilation levels in the city during the coming quarters. Pune residential properties are going much more higher rather than the commercial properties.
The commercial market is anticipated to see a considerable supply of around 14.53 million sq ft in the next few years with most of the supply positioned in SBD and the suburbs. Some of the significant developments in SBD amongst the IT completions would contain Commerzone buildings 5, 7 and 8 at Yerwada and Weikfield IT Park's Block B at Viman Nagar. Completions amongst SEZs would contain EON clusters A and B and Magarpatta's Cybercity buildings 8 and 9 at Hadapsar. The majority of the long term supply in the suburbs would comprise of numerous IT SEZs by DLF, Paranjape (Blue Ridge), Embassy Group (Embassy Tech Zone) and Shapoorji Pallonji Group (SP Infocity).
Rentals are likely to remain stable across all precincts in the coming quarter, but will gradual increase towards mid-2011 and 2012. The owners highly felt it was the appropriate time for them to expand as the prices were comparatively reduced. So one expect a high revenue in return if on can invest on Pune Real estate.
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