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Pune: The second biggest investment destination in India?

Pune: The second biggest investment destination in India?

Every Indian state has unique social, physical, and economic characteristics, and they present several opportunities for domestic and foreign investors looking for beneficial real estate investments. Maharashtra is a state that attracts investors for specific reasons. In Maharashtra, Pune and Mumbai are the most sought-after destinations. Mumbai – India’s financial, entertainment, and commercial capital was always favoured by investors owing to its growth possibilities. However, Pune was always considered its weaker cousin. Although there has been no role reversal, Pune has emerged as the second hottest in India. Today, it is competing with Mumbai in terms of financial and commercial success. Let’s see why this city attracts more investors to this city than other growing metro cities in India.

One of the Fastest Emerging Cities in the World

Is it? Yes. You heard correctly. One of the world’s cities with the fastest urban growth is Pune. This was supported by the Mercer 2017 Quality of Life Ranking, which placed Pune at position 145 among the 440 global cities that competed to be the most livable. Pune is referred to as the city that is home to IT and automotive firms in Mercer’s Index.

A Powerful Automotive and IT Hub

For many years, Pune was a small city that attracted businesses like Tata Motors, Bajaj, Finolex, and others, according to Suresh Castellino, the Executive National Director of Colliers International. The city’s excellent weather and leisurely pace of life drew retirees from Mumbai, a nearby metropolis. Everything changed with the construction of the Mumbai-Pune Expressway and Hinjawadi. Today, it is the location of a number of domestic and foreign IT/ITes enterprises and has developed into a powerful IT corridor in India. Several IT service professionals are drawn to the city by the IT enterprises in Hinjawadi and the nearby neighbourhoods of Baner and Balewadi, as well as the eastern suburbs of Kharadi, Yerwada, and Magarpatta. As a result, the city has seen an increase in demand for residential properties.

Do you know Pune is:

  • The city offers an eclectic combination of an automobile, IT, and manufacturing companies, as well as private and government sector research institutes. 
  • The second-largest IT hub of the country with most IT companies having registered offices at Hinjawadi, Yerwada, and other suburbs of Pune.
  • Home to several large and small automobile and engineering companies.
  • The second-largest city in the state of Maharashtra after Mumbai.
  • Among the top five FDI destinations of India, it has bagged maximum domestic and FDI .investments under “Magnetic Maharashtra” and “Make in Maharashtra”. 
  • The seventh-richest city in India with an estimated GDP of $60M.
  • The most popular start-up destinations in India, hosting over 400 start-ups.

The Portal for Progressive Education

Pune is known as the “Oxford of the East,” but why? The answer is yes, there are more than 811 colleges there, and more than 30% of the graduate workforce is produced by them. In a way, the city has undergone an IT revolution as a result. The well-educated residents of this metropolis have made several contributions to its development.

Development Pointers

The city of Pune intends to deploy e-buses and e-auto rickshaws to increase public transit by 50%. There is also the planned Pune Metro system, which currently has three lines. The PCMC building and Swargate will serve as the first line, Vanaz and Ramwadi will serve as the second line, and Hinjawadi and Shivajinagar will serve as the third line.

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