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bikash · 12-02-07

Pune has been the hotbed of engineering activity for many years. In recent times though, IT, ITeS and a lot of R&D work has considerably upped the ante of real estate development within the city. The pace of development is unprecedented here and those who visit the city after a long time may find it unrecognisable.

There is a spurt in all three segments -- commercial, residential and retail. Over the last 2-3 years the Pune residential market has seen huge appreciation in terms of its capital values.

Land prices too have doubled in most areas over the last year-and-a-half. Development in Pune today is bipolar. The north western side on the road towards Mumbai as well as the eastern side are seeing a lot of IT-driven development.

The high-end residential development is happening at Koregaon Park, Hadapsar, Kalyani Nagar, Boat Club Road, Bund Garden Road, Shivaji Nagar and Law College Road. Places like Deccan Gymkhana, Bhandarkar Road, Model Colony, Kothrud, Senapati Bapat Road and Camp are old posh areas of the city, where generous new developments are taking place today.

According to some estimates, there are 20-25 malls being planned in Pune. There are 14 upcoming malls in the city that are in different stages of development -- under construction and in the planning stages.

Originally commercial space in the city was in the central business districts (CBD) at Camp, Bund Garden Road and Dhole Patil Road as well as off-CBD areas like Deccan Gymkhana, Senapati Bapat Road and Wakdewadi. According to an estimate there is about 20 million sq ft of office space being developed across the city.

Some of the bigger national developers are showing an interest in the city. DLF has taken some land near Hinjewadi on the western side; Unitech has been reported to be looking for land; Reliance is planning a mall close to the Armed Forces Medical College in the Turf Club area. K Raheja Corp is looking at a 1 million sq ft development at Yerawada near Lohegaon airport. This might be a mall-cum-hotel development.National developers might be here but the flavour of this market is local, says Watve. There are over 300 local builders, some of the more prominent ones being Panchshil Realty, Gera Developments, Paranjape Schemes, Kumar Builders, Kolte Patil and DS Kulkarni Developers.

With such a strong realty buzz, Pune's real estate action has only just begun.

12-02-07	#1
bikash New Member Join Date: Jan 2007 Posts: 25 Thanks: 0 Thanked 0 Times in 0 Posts	Pune, India's next boom town Pune has been the hotbed of engineering activity for many years. In recent times though, IT, ITeS and a lot of R&D work has considerably upped the ante of real estate development within the city. The pace of development is unprecedented here and those who visit the city after a long time may find it unrecognisable. There is a spurt in all three segments -- commercial, residential and retail. Over the last 2-3 years the Pune residential market has seen huge appreciation in terms of its capital values. Land prices too have doubled in most areas over the last year-and-a-half. Development in Pune today is bipolar. The north western side on the road towards Mumbai as well as the eastern side are seeing a lot of IT-driven development. The high-end residential development is happening at Koregaon Park, Hadapsar, Kalyani Nagar, Boat Club Road, Bund Garden Road, Shivaji Nagar and Law College Road. Places like Deccan Gymkhana, Bhandarkar Road, Model Colony, Kothrud, Senapati Bapat Road and Camp are old posh areas of the city, where generous new developments are taking place today. According to some estimates, there are 20-25 malls being planned in Pune. There are 14 upcoming malls in the city that are in different stages of development -- under construction and in the planning stages. Originally commercial space in the city was in the central business districts (CBD) at Camp, Bund Garden Road and Dhole Patil Road as well as off-CBD areas like Deccan Gymkhana, Senapati Bapat Road and Wakdewadi. According to an estimate there is about 20 million sq ft of office space being developed across the city. Some of the bigger national developers are showing an interest in the city. DLF has taken some land near Hinjewadi on the western side; Unitech has been reported to be looking for land; Reliance is planning a mall close to the Armed Forces Medical College in the Turf Club area. K Raheja Corp is looking at a 1 million sq ft development at Yerawada near Lohegaon airport. This might be a mall-cum-hotel development.National developers might be here but the flavour of this market is local, says Watve. There are over 300 local builders, some of the more prominent ones being Panchshil Realty, Gera Developments, Paranjape Schemes, Kumar Builders, Kolte Patil and DS Kulkarni Developers. With such a strong realty buzz, Pune's real estate action has only just begun.