Pune underwent a complete makeover, from a laid back city content to bask in its historic glory to a vibrant, modern cosmopolitan society home to a large migrant population, becoming one of the top IT hubs in the country. A large part of this metamorphosis can be attributed to the planning and development of The Rajiv Gandhi Infotech Park.
The foundation was laid in 1998 and the IT Park, built on a vast land parcel of 2800 acres in 3 phases by Maharashtra Industrial Development Corporation (MIDC), became operational in 2001. Since then most top software companies & MNCs including Infosys, Wipro, TCS, Cognizant etc. have set their offices in Hinjewadi. Employing a vast workforce of more than 2 lakh IT professionals, Hinjewadi IT Park is one of the biggest industrial areas around Pune, and contributes almost 60 % of Maharashtra’s IT exports with investments in excess of USD 1 Billion!
This rapid development has had a positive effect on the entire economic growth of Pune with Hinjewadi and the surrounding areas becoming the most in demand investment destinations. In addition to demand for residential properties, commercial properties have also struck gold with investors looking for shops & office space in Pune preferring Hinjewadi to set their business. Read on to know about some important factors that have played a major role in making Hinjewadi one of the most happening hubs for commerce…
Major employment zone
With the Hinjewadi IT Park employing a large number of skilled professionals and being one of the top zones for employment opportunities, a huge number of people have migrated to Pune from all over the country. Good income, standard of living, social & civic amenities, safety & security have made settling in Pune a lucrative option for many of the families. These professionals have good salaries, better spending power and enjoy a well to do lifestyle. Naturally commercial ventures have flourished with a ready-made customer base.
Well connected to all strategic locations
Hinjewadi’s close proximity to the old Mumbai Pune Highway was one of the main reasons why it was chosen as a site for the IT Park. The idea was to harness the business potential from both Mumbai and Pune which was fulfilled to its potential. The Mumbai Pune Expressway made Hinjewadi an even bigger prime commercial hub. In addition to the Mumbai Pune corridor, Hinjewadi is also close to the Mumbai Bangalore highway a part of the Golden Quadrilateral, and with the recent approval of the Metro link between Hinjewadi and Shivaji Nagar connectivity will improve further. Easy accessibility to the airport, railway station, and localities such as Baner, Aundh, Balewadi, and Pimpri-Chinchwad are a big plus.
Well planned infrastructure
Well planned infrastructure, good roads, water, electricity is a requisite for people to stay in the area and businesses to prosper. One of the reason Hinjewadi is home to many top educational institutes, entertainment & shopping centers, sports facilities, healthcare services and other commercial ventures.
Appreciation in property values & rental incomes
One of the important reasons for property investments in Hinjewadi is the high value appreciation in residential and commercial properties. The increasing demand has pushed up rental incomes as well. So even a person looking for a commercial shop for sale in Pune does have the option of renting a good commercial property!
This ongoing development of Hinjewadi will naturally mean a spike in demand for dedicated commercial complexes. The Pride Purple Group, one of the leading names in Pune real estate for twenty years, have some interesting ongoing commercial projects in prime locations of Pune. Facilitating ease of trade, maximum visibility for enterprises, best in class amenities and hassle free operations for shops and offices as well as excellent connectivity to city centers, these Pride Purple commercial properties offer a comprehensive foundation to businesses.
With all factors ready to make your venture a success, interested buyers on the lookout for quality offices or shops for sale in Pune, need not go beyond Pride Purple properties. Visit the website to select the commercial project that best suits your needs!