Pune as a city has been growing from strength to strength. It
has the perfect mix of balanced weather conditions and improving
infrastructure. It was established as an academic city of India
and traditionally known as the 'Oxford of the East'. It is the
cultural heart of Maharashtra. It has four universities, 20 engineering
colleges, 200 other colleges, and over half a million students.
Once a quiet city, it is now the setting an example for fast growth
and excellence in infrastructure and housing and IT. It is a haven
for job seekers. It is expanding from all sides.
The City has stretched its limits from its Western end at Hinjewadi
where the IT Park is situated and its South East end. Pune holds
its sway over both the young and the old. Businessmen and the
affluent are keen to acquire second homes in Pune.
Pune hugely leverages on its proximity to Mumbai, India's financial
and commercial capital. The expressway makes for a lovely three-hour
drive from Mumbai to Pune. Pune real estate scenario presents
a healthy breather from the prohibitively high property prices
in Mumbai. Lonavala on the Mumbai Pune Expressway is also a potential
location next to Pune. It is emerging as a preferred choice for
second homes for many Mumbaites and NRIs.
Infrastructure and Facilities
Currently Pune is the 7th ranking industrial metro of India. It
is fast scaling up on the infrastructure front. In fact, Kothrud,
a colony in Pune has achieved a place in the Guinness book of
world records for having the fastest urban growth rate. Earlier
on, Pune was an automobile hub which attracted major investments
from both domestic and international firms. It is working towards
consolidating its position as the 'Detroit of India.'
The city is becoming more vibrant and necessitating a spruced
up infrastructure. Roads are being concretized, a metro is being
planned, and also a new airport. Pune has direct flights to Dubai
and Singapore. There are plenty of recreation areas, strong presence
of local as well as foreign banks and shopping areas in the current
and upcoming developments.
Pune's glorious list of institutes includes Fergusson College,
Symbiosis institutes, AFMC (Armed Forces Medical College), Pune
Institute of Engg & Technology, SNDT Women's University and
one of the 12 United World Colleges.
Ruby Hall Clinic and Jehangir Hospital are prominent hospitals
with well equipped staff consultants, panel doctors and paramedical
staff. Ruby Hall Clinic has state of the art facilities in cardiology,
cardiac surgery, neurology complete with a nuclear science center,
diagnostic center, intensive care units, a blood bank and cancer
Magarpatta City, a self sufficient township has also attracted
interest from the IT companies due to the IT Park being developed
within the township. The government promoted Rajiv Gandhi Infotech
Park at Hinjewadi has attracted scores of infotech majors from
around the world along with top IndianIT players like TCS, Infosys
and Wipro having a major presence here. Privately promoted IT
Parks are also big in number. Pune attracts 20 per cent of the
total industrial investment in the country and accounts for $2
billion in IT exports, one of the highest for a single city.
A 400,000 sq.ft. mall catering to residents of the Pimpri Chinchwad
area, a major industrial belt as well as IT professionals in Hinjewadi
is being planned. The Pune
Municipal Corporation (PMC) is moving slowly on its Integrated
Road Development Project. The PMC has fixed up a ceiling of 100
meters on high-rises. A high-rise building can be constructed
only on 30 meter wide roads with specific plot sizes. A building
of 50-70 meter height would require a minimum plot size of 6,000
square meters while that of 70-100 meter height would require
a minimum plot size of 8,000 square meters.
The city's infrastructure is keeping good pace with the staggering
real estate activity.