Pune Real Estate: A Vibrant Market
According to a Times News Network report, the most vibrant retail real estate market in western India in the last 2-3 years is to be found in the city of Pune. Experiencing a economic revival due to the increasing inflow of IT / ITEs companies, Punes growth has given an added boost to the citys real estate pushing retail in the forefront. Well-known brands and retail giants wishing for a slice of the real estate pie are setting up property ventures e.g. Central Mall belonging to the Pantaloons group. Not to be left behind, retailers with large portfolios i.e. Pyramid and Shoppers Stop are also expanding their retail operations in Pune city.
A research undertaken by Trammell Crow Meghraj reveals over 5-million sq. ft. of built retail space will be available on the Pune real estate market within the next 24-months, while another 5-million sq. ft. still in the planning stage is scheduled to come up in the year 2010.
Amongst, the flourishing mall developments to come up in the high-street retail areas of Pune area are Nucleus Mall and Magnum Mall in the vicinity of MG Road and Kakade respectively. Other upcoming retail...