According to Goel Ganga developments owner, Annuj Goel, every Indian state has distinct social, physical, and economic characteristics, and they present a variety of opportunities for domestic and foreign investors seeking profitable real estate investments. Maharashtra is a state that draws investors for a variety of reasons. Pune and Mumbai are the most popular tourist destinations in Maharashtra.
Mumbai, India’s financial, entertainment, and commercial capital, has long been favoured by investors due to its potential for growth. However, Pune was always thought to be its weaker cousin. Despite no role reversal, Pune has emerged as India’s second most popular investment destination. In terms of financial and commercial success, it now competes with Mumbai.
Let’s take a look at why this city attracts more investors than other rapidly growing metropolises in India.
One of the Fastest Emerging Cities
You heard correctly. Pune has been named one of the world’s fastest growing cities. This was confirmed by the Mercer 2017 Quality of Living Ranking, which ranked Pune 145th out of 440 world cities competing for the title of most habitable cities. According to Mercer’s Index, Pune is the city with the most IT and automotive companies.
IT and Automotive Powerhouse
According to Annuj Goel Ganga, the managing director of Goel ganga developments, Pune existed for several years as a small city that drew companies such as Tata Motors, Bajaj, Finolex, and others. The city had beautiful weather and a slow pace of life, which drew pensioners from Mumbai and other nearby cities. The construction of the Mumbai-Pune Expressway and Hinjawadi changed everything. Today, it is home to several domestic and international IT/ITes companies and has developed into India’s strongest IT corridor.
IT companies in Hinjawadi and the surrounding areas of Baner and Balewadi, as well as the eastern suburbs of Kharadi, Yerwada, and Magarpatta, attract a large number of IT service professionals to the city.
As a result, the city’s demand for residential properties has increased. Property prices have also risen.
Did you know that Pune is:
- The city has an eclectic mix of automobile, information technology, and manufacturing companies, as well as private and public sector research institutes, says Annuj Goel Pune.
- The country’s second-largest IT hub, with most IT companies having registered offices in Hinjawadi, Yerwada, and other Pune suburbs.
- A location for a number of large and small automobile and engineering firms.
- After Mumbai, it is the state of Maharashtra’s second-largest city.
- It is one of India’s top five FDI investment destinations, with the most domestic and FDI investments under “Magnetic Maharashtra” and “Make in Maharashtra.”
- With a GDP of $60 million, it is India’s seventh richest city.
- Over 400 start-ups have been established in one of India’s most popular start-up destinations.
The Hub for Progressive Education
It has over 811 colleges, which produce more than 30% of the graduate workforce. This has resulted in a sort of information technology revolution in the city. The educated citizens of this city have contributed to the city’s growth in a variety of ways.
Spectacular Weather Throughout the Year
Because of its geographical location in the Western Ghats, the city of Pune enjoys a spectacular climate. Pune has stood the test of time as a fantastic destination for Millennials seeking a stress-free lifestyle in perpetually pleasant weather.
Pointers for Growth
The city of Pune intends to increase public transportation by 50% by introducing e-buses and e-auto rickshaws. In addition, the Pune Metro system, which currently has three lines, is being planned. The first line will run between the PCMC building and Swargate, the second between Vanaz and Ramwadi, and the third between Hinjawadi and Shivajinagar.
The Pune Municipal Corporation (PMC) is the only municipality that has raised more than Rs 200 crores for its Smart City Mission Project.