Are you considering investing in commercial real estate? If so, Pune should definitely be on your radar. Thanks to its advantageous location, flourishing business landscape, and favorable climate, Pune is quickly becoming a prime destination for commercial property investments. In this article, we’ll explore the reasons why you should consider purchasing a commercial shop in Pune.
What Are the Top 5 Reasons to Buy a Commercial Shop in Pune?
Benefits of Infrastructure Development:
In recent years, Pune has experienced significant growth in its infrastructure, with the construction of numerous highways and flyovers making transportation within the city much more convenient. Furthermore, the metro rail project that is currently in progress is anticipated to enhance connectivity even more. This favorable progress has transformed Pune into an attractive location for commercial property investments.
The technology hub of the region:
Pune has earned the moniker “Oxford of the East” due to its many distinguished educational institutions, and it is swiftly establishing itself as a technology company hub. Pune has attracted major players such as IBM, TCS, Wipro, and Infosys, who have established their offices there. As a result, there has been an increase in demand for commercial properties within the city.
Prospects for profitable business:
In addition to being a prominent hub for IT companies, Pune is also a thriving center for various other industries such as automotive, manufacturing, and pharmaceuticals. This diverse business ecosystem has transformed Pune into an attractive location for commercial investments. Furthermore, Pune’s sizable population results in a vast consumer market, which makes it a compelling destination for businesses seeking expansion opportunities.
Promote start-up growth:
Thanks to its favorable ecosystem and abundant resources, Pune has risen to become one of the leading destinations for start-ups in India. The government has also implemented several initiatives to promote start-ups in the city, including establishing incubation centers and funding programs. Investing in a commercial shop in Pune can provide access to this thriving start-up market and allow for leasing the property to start-ups seeking reasonably priced office spaces.
Exceptional weather:
Pune offers pleasant weather all year round, making it an attractive destination for individuals and businesses alike. The city enjoys mild winters and summers, which is a refreshing change from the harsh weather conditions in other regions of the country. Such agreeable weather makes Pune a coveted location for companies seeking to establish their offices and for employees seeking an enhanced quality of life.
What are the advantages of owning a commercial shop in Pune?
An increase in the value of commercial properties:
Investing in a commercial shop in Pune can prove to be a wise long-term decision due to the potential for the property’s value to appreciate over time. As Pune is progressing and developing as a city, commercial real estate is becoming more valuable. According to a report by JLL India, Pune is among the top ten emerging markets globally and has witnessed substantial growth in the commercial real estate industry. Therefore, purchasing a commercial shop in Pune can offer significant benefits as a long-term investment.
Lease and rent options:
Purchasing a commercial shop in Pune has the added benefit of offering various rent and lease options due to the city’s diverse business landscape. Pune boasts a wide range of enterprises, from budding startups to well-established multinational corporations, resulting in a high demand for commercial properties. This demand presents a lucrative opportunity for property owners to rent out their commercial spaces to tenants, generating a reliable source of income.
The potential for new businesses:
Pune is a thriving business hub, and there are numerous opportunities for new businesses to establish themselves in the city. Buying a commercial shop in Pune can provide a business with a physical space to operate from, giving them a greater sense of legitimacy and stability. Additionally, owning a commercial shop can be a cost-effective way for a business to establish a presence in a prime location, as opposed to renting or leasing a property.
Commercial shops in Pune: Different options to consider
Business Centers:
For those interested in purchasing a commercial shop in Pune, business centers are a highly sought-after option. These centers are typically multi-story buildings that provide a diverse selection of commercial spaces, including small offices and large retail areas. Business centers frequently come equipped with various amenities, such as meeting rooms, conference facilities, and shared reception areas. They offer an ideal solution for businesses seeking a ready-made option, as all aspects from the infrastructure to the upkeep are managed.
Malls:
In Pune, shopping malls are a popular choice for purchasing a commercial shop. Malls offer a variety of commercial spaces, ranging from small kiosks to larger retail stores. Furthermore, malls attract a considerable amount of foot traffic, making them an ideal location for retail businesses. However, it is worth noting that malls may be pricier than other commercial options due to their prime location and additional amenities.
Residential Building with Shops:
Residential buildings featuring commercial shops are a great investment opportunity for individuals seeking to own a commercial shop in Pune. These multi-story buildings usually have commercial spaces on the ground floor and are suitable for businesses that serve residential clients, like restaurants, convenience stores, or grocery stores. Moreover, these buildings provide a pre-existing customer base, as the residents of the building could potentially become customers.
Conclusion:
In summary, buying a commercial shop in Pune is a promising investment opportunity due to the potential for increased commercial real estate value, rental and lease options, and new business ventures. However, it is important to explore all available options before making a decision.
After conducting a thorough analysis, we highly recommend Westfield23 as the best choice for purchasing a commercial shop in Pune. Their commercial spaces are strategically located, equipped with modern amenities, and offer flexible payment plans. Additionally, their exceptional customer service ensures a smooth purchasing experience.
If you are looking for a profitable and hassle-free investment, consider purchasing a commercial shop in Pune through Westfield23.
FAQ’s
Q: What is the cost of a commercial shop in Pune?
A: The cost of a commercial shop in Pune varies depending on factors such as location, size, and amenities. However, on average, it can range from INR 50 lakhs to INR 10 crores.
Q: What are the legal requirements for purchasing a commercial property in Pune?
A: It is important to ensure that the commercial property you are purchasing has all the necessary legal approvals and clearances. It is advisable to seek the services of a lawyer who specializes in commercial real estate transactions to ensure a smooth and hassle-free purchase.
Q: Is it easy to find tenants for a commercial property in Pune?
A: Yes, Pune has a large and diverse business ecosystem, making it relatively easy to find tenants for your commercial property. However, it is important to price your property competitively and provide the necessary amenities to attract tenants.