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Pune growth emphasised in 25 million sq ft Resi deal

2 MIN READAugust 28, 2019

The current growth in Pune is apparent through the current infrastructure moves and real estate deals happening, as investors flock to the city to take advantage of the growing market.

Pune, one of the largest centres for education, IT/ITeS and manufacturing is currently the talk of the town. The rise of both start-ups and coworking operators, as well as the availability of amenities backed by the connectivity of Mumbai is leading to exciting growth. 

Looking at India's population graphics, an enormous 62% of the Pune population is under 30. It also currently has a record breaking amount of students, as well as being one of the fastest growing cities in the Asian-Pacific.

Looking at the Infrastructure Growth in Pune, the proposed airport with lead to further opportunities and more development. A number of projects are currently underway within Hinjewadi; the six lane bridge over the Mula is complete, the alternate road to RGIP has made a lot of progress and is expected to complete in the next year, and the three line metro is set to be operational within the next few years.  

In a city like Pune, which consists of a high migrant population due to great job opportunities, the accelerating demand of residential properties is inevitable. This recently culminated in a 25 million sq ft deal for 6 residential development projects between Godrej and Solitaire.

The portfolio for the deal, which was overseen by real estate consultancy firm EverVantage, comprises a number of asset classes including mid-market group housing projects, plotted development, mixed-use development and premium housing projects. 

Sudhanshu Kejriwal, Managing Partner at EverVantage, said in a statement that he believes consolidation is good for the industry. And while we may see fewer projects launched in the years ahead, there is now predictability for all vested parties. 

Sudhanshu Kejriwal will attend India GRI on 18-19 September, which gather’s India’s most senior developers, lenders and investors for closed-door, informal discussion on current market trends and nuanced insight.  

Article by Matt Harris

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