Location Of The Month | 1st April, 2022
However, the ultimate shift in gear originated from the IT sector in the late 90s. This marked an era that changed the face value of this city from a mere urban settlement to a host of formidable commercial sectors.
Under Pimpri-Chinchwad Municipal Corporation (PCMC), the infrastructure development was fast-tracked to retain international interest in Pune. Within a span of two decades, Pimpri-Chinchwad became an efficient and cost-effective locale. Various residential suburbs are integrated with this area to strike a work-life balance for the employees.
However, the most prominent expansion was observed in the commercial sector. Foreign MNCs, conglomerates, renowned IT companies, pharmaceuticals, manufacturing companies, and research centres were established in this region within the first decade of industrial development. This became a strong foothold for the next phase comprising BFSI, SMEs, start-ups, and training centres for freshers.
All these components formulate a trusted entrepreneurial environment. Here are a few reasons why your company needs this location to ensure streamlined operations:
E-commerce is a high–scaling industry in Pune that has flourished even more during lockdown (since people preferred online transactions). This has propelled a cut-throat environment in transport and logistics.
For delivery and distribution, selecting a prime location that can link to other suburbs quickly is the key to being a step ahead.
Pimpri-Chinchwad boasts extensive connectivity to inter-city and outstations:
~ It is conveniently placed at the confluence of NH-4 (the Mumbai-Bangalore highway) and NH-50 (the Pune-Nashik highway).
~ Pimpri-Chinchwad has also swift roadway access to Mumbai (163 km), Hyderabad (548 km), Bangalore (835 km), Chennai (1166 km) which are high-volume consumer zones.
~ Gera’s Imperium Gateway, PCMC is located near Nashik Phata which is the first multi-layered flyover in the district. It crosses NH-4, NH-15 for easy connection to Mumbai and Nashik. Furthermore, the railway station, metro station is in close proximity to this commercial complex. Such multi-modal transport facilities help a business to function with ease.
~ Pune International Airport is barely a 15 mins journey from this complex, which is feasible for foreign investors and corporate meets.
Networking is the basis of a scalable business to expand further. Imperium Gateway is situated in Bhosari (which has its own MIDC) at the Peripheral Business Districts (PBD) of Pune West. This district also includes Hinjewadi IT Park, Chakan MIDC, Talegaon MIDC, IT parks in Nigdi & Talawade, industrial areas in Chinchwad and Akurdi.
The point here is the network one can create and the business relations formed due to this interlinked region becomes the extrinsic value of your company.
A key factor while selecting a commercial complex in Pune is to assess the essential services in the vicinity.
~ Pimpri-Chinchwad is surrounded by efficient healthcare services like Aditya Birla Memorial Hospital, Oasis, Citicare, Saijyoti, Phoenix, Orchid, Helios Bharti and Bora. They are the top amongst many other multi-specialty hospitals located within a 5-10 km radius from Gera’s Imperium Gateway, PCMC.
Since the company is responsible for employee welfare, such convenient access is significant during emergencies.
~ Another facet of a commercial complex is that frequent business meets are arranged. Pimpri-Chinchwad has some of the top-rated hotels. Such high-end hospitality is essential for business propositions.
Given all these significant features, let’s evaluate the commercial real estate of PCMC –
~ According to the report by Punekar News, Q1 of 2020 observed a peak of 79% in half-yearly leasing in Pune. According to industry experts, the city-wide rental values are projected to rise marginally at CAGR of 0.6% from 2019-2024.
In such a burgeoning estate, Pimpri-Chinchwad emerged as the top node among 5 locations.
~ Even during the pandemic, the consistent demand has led to a shortage of space. Which is why, areas like Pimpri, Wagholi, and nearing areas are modified as land parcels at low prices. At present, almost 2 million commercial stock is majorly driven by rentals.
~ The general consensus by IT/ITES and manufacturing companies that leasing is better than sale strata have led to appreciation in rental prices.
~ With PCMC shifting its office near Pimpri Railway Station, it is set to boost demand for personal office spaces in this micro-market. Overall, the proposed retail expansion of 1.1 million sq. ft. will propel the property value with Hinjewadi and Wakad at the forefront (viz. Phoenix Market City).
In Conclusion, Pimpri-Chinchwad is an affordable, feasible, and accessible node that can grow your company with this commercial complex in Pune, simply by association.
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