There has been a sharp rise in demand for commercial properties in Baner, Pune. Baner is one of the largest suburbs in the Western region of Pune. This suburb has seen rapid development in the past few years; especially during the year 2008, when the Commonwealth Youth Games were hosted in the Balewadi Stadium. This event sparked off development in this area and soon, developers realized Baner’s potential to be a commercial and residential destination.
Another factor that played into Baner’s favor is the building of the Rajiv Gandhi Infotech Park in Hinjewadi. This IT Park today, stands as the engine for development of the city. Pune has seen an enormous upsurge in its economy because of the IT Park. Hinjewadi developed rapidly and the progress also spilled onto the adjoining areas like Aundh, Baner, Wakad, etc. Today, all these suburbs are high-end residential destinations. Amongst them, Baner has a healthy mix of commercial development as well.
Baner is great from an investment point-of-view. The property rates have steadily increased over the years, which has attracted investors and end-use buyers alike. Currently, the property rates are not astronomical but are expected to reach that level in the coming years. Hence, merely investing here is also a smart move, as there is a great chance of high returns.
Baner is home to many smaller IT parks that house various businesses. The commercial scenario over here, is rapidly developing as newer residential projects are mostly located in the interiors of Baner, leaving space in the central areas for commercial development.
Another factor that perpetuates Baner as an ideal commercial destination is the transport facilities. The PMPML (Pune Mahanagar Parivahan Mahamandal Limited) has many buses that connect Baner to other important parts of the city. The frequency of the buses is also good, and hence, many people opt for public transport. People using private transportation like cars, motorbikes, scooters, etc. also find traveling here convenient, as Baner has a good network of well-maintained roads.
The scenario for recreation is also quite developed here. There are many high-end, fine-dining restaurants in the area, that serve cuisines from all over the world. There are also many international fast food chain joints, which is again an important indicator of development in Baner, as these large chain restaurants operate only in developed areas.
Since Baner also has a large residential area, there are many retail stores that cater to them, providing necessities like groceries, fruits, vegetables, dairy and meat products and so on. There are quite few shopping malls as well that sell everything from high-end clothing brands to high-tech electronic goods. Baner is an ideal destination for a comfortable life.
Many developers have realized the potential of the area, and have developed commercial projects in Baner. Owing to the above mentioned factors, commercial properties are high in demand, and many companies are interested in setting up business in the area. Employees of such businesses also find it easy to commute here or even end up renting of buying homes here. All in all, Baner is a great place for residential and commercial development, and businesses have great potential to flourish, owing to the IT parks being built all around.