Construction Industry all over the world shows a rise in its rate of growth. As far as India is concerned the government polices and expenditure in infrastructure, training and regeneration projects has boosted unprecedented growth levels across all market sectors and it is expected to increase by almost 20% by 2014. This figure is forecasted to continue to rise aided by the highly skilled and educated labours, fast expansion of leisure oriented class and the huge influx of visitors to the country promoted by tourism.
With the increasing potential and ongoing infrastructural developments the overall real estate demand in India is estimated to be 2000 million units. The construction industry has strong direct and indirect linkages with the overall development. Its multiplier effect on the economy is one of the highest at 1.85 times the assets being created. The growth potential for construction material in India is estimated ranging from 7% to 15% for different material segments.
In order to give a boost to the economic development of the country, the Government has embarked upon a massive National Highways Development Project (NHDP) in the country. Under the first two phases of the project, about 14,279 km lengths of National Highways are proposed to be upgraded to 4 or 6 lanes. Indian road network of 33 lakh km is second largest in the world.
With such multifold developments India surely is the hottest market for construction industry and estimated to grow bigger in near future.
Pune, the seventh largest metropolises in India and the sixth highest per capita income in the country is located in the state of Maharashtra. It is the second largest city in the state after Mumbai, and is considered an important city in terms of its economical and industrial importance. Located around 120 kilometers from Mumbai, the commercial capital of India, Pune is famous for its educational institutions earning it the sobriquet "Oxford of the East."
Pune’s new roadmap of growth
The phenomenal growth in economy of Pune has deemed it as one of the most favoured areas for investment in industrial, commercial and residential properties. Pune has also emerged as a major destination of many commercial hubs like showrooms, malls, convention centers, hotels, clubs, retail stores, multiplexes and malls that has increased the demand of commercial as well residential properties. Due to this, the property market in Pune is flourishing. As more and more companies and industries, whether IT or others, are looking out for industrial and commercial property in Pune so that they can build their base in the region, the rates of lands and plots in Pune is skyrocketing. People from other parts of India are also choosing Pune as an ideal place to reside.
As one of the largest cities in India, and as a result of its many colleges and universities, Pune is emerging as a prominent location for IT and manufacturing companies to expand. Pune also has hundreds of large and small IT companies. The Hinjawadi IT Park (officially called the Rajeev Gandhi IT Park ) area of about 2,800 acres (11 km2). The estimated investment in the project is 60,000 crore (US$10.92 billion).
Pune is home to the Automotive Research Association of India, which is responsible for the homologation of all vehicles available in India. All sectors of the automotive industry are represented, from two-wheelers and auto rickshaws to cars, tractors, tempos, excavators and trucks. Automotive companies like Tata Motors, Mahindra & Mahindra, Mercedes Benz, Force Motors (Firodia-Group), Kinetic Motors have set ups in Pune. Automotive companies including General Motors, Volkswagen, and Fiat have set up Greenfield facilities near Pune, leading The Independent to cite Pune as India's "Motor City". Several automotive component manufacturers like Saint-Gobain Sekurit, TATA Autocomp Systems Limited, Robert Bosch GmbH, ZF Friedrichshafen AG, Visteon, and Continental Corporation are located here.
Pune is the largest hub in India for German companies. According to the Indo-German Chamber of Commerce, Pune has been the single largest hub for German companies for the last 60 years. Over 225 German companies have set up their businesses here.
Pune is a pleasant travel getaway destination to spend a quite holiday. This beautiful city has many exotic locales attracting innumerable tourists.