ECONOMY IN PUNE IS CURRENTLY AT ITS PEAK AND EVER RISING, THANKS TO THE DEVELOPING AREAS AROUND PUNE CITY LIKE BARAMATI, DAUND, CHAKAN, PIMPRI CHINCHWAD. OVER THE YEARS, PUNE HAS TRANSFORMED FROM A SMALL TOWN TO INDIAS LEADING HUBS FOR THE SERVICES, MANUFACTURING FINANCIAL, IT, AND EDUCATION SECTORS.
THE 7TH LARGEST METROPOLIS IN INDIA, PUNE IS TODAY THE MOST PREFERRED BUSINESS DESTINATION IN COUNTRY. ALSO, AMPLE OF IMPORTANT CITIES LIKE MUMBAI, NASHIK, THANE ARE WELL CONNECTED. THE BUSINESS SET UP COSTS IN PUNE IS LESSER AS COMPARED TO ITS PARTNER CITIES LIKE MUMBAI, MAKING IT THE PREFERRED DESTINATION FOR STARTUP OWNERS AND SMALL BUSINESSES. ALSO PUNE IS WELL KNOWN FOR BEING A EDUCATIONAL HUB, WITH A LOT OF COLLEGES OFFERING DIPLOMA AND DEGREE PROGRAMS IN VARIETY OF SUBJECTS.
ECONOMIC ACTIVITIES HOLD THE FOREFRONT OF PUNE IN PRESENT SCENARIO. AREAS AROUND PUNE LIKE BARAMATI, TALEGAON, WARJE, WADGAON, ETC. ACCOUNTING TO A MAJORITY OF PUNES AGRICULTURAL PRODUCE.
TURNING TO THE INDUSTRIAL SECTOR, MIDC HAS DEVELOPED 2 INDUSTRIAL ESTATES IN IMMEDIATE VICINITY OF PUNE. ONE SUCH AREA IS LOCATED AT PARVATI WHILE THE OTHER IS AT BHOSARI, NEAR ALREADY SPAWNING INDUSTRIAL AREA OF PIMPRI, CHINCHWAD.MIDC PROVIDES SUBSUDUSED RATES FOR LAND, FUEL, WATER AND SELECT RAW MATERIALS IN ITS INDUSTRIAL ESTATES.
Fast emerging as an InfoTech hub, Pune has become a top contender for the ‘Silicon Valley of India’ slot. Pune has emerged as a leader in high-end engineering design and product development carried out of Multinational Corporations and R&D outposts, surpassing Bangalore. According to the Maturity Benchmarking Study carried out by IT advisory firm Zinnov, almost 12% of product teams based out of Pune are involved in carrying out high value product development work, as compared to only 8% in Bangalore. The study surveyed 220 product teams across 30 Multinational and R&D firms in the country.
Pune can thus be seen as a pool of extensive economic activity, spread across trade, commerce and manufacturing. Sale and purchase of services is also a rampant trend here and the city’s proximity to the financial capital – Mumbai only adds to its entrepreneurial and industrial ecosystem.
The average earning is quite high in Pune as compared to other cities in India. Both saving and spending is continuously on the rise. Volume of transactions are also on a relentless rise. The future of Pune as a city of economic strength is in fact reasonably bright.
For purchasing or owning an agricultural land, a person or entity must have an agriculturist status. Under the Maharashtra Land Revenue Code, the Collector’s Office or the Sub Divisional Officer is authorised to change the status of land from Agricultural to Non-agricultural.
Non-agricultural land is divided into categories called zones. Land regulations governing the purpose for which land may be used and the extent to which construction is allowed, depend on the zones defined by the Town Planning Department. The Urban Development Department is authorised to change from one zone to another, as per the Regional Plan or Draft Plan.
PUNE DISTRICT
| Zone | FSI | Open Space Deduction | Amenity Space Deduction | Growth Coverage |
|---|---|---|---|---|
| Industrial | 1 | 10% | 15% | 50%of net plot area |
| Commercial | 1 | 10% | 15% | 50%of net plot area |
Land Options
1) MIDC (state industrial park)
-Lease (plot)
-Sub-lease (built up)
2) Freehold (private)
-Lease (built up) on non-agricultural land
-Buy (agricultural plot) Convert to non-agri convert to industrial zone
Manufacturing
– Home to the world’s 5th largest vaccine producer – Serum Institute of India
– Home to 15 MIDC Clusters and over 40 Cooperative Industrial Estates that support manufacturing companies across auto, pharma & chemical, food processing and consumer durables sectors
– Single largest hub for German companies over the last 6 decades. Between 2011 and 2012, approximately 225 German manufacturing companies set up businesses in Pune, with a combined investment of over EUR 650 Million. (Source: Indo-German Chamber of Commerce)
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