Named after Pune’s great Maratha Warrior, Chhatrapati Sambhaji Raje, Pune’s upcoming International Airport is expected to be operational by 2019. Spread over 2,400 hectares, the proposed airport will be in Purandar, Pune District. Transportation services such as airports, railway stations, metro connectivity have played a major role in boosting the real estate economy. Post announcement of the new international airport, Pune’s real estate sector is predicted to experience a surge in real estate demand in commercial as well as residential properties.
Pune’s proposed international airport will have a multiplier effect. It will increase Pune’s possibility as a business destination which will lead to many domestic and international companies to set up their operations or expand their existing operations. This will generate more employment in the surrounding area creating high demand for residential properties. Maharashtra’s Chief Minister Devendra Fadnavis has announced many infrastructure developments in the surrounding area such as special ring roads, hotels, and other commercial projects.
Pune’s corporate sector will witness a major boost after construction as this airport will aid in diverting excessive air traffic from Lohegaon Airport and open ways for international business prospects. Land parcels in the adjoining areas have already attracted top developers. Investors are also interested in parking their money in the location as the area yields high returns in future. Investors are also interested in the area as it seems to give a good rental income.
The area has carried the image of ‘industrial area’ which has resulted in the budget housing for the residents. With this international airport, the area will witness high demand for larger, better, and well-planned residential communities and complexes.
This major infrastructure development will enhance Pune real estate as more real estate properties will be developed and attract buyers both within and outside the country. This will establish Pune as one of the leading business centers in the country.