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The early eighties saw a huge exodus
of intelligentsia going outside the country to try their luck and earn
"dollars". Now the trend seems to reversing with many of them coming back as
they find India a better location to continue their work, And Pune is one of
the hotspots in the country as many Information Technologies companies spread
far and wide on the global are making Pune their hub.
No doubt, Bangalore for most companies might seem the first choice, Pune has
caught up with them quit fast, literally. And it has even given a good running
for the other locations that are fast catching up, including Hyderabad, Chennai
and Gurgaon.
So would it seems surprising if one says that around 16 million sq of IT-Its
space is under construction in Pune. Demand of IT-ITES contributes to about 85
percent of the total demand has far exceeded supply for ready built, plug and
play quality office space in the city And these are not all as Pune has the
highest PC penetration ration amongst Indian cities 26.2 percent. It can also
boat of a highly developed educational system which provides a large pool of
skilled workforce, the main requirement of the IT companies. And not only that
it also supplies the workforce which is domain specific and quality people.
Pune begins "The Oxford of the East" has no dearth of a talent pool either. The
city churns out 80,000 engineering graduates each year. There are specialized
education institutes here and a large base of scientists working on research
and development.
Accounting to Mr. Ravi Pandit, Vice President, Mahatra Chamber of Commerce,
Industries and Agriculture (MCCIA), The coalescing of the IT giants along with
good quality IT infrastructure in Pune has given a turbo-thrust to the exports
from the city. Under the guidelines of the Pune IT Vision document prepared by
MCCIA in 1998 the software Technology park of India (STPI) was set up in Pune
with the help of MIDC The IT Parks at Hinjewadi Kharadi and Talewadi, which
have been set up with world-class IT infrastructure have become preferred
destination for the IT companies, Mr. Pandit said. Realizing the latent growth
of the IT sector in Pune, dozen of private players like Magarpatta City,
International Convention Centre, Vascon Park, Kumar IT Park and Sofotel Park
have also come of in and around Pune.
The billion dollar milestone has a great significance for the city. it has
clearly demonstrated that the silent endeavor of the Mahratta Chamber along
with other important institutions like the STPI, PMC and PCMC have finally paid
off. With many of the top companies choosing, it shows that Pune has been
firmly placed on the IT map of India. I take this opportunity to compliment the
innumerable people who have made this happen and I reiterate the Chambers
commitment to making Pune the Software capital of Asia within this decade, Mr.
Pandit Said.
Mr. Deepak shikarpur, Chairman of the IT committee of MCCIA, added, "What Pune
can do has been established today, but it is only the beginning." If the city
gets the backing of the political of the city. The city has over 50,000
professionals working currently and I can see the city attracting the best of
IT talent very soon. I see the growth of IT in the City directly contributing
growth of Pune."
And look at the real estate development. Infosys which held just 25 acres till
2003, acquired 100 acres of land during the second phase of its Infotech park
in Pune. "It plans to invest Rs. 250 crores in the next few years and house an
additional 5,000 professionals," says their spokesperson.
The software industry's expansion plane have triggered a real estate boom in
the city. real estate is very affordable. Facility rentals are, in places, as
Rs. 5 to Rs. 50 per sq. feet. Considering the boom, commercial space prices are
likely to plummet. Builders are rushing to take advantage of the 2 FSI granted
for the IT sector in Pune. Pune's IT parks at Hinjewadi, Kharadi, Talewadi and
Magarpatta City boast world class infrastructure. And a slew of ther IT parks
has been sanctioned this year an impressive eight lakh sq. feet International
convention Centre; weikfield IT City Park totaling 1.2 million sq. feet; a two
million sq. Kumar IT Park; a million sq. feet IT park n DSK Vishwa township.
these expansion plans imply that in the next couple of years, an additional 10
million sq feet will be readied.
Toiday there are 1,80,000 people employed with IT and BPO firms in pune. Going
by the expansion plans, the figure could rise by almost a lakh this year.
Although attracting maximum investments, most of the Tier I cities have reached
a saturation point in terms of infrastructure such as power, road and airports.
the paucity of skilled and qualified IT professionals is also posting a serious
impediment. Traffic congestion, escalating transport costs and a high cost of
living are causes for concern too.
So why Pune., you might ask. Well the city offers advantage of both, a small
and big city. Smaller distances ensure that logistics can be managed easily.
Commuting times are financial capital of the Country. The express highway has
ensured reduced traveling time between the two cities. the clearance of an
international airport in Pune means it'll soon be directly connected wit the
world.
Pune has undergone a metamorphosis from a city of decrepit wads (ancient house
from the Peshwa era) to a city of suave IT parks. It boasts of a high standard
of living. And yet the cost ofliving here is nearly 40 per cent lower that a
city like Mumbai. There's a new cosmopolitan culture here. A mail and multiplex
culture. A lifestyle to celebrate. There's the Kentucky of a sumptaloons. And
Gold Adlabs. All emblematic of a sumptuousness in a city that had earlier
earned itself the sobriquet, "Pensioner's Paradise" for its sedate pace of life
and simple lifestyle. it's slowly emerging as a city of dreams. A city where
the bourgeois is given the prospect of a very good life, at an affordable
price.
Pune should capitalize on the fact that Bangalore and other Tier I cities have
reached saturation point. just fathom this: "In Bangalore, it used to take 10
minutes to travel from the Taj Hotel to the Airport, 10 years ago. Now it takes
one hour and 10 minutes. But I also fear that Pune might slip too, just like
Bangalore," he says. "Infrastructure must be a priority for the Government of
Maharashtra to maintain the thrust of IT exports out of pune. We should
merge Pune, Mumbai and Navi Mumbai becouse of the combined entity, 'Pumbai', as
I suggest, could stand up much better against Bangalore. Pune not being the
State's capital has its own drawbacks. the city should have its own guardian IT
Minister from the government to take care of the infrastructure problems. We
need a 24-hour airport here. If infrastructure issues like road, transport and
power are taken care of, nothing can stop Pune from being the 'Hannover of
Asia'. "
Despite all its problem. Pune Still poses stiff competition to all other Tier I
cities. According to NASSCOM, Pune is numero uno in terms of growth percentage.
It has witnessed a near 40 per cent growth this year, when the industry average
is just about 30 per cent to 35 per cent.
Pune's story of technology achievement is a beacon for several other small Tier
II and Tier III cities in the country. It's an inspiration for them to expand
and grow. To spearhead another technology revolution in the country. Now after
IT, ITES and the BPO revolution, Knowledge Process Outsourcing (KPO) is begin
touted as the next big thing to hit India. With its immense talent pool, Pune
is also poised to be the next KPO hub of india. Now just wait till that happens
in Pune.
The changing lifestyle of Pune citizens are being reflected in the housing
industry, with developers increasingly wooing this new up market clientele with
swimming pools, gymnasiums, green space and jogging tracks, among other
things. Financial institution are also offering housing loans at Low interest
rates. Pune has the advantages of the ideal geographical location, a cultural
background, good infrastructure and huge investment opportunities. All these
factors are attracting developers and buyers.
Pune has been witnessing very rapid growth since the
last few years. The demand for residential units has been largely driven by the
services and the I.T / ITES sectors. the state of the art facilities on offer
and the easy access to educated manpower give the city edge.
Thanks to the improving infrastructure and the Expressway, this in a way has
opened a new avenue for the hotel industry to grow tremendously here! It is an
IT and educational base of Maharashtra. the connectivity to Mumbai makes it a
preferred place for buyers. a large number of corporate are moving to Pune
creating more job opportunities and making Pune a Preferred destination.
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