Pune is considered the cultural capital of Maharashtra. Pune is one of the fastest growing cities in the Asia-Pacific region. The ‘Mercer 2015 Quality of Living rankings’ evaluated local living conditions in more than 440 cities around the world where Pune ranked at 145, second in India after Hyderabad(138). It also highlights Pune among evolving business centers and emerging 9 cities around the world with citation "Hosts IT and automotive companies“.
Central Pune is the commercial heart of the city, with numerous corporate offices located in the central business district (CBD) areas of Bund Garden Road, M. G. Road, Deccan, Senapati Bapat Road and Shivajinagar. Good physical and social infrastructure, the presence of organised retail, excellent connectivity with various parts of the city and limited availability of vacant land have ensured that property prices are the highest in this part of the city. Koregaon Park, Dhole Patil Road, Model Colony and Kothrud are some of the principal residential areas in this zone.
North Pune is primarily an industrial area, with various automobile and auto ancillary as well as engineering industries located here. The twin towns of Pimpri and Chinchwad host the manufacturing units of some of India’s leading automobile companies, such as Bajaj Auto, Tata Motors, Force Motors and DaimlerChrysler. Engineering giants such as Thermax, Forbes-Marshall, ThyssenKrupp and Alfa Laval also have their manufacturing plants in this zone. North Pune has always been a self-sufficient region, with a flourishing residential market due to the employment generated by the manufacturing sector. Pimpri, Chinchwad, Nigdi and Moshi are some of the main residential areas here.
Over a period of time, South Pune emerged as a more affordable alternative to Central Pune in terms of the residential market. Those who would have preferred a home near the city centre but are unable to afford a house there settle in these locations. However, a key factor that has restricted the development of this zone is the lack of significant employment opportunities. Some of the chief residential areas in South Pune are Katraj, Kondhwa, NIBM Road and Warje.
The last ten years have seen East Pune evolve as a preferred residential zone due to the presence of a large number of IT/ITeS offices, ample physical and social infrastructure, a well-established retail market, the presence of the airport and the zone’s proximity to the city centre. The development of self- sustaining integrated township projects, such as Magarpatta City and Amanora Park Town, along with the immense employment opportunities offered by the various IT/ITeS parks, has boosted the residential market even further. Viman Nagar, Kharadi, Wagholi, Hadapsar and Dhanori are some of the prominent residential locations in East Pune.
Hinjewadi, in West Pune, has emerged as an alternative office hub for the IT/ ITeS sector over the last decade, and is currently presenting tough competition for the established office market of East Pune. Affordable rents and the availability of ample vacant land suitable for built-to- suit offices for captive use have attracted many blue chip companies to Hinjewadi as compared to East Pune. This has helped in establishing a robust residential market along the Mumbai-Pune Bypass Road. The residential destinations in West Pune include Aundh, Baner, Wakad, Hinjewadi, Bavdhan and Pashan.