According to a recent research carried out by Sigma One Universal and a published report conducted by a leading global real estate services firm, Pune with a population of 7.3 million and ranked as the 7th largest metropolis in India, stands as a thriving city in Maharashtra. Renowned for its ease of living and exceptional quality of life index of 129.26, Pune offers a conducive environment for residents and businesses alike. With a total retail space of 8.1 million sq.ft, Pune demonstrates its robust retail market, with only 6.60% vacancy, indicating a high demand for retail spaces. The decreasing retail space vacancy rates year on year further highlight the sustained demand and growth potential of the retail sector in the city, the research found. The Peth area, known for its historical significance, acts as a magnet, attracting customers not only from Pune but also from neighboring cities like Ahmednagar, Chatrapati Sambhaji Nagar, Nashik, Kolhapur, Lonavla etc.
Investors in the Pune Peth area market benefit from attractive rental yields, with the city area offering the highest rental yield of up to 6.8% compared to other markets. This makes Pune’s Peth area an enticing destination for those seeking lucrative investment opportunities.
The traditional Peth areas that are Kumthekar Road and Laxmi Road, both stretching approximately 1 km in length each, have over 500 bustling markets in the vicinity. The clothing brands have asserted their dominance in this bustling area, capturing a significant market share of over 75%. This remarkable achievement is closely followed by jewellery brands, which occupy approximately 15% of the market. It became evident that this location has tremendous potential, with a staggering daily footfall of approximately 1,80,000 on a daily basis during peak times.
This number itself is a testimony to the glory of the Peth area, which has been flourishing with many businesses for centuries. Even though Pune has seen tremendous growth in malls, shopping centers, big brand stores, etc., the Peth area still holds the charm to be the favorite shopping destination of Punekars. Located in the heart of Pune, the Peth area is easily accessible from any part of the city. Specifically, Kumthekar Road houses over 75% of clothing stores, making it one of the biggest and busiest shopping destinations in most of Maharashtra.
Situated at a prime location, Sigma One Bizbay, which is a flagship commercial project of Sigma One Universal, offers unparalleled advantages for retailers, entrepreneurs and enterprises looking to establish a strong presence in Pune. Its strategic positioning at Kumthekar Road ensures easy accessibility and high footfall, making it an ideal destination for businesses seeking growth and success.
Sigma One Bizbay is an 8-floor structure that embodies the perfect blend of functionality, aesthetics, and convenience. Sigma One Bizbay, a modern iconic retail structure in Pune’s oldest shopping destination is offering state-of-the-art specifications with multi-tier assisted parking and intelligent lighting systems for the facade.
“At Sigma One, we are thrilled to be a part of Pune’s oldest and busiest shopping destination. We have observed that people from different cities across Maharashtra flock to this vibrant retail hub to indulge in a delightful shopping experience. With a vision to provide the best to the city area and the iconic Peth area, we are committed to uplifting the retail experience and creating a space that exceeds expectations. Sigma One Bizbay is the result of our dedication to offering a transformative and enjoyable shopping destination that caters to the diverse needs of shoppers,” said Kapil Gandhi, Managing Director at Sigma One Universal on the launch of the project.
