Can i-phone Maker ‘Foxconn’ Push Talegaon as Hot Property Destination in Pune?
‘Foxconn’, Taiwan based World’s Largest electronics manufacturer, key supplier to Apple Inc. i-phone and Blackberry signed a Memorandum of Understanding (MoU) on last Saturday with Maharashtra state to invest around $5 billions over five years in a new manufacturing facility in Maharashtra. For setting up a manufacturing unit in the state, government has allotted 1,500 acres of land for the new facility at Talegoan Dabhade (MIDC) in Pune district that will create that will create 50,000 new jobs. Will this contract make an impact on Talegaon Realty Market and make Talegaon as hot property destination in Pune???
Foxconn choose Talegaon…But Why ???:
Talegaon is a location which belt in three cities- Pune, Mumbai and Nashik. Talegaon’s proximity to financial capital of state, Mumbai via the Mumbai-Pune expressway gives Talegaon a major advantage. Also, Talegaon is favorably located 30mins away from Hinjewadi, a Major IT Hub, where around 60000 IT professionals are expected to work. As a result, many companies have raid down to invest in Talegaon. The industrial belt of Chakan (Chakan MIDC) and the automobile manufacturing hub are the main drivers of employment in Talegaon.
A biggest single Foreign Direct Investment (FDI) :
As per reports, The biggest foreign investment proposal in India so far has been South Korean steelmaker Posco’s over $ 12 billion commitment for a plant in Odisha, which was grounded in the face of protests by environmentalists and local people during the term of the previous UPA government. But now in a race Foxconn is on the top in list in a decade.
This has been the second MoU signed by the Maharashtra state in last two weeks, after the MoU signed with the General Motors for the investment of Rs 6400 crore for the expansion of its manufacturing unit in Pune.
Generate an Employment in locality:
A signed MoU of Foxconn investment of Rs 35,000 crore will generate jobs for 50,000 people in state. Talegaon, where the new facility is planned and promoted by the Maharashtra Industrial Development Corporation(MIDC), and houses several other industrial units. Foxconn wants to use a young talent that having in this state to go to their factories in Taiwan and China to study, work and then come back and work here in the state. Employees will have seen how the hi-tech industry works in other countries, how the design and manufacturing works. It can be a one-year or two-year program. This is how the technology transfer will work.
Attracting more Similar Investments:
As obvious, this deal with Maharashtra state will attracts many more big Inc and multinational organizations to come up and invest in locality like Talegaon. It will encourage not only small scale industries but young entrepreneurs can get an inspiration to put step ahead for investment.
Another achievement of Talegaon in this year, global car maker General Motors earlier announced plans to shut its plant in Halol, Gujarat, and shift focus to Talegaon in Pune district.
Foxconn deal can force to mumbaikars to come down to Pune to make a money as it is located in Talegaon which is on Mumbai-Pune expressway around 2hr away from Talegaon. Compared to Mumbai, Pune boasts of a hill station like climate not only for working purpose but to settle down in locality like Talegaon. Signed MoU will consider around and more than 50000 job opportunities for professionals and non professionals in and around Pune and Mumbai.
Encouragement in Infrastructural Dev development in Locality:
The infrastructure of Talegaon is undergoing solid changes. Residential societies are creating demand for basic facilities like schools and hospitals. Over the next few years, the availability of malls, schools and hospitals will increase significantly.
By this investment and many more similar investment will definitely encourage people to come down in Talegaon which leads to development infrastructural facilities much more.
Result, Boost in Realty market in Talegaon:
By taking into consideration this all above impact of Foxconn investment in Talegaon, surely Talegaon realty market will boost tremendously. Investment by companies like Foxconn has created a large employment base for the citizens and as a result they have flocked to Talegaon. As result, demand of property will automatically increase in locality which leads to increase property rates, rate of appreciation and rental yield.
Now, Talegoan becoming a most demanding and hot property location in Pune. In next Five years, it will reach at top in chart of Pune property market. Start investing in property in locality like Talegaon before it reach its saturation point.