US-based Re/Max India, a real estate brokerage company, on Saturday, announced its plans to enter Maharashtra and launch operations in the city. After the recent foray into Chennai, the Pune venture will be part of the firm’s expansion plans for establishing a strong footprint in the Indian real estate market, said a press release.

Pune has incorporated the fringe areas and is growing in a decentralised fashion. The city has become a commercial hub, for industries such as IT and ITeS, and automobiles, the release said.

The robust growth of the city has created a huge demand for quality residential and commercial developments. Pune needs around 40,000 residential properties every year. Samir Chopra, chairman and managing director, Re/Max India, said, "Residential real estate in Pune is set to create new benchmarks and considering this, we are planning to establish our franchisee here." The company will organise a brokers meet on June 29-30 at ‘Le Royce’, Bund Garden Road, to introduce its concept and work pattern.