In the last 15 years Pune experienced a growth boom, particularly due to the robust automotive, IT and manufacturing sectors, and emerged as one of India’s most promising investment destinations for residential properties. Its proximity and connectivity with India’s financial capital Mumbai was the icing on the cake.
But as it happens with all development stories, a certain saturation set in in terms of infrastructure upgradation to meet the rising population’s demands. Central Pune truly has no more space for newer development and PMC (Pune Municipal Corporation) is struggling to meet urgent requirements of providing good roads, public transport, electricity and water to the citizens. The pace of development is unable to meet the requirements of a bursting city adequately.
In this scenario the neighboring satellite towns of Pimpri Chinchwad, or PCMC as they are popularly called, are proving to be a huge draw with home buyers. Situated in the North – West quadrant of Pune and at a convenient distance of just 15 kms, the twin cities of Pimpri Chinchwad have a thriving industrial belt comprising mostly of manufacturing and automobile companies. In fact, Pimpri-Chinchwad has contributed a lot to the fact that Pune is the second-largest industrial city in Maharashtra after Mumbai and has played a big role in its growth story.
Of course, not just the industrial belt there are other reasons as well why PCMC is showing outstanding growth as residential hub.
- New launches & Affordable housing:
Pimpri- Chinchwad has witnessed a high number of new launches of residential units in the last two years with nearly 70 percent of those launches being in the affordable housing category with residential properties priced at under 50 lakhs. Areas such as Ravet, Talegaon, Moshi and Akurdi within PCMC limits offer affordable and low cost housing for all categories of people. Attractive pricing in addition to good infrastructure, location & connectivity make buying a home in Pimpri Chinchwad a worthwhile prospect.
- Good connectivity & close proximity to Mumbai Pune development belt:
Pimpri Chinchwad is situated on the confluence of NH-4 (the Mumbai-Bangalore highway) and NH-50 (the Pune-Nasik highway). Arterial roads like Mumbai-Pune Expressway, Kalewadi Main Road and Spine Road provide direct link to other parts of Pune city.
Railway connectivity plays an important role in driving the economic growth of a city. Pimpri Chinchwad is located on the Mumbai-Pune mail railway line and has broad-gauge, direct connectivity to Mumbai, Bangalore, Chennai and Hyderabad. In addition, the Pune airport is situated just 20 kms from Pimpri Chinchwad twin cities.
- Employment opportunities:
Pimpri Chinchwad’s advantage is being a prominent automobile hub of Western India. The presence of many prominent IT companies, located at an easy distance of 15 kms in technology parks such as Rajiv Gandhi InfoTech Park, DLF Akruti IT Park, Panchshil Tech Park and International Tech Park, make it an ideal location for a skilled work force. Also, close proximity to Hinjewadi has made areas like Wakad, Pimple Nilakh and Pimple Saudagar a perfect option for senior management professionals.
- Good standard of living:
Over the years, Pimpri & Chinchwad have evolved into bustling modern towns with well-developed social and civic infrastructure and amenities. Good educational institutions, hospitals, retail shopping malls & complexes, hotels, banks, BRTS public transport, upcoming metro connectivity all combine to make PCMC a flourishing residential destination.
- Rental appreciation:
With PCMC developing into a much in demand residential property hub, the real estate prices in the area have shown a marked increase. With a rise in home prices the rents have also seen good appreciation with experts saying that the rental price escalation is almost 50 % over past 5 years with areas such as Wakad, Pimple Saudagar, Spine Road and Pradhikaran witnessing the highest rental appreciation. Ravet, Moshi, Chovisawadi and Dudhulgoan are areas that are expected to get a good rental appreciation in the coming years. According to data the highest demand for rental properties is for studio apartments and 1 and 2 BHK flats, especially from working professional who migrate from outside.
- Great ROI:
Pimpri Chinchwad boasts of being located conveniently close to the Mumbai Pune growth corridors and that has had a terrific impact on attracting home buyers not only from Pune but also from Mumbai and other cities. This demand has seen a price hike of more than 10-12 % which means a great ROI on real estate investment. Good development, sound infrastructure, employment options, availability of affordable housing all have combined to make Pimpri Chinchwad a hot real estate destination for home buyers.
So for all those interested home buyers looking to buy property in the hot destination of Pimpri Chinchwad, look no further than L-axis from Pharande Spaces. L-axis is Pimpri – Chinchwad’s most premium home destination set amidst 11 acres of verdant green spaces and offers 3 BHK and 2 BHK luxury flats in Spine Road Pune for sale.
A project that provides world class amenities and top notch specifications all ideally situated within an easy commute to prime locations, IT parks, and industrial belts. To find out more please visit the website.