TWIN PROGRESS
Pimpri-Chinchwad remains a noteworthy model of planned development, says NISHA SHROFF
The city of Pune has grown extensively over the last few years with peripheral areas getting prominence. The areas, which were considered far away for residential and commercial projects, are now dominating the real estate chart and industrial area of Pune. The boundaries of the city are widening with places like Pimpri-Chinchwad getting a makeover.Pimpri-Chinchwad has become a masterpiece of sorts in terms of urban development. Today, it boasts of impeccable infrastructure and public amenities, including multi-lane roads, strategically located flyovers, public parks and urban forestation, residential property zones, including MIG and LIG housing on a public-private partnership basis, ample portable water supply and a comprehensive drainage network. Naturally, prominent developers such as Pharande Spaces and Mahindra Lifespaces have snapped up prime land exclusively for building projects in the PCMC (Pimpri Chinchwad Municipal Corporation).
Infrastructure in Pimpri-Chinchwad is comparatively superior to what Central Pune offers. Since it is still developing, a lot of new infrastructure facilities are being developed. This is one of the prime influencers for property appreciation. The area is governed by a common municipal body, the PCMC. Sanjay Bajaj, Managing Director, Jones Lang LaSalle India, says, "PCMC is a city which is still evolving, and the evolution process will take time as it covers a fairly large area. Existing civic and social infrastructure varies according to the individual dynamics of each micro-market. By and large, provision of social infrastructure is very good and is increasing with every quarter."
Pimpri-Chinchwad is a noteworthy model of planned development. The area's economy revolves around the numerous industrial entities present in the area and the demand for real estate which these workplace hubs generate. As a residential area, PCMC is advantageous for buyers and it is growing at the fastest pace. Anil Pharande, Chairman, Pharande Spaces, says, "The real estate development in Pimpri-Chinchwad is tightly regulated. There is abundant green cover and most of the residential projects now coming up here offer unobstructed view of distant hills, while traffic is just a dim, far-off echo from the express highway. The environment is absolutely perfect for residential family units. We have a number of township projects in Pimpri-Chinchwad, including Woodsville in Moshi, Celestial City in Ravet and L-axis on Spine Road."
"Property rates in Pimpri-Chinchwad vary according to micro-markets. The general range for mid-income housing is between Rs 3,500-4,500 per sq.ft," adds Pharande.
In addition, Pimpri-Chinchwad has seen significant capital appreciation in real estate sectors including the appreciation of rental income in the last few years. Smeeta Neogi, Vice-President - Marketing, Mahindra Lifespace Developers Ltd, says, "Antheia by Mahindra Lifespaces offers well designed spacious homes at Pimpri Pune. Homes that are surrounded by nature with schools, hospitals, shopping and all the conveniences that a family needs in proximity."
She adds, "It is spread over 16 acres, Antheia is a low-density project with a choice of 1, 2, 2.5 and 3 BHK apartments offering a host of amenities." The region has, therefore, become an attractive proposition for investors given the lower investment cost.
Road and rail connectivity in Pimpri-Chinchwad is good and expanding rapidly. The area has the advantage of being well connected to Pune as well as Mumbai. The proximity to the Pune airport and station has also made the region an attractive destination.
Says a Pimpri-Chinchwad resident Ravindra Marda, "Yashwantrao Chavan hospital is the nearest hospital at present which has met the needs of the patients. With the opening up of
new and nifty eating joints
and grocery stores along the stretch, it has helped the residents in finding a comfort zone."
In terms of education, there are colleges like D Y Patil College of Engineering and S B Patil College of Management among others that are very well known in the area.
The growth of the area will be fuelled by several factors in the coming years. On one hand, there will be a huge requirement for homes from the rapidly growing manufacturing sectors of Pimpri-Chinchwad and the Chakan-Talegaon belt. Chakan itself, though a burgeoning industrial hub, has little to offer by ways of residential facilities. The onus naturally falls on PCMC, which will necessarily be the residential location of choice for the entrepreneurs and employees of these units.
QUICK
BYTES
PIMPRICHINCHWAD BOASTS OF IMPECCABLE INFRASTRUCTURE, PUBLIC PARKS AND RESIDENTIAL PROPERTY ZONES
THERE IS ABUNDANT GREEN COVER AND MOST OF THE RESIDENTIAL PROJECTS COMING UP OFFER UNOBSTRUCTED VIEW OF DISTANT HILLS
| Publication: The Times Of India Pune; | Date: Nov 17, 2012; | Section: Times Property; | Page: 32 |
Link to epaper : click here
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