Ravet property market: An overview

[ecis2016.org] Ravet is one of the rapidly developing suburban areas of Pune, which is located close to the industrial zones and the IT hubs of Pune. The area has good civic amenities and is very well-connected to the other parts of the greater city

Ravet is a premier residential area located in the western suburbs of Pune. It was a rural area till recent times. Nearby Ravet localities include many famous areas of the city of Pune such as Pimpri, Pimple Gurav, Bhosari, Sangvi and Chinchwad. All these localities along with a few other areas, form the urban agglomeration of Pimpri-Chinchwad. The varieties of projects available in the area are many and they range from affordable to luxurious. There are a lot of reputed builders like Pharande Spaces, Rohan Constructions and Sukhwani Group who are working with their different projects in Ravet. Some of the premier projects in Ravet include Pharande Celestial City, RK Lunkad Navratna and Rohan Silver Gardenia.

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Due to the advent of various IT majors and other multi-national companies (MNCs), the city of Pune has been witnessing a rapid growth in working population from outside. As a result, there has been a surge in the demand for residential apartments in Ravet, with it being one of the noted suburbs of Pune. Although the prices of flats in Ravet are going up, affordable housing for the needs of the mid and the junior-level executives of the various companies can still be found here.

Ravet has seen a lot of development in the last few years and the government is keen to develop the area as a modern town and thus, it has granted permissions to a number of projects in this area. The civic amenities have improved. The industrial growth and growth of the IT sector, have led to the development of the retail and hospitality sectors in the area.

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Connectivity with nearby Ravet localities

• There are a few major roads which run through the area, namely, the Wakad Road, the Mumbai-Pune Expressway, Kalewadi Main Road and Spine Road.
• The area has extensive bus services and the Chinchwad Bus Stand, Nigdi Bus Stand and the Pimpri Bus Stand lie in close vicinity.
• There is a railway station at Chinchwad from where the train services can be availed.
• It takes about an hour from Ravet to reach the airport in Pune.

 [ecis2016.org] Property rates & trends in Ravet, Pune

Employment hubs near Ravet

• Rajiv Gandhi InfoTech Park is located at a distance of approximately 11 kilometres from Ravet.
• DLF Akruti IT Park is located at a distance of approximately 13 kilometres.
• Panchshil Tech Park is approximately 8 kilometres
• International Tech Park is located approximately 11 kilometres away from the locality.

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Schools in Ravet and other social amenities

Ravet offers very good social infrastructure to its residents. Some of the reputed schools in Ravet include the Good Samaritan School, Wisdom World School and Mount Litera Zee School. Some of the leading hospitals in Ravet include the Ratna Memorial Hospital, Aditya Birla Memorial Hospital and Seth Ramdas Shah Memorial Hospital & Research Centre. The shopping needs of the residents are catered to by malls in Ravet such as the Ozone Mall, Jewel Square Mall and Laxmi Road.

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Price trends in Ravet

• Price appreciation- Around 20% in the last one year.
• Current property rates- Rs 4,587 –Rs 6,516 per sq ft.

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Reasons to invest in Ravet

Considering the price trends in Ravet and the rising demand, the locality has good investment potential. There is good appreciation of property rates. A number of projects being developed here. Moreover, the area is located very close to the IT/ITeS hub and industrial zones of Pune. The government has given its permission to many projects in Ravet and the scope of development of infrastructure facilities is also there. Considering all these factors Ravet is an excellent place for investment.

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Category: Lifestyle