Lifestyle

Chakan property market: An overview

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

Chakan is a residential area located in the western suburbs of Pune. It was a rural area till recent times but now, it is a part of the wider PCMC residential area.

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While agriculture remains the mainstay of the people here, there is rapid industrialisation which in turn, has led to urbanisation of the locality. It is now one of the biggest automobile hubs of Pune. Nearby Chakan localities include many famous areas of the city of Pune such as Pimpri, Chinchwad, Pimple Gurav, Bhosari and Sangvi. All these localities along with a few other areas form the urban agglomeration of Pimpri Chinchwad Municipal Corporation. There are a variety of projects available in this area and this range from affordable to luxurious.

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There are a lot of reputed builders like the Ivory Group, Shri Sai Associates and Xrbia who are working on their different projects in Chakan. Some of the premier projects in Chakan include Xrbia Eiffel City, Swapna Nagari and Ivory Tathastu.

Due to the various IT majors and other multinational companies (MNCs) who have set up their base in Pune, the city has been witnessing a rapid growth in influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Chakan with it being one of the noted suburbs of Pune. Even though the prices of the flats in Chakan are rising, affordable housing for the mid and the junior-level executives of the various companies can still be found here.

Chakan has seen a lot of development in the last few years and the government is keen to develop the area as a modern town. Hence, it has given permission to a number of projects for the area. The civic amenities have also improved. The industrial growth and the growth of the IT sector have led to the development of retail and hospitality sectors in the area.

Connectivity with nearby Chakan localities

  • There are a few major roads which run through the area namely The Talegaon-Chakan Road, The Pune-Nashik Road and The Chakan-Shikrapur Road.
  • The area has extensive bus services and the Pimpri Bus Stand, Bhosari Bus Depot and the Pune Bus Stand lie in close vicinity.
  • There is a railway station at Pimpri from which the railway services can be availed.
  • It takes about an hour and 10 minutes from Chakan to reach the airport in Pune.

Employment hubs near Chakan

  • Pimpri Chinchwad Bhosari industrial area is located at a distance of approximately 15 kilometres from the locality of Chakan.
  • Chakan Industrial area is located at a distance of approximately 2-3 kilometres.
  • Pradhikaran Industrial Zone is approximately 22 kilometres away.
  • Khed City is located approximately 25 kilometres away from the locality.

Schools in Chakan and other social amenities

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Chakan offers very good social infrastructure to its residents. Some of the reputed schools in Chakan include the Vidya Valley International School, PK International School and AMS School. Some of the leading hospitals in Chakan include the Anand Hospital, Core Hospital, and Chakan Criticare Hospital. The shopping needs of the residents are catered to by malls in Chakan such as the Aishwarya Icon Mall and Vedant Sankul.

  • Price appreciation- Around 20% in the last one year.
  • Current property rates- Rs 2,768 –Rs 4,205 per sq ft.

Reasons to invest in Chakan

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

Check properties in Chakan

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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