[ecis2016.org] Chandan Nagar, located very close to the industrial zones and IT hubs, is one of the rapidly developing suburban areas in Pune. The area has good civic amenities and is very well-connected to other parts of the city
Chandan Nagar is a premier residential area, located in the eastern suburbs of Pune, which lies very close to the airport.
You are reading: Chandan Nagar property market: An overview
The area was a village until the 1970s-80s and agriculture was the mainstay. Later, industrialisation and modernisation led to urbanisation and the locality saw a huge development. The locality has also got a number of tourist spots.
Nearby Chandan Nagar localities include many famous areas of the city such as Kalyani Nagar, Yerwada, Vishrantwadi, Viman Nagar, etc. A variety of projects are available in the area and range from affordable to luxurious.
There are a lot of reputed builders like the Vascon, Lunkad and Clover who are working on their different projects in Chandan Nagar. Some of the premier projects in Chandan Nagar include Lunkad Sky Vie, Rohan Mithila, Lunkad Zodiac, etc.
Due to the advent of various IT majors and other multi-national corporations, Pune has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Chandan Nagar, being one of the noted suburbs of Pune. Although prices of the flats in Chandan Nagar are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.
The civic amenities have also improved here. The industrial and IT sector growth have led to the development of retail and hospitality sector as well.
Connectivity with nearby Chandan Nagar localities
- There are a few major roads which run through the area, i.e., Sant Jnaneshwar Marg, Nagar Road, Mundhwa Road, etc.
- The area has an extensive bus service and the Chandan Nagar Bus Stand and Shivaji Nagar Bus Stand lie in close vicinity.
- There is a railway station at Shivaji Nagar. Also, the Khadki railway station is approximately about 10-11 kilometres away from Chandan Nagar.
- It takes about 5 minutes from Chandan Nagar to reach the airport.
Employment hubs near Chandan Nagar
- Phursungi IT Park, Magarpatta City and Amanora Parktown are located about 7-8 kilometres from the locality of Chandan Nagar.
- The ICC towers and Maratha Chambers of Commerce and Industry are located at a distance of 14-15 kilometres.
- RMZ Westend is approximately 17 kilometres away.
- World Trade Centre, Cerebrum IT Park and EON IT Park are located approximately 5-6 kilometres away from the region.
Chandan Nagar offers very good social infrastructure to its residents. Some of the reputed schools in Chandan Nagar include the Symbiosis International School, Lexicon International School, Bishops School, etc. Some of the leading hospitals in Chandan Nagar include the Columbia Asia Hospital, Shree Hospital, Sanjeevani Nursing Home, etc. The shopping needs of the residents are catered by malls in Chandan Nagar such as the Phoenix Market City, Inorbit Mall Pune, Lunkad Skymax Mall, etc.
Price trends in Chandan Nagar
- Price appreciation—Around 15% in the last one year.
- Current property rates—Rs 4,503-Rs 9,641 per sq ft.
Reasons to invest in Chandan Nagar
Considering the price trends in Chandan Nagar and the rising demand, the locality is touted to become a good investment region in future. There are chances of good appreciation of property rates, with a number of projects being developed here. Moreover, Chandan Nagar itself being an IT/ITES hub and industrial zone of Pune, the demand for property here will only move northward. What more? The government is also planning to develop the region further, so the scope of development of infrastructure facilities is also there. Considering all these factors, Chandan Nagar can be an excellent place for investment.
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