Lifestyle

Pimpri Chinchwad property market: An overview

[ecis2016.org] Pimpri Chinchwad is one of the rapidly developing suburban areas of Pune and is located very 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 of Pune

Pimpri Chinchwad is a premier residential area located in the western suburbs of Pune. It was a rural area till recent times. The area houses a number of commercial and industrial zones. Nearby Pimpri Chinchwad 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. The varieties of projects available in this area are many and they range from affordable to luxurious. There are a lot of reputed builders like BU Bhandari Landmarks, Mahindra Lifespaces and Sukhwani Group who are working with their different projects in Pimpri Chinchwad. Some of the premier projects in Pimpri Chinchwad include Mahindra Lifespaces The Woods, Sukhwani Udyan and Kalpataru Harmony.

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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 influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Pimpri Chinchwad, with it being one of the noted suburbs of Pune. Although the prices of the flats in Pimpri Chinchwad are going up, affordable housing to suit the needs of the mid and the junior-level executives of the various companies can still be found here.

Pimpri Chinchwad 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 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 Pimpri Chinchwad 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 Pimpri Chinchwad Bus Stand and the Shivaji Nagar Bus Stand lie in close vicinity.
  • There are railway stations at Pimpri and Chinchwad from where the railway services can be availed.
  • It takes about 40 minutes from Pimpri Chinchwad to reach the airport in Pune.

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Employment hubs near Pimpri Chinchwad

  • Rajiv Gandhi InfoTech Park is located at a distance of approximately 10 kilometres from Pimpri Chinchwad.
  • DLF Akruti IT Park is located at a distance of approximately 15 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 Pimpri Chinchwad and other social amenities

Pimpri Chinchwad offers very good social infrastructure to its residents. Some of the reputed schools in Pimpri Chinchwad include the Good Samaritan School, Wisdom World School and Mount Litera Zee School. Some of the leading hospitals in Pimpri Chinchwad 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 Pimpri Chinchwad such as the Ozone Mall, Jewel Square Mall and Laxmi Road.

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  • Price appreciation- Around 22% in the last one year.
  • Current property rates- Rs 4,974 –Rs 7,369 per sq ft.

Read also : NRI investment in real estate: Flexible policies are the need of the hour

Read also : Digitisation of land records: Benefits for property owners and the sector

 

Reasons to invest in Pimpri Chinchwad

Considering the price trends in Pimpri Chinchwad and the rising demand, the locality would prove to be a good investment. There is excellent appreciation of property rates, here, with a number of projects being developed. Moreover, the area is also located very close to the IT/ITeS hub and industrial zones of Pune. The government has granted permission to many projects in Pimpri Chinchwad. So, the scope of development of infrastructure facilities is also exists. Considering all these factors, Pimpri Chinchwad is an excellent place for investment.

Check properties in Pimpri Chinchwad

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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