PCNTDA Turned PCMC Into The Hottest Real Estate Destination In Maharashtra

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

There is little doubt in anyone’s mind that Pimpri Chinchwad is now Pune’s new hotbed for affordable residential property. In fact, the Pimpri Chinchwad Municipal Corporation is one’s of India’s most resounding real estate success stories. PCMC is a planned city, and its development profile has nothing in common with what is happening in the Pune Municipal Corporation limits.

Pune Property

Thanks to the unflagging efforts of the Pimpri Chinchwad New Township Development Authority (PCNTDA), PCMC is now a showcase of outstanding residential areas. The PCNTDA has been vigilant in defending this showcase sister city of Pune from the central city’s unregulated real estate development pattern. One of the hallmarks of this careful town planning is the availability of affordable township properties, which are the best examples of the masterfully planned social, economic and real estate development in Maharashtra.

Those who have never seen PCMC before are amazed at the futuristic look of this progressive city. When it comes to urban planning, the PCNTDA has gone several steps further than CIDCO of Navi Mumbai. Navi Mumbai was Maharashtra’s first planned city, and it certainly began on a good note. However, lack of vigilance by the town planning authorities there soon caused it to fall prey to commercialization. Charles Courier’s initial blueprint was son abandoned, and today Navi Mumbai has become just another extended suburb of unregulated Mumbai.

In Pimpri Chinchwad, however, the PCNTDA was determined to avoid the mistakes which caused the real estate market in Navi Mumbai to degenerate. The blueprint which was adopted was one of uncompromisingly regulated real estate growth, and organized urban planning was the constant watchword. Keeping its focus firmly on the long-term objectives of rational real estate development, the PCNTDA has managed to turn PCMC into a genuine city of the future.

Residents of township properties in PCMC have the unique advantage of owning homes which are near to their workplaces, yet affordable and blessed with green natural surroundings. They live high quality lifestyles and do not have to sacrifice their family’s health to the pollution which defines the inner city. On an average, township property owners is the PCMC spend upto 35% more time with their families than Pune residents, and have up to 40% more living space at the same cost.

The Pimpri Chinchwad Municipal Corporation is truly a prime example of social-minded real estate development. Only here will one find spacious properties at affordable prices, coupled with a modern and efficient transportation system. Only here can one find a multitude of employment opportunities, superior infrastructure and modern, yet very affordable homes close to one’s place of work. And only in the PCMC can one enjoy the benefits of carefully preserved natural splendour.

Thanks to the approach taken by the PCNTDA, the PCMC property market is today seen as the smartest option for residential property buyers from Pune and beyond. Yearly inward migration figures clearly indicate that this city is indeed growing rapidly. The year-on-year appreciation rates of residential property in the PCMC range between 15-20%, and this has also attracted property investors from all over Maharashtra.

Anil Pharande is Vice President of CREDAI Pune Metro and Chairman of Pharande  Spaces, a leading construction and development firm that develops township properties in the PCMC area of Pune, India.

Pimpri Chinchwad Leads Pune Property Market

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

With the formation of a well-planned satellite town adjoining an overcrowded city like Pune, the most obvious benefit is a possibility to de-congest the parent city. However, a more interesting fact is that real estate corridors such as the Pimpri Chinchwad Municipal Corporation actually have higher real estate appreciation potential than the central city. This is because they are growth areas where demand rises steadily and quality supply is still possible.
Pune PropertyIn such growth corridors, the greatest advantage to the property investor is the fact that the entry cost is relatively lower than in more centralized locations, even while the potential growth in real estate prices is much higher. Self-use buyers do factor in the property investment potential of satellite towns such as PCMC. However, what attracts them the most is its superior infrastructure, planned development and higher degree of natural ambience.
There are various cities in India with upcoming or established satellite towns.  Mumbai has Navi Mumbai as well as Kalyan/Dombivili and Vasai/Virar, while Delhi has Ghaziabad, Faridabad, Guragon and Greater Noida. In Bangalore, Yelahanka and Devanhalli are showing considerable promise, while Sriperumbadur and Siruseri in Chennai have proposed as satellite towns.
Kolkata has an established satellite town in Rajarhat, apart from Kalyani and Batanagar. However, the growth that each of these areas experiences or will experience depends entirely on the quality of infrastructure and the level of urban planning being implemented there. This is why investment in Pradhikaran properties and real estate in the other boom areas of PCMC is such a winning proposition.
The Pimpri Chinchwad Municipal Corporation and similar modern satellite towns have superior real estate appreciation potential for a variety of reasons. Just like everywhere else, Pune property rates respond primarily to the common denominator of demand and supply.
Residential real estate demand is created when an area has the right mix of employment opportunities, good infrastructure and the potential for an ambient, stress-free lifestyle. An additional prerequisite for demand is connectivity to the central city, without which residents in the satellite town would be, for most purposes, cut off from familiar areas and resources in the main city.
  • The Pimpri Chinchwad Municipal Corporation offers ample connectivity to Pune via road and rail
  • Its industrial and business zones generate countless jobs each year
  • Infrastructure in the PCMC area is vastly superior to what the central Pune infrastructure offers
  • The PCMC planning authorities have ensured that real estate development in this area adheres strictly to a pre-set urban planning model, thereby ensuring a high degree of living standards
  • Unlike central Pune, areas like Pradhikaran in PCMC offer modern yet affordable township properties. Township properties  are now widely recognized and accepted as the new residential property paradigm
The Pimpri Chinchwad Municipal Corporation is a showcase example of how a satellite town can surpass the parent city in terms of property investment potential as well as residential lifestyle quotient.
Little wonder, then, that properties in Pimpri Chinchwad are in ever-increasing demand by Pune property buyers. After all, PCMC remains a meticulously masterminded property investment destination that generates its own economic growth and social infrastructure. In PCMC, the commercial, retail and residential property markets work symbiotically to create a winning proposition for both real estate investors and end users from Pune and beyond.
Anil Pharande is Vice President of CREDAI Pune Metro and Chairman of Pharande  Spaces, a leading construction and development firm that develops township properties in the PCMC area of Pune, India.