PCNTDA: The Real Estate Catalyst For Pimpri Chinchwad

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Pradhikaran is now a fertile Pune real estate Mecca

The Pimpri Chinchwad New Township Development Authority (PCNTDA), popularly known as Pradhikaran, has been a major catalyst in the planned development of Pune’s burgeoning PCMC area, transforming this once exclusively industrial zone into one of the hottest destinations for those buying property in Pune – and indeed in the country.

Over the last three decades several thousand acres of land have been acquired, developed, zoned, brought into the jurisdiction of the Pimpri Chinchwad Municipal Corporation (PCMC) and PCNTDA and made available for residential and commercial purposes. The result has bee a paradigm shift in how the real estate market sees properties for sale in Pune. It can safely be stated that, in terms of the Pune property market, the Pimpri Chinchwad map will never look the same again.

Under the leadership of capable and committed IAS officers, the development of this fertile Pune real estate Mecca spans the entire gamut of activities. These include multi–lanes roads (including the Spine Road), strategically located fly-overs, public parks and urban forestation, residential zones including MIG and LIG Housing on a public private partnership basis, ample potable water supply and a comprehensive drainage network.

Simultaneously, other service sectors have also grown rapidly, particularly schools and colleges. There are now over 25 colleges in Pimpri Chinchwad, offering graduate and post-graduate education in virtually every discipline – healthcare, retail, entertainment, banking and financial services and public transport.

The International Convention Center

These developments have attracted some of the world’s largest companies from the automobile, IT and engineering sectors. It will also become the home of one of India’s largest International Convention Centers (on a 200-acre plot at Moshi, just off the Pune-Nashik Highway.) The governing authorities’ vision for the ICC includes the intention of holding the international auto exhibition that will take place in India in 2012 there. Accordingly, a hall admeasuring 100,000 square feet is being developed – this hall will equal (if not rival) similar exhibition hubs in Munich, Shanghai and other major metros around the world.

Cutting-edge residential complexes

Leading builder-developers from the Pune property market have been quick to spot the opportunity to create ultra-modern residential complexes in this region. These complexes are being designed and executed to meet the lifestyle expectations of the cultured and cosmopolitan middle class. Another market driver is the fact that Pimpri Chinchwad now offers diverse career and business opportunities.

Woodsville, the latest project by Pharande Spaces, is a prime example of the integrated town concept increasingly coming into vogue. Situated just diagonally across the ICC, Woodsville offers a wide choice of spacious two and three bedroom apartments and an array of amenities: shopping mall, multiplex, club and sports complex, school, hospital, hotel and wedding reception hall. Profuse tree plantation, play parks and podium lawns create a serene, healthy environment.

Avinash Gokhale is Director – Marketing & Corporate Planning, Pharande Spaces – a leading construction and development firm operating in the PCMC area of Pune, India.

Pune Real Estate In Demand

pharande spaces logoUnlike other major cities like Mumbai, Delhi, Chennai and Bengaluru, real estate demand in Ahmedabad and Pune is higher in investment segments, said a real estate survey released by ICICI Securities, the largest integrated securities firm.

The survey was conducted across eight Indian cities including Mumbai, Delhi/NCR, Bengaluru, Chennai, Kolkata, Ahmedabad, Hyderabad and Pune among 2697 online, 6767 offline buyer respondents as well as 57 property consultants.

Read the rest of the article Ahmedabad, Pune realty demand high in investor segment: I-Sec survey here.