Ravet: PCNTDA Delivers The Ultimate Real Estate Investment Destination

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With many tempting locations featuring properties for sale in Pune, what does it take to make a new one stand out? Aundh, Wakad, Baner, Pimple Nilakh, Pimple Saudagar and similar areas have had their heyday.

Now, it is the turn of Ravet, which lies on the North-West side of Pimpri Chinchwad Municipal Corporation and Pune. This location is set to become the new paradigm of investment property in Pune. Various significant real estate market drivers have combined to make Ravet the most promising destinations for Pune residential property.

Superior Location

With its development masterminded by the Pradhikaran-Pimpri Chinchwad New Township Development Authority (PCNTDA), Ravet enjoys the benefit of an extremely strategic location on the Pimpri Chinchwad map. It is, in fact, the first town that appears on leaving the Mumbai-Pune Expressway.

This has resulted in it becoming known as the Gateway to Pune; but that is not all there is to it. Ravet is a junction of the old NH4, the Katraj-Dehu Road bypass and the Mumbai-Pune Expressway and is placed advantageously close to the Hinjewadi IT hub and Pimpri-Chinchwad industrial belt.

The residential property investment potential at Ravet is further enhanced by the fact that J.N.N.U.R.M has begun construction of a 45-metre, grade-separated, non-signaled four-lane BRT (Bus Rapid Transport) road at this point. This road, with 40% of the work already completed, will ensure that key area such as Aundh, Pimpri, Chinchwad, Chakan and Talegaon are in easy access from Ravet.

Developer Activity Picking Up

Pharande Spaces and the Rama Group have joined hands at Ravet in launching an integrated residential township called Celestial City. In Pune, township properties are definitely the lifestyle wave of the future. This integrated township, spread over 2.5 million square feet, features futuristic facilities aimed at making it entirely self-sufficient and is going to be developed in three phases.

Since the highest demand in Pune is currently for affordable housing, the first phase targets the middle-income group with 2/3BHK flats ranging in size from 800 to 1200 square feet. These flats are currently priced between Rs. 24 to 34 lakh at the initial offering phase. Taking a cue from this pioneering project, other developers have also acquired land in Ravet, although their projects are yet to be announced.

The Trappings Of A Pune Real Estate Legend

While Ravet’s accessibility is certainly one of its biggest real estate market drivers, it also has a number of very important establishments in its immediate vicinity. These establishments will ensure that any township properties in this area will thrive.

Among them are the famous Aditya Birla Hospital, industrial giants such as the Bajaj Auto manufacturing plant, SKF and Telco, as well as important education establishments like the Indira Institute of Business Management, D.Y. Patil College and Mercedes Benz School.

Of course, the fact that Ravet is so close to the Hinjewadi IT hub is a major factor in terms of real estate investment potential. Ravet, with its upcoming integrated township, will now offer affordable residential property options for software employees from this software hub, as well as to those from the Talegaon MIDC and Chakan MIDC.

As of now, property rates at Ravet are still extremely rational. Rates at township properties tend to be slightly higher owing to the fact that they provide their own infrastructure. Because of this, the appreciation potential for properties in such townships is also much higher than in other projects.

Anil Pharande is President of CREDAI PCMC and Chairman of Pharande Spaces, a leading construction and development firm operating in the PCMC area of Pune, India.

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PCMC Takes Steps To Control Traffic

A proposal to develop the main chowks within Pimpri-Chinchwad Municipal Corporation (PCMC) limits is to be tabled at the civic body’s standing committee meeting. It will seek approval of expenditure to be incurred in taking steps to improve the flow of traffic at Wakad chowk on the westerly bypass, Dange chowk at Thergaon, KSB chowk in Chinchwad and Sambhaji chowk in Pradhikaran.

Read the rest of the TOI article, Traffic control: PCMC to develop 4 chowks.

Metro Rail For Pune, Pimpri-Chinchwad

Pune’s infrastructure has got a focus in Democratic Front government’s budget with Finance Minister Sunil Tatkare keen to make metro rail a reality in Maharashtra’s cultural capital and IT hub and at the same time remove the traffic snarls by investing in road infrastructure.

The budget also has measures that would give a boost to its cultural importance – and also the stretch between Mumbai-Pune would be identified as a knowledge corridor as a policy measure.

Read the rest of the Sakaal Times article, Budget bonanza for Pune, Pimpri-Chinchwad.

Pune, Pimpri-Chinchwad Have Clean Water

Tests conducted by the State Public Health Laboratory on thousands of tap water samples collected from 22 cities in the state show that Pune city and Pimpri-Chinchwad had near-zero contamination while a significant percentage of the samples in Mumbai, Nagpur and Kolhapur was contaminated and unfit for drinking.

While the contamination is two-fold between April 2009 and February 2010 in the water samples collected in Mumbai and tested and is an alarming four-fold in the Kolhapur samples for the same period, the water quality in Pune and Pimpri-Chinchwad is almost safe.

Read the rest of the TOI article, Pune’s water good, Mumbai’s bad.

PCMC Allows Chawl Residents Water Connections Without Owner’s Permission

In a move aimed at facilitating chawl residents to get water connections easily, the Pimpri-Chinchwad Municipal Corporation (PCMC) has decided to provide water connections to chawl residents even if they do not have permission from chawl-owners.

The move, expected to benefit over a lakh residents of chawls in the industrial town, was, however, being seen by landlords as an infringement of their rights. A chawl resident seeking water connection will have to provide a residential proof and pay an advance of Rs 1,400 towards water bill and Rs 1,500 for meter installation.

Read the rest of the article in the Indian Express: No need for chawl-owners’ permission for tenants’ water connection.

Residential Rates For Property Tax, IT Firms Relieved

IT companies in the city that were facing the daunting prospect of paying property tax at commercial rates as per a resolution passed by the Pune Municipal Corporation (PMC) three months ago can now heave a sigh of relief. In a clarification by the state government dated March 30, it has been made clear that its IT policy that allows residential rates for property tax in the rest of the state is applicable to Pune as well.

Read the rest of the Indian Express article, Relief for IT firms, residential rates for property tax.

PCNTDA Documents To Be Online Soon

Pimpri-Chinchwad New Township Development Authority’s (PCNTDA) ‘Shashwat project’ for paperless administration is almost ready. After the implementation of the project, all information regarding properties, including documents like lease deeds, demarcation of plots, building permission certificates and others will be available online for citizens.

According to the Pune divisional commissioner and president of PCNTDA, Dilip Band, it will digitise all records in PCNTDA limits. Touchscreens will be installed at the PCNTDA offices, using which people can get printouts of land records.

Read the rest of the article, Soon, all PCNTDA documents will be online.

PCNTDA has Rs 784 crore budget

The Pimpri-Chinchwad New Township Development Authority (PCNTDA) has proposed a budget of Rs 783.99 crore for the next financial year. The budget has provisions for facilitation centres for industrial workers in sectors 7, 8 and 10.

There is also provision for a residential township for middle income group (MIG) and low income group (LIG) on public private partnership (PPP) basis in sector 12. An eco-friendly office for PCNTDA at the Akurdi railway station, theme parks and traffic parks for children are some of the other features of the budget.

PCNTDA, popularly known as Pradhikaran, was formed in 1972 to provide affordable housing to industrial workers in Pimpri-Chinchwad. Parts of the villages of Bhosari, Chikhali, Moshi, Nigdi, Akurdi, Ravet and Chinchwad were included in PCNTDA limits.

Read the rest of the article, Rs784 crore budget presented for PCNTDA.

Pradhikaran To Get Driving Park

A one-of-its-kind park, which will create public awareness on traffic discipline and offer a proper ambiance for neophytes to undergo driving lessons, will be developed by the Pimpri-Chinchwad New Township Development Authority (PCNTDA).

The driving park, to be raised over 6.20-acre area at sector number VI in Nigdi Pradhikaran area, has a financial outlay of around Rs 5.48 crore. Divisional commissioner of Pune, Dilip Band, who is also chairman of  PCNTDA, while inaugurating the road safety week at Pune RTO, said that the project of driving park is part of infrastructural development to be done for creating public awareness on traffic discipline.

Read the rest of the article from Sakaal Times, Driving park planned at Pradhikaran.

Property Registration Just A Click Away

No more will property buyers or sellers have to stand in long queues at the 20 sub-registrar offices in the city. They will be able to book the date and time for any property transaction online.

In a bid to speed up the process as well as add transparency, the department has put in place estepIn, the computerised time slot booking system operational in Pune, Mumbai and Thane divisions.

Developed by the National Informatics Centre, the option is available on the website,http://igrmaharashtra.gov.in , where the property buyer/seller could book a time slot. The booking forms require the Personal Account Number (PAN) to be filled to avoid multiple registrations from a single applicant.

Read the rest of the article from the Indian Express, Adieu to queues, property registration