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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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.

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.