PCMC Real Estate Turns To Gold With The Pune International Exhibition & Convention Centre
Prithviraj Chavan, the new Chief Minister of Maharashtra, has finally put the Pune International Exhibition & Convention Centre at Moshi in PCMC on the fast track. Obviously, this world class piece of infrastructure is going to open the floodgates to a new wave of demand for real estate in the northern parts of the Pimpri- Chinchwad Municipal Corporation. This is one of the best examples of how planned growth and foresight can ensure that an entire city’s real estate fortunes reach for the stars.
There were a couple of decisive factors involved in choosing this location as the venue for the international convention centre. First and foremost, PCMC boasts of a prolific manufacturing sector where a number of global industry giants have their plants. The arrival of this Convention Centre will be a major boost to these industries, who will be able to host and attend massive international business events. This benefit also applies to the IT occupiers of the Software Parks at Hinjewadi and Talawade, which are also in the vicinity. Secondly, only the Pimpri Chinchwad Municipal Corporation could offer the 240 acres over which this Rs. 600 crore project will be developed.
With the arrival of this project, the PCMC will become the primary focus for an increasing number of global-scale business events in Pune and Mumbai, as well. After all, this will be the largest such Convention Center in India. It will incorporate seven convention halls of 10,000 square meters each, a 600-room 3 star hotel, two 5 star hotels, an eco-friendly 9-hole golf course and parking space for 3500 vehicles. At a rough estimate, a minimum of 30 major exhibitions and conventions will be held there annually. No other event venue in and around Maharashtra or anywhere else in India will be able to match its state-of-the-art facilities and sheer opulence, grandeur and overall enablement. Phase-I will be ready by the end of 2012.
This project will have an enormous impact on the real estate values in the Pimpri Chinchwad Municipal Corporation – especially in terms of residential properties in its immediate proximity. Woodsville, an integrated residential complex by Pharande Spaces that is located diagonally opposite the ICC, is by far the most advantageously located project in this regard.
In fact, the location for Woodsville was chosen with great foresight, precisely to capitalize on the positive fallout of the International Convention Centre’s eventual arrival. Pune property buyers who had booked flats in Woodsville will soon witness the value of their investment rising exponentially. Similarly, Pharande Spaces’ upcoming project Essmeralda Isles in Pradhikaran Sector VI, is just half a kilometer from the ICC.
In these two projects, homebuyers from Pune and PCMC finally have the perfect combination of an elite lifestyle in an internationally renowned neighbourhood and tremendous appreciation potential.
Posted by: Avinash Gokhale