Taking into consideration the present day real estate trendsin India’s developing cities, one can deduce that consumers seek an ideal balance between a nature-friendly lifestyle and modern luxuries. With a welcome onset of urban agglomerations like Pimpri-Chinchwad Municipal Corporation, abbreviated as PCMC it is evident that such a balance is not only possible, but also extremely feasible and practicable. Reckoned as the twin city of Pune, PCMC is one of the most well planned and futuristic satellite cities of India which was also endowed with a national award for being the best city for 2011.
Expanding with aconstant and steadily upward graph, PCMC has amalgamated most of the surrounding rural areas turning them into the beneficiaries of urbanisation. Apart from the prospective to decongest Pune, the formation of PCMC has opened up a real estate corridor with a very high potential of asset value appreciation. Relatively lower entry costs and much higher growth potential of real estate prices seem exceedingly attractive. The relentlessly rising demand for both commercial and residential spaces in PCMC has put this metropolis on the radar of real estate investors as well as luxury home providers.
Thanks to its strategic geographical location, PCMC is well connected with Pune and Mumbai as well as rest of the country by road, rail, and air. This connectivity will be further augmented with the completion of the proposed airport near Chakan.The industrialization of Pimpri Chinchwad instigated in 1954 with the arrival of Hindustan Antibiotics Limited and today PCMC has come to be one of theforemost industrial hubs in Asia. A home to leading automobile companies including Mahindra & Mahindra Ltd, Bajaj Auto, TATA Motors, Mercedes Benz, General Motors, Volkswagen & many more, PCMC also hosts the manufacturing units of several heavy industries.
Apart from the industrial belt of Chakan, Bhosari, and Talegaon, the Hinjawadi IT Park draws thousands of corporate personnel from all over the country. Also known as the Rajiv Gandhi Infotech Park, the Hinjawadi IT Park happens to be the second largest IT Park in Asia. A home to a number of leading IT and software companies including Tata Consultancy Services, Infosys, Wipro, Tech Mahindra, Capgemini, and others, Hinjawadi significantly contributes to the increased job opportunities in the PCMC area. Further, the forthcoming Pune International Exhibition and Convention Centre at Moshi will be one of Asia’s biggest industrial convention centres.
These factors render PCMC into a highly sought-after employment hub beckoning thousands of young engineers and other corporate entrepreneurs every year. The ratio of young graduates migrating from various parts of the country to PCMC has been escalating, due to which PCMC has observed the highest migration rate in India over the last decade. PCMC’s transformed into a bustling IT hub has rocketed the economic activity, brought more revenue to the province, and has generated an ever increasing demand for quality housing.
Planned after the blueprints of Chandigarh, PCMC boasts superior infrastructure,offers residential and commercial spaces in varied price ranges, and thus defeats Pune in its pace of infrastructural development with the benefits of its visionary urban planning including sustainable growth and a lifestyle of global standards being evident, PCMC has become one of the most vibrant real estate centres of India. Rather than merely being a rudimentary suburb, PCMC is now being acknowledged as a desirable residential destination. The increasing number of reputed colleges and proximity to all city centres, urban centre adds to the appeal of PCMC as a place to settle and grow in.
Various completed and on-going luxury housing projects in PCMC promise a better quality of life in the lap of Mother Nature, thus combining the advantages of modernisation and natural living. The phenomenale conomic growth, constant infrastructural upgrades, thriving industrial belt, global standard of urbanization, good connectivity, and exponentially growing real estate sectormake PCMC one of India’s most pursued real estate investment destinations. While other metropolitan cities of India are still trying to recover from the snags of speedy urbanisation, PCMC and its 42 sectors of Pradhikaran are enjoying the benefits of high-techurban planning and advanced quality of infrastructure.
Other than PCMC, India flaunts many established as well as upcoming metropolitan cities. The metropolitan cities of Mumbai include Navi Mumbai, Kalyan, Dombivli, Vasai, Virar, etc. while those of Delhi are Greater Noida, Gurgaon, Ghaziabad, and Faridabad. Yelahanka and Devanhalli are flourishing in the vicinity of Bangalore, while Sriperumbudur and Siruseri are the proposed metropolitan cities of Chennai. What set PCMC apart from all of them are infrastructural excellence and the level of urban planning. In PCMC, buildings and other edifices are proportionately engineered, and not randomly erected.
The perfect combination of employment opportunities, cutting-edge infrastructure, and the potential for a modern yet nature-friendly lifestyle makes PCMC more inviting than any other metropolitan cities of India. Swiftly moving towards becoming a global cosmopolitan city, PCMC will explore new avenues of industrialisation with the impending arrival of the Taiwanese electronics contract manufacturer and Apple iPhone maker Foxconn Technology. The manufacturing operations of Foxconn Technology are expected to start in Maharashtra by 2018. One of the two plots identified by the company to set up its plant is in Pune, which will further boost the employment opportunities in the neighbourhood of PCMC.
The infrastructural planning and development for each sector of Pradhikaran is being executed separately under the direction of Pimpri Chinchwad New Town Development Authority. This makes PCMC a dynamic civic zone where industry co-exists with housing units in a beautiful equilibrium. Extensive and well-lit roads across the townships, adequate water and electricity supply, garbage disposal system, availability of all basic amenities and modern conveniences, recreational facilities, multi-level security, green open spaces, and numerous other civic-friendly factors make PCMC an idyllic place to envisage your future at. Also lucrative for non-residential Indians and foreigners who are planning for retirement or looking forward to grabbing good returns, PCMC has today turned into a thriving real-estate realm.
About The Author:
Akash Pharande is Director of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.