Factors enhancing Pune (Pimpri Chinchwad) real estate
Along with emerging cities like Hyderabad and Ahmedabad, Pune is gradually becoming a realty destination. The city has been witnessing a realty boom through its modern twin towns Pimpri-Chinchwad (collectively a city), which are situated to the South-East of Mumbai, in the North-West quadrant of Pune.
Pimpri-Chinchwad is the fifth most populated city of Maharashtra which has been popular for its industrial endeavors since decades.
When viewed as per the geographical perspective, Pune and the Pimpri Chinchwad Municipal Corporation (PCMC) have one of the country’s largest industrial layouts. Pune has been propped a lot by Pimpri-Chinchwad in terms of industrial sector making it the second largest after Mumbai.
Realty improvement has led to the growth in the price structure of all properties in and around Pune.
Aspects responsible for the development of Pune real estate:
Close proximity of Pimpri-Chinchwad
The developing twin cities, Pimpri-Chinchwad which are governed by the PCMC are situated 15 km away from the Pune city center. The Pune urban agglomeration has taken up speed because of the continuous urban stretch from Pimpri-Chinchwad. Adding on to it are the thriving industrial belts with engineering and automobile units.
Connection with major cities:
Pimpri-Chinchwad which is located on the Deccan Plateau rises 560 meters above the sea level. There are many rivers crossing through it.
The accessibility to road from this region is quite easy as the city is situated on NH-4 and NH-50. There are other national highways connecting to major cities like Mumbai, Nasik, Bangalore, Nagpur, Hyderabad and Chennai under the PCMC area.
Connection through railways is also excellent as Pimpri-Chinchwad is located on the Mumbai-Pune mail line along with a broad gauge and direct connectivity to major cities like Mumbai, Bangalore, Hyderabad and Pune.
Pune airport is at just 20 km away with regular direct flights to New Delhi, Chennai, Bangalore, Hyderabad and other international countries.
Industrial growth in Pimpri-Chinchwad:
The twin cities have over 4000 industrial units comprising of small, medium and large sectors. The region also has the most reputed industrial companies making it the most developed industrial belt in Maharashtra.
The industrial revolution in this region started with the arrival of the Hindustan Antibiotics in 1954, which is a public sector pharmaceutical company acting as a major factor to boost the industrialization in the region.
Further, to develop the region, the Maharashtra Industrial Development Corporation (MIDC) sought large tracts of land in the year 1956 giving way to leading players like Tata, Bajaj, SKF and Phillips.
The current PCMC has industries which include a large number of engineering units alongside other industries like telecommunications, chemicals and pharmaceuticals. Owing to the development of all these industries, the area has become an epitome for employment and population growth. Today Pimpri-Chinchwad is known as Pune’s sister city and is a metropolis in its own way.
Climatic influence in Pimpri-Chinchwad:
Due to the high altitude, moderate rainfall and luscious forests, the PCMC area has the perfect climate throughout the year. Monsoon however arrives during July-September. The annual rainfall in the PCMC regions is 700-800 mm followed by a maximum humidity of 70-80 percent during the rainy season.
Such climatic conditions allow diversified people to settle down in this region. Pimpri-Chinchwad has become one of the popular residential destinations resulting in the development of realty market.
One of the key features of the PCMC residential property market is that the area has the most advanced integrated residential projects. These projects offer innumerable amenities equipped with comfortable lifestyle.
Related Real Estate Articles:
Pimpri Chinchwad: The rising face of Pune real estate
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Image courtesy of ddpavumba at FreeDigitalPhotos.net
