Real estate developments in Chinchwad
Chinchwad is a suburb of Pimpri-Chinchwad, an industrial hub located to the northwest of Pune. The city lies in the Pune Metropolitan Area and is governed by a common municipal body (the Pimpri-Chinchwad Municipal Corporation or PCMC).
Connectivity
Chinchwad is well connected by road, rail and air, and hence is easily accessible from all parts of the state. The 4-laned Old Pune-Mumbai Highway helps in connecting Chinchwad to the city of Pune. State Buses to different parts of the city can be availed from the Pimpri-Chinchwad Bus Stand at Vallabhnagar. Public transport system in this area is managed and operated by Pune Mahanagar Parivahan Mahamandal Limited.
The Pune International Airport lies at a distance of about 23km from the place. The Chinchwad Railway Station is one of the main halts for trains that run under the Pune Suburban Railway System, which connects Pune to its suburbs and neighboring villages. In addition to the BRTS system that is under-development in the area, the Maharashtra government has also proposed metro connectivity to Chinchwad, through the Pune metro rail project.
Residential Projects
Lying in proximity to the Mumbai-Pune bypass road and the Old Mumbai-Pune highway, home-buyers are attracted to the area, as it offers them easy connectivity to both the cities of Pune and Mumbai. Top-notch developers and builders have launched several residential projects in the area, and many more are in the pipeline.
Some of the residential projects launched in the area include Queenstown by Mind Space Realty Pvt.Ltd. offering 2,3 and 4BHK apartments; Ganga Aashiyana by Goel Ganga Group featuring 2 and 3BHK apartments; Kunal Nakshatram by Kunal Group,featuring 2 and 3 BHK apartments; Sukhwani Bliss by Sukhwani Promoters and Builders and Golande Estate, both featuring 2BHK apartments; Navkar Residency and Navkar Classic by Navkar Associates, both featuring 2BHK apartments and Dream House Residency by Maruti Group, featuring 2 and 3 BHK apartments.
The size of 1BHK apartments in Chinchwad vary from 550-670sq.ft, and the price ranges between 25lacs to 35lacs. The sizes of 2 and 3 BHK apartments range from 900-1200sq.ft and 1200-2000sq.ft., respectively. While the sale price of a 2BHK ranges from 58 lacs to 75lacs , the same ranges between 70 lacs to 98 lacs. Price, for 3BHK apartments in the region.
Price trends
Real estate sector in Chinchwad has been growing tremendously over the last few years, due to the factors like good connectivity, proximity to the industrial areas and high returns of investment.
At present, multistorey apartments are sold at a rate of about Rs. 4800/sq.ft., in Chinchwad. The average rental value of these apartments is approximately about Rs.14/sq.ft. Comparing the average sale price values of the second quarters of 2012 and 2013, an appreciation of about 6.5% is noted to have occurred. While the sale price of multistorey apartments was about Rs. 4500/sq.ft. in the second quarter of 2012,. the same rose to about Rs.5100/sq.ft. during the same period of 2013.
Rental values witnessed an appreciation of 16.5% during the second quarter of 2013, when compared with the same period in 2012. The prices soared from Rs.12/sq.ft in Apr-June 2012, to about Rs.14/sq.ft., in Apr-June 2013.
