Chinchwad property market: An overview

Chinchwad is a premier residential area located in the western suburbs of Pune. This was a rural area till recent times.

 

Nearby Chinchwad localities include many famous areas of the city of Pune such as Pimpri, Pimple Gurav, Bhosari and Sangvi. All these localities along with a few other areas form the urban agglomeration of Pimpri-Chinchwad. There are varieties of projects available in this area and they range from affordable to luxurious.

 

There are a lot of reputed builders like the BU Bhandari Landmarks, Mahindra Lifespaces and Sukhwani Constructions who are working on their different projects in Chinchwad. Some of the premier projects in Chinchwad include The Woods- Mahindra Lifespaces, Sukhwani Udyan and Kalpataru Harmony.

 

Due to advent of various IT companies and other multi-national companies (MNCs), the city of Pune has been witnessing a large influx of working population from outside the city. As a result, there has been a surge in the demand for residential apartments in Chinchwad, with it being one of the noted suburbs of Pune. Although the prices of the flats in Chinchwad are going up at a rapid pace, affordable housing can still be found here, for the mid and the junior-level executives of the various companies.

 

Chinchwad has seen a lot of development in the last few years and the government is keen to develop the area as a modern town. Hence, it has granted permission to a number of projects in this area. The civic amenities have also improved. The industrial growth and growth of the IT sector have also led to the development of retail and hospitality sectors in the area.

 

Connectivity with nearby Chinchwad localities

• There are a few major roads which run through the area namely The Wakad Road, The Mumbai-Pune Expressway, The Kalewadi Main Road and Spine Road.
• The area has extensive bus services and the Chinchwad Bus Stand and Pimpri Bus Stand lie in close vicinity.
• There is a railway station at Chinchwad from which the railway services can be availed.
• It takes about 40 minutes from Chinchwad to reach Pune Airport.

See also: Property rates and trends in Chinchwad, Pune

 

Employment hubs near Chinchwad

• Rajiv Gandhi InfoTech Park is located at a distance of approximately 10 kilometres from the locality of Chinchwad.
• DLF Akruti IT Park is located at a distance of approximately 15 kilometres.
• Panchshil Tech Park is approximately 8 kilometres away.
• International Tech Park is located 11 kilometres away from the locality.

 

Schools in Chinchwad and other social amenities

Chinchwad offers very good social infrastructure to its residents. Some of the reputed schools in Chinchwad include The Good Samaritan School, Wisdom World School and Mount Litera Zee School. Some of the leading hospitals in Chinchwad include the Ratna Memorial Hospital, Aditya Birla Memorial Hospital and Seth Ramdas Shah Memorial Hospital and Research Centre. The shopping needs of the residents are catered to by malls in Chinchwad such as the Ozone Mall, Jewel Square Mall and Laxmi Road.

 

Price trends in Chinchwad

• Price appreciation- Around 22% in the last one year.
• Current property rates- Rs 4,974 – Rs 7,369 per sq ft.

 

Reasons to invest in Chinchwad

Considering the price trends in Chinchwad and the rising demand, the area is a good bet for investment. There is good appreciation of property rates, with a number of projects being developed here. Moreover, the area is located very close to the IT/ITeS hub and industrial zones of Pune. The government has granted permission to many projects in Chinchwad, boosting the scope of development of infrastructure facilities there. Considering all these factors Chinchwad is an excellent place for investment.

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