Pimpri-Chinchwad is a well-known area in Pune, Maharashtra, that has a commendable financial turnover. It is an upscale locality situated in the north-western suburbs of the Pune city. Since it serves as a robust ecosystem for various eminent industries, Chinchwad is generally regarded as one of Asia’s largest industrial hubs. Due to its vast commercial establishment, Chinchwad attracts a commendable influx of manpower and therefore, also holds a very promising residential real estate market. Moreover, the city boasts a closeness to the Pune-Mumbai Highway, which makes it quite a conducive location for both commercial and residential purposes. In this article, the circle rates of the properties in Chinchwad, Pune, will be discussed.
What are circle rates?
In real estate, the circle rate is an important factor in assessing the value of a particular property before its ownership gets transferred from a seller to a buyer. Typically, a property’s circle rate refers to the minimum rate or price of a property (e.g., a plot, residential house) below which it cannot be registered in the government’s official records. A noteworthy fact here is that circle rates are determined by the respective state governments of the country on the basis of different factors such as the location and infrastructure of the property, age and type of the property, amenities provided and market dynamics. At the time of property registration, the circle rate is used to calculate the stamp duty and registration charges, which ultimately serve as the major revenue sources for the government.
Circle rates in Chinchwad, Pune
Circle rate, also known as ready reckoner property rate or annual statement rate (ASR) in Maharashtra, is the reflection of a property’s importance in the real estate business. Since circle rate witnesses fluctuations across localities and even commercial/residential projects, the Maharashtra state government annually publishes an area-wise ASR to ensure consistency over land rates throughout Pune.
The determined ASR takes into account all the sub-urban administrations and therefore, properties in Pune city are classified into 19 zones that are further divided into 221 subzones. Under the subzones, the circle rate of the properties is according to the type of the properties (e.g., industrial, residential, offices, shops).
How to check the circle rates in Chinchwad, Pune?
By visiting the official site of the Department of Registration and Stamps, Government of Maharashtra, one can easily find the circle rates of any desired location in Pune. The website also provides the option of a web-based e-stamp duty calculator that helps determine the stamp duty charges for a property. Generally, the commercial properties in Pune tend to have higher circle rate in comparison to the residential properties. The latest circle rates of the commercial and residential properties in Chinchwad, Pune, set up by the state government are given in the table below:
| Location | Flats/Apartments (Circle rate in Rs. per Sq. M.) | Residential lands (Circle rate in Rs. per Sq. M.) | Offices (Circle rate in Rs. per Sq. M.) | Shops (Circle rate in Rs. per Sq. M.)
 |
| Chinchwad | 44,070 – 60,320 | 11,640 – 38,380 | 50,080 – 71,530 | 56,440 – 1,61,960 |
Real estate trends in Chinchwad, Pune
Flourishing on the suburbs of Pune, Pimpri-Chinchwad has become a home to a myriad of industries (e.g., automobile, food, metallurgy, IT) and hence, an attractive location to real estate developers. As more industries and business corporations are mushrooming continuously, the Chinchwad region is bustling with commercial buildings that are available for buyers on lease or rent. This industrial development in Chinchwad has also caused a rise in the residential properties within its neighborhood where employees of these businesses can stay close by to maintain a proper work-life balance.
Chinchwad Pune: Location and connectivity
Located at a distance of nearly 15 kms from the Pune city, Pimpri-Chinchwad ranks fifth in population in Maharashtra. The city is well-connected to its adjoining regions and can be easily reached via different modes of transportation. Chinchwad is easily reachable by roadways since it is located at the confluence of two famous highways namely NH50 (the Pune-Nashik Highway) and NH4 (the Mumbai-Bangalore Highway). Using the bus stand services of Chinchwad, it is quite easy to enter major cities of India like Nagpur, Chennai, Mumbai, Hyderabad, and Pune. Chinchwad’s location on the Mumbai-Pune rail line further supports its direct rail connectivity to the aforementioned cities. The city facilitates this via its two suburban railway stations, i.e., Pimpri station and Chinchwad station. The state government also proposed metro rail construction within the Chinchwad region to expedite the commute of people between different cities of Maharashtra. Moreover, situated nearly 20 km away from Chinchwad locality, Pune International Airport connects the city to various national and international destinations.
Chinchwad Pune: Commercial properties
Chinchwad city is the most sought-after destination for the establishment of industrial units of various top-notch conglomerates. Mahindra & Mahindra, Tata Motors, Bajaj Auto and Force Motors are some of the many famous automobile companies that have cemented their roots in different localities of the city. Apart from this, Chinchwad houses some well-known pharmaceutical companies namely Hindustan Antibiotics Limited, Emcure Pharmaceuticals, Lupin and CEMACH Pharmaceuticals. Most of these notable companies are situated in localities such as Bhosari, Pimpri, Nigdi, Dapodi and Moshi. Chinchwad is also famous for being the hub of many renowned IT companies (e.g. Capgemini Software, Cognizant Tech Solutions).
Chinchwad Pune: Residential properties
The city of Chinchwad is surrounded by some well-known localities like Vidya Nagar, Pimple Gaurav, Thergaon, Vikas Nagar, Moshi, Saudagar and Tathawade. The most notable areas within these localities are Wakad, Vitthal Nagar, Nigdi and Bhosari. Chinchwad region is bustling with numerous residential projects including but not limited to Sands Golf Estate, Maharashtra Surbhi Heights and Swastik Spira. The majority of the working-class residents in Chinchwad lean toward owning their own property in these residential areas. However, people can also reside in the city by choosing residential properties with rent or lease options. It is worth-mentioning that property rates in Chinchwad face fluctuations and therefore, investors should analyze the price trends beforehand to make a profitable deal for both parties involved. The average property price and average rent cost of residential properties in Chinchwad Pune are given below:
| Location | Average Price in Rs per square foot | Average Rent Price in Rs per square foot |
| Chinchwad | 6,512 | 23,138 |
Why invest in Chinchwad?
Chinchwad is an exclusive and rich suburb in the Indian city of Pune. The area is well-known for its transportation, pharmaceutical, electrical, construction goods, electronics and hardware, aerospace and production plants.
Connectivity
Chinchwad is well-connected with the Mumbai-Pune Expressway, Kalewadi Main, and Spine Road. It is also connected by railways and Pune Airport. Pune Airport is 40 minutes away from Chinchwad.
Better social and civic infrastructure
The expansion in the IT and industrial sectors has increased retail, hotel, social, civic, and residential development as more homebuyers and investors rush here.
Affordable housing
The residential demand has increased as more employees relocate to this area. Despite rising prices, many new houses are catering to a varied range of home-buyers and their demands.
FAQs
What is the Circle rate or ASR In Pune?
Circle rate or ASR in Maharashtra is the minimum rate a buyer pays to the government to register their property.
How do you calculate the property rate in Pune using the ready reckoner rate?
The property rate can be easily calculated by multiplying the circle rate and the built-up area of the property.
How is the Circle rate of a property different from the Market rate?
The circle rate is pre-determined by the state government. On the other hand, the market rate is decided by the property’s seller based on market conditions and is generally higher than the circle rates.
Who decides the circle rates in Chinchwad Pune?
The property circle rate in Pune is determined by the Revenue Department of Maharashtra's state government after consultations with the local authorities.
What are the factors that help in determining circle rates in Pune?
To determine the circle rates of a real-estate property, the state government pays attention to several factors such as market value, location and usage of the property, construction type, and the infrastructure and amenities associated with the property.
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