Chakan, strategically positioned in the northern region of both Pimpri-Chinchwad and Pune city, falls under the jurisdiction of the Pimpri-Chinchwad Municipal Corporation. Initially an agricultural area, the rapid industrial development in Chakan has transformed it into the industrial and automobile hub of Pune. Once recognised solely as the city’s industrial corridor, Chakan has now emerged as a burgeoning residential market in Pune. The convergence of industrial and commercial growth, coupled with enhanced infrastructure, has catalysed swift development in the area. To gain deeper insights into the real estate dynamics and market trends, this article explores the ready reckoner rates in Chakan, Pune.
See also: Ready reckoner rate in Viman Nagar, Pune?
What are ready reckoner rates?
Also known as circle rates in other parts of the country, ready reckoner rates play a vital role in India, serving as a fundamental tool for evaluating the value of a property for various purposes, including property registration, stamp duty calculation, and taxation. They signify the minimum value at which a property can be formally registered in a specific area and are set by the revenue department of the respective state government. The ready reckoner rate acts as a benchmark for determining the market value of a property, taking into account factors, such as size, location, age, and amenities.
Ready reckoner rates in Chakan, Pune
In Pune, the determination of ready reckoner rates falls under the jurisdiction of the state government’s stamps and registration department. These rates vary across different regions in Pune, depending on the overall market value of an area and the available amenities. The administration of Pune has organised properties and suburbs into 19 zones or divisions, further sub-categorized into 221 sub-zones, based on primary arterial roads and railway lines (from west to east). The Maharashtra government typically assigns higher ready reckoner rates to commercial properties and lower rates to residential properties. Additionally, the ready reckoner rate is influenced by the type of property. In Pune, the registrar value of apartments and flats differs significantly from that of independent houses and plots, even if they are in the same locality. In Chakan, Pune, the latest ready reckoner rates are:
| Flats/apartments (Per square metre) | Residential land (Per square metre) | Commercial space (Per square metre) |
| Rs 38,510 – Rs 38,840 | Rs 3,810 – Rs 6,790 | Rs 38,640- Rs 58,230 |
Read also: Everything about ready reckoner rate in Pune
How to check ready reckoner rates in Pune?
Online
To check ready reckoner rates online on IGR Maharashtra, follow these steps:
- Visit the official IGR Maharashtra portal.
- Navigate to ‘Online Services’ and select ‘e-ASR’.
- Choose the region of interest on the map.
- Specify district and village details for the desired rates.
Offline
For offline verification of ready reckoner rates:
- Visit the local sub-registrar’s office.
- Request for a copy of the Annual Statement of Rates (ASR).
- Provide property details for obtaining the ready reckoner rates.
- Calculate the property rate using the per sqft cost and total area.
Real estate trends in Chakan, Pune
Here are some of the key locality trends for Pune’s Chakan.
Chakan, Pune: Connectivity
Chakan is located 30 km away from the centre of Pune, on NH-50 between Pune and Nashik. Boasting excellent connectivity by road, Chakan is easily accessible, making travel to and from the area convenient. Key arterial roads, such as Pune-Nashik Road, Talegaon-Chakan Road and Chakan-Shikrapur Road traverse this region, facilitating smooth transportation. The ongoing development of a ring road adds another layer to connectivity, linking major industrial establishments like Chakan MIDC, Rajiv Gandhi Infotech Park and Bhosari MIDC.
Chakan enjoys robust bus connectivity through nearby hubs, such as Bhosari Bus Depot, Pimpri Bus Stand and Pune Bus Stand. The area is well-served by frequent PMPML and MSRTC operational buses, seamlessly connecting the locality to various parts of Pune and Pimpri-Chinchwad. For those relying on rail transport, Pimpri Railway Station is located 20 km away via NH-60. Additionally, Pune International Airport is easily accessible at a distance of 28 km through Chakan-Alandi Road.
Chakan, Pune: Infrastructure
Chakan in Pune boasts a well-developed infrastructure, offering residents a host of amenities for a comfortable and convenient lifestyle. The locality is equipped with numerous good schools, restaurants, hospitals and more, ensuring that essential services are easily accessible. For education, Chakan is a home to several reputed schools, including Innovative International School, Podar International Sara City, Vidya Valley International School, PK International School, and Aglo International School.
In terms of healthcare, Chakan features prominent hospitals, such as Core Hospital, Yashada Childcare Clinic, Chiranjiv Hospital, and Pune Health Care Centre. Meeting shopping requirements, Vedant Sankul and Aishwarya Icon Mall serve as key retail hubs within the locality. Residents also have access to retail outlets of well-known national and international brands, including My Jio Store, Amul Retail Outlet, Raymond Retail Shop, Bata-Anandi Retail Outlet, Max Fashion, and Croma. This diverse retail landscape enhances the overall convenience and lifestyle offerings for the residents of Chakan.
Chakan, Pune: Residential properties
Chakan is characterised by a prominent presence of multi-storey developments, shaping the residential landscape with a variety of housing options ranging from affordable to luxurious. The locality hosts several key residential projects, each contributing to the diverse housing offerings in Chakan. Notable residential developments in the area include Xrbia Eiffel City Ph-2, Roshan One, Mantra Residency, Maple Aapla Ghar Chakan, Crystam Landmark Apoorvam, and others. Eminent builders have played a crucial role in shaping Chakan’s real estate, and some of the noteworthy ones operating in the area include Shri Sai Associates, Ivory Group, Xrbia, Shree Sai Associates, Samruddhi Buildcone, and Kasturi Housing. These builders have contributed to the development of Chakan as a thriving residential hub.
Chakan, Pune: Commercial properties
Chakan in Pune stands as a prominent commercial hub, particularly renowned as a major automobile hub. The area houses manufacturing units for various automobile brands, including Volkswagen Group, Jaguar Land Rover, General Electric, Bajaj Auto, Daimler-Benz, and Mahindra & Mahindra. This concentration of automobile production plants has not only established Chakan as a key industrial zone but has also generated numerous job opportunities, attracting migrants to the region.
Furthermore, Chakan is home to a Special Economic Zone (SEZ) promoted by the Maharashtra Industrial Development Corporation (MIDC), further bolstering its industrial significance. The locality hosts a mix of small-and large-scale industries, with notable players such as Volkswagen and Mercedes-Benz contributing to the industrial landscape. In addition to its industrial prowess, Chakan benefits from its proximity to various tech parks, enhancing its appeal for businesses. Tech parks like Talawade MIDC IT Park (16 km), Commerzone (26 km), International Tech Park (38 km) and Platinum Tech Park (32 km) are well-known establishments located near Chakan.
Moreover, the strategic location of Chakan also places it close to key industrial zones, such as Khed City (14 km), Pradhikaran Industrial Zone (15 km), Pimpri Chinchwad Bhosari industrial area (16 km) and Hinjewadi (28 km) via NH-60.
Chakan, Pune: Price trends
There are several residential properties in Chakan available for buying and renting. The average price of houses in the locality is Rs 4,113 per square foot (sqft), while the average rent is Rs 10,257 per month.
Why invest in Chakan, Pune?
Investing in Chakan, Pune, has become a popular choice for various reasons, making it a sought-after neighbourhood. The locality offers convenience through excellent connectivity by road and rail, providing residents with easy access to hospitals, schools, supermarkets, and malls. Its appeal is further enhanced by a clean, pollution-free, and green environment, making it an attractive option for those seeking a healthy and sustainable living environment.
Chakan stands out for its minimal traffic congestion, contributing to a hassle-free commuting experience. The proximity of Chakan to nearby tech parks is particularly advantageous for professionals who need to travel to work daily. The area is witnessing rapid growth, due to numerous industries in and around Chakan. Additionally, its closeness to popular tech parks adds to its allure, providing a location with a plethora of offerings at affordable rates.
Chakan is increasingly preferred for both renting accommodation and as a promising option for future investments. The combination of favourable factors, including connectivity, amenities, environmental quality, and industrial growth, positions Chakan as an attractive and thriving investment destination in Pune.
FAQs
Is Chakan an affordable neighbourhood?
Absolutely. Chakan is recognized for its affordability within the city. While it may not be the most affluent district, it stands out for offering good-quality, budget-friendly housing options.
How is property value determined based on the ready reckoner rate?
Property value is calculated by multiplying the ready reckoner rate in the area by the property's built-up area in square metres.
What happens if the market value is lower than the ready reckoner rate?
If the market value is lower than the ready reckoner rate, the property must be registered based on the higher value, which is the circle rate.
What is the stamp duty value?
Stamp duty is calculated by considering various factors, including market value, transaction value, or ready reckoner rates set by the local government.
What factors influence the ready reckoner rate of an area?
Ready reckoner rates depend on various factors, including the location of your sector, infrastructure, amenities provided, and economic factors.
Is it mandatory to pay house tax in Pune?
Yes, property tax payment is compulsory in Pune for all property owners.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
