What is it about Pimpri Chinchwad and its township properties that is so different from what is happening in the rest of the Pune property market? To understand this, one must first understand what goes into the formation of a planned city.
The breathtaking residential areas that now dot the map of the Pimpri Chinchwad Municipal Corporation are no accident – they are the result of carefully planned social, economic and real estate growth.
Unlike the central areas of Pune, the real estate market of PCMC has been scrupulously shielded from the central city’s ad hoc style of development. The vigilance and futuristic thinking of this avant-garde satellite city has added a whole new dimension to the concept of residential properties in Pune.
From the start, the PCMC planning authorities were determined to avoid the mistakes made in the nearby city of Navi Mumbai, popularly known as the largest planned township in the world. After all, what started as a regulated development in Navi Mumbai soon gave way to commercial expansion.
Instead, PCMC has adopted a smart growth plan – a plan that places the utmost importance on organized city planning. No scope was given to a short-sighted focus on capitalizing on the development potential of this new territory – the focus was firmly maintained on long-term considerations.
It was to be the city of the future – a place where residents could work, live and relax without any of the constraints that plague the rest of Pune. Slowly, almost imperceptibly, the landscape of this hitherto ignored satellite town changed. Proposals for faster development were rejected. The master plan remained in place and the results are now brilliantly evident.
Today, Pimpri Chinchwad Municipal Corporation is an acknowledged masterpiece of community-driven property development. It has a unique blend of sustainable residential spaces, highly advanced transportation networks, a wide range of employment opportunities, modern housing typologies such as township properties, and superior supporting infrastructure. At every stage of planning, the natural, cultural, sociological and economic resources inherent in this city have been carefully preserved.
This incredible growth area is now the most logical option for residential real estate in Pune today. For homebuyers, PCMC is the ideal alternative to Pune’s unregulated sprawl, rapidly worsening traffic congestion and disconnected neighborhoods.
Given the mounting evidence of rapid urban decay in central Pune, township properties such as those currently showing up at Pimpri Chinchwad Municipal Corporation are truly the new residential deal.
However, PCMC is not only synonymous with larger and greener spaces, cheaper real estate prices, an improved social fabric and better infrastructure. The establishment of these new growth areas, with modern residential alternatives such as township properties, is a blessing for Pune’s property market (which is stagnating in increasingly larger pockets).
At first glance, they only seem to play a role in reducing urban sprawl and providing buyers with a healthier and more comfortable lifestyle. However, they are also instrumental in creating new urban centers, in which new business districts create job growth in new directions.
Thanks to the organized character of their development, they create new and more rational margins for the expansion of the real estate market while reducing the pressure on real estate prices in the metropolis.