by Mr. Arvind
Jain, Pride Group
Location is
everything in real estate - and never more so than in Pune, one of India’s most
exciting & active real estate markets.
The Oxford of the
East has been steadily gaining a larger and larger share of India’s IT &
ITeS pie, and is now all set to surpass even Bangalore.
At the same time,
Pune’s real estate market is further bolstered by its thriving manufacturing
industry as well as education and healthcare sectors.
With these multiple
demand drivers, Pune’s property market is naturally an investment hotbed par
excellence.
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| Arvind Jain, Pride Group |
Not surprisingly, the
most advantageous locations in the city are beehives of real estate development
activity.
As a consequence,
areas such as Kalyani Nagar, Viman Nagar & Koregaon Park - the
time-honoured residential destinations for the high-salaried IT class - have
already reached saturation point.
Whatever options
remain are exceedingly expensive and beyond the reach of middle-income
end-users and even most investors. Kharadi, Pune’s latest and most promising IT
hotspot, is rapidly heading in the same direction.
In the midst of this
real estate development and pricing gridlock, it seems improbable that one
single new location in Pune can still provide both matchless location and affordability.
However, that is exactly what Charoli offers.
To begin with,
Charoli is located abou 6 kilometres from Pune Airport at Lohegaon – the
singular factor that raised Viman Nagar and Nagar Road to the highest levels of
potential. In fact, Pune’s airport has proved to be a magnet for all classes of
real estate development – residential, commercial, retail and hospitality.
Lohegaon is the fulcrum from which a huge radius of development potential in
Pune has been leveraged.
Airports As Economic
Engines..
In any form of
business, areas that are easily accessible from airports are crucial economic
drivers – and it is no different in Pune. The expansion plans of Pune’s
Information Technology, automobile and manufacturing MNCs hinge on high-level
decision makers who oversee them. Likewise, accessibility is crucial for the
executives who follow up with the implementation of these plans on the ground.
Ease of transit to
and from the city’s key business areas is therefore of primary importance, and
has a direct effect on commercial viability of countless companies, the
resultant creation of jobs and – as a logical consequence – Pune’s overall
economic progress.
Also, airports in any
city are massive catalysts for employment in various sectors such as hospitality,
retail and logistics. Demand for residential property in and around the airport
& the countless commercial undertakings it supports is extremely high,
since the people who service these establishments need to live in the immediate
vicinity. This is the primary factor behind the consistently high real estate
investor interest in and around airport-centric locations.
Pune's Charoli – The
Ultimate Real Estate Location
Apart from its
proximity to the airport, Charoli has various other location benefits. It is
just 10 kilometres from the Pune railway station, 7 kilometres from the IT hub
of Kalyani Nagar, 8 kilometres from the high-end residential area Koregaon Park
and 15 kilometres from Shivajinagar.
In addition, Charoli
lies squarely along the proposed 170-kilometre Ring Road around Pune and
Pimpri-Chinchwad. This massive infrastructure undertaking will provide an
unprecedented level of inter-connectivity to Pune and the PCMC and beyond,
vastly elevating the real estate profile of every location it touches.
Indeed, there are
many locations in Pune that hold inherent promise because of their location.
However, many of these have been unable to emerge in strength due to the fact
that they do not fall within the Pune Municipal Corporation limits. This lacuna
has resulted in severe limitations in terms of road networks, sanitation
services as well as water and electricity supply. Charoli, on the other hand,
falls squarely within the PMC limits and has all the implied benefits.
In short, Charoli is
a coiled spring of development potential ready to make a quantum jump onto
Pune’s real estate map. A strategic study of this area indicates that it is an
ideal location for large, planned mixed-use developments.
About The Author..
Mr. Arvind Jain is
Managing Director at Pride Group
Mr. Arvind
Jain is Managing Director of The Pride Group, a world-class property
development conglomerate that is changing the cityscapes of Pune, Mumbai &
Bangalore.
Established
in 1993, The Pride Group has built and delivered above 10 lakh square feet of
constructed area and has an ambitious target of more than 50 lakh square feet by 2013.
For Media Contact.
Mr. Jay Kalghatgi
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