PCMC emerges as affordable property destination
Pimpri Chinchwad Municipal Corporation (PCMC), a well-planned satellite town adjoining Pune, that offers properties at an affordable price, good amenities and infrastructure and also promises a good return.
Property prices are rising even in outskirts of Mumbai and the ratio of affordable housing has gone out of control. However Pune real estate has a far more encouraging picture. Developers in Pune are now developing township properties with internationally inspired development models of integrated township.
Property prices in PCMC are low in compared to other parts of Pune. Developers have acquired land in areas like Moshi and Ravet for integrated townships. These townships offer all modern amenities and features at affordable rates which other developers offers at higher rates in cities like Mumbai.
Property buyers’ maximum attention is drawn by the mid-end segment. Average properties with price range of Rs 30–70 lakh have been in notable demand. The demand for these kind of properties are from IT professionals, who wish to buy spacious apartments at an affordable price and wants to live away from hustle and bustle of the city.
The fully integrated township projects like Woodsville and Celestial City by Pharande Spaces, River Residency by Ishwar Parmar Group and Vijay Laxmi and Topica from Om Developers have been successful in delivering affordable housing for the mid-income segment. These properties are available within a range of Rs 3,000-5,500 per sq ft depending on the size of the apartments.
What makes PCMC different and affordable?
Apart from offers spacious apartments with all the modern amenities, its greenery and scenic beauty is one of the important factors that lures property buyers. The area is well maintained and away from traffic congestion, despite the proximity of the Pune-Mumbai Express Highway.
The expressway is well connected to Mumbai and other big cities and also the Hinjewadi Infotech Park which makes the area preferable for IT people searching for affordable houses. With all these advantages, the area promises an annual property price appreciation by 10-15 percent.
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