Chakan: Emerging as the Next Real Estate Growth Engine for Pune

Pune, one of India’s fastest-growing cities, owes its development to its strategic location and proximity to Mumbai. As the city rapidly expands, new micro-markets are emerging in and around Pune, with Chakan being a prime example. Located just 30 km from Pune, Chakan has become one of the largest industrial corridors in the western suburbs, earning its reputation as the cradle of India’s automobile industry, housing international brands like Volkswagen, Mercedes-Benz, M&M, Bridgestone, GE India and many more.

In recent times, Pune and Nashik have witnessed phenomenal economic growth, leading to increased trade and movement of people and goods along the Pune-Nashik route. Mumbai, Pune and Nasik together make up Maharashtra’s golden triangle.

Speaking on the advantages of investing in Chakan Mr. Srikanth C, Managing Director, Intercontinental Infrastructure said, “The area has robust commercial developments, ongoing and upcoming infrastructure projects and excellent connectivity with Pune and Mumbai that makes it an amazing location for residential housing to develop. As compared to Pune, property prices here are reasonably low but looking at the rapid pace of development, we can expect prices to move up very soon.  It would be prudent for investors or home buyers to invest in a property now, as prices are moving north. Given the pace of development, investors and home buyers can expect attractive price appreciation for their properties, going forward.” 

Price Appreciation:Chakan has experienced significant price appreciation, with a 5.36% increase in the past year. According to industry reports, Pune saw a 4% increase in the housing sales in Q2 2023 where Chakan’s real estate growth too played an important role.

Connectivity:Chakan’s growth is supported by its excellent connectivity. It is situated approximately 30 km from Pune and is adjacent to the Pune-Nashik national highway. It lies on the route connecting the Mumbai-Pune Highway to the Pune-Nashik Highway and the Pune-Ahmednagar-Aurangabad Highway. Chakan is also just 150 km away from Mumbai and 175 km from Nashik. An upcoming ring road will further enhance connectivity by linking major industrial zones like Chakan MIDC, Bhosari MIDC, and Rajiv Gandhi Infotech Park, among others. Chakan is also part of the proposed Pune Junction–Nashik Road railway line.

Upcoming Infrastructure Projects:

Ring Road Project: The ring road will connect six National Highways – Mumbai-Pune (NH-48), Pune-Nashik (NH-60), Pune-Ahmednagar (NH-753F), Pune-Solapur (NH-65), Pune-Saswad-Palkhi Marg (NH-965) and Pune-Bengaluru (NH- 48). The construction of a ring road is intended to encircle Chakan, offering a detour that can alleviate the traffic congestion in the region. It is expected to be completed by 2026.

Nashik Phata to Khed Bypass: This 30 km six-lane elevated highway will connect Nashik Phata to Khed, reducing traffic in the Chakan automobile cluster. It is expected to be completed in two years.

Proposed Metro Neo Line for Nashik Phata to Chakan: This cost-effective metro line will connect Nashik Phata to Chakan, significantly reducing travel time from an hour to 25 minutes. Completion is expected by 2026.

Pune-Nashik Semi High-Speed Railway Line: This will connect to industrial zones of Pune and Nashik such as Alandi, Chakan, Khed, Manchar, Narayangaon, Sinnar, Satpur. It will also act as a catalyst to the industrial corridor along the belt.

Employment and Housing Demand: Chakan is home to many small, large scale industries and global automobile giants like Volkswagen and Mercedes-Benz. It is in close proximity to a large number of business hubs like Talawade MIDC IT Park, Commerzone, International Tech Park, Platinum Tech Park, Pradhikaran Industrial Zone, Pimpri Chinchwad Bhosari industrial area and Hinjewadi. Being strategically located adjacent to the Nashik-Pune Expressway, gives it an added advantage. This has led to growing employment opportunities for the people which has increased the demand for residential housing here.

Social Infrastructure: Chakan boasts a range of social infrastructure, including quality educational institutes like Podar International School, Vishwakarma Institute of Technology, Vidya Valley International School, healthcare facilities such as Unicare Hospital and Chiranjiv Hospital, and retail and hospitality hubs like Aishwarya Icon Mall, Dmart, Vedant Sankul and many more.