Accommodation Times News Services
By Arvind Jain, Managing Director – Pride Group
Charoli has become one of the hottest real estate locations in Pune. Moreover, with the presence of an ultra-modern mega township, the process of transforming Charoli into a high-value residential suburb which meets all the requirements of a high-flying, sustainable lifestyle is well underway.
The need for a superior suburb with advanced housing options is obvious for a city like Pune. With the city’s urban sprawl spinning out of control in most other precincts, township living in areas like Charoli is the logical solution to give residents a means to escape traffic snarls, air pollution and the claustrophobia of densely-packed population.
Pune’s Mounting Urbanization Problems
In a growing city like Pune, the common misconception is that the most valuable real estate locations are in the city center. While it is true that properties near the center of the city are in demand, the fact is that such central locations are also hemmed in by slums and unregulated tenement areas. Further problems arise when these locations are identified for urban redevelopment. Since these housings are not entirely legitimate, developers take up these centrally-located land parcels and come up with projects often comprising of 30 flats or less.
Since their investment is low and space is extremely restricted, these developers cut every possible corner on amenities. The result is that the potential residents have no access to the basic amenities which a modern urban life should involve. This gives rise to minuscule, strangulated residential areas that contribute to the urban nightmare which defined inner-city living in Pune today.
Suburban Townships To The Rescue
In new suburbs like Charoli, the land usage still has the potential of a wholesome development. This brand-new location has only recently been identified for development, and already boasts of a 400-acre mega township which has been strategized to offer the most superior living standards.
In recent years, integrated townships have proved to be a crucial and defining component of development in developing countries like India. Not only do these projects provide a high standard of internal and external infrastructure, their strategic location also ensures that the residents are in no way isolated from the essential lifestyle attributes of the main city. At the same time, every indispensable feature from uninterrupted water supply and electricity to education, healthcare, shopping and entertainment facilities are available in the township itself.
Another advantage that cannot be ignored in integrated townships is the competitive property rates during the immediate pre and post launch stages. In the initial stages, developers are focused on boosting occupancy and will therefore desist from quoting excessively high property prices. For this reason, even though the land valuation does rise rapidly with the growing infrastructure, an integrated township starts out as a magnet for buyers and investors who seek to achieve the lowest entry point so as to benefit from rapid appreciation later on.
Charoli – Township Destination Extraordinaire
As a real estate location, Charoli offers several important advantages to its residents. It provides ready access to the leading schools and colleges that are the pride of Pune, the Oxford of the East. It also adjoins some of the most important Information Technology and BPO hubs such as Hinjewadi, Magarpatta City and Nagar Road. This is a crucial factor, since Pune is attracting a very high share of the IT and ITeS business flowing into the country (studies even suggest that it will even surpass Bangalore soon). Further, Charoli provides ready access to the MIDC manufacturing belt in PCMC. On all counts, Charoli is a found haven for employees working in any of these hubs.
Charoli is also important because it is the next obvious growth and investment corridor after the rapid saturation of Nagar Road and the adjoining areas. Residential areas like Kalyani Nagar, Koregaon Park and Viman Nagar have become extremely expensive and make even the high-income groups think twice about buying properties there. Located in perfect juxtaposition to these areas, there is nothing that Charoli misses out on in terms of the advantages they offer.
Situated just 6 kilometers from the Pune Airport at Lohegaon, Charoli has the advantage of being close to the all the main commercial, residential and hospitality sectors in Pune. The ease to transit to and fro from Charoli gives investors as well as end-users – especially businessmen and transferring executives – a logical alternative to Pune’s hyper-expensive city center. Airports have always been the catalyst of development – but for Charoli, other advantages include quick access to Pune railway station, a 7-kilometer drive to Kalyani Nagar and 8 kilometers to the high- end residential area Koregaon Park.
Charoli also lies along the recently-approved 170-kilometer Ring Road for the Pimpri Chinchwad area, and this guarantees a massive amount of demand in the future. While many other locations in Pune also feature integrated townships, not all profit from Charoli’s unique combination of advantages. Charoli is all set to become the most desirable location in the annals of Pune’s development, both in terms of real estate and infrastructure.