Here's Why Pimpri-Chinchwad's Ravet Is A Good Investment Destination

Pune is a great city to live in with perfect getaway locations in the vicinity, pleasant weather, IT hubs and ample entertainment options. While popular localities like Wakad, Undri and Wagholi have already proved their potential as strong residential hubs, Ravet of the Pimpri-Chinchwad region, is now gradually emerging as yet another promising micro-market for affordable housing in Pune.

PropGuide explores the major growth drivers for Ravet, as an upcoming housing hotspot.

Strategically located, Ravet is the first town after crossing the Mumbai-Pune Expressway. Situated in north-western Pune, Ravet is well-connected to other parts of Pune such as Pimpri, Chinchwad, Chakan and Talegaon. Areas like Aundh, Wakad, Hinjewadi, Baner, Pimple Saudagar are also easily accessible from the region. The township is nestled at the intersection of three major routes viz. Old NH-4 Highway, Katraj-Dehu Road and Mumbai-Pune Expressway.

The locality which also includes some rural areas, is being developed by the Pradhikaran-Pimpri Chinchwad New Township Development Authority (PCNTDA) . It forms an integral part of the urban agglomeration of Pimpri-Chinchwad and is witnessing huge construction activity nowadays. There is a high demand for affordable housing in Ravet. The average property price here is Rs 4,846 per sq ft.

There is ample availability of housing units in the mid as well as luxury segment. Development of affordable homes is gradually picking up pace, as well.

The Pimpri-Chinchwad industrial belt and popular businesses and IT hubs, are in the vicinity. They include the Hinjewadi IT hub, Bajaj Auto manufacturing plant, SKF, Telco, to name a few. The presence of commercial spaces has enhanced the job opportunities in the region and directly augmented the rental demand in the area. The average rental price of properties in the region is Rs. 13,750 per month (Starting at Rs 7,500 per month for 1 BHK unit) .

Some of India's finest educational institutions are present in the region, namely the Indira Institute of Business Management, DY Patil College and Mercedes Benz School. Besides, there are a gamut of restaurants to explore, clubs, malls, local markets and renowned multi-specialty hospitals like the Aditya Birla Hospital, etc. Owing to the inclusion of Pimpri-Chinchwad in the smart cities project, the city also boasts of upgraded civic amenities. Meanwhile, the PCMC is implementing plans for improving water supply in Pimpri-Chinchwad and has undertaken the task of resolving the issues, caused by rising water level at Pavana river dam.

A non-signaled four-lane BRT (Bus Rapid Transport) road offers easy access to the neighbouring town of Aundh and can be reached within ten minutes. Ravet is well-linked with the Pune International Airport, Chinchwad Railway Station and Pimpri Railway Station. Overcrowded buses are commonplace in Pune. However, the proposed metro rail line from Shivajinagar to Hinjewadi, is expected to relieve the locality from traffic woes.

Most of the properties are under different stages of development and promise strong price appreciation in future. Research experts at Proptiger suggest an appreciation of five per cent to six per cent in the near future.