PUNE: Pune is expanding its horizons on all fronts, especially in the west. One upcoming location is Ravet, which is developing as the hot-spot for residential and commercial property. Anil Pharande, chairman – Pharande Spaces, says, “Ravet is located on the north-west side of PCMC and Pune, and enjoys a combination of advantages in terms of its location.”
It is the first town one encounters after leaving the Mumbai-Pune Expressway (which is why it is known as the ‘Gateway to Pune’) and is also a confluence point of the old NH4, the Katraj-Dehu road bypass and the Mumbai-Pune expressway. Moreover, it is located at an equi-distance from two major real estate market drivers – the Hinjewadi IT hub and Pimpri-Chinchwad Industrial Belt. At this strategic point, JNNURM has now launched a 45-metre, grade separated, non-signaled four lane BRT (Bus Rapid Transport) road that provides access to the key area of Aundh in under ten minutes. Pimpri, Chinchwad, Chakan and Talegaon, are now quite easily accessible from Ravet.
Suresh Nambiar, a resident, says, “One can call it a prime locality which has good residential and commercial projects. All basic amenities are also located nearby. The road connectivity is also good. As it is connected to Bangalore highway, it is really useful for people working in Talegaon and MIDC.” Ravet is just a 10 minutes drive from the upcoming international cricket stadium at Gahunje village. Many projects are being run by developers.
Since the current property rates in Pune tend to be unrealistically high, the highest demand is currently for affordable housing. Many investors have invested in this area, as it is close to the Akurdi Railway Station, the Hinjewadi IT Park and numerous B-Schools and Sentosa Water Park, for entertainment.
It is now among the most promising upcoming residential locations on the Pune property market, developed by the Pradhikaran-Pimpri Chinchwad New Township Development Authority (PCNTDA). Pharande adds, “As Ravet comes under PCMC and Pradhikaran, development here are in a good shape. Basic infrastructure will be good and will not hamper any residential or commercial project over here. So, investment here in residential as well as commercial properties, will prove its worth in the coming years.”
This area is potentially good for investors and very good to live in. There are multiple housing complexes coming up in the area and it is very well connected to major IT parks in and around Hinjewadi. Not only IT professionals, but this location is also suitable for students studying in management, engineering and medical colleges nearby. Major flat schemes from reputed builders are under construction in Ravet.
Apart from its accessibility, which in itself spells gold in real estate terms, there are other important establishments close to Ravet that add to its value as a residential location. These include the Aditya Birla Hospital, the Bajaj Auto manufacturing plant, Telco and major educational establishments, such as the Indira Institute of Business Management, DY Patil College as well as the Mercedes Benz School.
Its proximity to the Hinjewadi IT hub is of strategic importance, since this fact makes it a new and affordable residential location for software employees there. It is also a high value location for employees from the Talegaon MIDC and Chakan MIDC belt, as it is a binding location for these.
While speaking about Ravet, a local developer says, “In Ravet rates are low, and the appreciation potential is undoubtedly high. It is, therefore, not surprising that some major names from PCMC’s developer group have taken an active interest in this location. Ravet will reach a high level of investment and end-user potential in less than four years, after which, rates should show significant and steady upward movement.”
A representative of Vastu Build Corp says, “One of the primary reasons for the success of the integrated residential projects in the PCMC areas of Pradhikaran and Ravet, is the fact that these are located very close to vital workplace hubs such as the MIDC and Hinjewadi, Pune’s software hub. This, coupled with the advantages of having ‘everything inside’, has contributed to the demand for homes in such projects.”