By SRIKANTH C
In the present year, we’ve noticed a significant trend where regions serving as commercial centres, especially those near major cities, have evolved into significant residential areas. Chakan in Pune is a prime illustration of this shift, well-known as an automobile hub. This locality has not only attracted residents from Pune but also from Mumbai, mainly in search of job opportunities.
The increase in people relocating to Chakan for employment has spurred extensive development in the region. This extends beyond the mere expansion of residential properties to include the establishment of retail stores, hospitality services, healthcare facilities, and educational institutions. This all-encompassing growth is a result of the rising population and the demand for essential services and amenities.
Outlook for 2024
As we anticipate the year 2024, it seems likely that this trend will not only endure but may also gain momentum. The connection between thriving commercial activity and the influx of residents seeking homes nearby is poised to persist, exerting a continued influence on the real estate scenario.
With the expansion of commercial hubs and the attraction of more businesses, the subsequent increase in job opportunities is expected to fuel the creation of extensive residential spaces equipped with essential amenities and infrastructure. This emphasizes the ongoing symbiotic relationship between commercial activity and the growth of residential real estate, making it an opportune time to consider investing in a home in Chakan. (The author is Managing Director, Intercontinental Infrastructure)
