Published at: September 14, 2023
Satellite city
As per Wikipedia, satellite cities or satellite towns are smaller municipalities that are adjacent to a major city which is the core of a metropolitan area. As a city grows, certain problems like population explosion and traffic congestion rise hand in glove. To provide a life streets ahead to its citizens, a satellite city is developed.
Pune must be the only city (or district) to be governed by five different civic bodies: 3 cantonment boards, PMC & PCMC.
Pimpri Chinchwad Municipal Corporation (PCMC)
Pimpri Chinchwad Municipal Corporation is located in the south-east of Mumbai and north-west of Pune. From 1.5 lakh in 1986 to 22 lakh in 2016 to 74 lakh in 2020, PCMC is one of the fastest growing cities in the country.
Economy and employment
The credit for urban sprawl in PCMC goes to the industrial belt: automobile companies, manufacturing companies and auto-ancillary firms. In recent past, several IT and IT-enabled firms have also augmented here. As of day, PCMC houses above 4000 industrial units inclusive of small and medium-scale enterprises (SMEs) and multinational companies (MNCs). These generate oodles of employment opportunities continually. Latterly, the Centre for American Entrepreneurship awarded PCMC with the title ‘emerging global start-up hub.’
Infrastructure
Right from health care facilities to educational institutions to recreation centres, PCMC has them all. Well maintained wide roads, ample clean water supply, electricity, telecommunication, sewerage, solid waste management, slum rehabilitation and housing for economically weaker sections are few of the many services that efficiently support the livelihood of citizens here.
Real Estate
Blue-collar employees of the industrial belt are the major demand creators for first-home buys. Wherefore, there was a notion that this region is apposite for the lower and mid-segment citizenry. However, many established developers have washed off this belief by launching premium and high-quality residential projects. Bargain hunters who look forward to capital appreciation have coined in megabucks by investing in realty in PCMC.
PCMC v/s Pune
PCMC is a paragon in terms of property investment potential as well as residential lifestyle quotient. Here, demand rises steadily and quality supply is replenished. This territory also surpasses Pune in the number of integrated townships offering a luxurious lifestyle to its occupiers. Needless to say, PCMC makes five times more than it vis-à-vis revenue.
PCMC & Pune v/s others
Pimpri-Chinchwad is soon to be the only satellite city of Pune. Pune and Pimpri-Chinchwad have scored over their competitor cities in terms of price appreciation and sales rate.
PCMC has developed as a micro-market in the story of Pune and has the capacity to leave imprints on the real estate books of the city!
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