Chakan is one of the fastest-emerging industrial and commercial hubs in Maharashtra. It is located approximately 30 km away from Pune and is one of the developing towns that has recently undergone rapid growth due to industrialisation, infrastructure development, and consistent investment interest. It is expanding at a very fast pace and is transforming the face of the real estate market in Pune, especially in the commercial segment.
Strategic Location and Connectivity
The major advantage of Chakan is its location on the Pune-Nashik Highway, which links it to Pune, Mumbai, ports, and airports. It is situated in the state’s ‘Pune Mumbai Nashik triangle’, which is a favourable place for trade and business.
The current and planned transport structures, like Pune Ring Road, Neo Metro Line from Nashik Phata to Chakan, and Pune Nashik Semi High-Speed Railway Line, are also improving accessibility. These developments assist in saving time and facilitate the transportation of cargo and the movement of the workforce, making Chakan an ideal place for industries and offices.
Role of Chakan MIDC in Commercial Expansion
Chakan MIDC (Maharashtra Industrial Development Corporation) is responsible for the commercial development. It is one of the largest industrial areas of the state and is home to many national and international companies such as Volkswagen, Mercedes Benz, Mahindra & Mahindra, Bridgestone, GE India, etc.
The MIDC zone is experiencing the development of office parks, logistics parks, and other support service providers. This steady flow is increasing the demand for good commercial properties, from large warehouses to mid-size offices.
Effects on the Real Estate Market of Pune
With an investment of ₹1.2 lakh crore in infrastructure, Pune is on the way to becoming a megapolis, and Chakan is on the anvil of becoming the most preferred destination for real estate developers.
This has been due to the expansion of industries and accessibility to the area, thus the need for both commercial and residential units.
The property prices in Chakan have risen by 5.36% in the one-year period up to 2023, thus contributing to 4% of housing sales in Pune in Q2 2023. This commercial interest has led to the development of projects that are aimed at logistics firms, MSMEs, and IT-support companies.
Moreover, Chakan is well connected to other emerging industrial zones like Talegaon Dabhade, Pimpri Chinchwad, and Moshi, which are in the neighborhood. This has further supported the argument for commercial investments in the area.
Commercial and Industrial Demand Drivers
The following are some of the factors that have made Chakan a consideration for the next commercial hub in Pune, as suggested by industry experts:
- Accessibility via national highways, ring roads, and the expressway.
- Availability of large industrial and logistics zones.
- Policies that have favoured the manufacturing and warehousing sectors by the government.
- Lower costs of land and operating expenses compared to those of the city centre locations.
- The availability of skilled labour from the residential areas and training institutions.
Table: Key Metrics for Chakan and Surrounding Areas
| Area | Avg. Sale Price (₹/sq. ft) | Infrastructure Drivers | Primary Segment |
| Chakan | ₹4,280 | Pune-Nashik Highway, Metro Neo, Ring Road | Industrial, Commercial |
| Talegaon Dabhade | ₹4,300 | NH-60, DMIC corridor | Warehousing |
| Pimpri-Chinchwad | ₹6,550 | Metro Line 1, Auto Hub (Tata, Bajaj) | Mid-income, Factory setups |
| Wagholi & Moshi | ₹6,200 (Wagholi), ₹5,800 (Moshi) | PMAY housing, Peripheral expansion | Affordable |
| Kharadi | ₹10,400 | IT parks, Metro Line 4 | IT-Commercial |
Investor Outlook and NRI Interest
Chakan’s performance and fundamentals are stable, and these factors are making it attractive to institutional and individual investors. Compared to other premium city zones such as Baner or Kharadi, Chakan has relatively low entry barriers and hence has a higher RoI in terms of rental yield as well as capital appreciation.
It is also worth noting that nowadays, NRIs have also developed an interest in Chakan for long-term investment. Due to the devaluation of the INR and the stabilisation of the Indian real estate market, mid-size commercial buildings and warehousing spaces in Chakan are viewed as long-term investments.
Role in Pune’s Future Development
The development of Pune as a diversified economic city is highly contingent on the performance of its satellite zones. Chakan thus has a great role to play in this regard by contributing to industrial production, employment, and decentralisation of commercial activities from central Pune zones.
Thus, with the further development of PMRDA, Chakan, Talegaon, and Moshi are expected to become the region’s commercial hubs. This also aids in reducing the congestion in the central part of Pune and, at the same time, ensures that the spatial distribution of economic activities is well-balanced.
Demand for Customised Commercial Spaces
Another emerging trend is the requirement for specific commercial units in Chakan. This is because, with the establishment of car manufacturers and logistics companies in the region, the need for such facilities has been realised. To meet these requirements, developers are now designing modular industrial parks, cold storage, and smart warehouses.
This flexibility in design and space utility is giving Chakan an added advantage over the conventional commercial zones that are rigid in their layout and expensive to develop.
A New Commercial Project on the Horizon
Based on this growth, Naiknavare Developers is planning to introduce a modern state-of-art commercial project in Chakan. The new development will meet the area’s needs for smart and flexible business infrastructure and help Chakan maintain its role as a key commercial area.
Conclusion
Chakan is no longer a mere industrial city but is slowly transforming into a commercial hotspot. This is because of infrastructure development, employment opportunities, and constant real estate development in the area; hence, the growth of the area is expected to be steady.
Chakan is a low-risk, high-return proposition for developers and investors who wish to tap into this growth. Developers like Naiknavare fulfill the requirement for quality commercial spaces for business growth.
As the population of the city of Pune continues to grow, Chakan will be one of the areas that will determine the economic and real estate growth of the region.
Reference:
https://menlorealty.in/unveiling-the-brilliance-of-chakans-potential-for-investment-business