<!-- Facebook Pixel Code --> <script> !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '351567535614080'); fbq('track', 'PageView'); </script> <noscript><img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=351567535614080&ev=PageView&noscript=1" /></noscript> <!-- End Facebook Pixel Code -->

Sunday, April 13, 2008

Now, Chakan, hot real estate investment destination in Pune, has a new addition - Eiffel City, Boulevard township of 2 and 3 bhk flats and Villas

Nahar Riddhi Siddhi Developers, dealing in bungalow and farm house plots have formed a public limited company, Eiffel Developers and Realtors Ltd. and launched their first township Eiffel City in Chakan.

Eiffel City:

Eiffel City, as per the ad, is also Pune's first "Boulevard Township"! (Please, do not ask me what it means.) Rahul Nahar and Santosh Bhansali, of Eiffel Developers, are very much in a hurry to en cash the real estate boom in Chakan. So they have launched the project even when the brochure and the website is not ready. But they had enough time to invent attractive lables for the project. For example: "European Homes" "The Next Gurgaon" and "Boulevard Township"!

Property Prices:

But they have made a sample flat and a price list of 2 bhk and 3 bhk flats. Bookinbg rate of the flat, i have heard, is in the range of 2,100 to 2,300 rupees per sq.ft. Because, as usual, Eiffel City charges you for the view and the floor rise.

Areas of 2 bhk flat is around 750 - 870 sq.ft. and fits into the budget of 20 lakhs. 3 bhk flat is around 1250 sq.ft. and fits into the budget of 30 lakhs.

Real estate investment opportunity:

Interesting thing is only Eiffel Developers are not in a hurry, property buyers and real estate investors in Pune are also in a hurry to book a flat in Eiffel City. I have heard, around 100 flats are booked before the project is officially launched.

Chak de Chakan!:

If you are aware about the developments taking place at Chakan, ( besides "New Air Port at Chakan") you can understand the importance of this real estate investment opportunity. Here are few links for you which will give you fair idea about Chakan:
Chakan google map

1) Chakan: From outback to auto hub

Biggies such as Volkswagen, Daimler Chrysler, Mahindra & Mahindra and Bajaj Auto have bought space. Amongst the auto component manufacturers, Kalyani Lemmerz has announced capacity expansion and a new facility. Bosch, Auto Lines, Minda are already there, and an European firm ...
The Hindu Business Line

2) Objective: Host to leading industrial giants

Chakan industrial area near Pune is considered as one of the best. MIDC has developed this area which stretches to 246 hectares. Both basic as well as high grade quality facilities are in place. Provisions have been made for laying electricity, telephone lines and other service lines.

3) Mercedes-Benz to make 12,500 vehicles at Chakan

Mercedes-Benz India Private Limited, the Indian arm of Daimler AG, is looking at a total capacity of 12,500 units per annum, including passenger and commercial vehicles at its upcoming manufacturing plant in Chakan.
Financiale Express

4) M&M to invest 1500 crore in Chakan Greenfield

Mahindra & Mahindra, the leading Indian multinational, reputed for its association with the Indian automotive industry for 62 years, today signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to further boost their investment at its upcoming Chakan Greenfield project. The company will invest an additional Rs. 1500 crore to the already earmarked Rs. 2500 crore. The total sum of Rs. 4000 crore will be utilized towards the development and production of all vehicles slated to be rolled out from the proposed Greenfield.
Infibeam - Automobile & Mobile Industry News

5) VW to invest Rs 1k cr more in Chakan plant

Volkswagen AG, Europe’s largest car-maker, plans to increase investment in its plant at Chakan, near Pune, by 41 per cent to produce the Skoda Fabia for the market.

Volkswagen will spend a total ¤580 million (about Rs 3,500 crore or $910 million) building the factory, said Christina Merzbach, a spokeswoman at the Wolfsburg, Germany-based carmaker.

The previously announced figure was ¤410 million (about Rs 2,500 crore or $640 million).
Business Standard

6) Dow India establishing Global R&D Centre in Chakan, Pune

Dow India has signed an MOU with the Government of Maharashtra to set up a Global R&D centre at Chakan, Pune.The Centre is expected to be operational by 2008 and will employ 500 researchers by 2010. Initial project related activities are underway on the 100 acre land allotted to the Company by MIDC and more than 125 researchers are already employed and providing their talented skills and capabilities, operating in a rented facility.

7) Peripheral Locations High On Investment Opportunities

According to the Cushman & Wakefield - GRI India Real Estate Investment Report 2007: ?India Gaining Momentum" released today, 17 new corridors emerge as strong investment destinations for investors with different risk appetites.

As India enters the next phase of real estate growth, the exploration of suburban and peripheral developments of major cities as cost saving and risk diversification measures is emerging as a vital initiator for analyzing the potential investment opportunity within these emerging corridors. Hinjewadi, Manesar GST and Sriperembudur, Shamshabad, Devanhalli, Greater Noida, Panvel and Virar, Rajarhat Thane (Mumbai), Kokapet (Hyderabad), Bidadi (Karnataka), Chakan, Kharadi (Pune) Bantala and Tumkur Road are the 17 corridors that reflect high investment potential.
Cushman & Wakefield

8) Anuj Puri(Chairman & Country Head Jones Lang Lasalle Meghraj) Explodes Some Realty Myths

Pune demystified There are some myths that are particular to the growth of Pune. These need to be demolished as well.
Myth 1: Pune's real estate boom is driven entirely by IT and IT-enabled services.

Fact: It is true that this sector's increasing presence in areas like Hinjewadi, Kharadi, Phursungi and Hadapsar has enabled Pune to emerge the new IT/ITeS Mecca. However, Pune'e real estate market will also continue to benefit from its growing manufacturing sector. The immediate future will bring considerable growth in the traditional industrial locations of Chakan, PimpriChinchwad and Bhosari and the decisive emergence of hotbeds like Talegaon. Chakan will see the entry of Volkswagen, and New Chakan is the proposed site of Pune's new international airport. Meanwhile, General Motors has selected Talegaon for its new plant.

How to invest in Chakan real estate:

1) To invest in Eiffel City, please, contact:
Eiffel Developers & Realtors Ltd..
Head Office :
Mantri House, 929 F.C. Road, 1st Floor,
Pune- 411 004. ( India )
Tel : + 91 20 25666300. Fax : + 91 20 25666305
www.eiffel.in email : info@eiffel.in

Site Office:
Survey No. 1431, Chakan - Talegaon Road, Chakan.
Call: 91 99210 09354/55
SMS: EFL to 54646

2) To invest in Naiknavare's Dwarka, a Bharat Pattern township, please, contact:
Sales Office - Pune
1204/4, Ghole Road,
Pune - 411 005.
Phone : (91-020) 25533700, 25531525
Fax : (91-020) 25534286

Mumbai Office
1 Vidyabhavan Society
121 Keluskar Road
Above Gypsy Restaurant
Dadar (W)
Mumbai 400 028
Tel: +91-22-2444 0621
2444 0615
Fax: +91-22-2444 9414
Email: sales@naiknavare.com

U.S. Representative
Mala & Vilas Naiknavare
2900, South Mansion Drive,
# 211, Independence, Missouri 64055,USA
Phone & Fax No:
Cell No: 816-695-6070
Email: vilas@naiknavare.com

Middle East Representative (Bahrain)
Mr. Vincent Alphonso
Tel: 0097317341328, 0097317341628
Email: alphonso@batelco.com.bh

Middle East Representative (UAE)
Mr. Anil Pakale
Tel: 00971506242097
Email: anil.pakale@jci.com

3) Subscribe to my bolg by email or RSS, join my Google Group, call me on my mobile and yes! you can chat me on Google chat too!

Chak de Chakan!


  1. I have heard a lot about the Chakan area to be the preferred choice for real estate investors, so much so that I am plannin to invest there myself. I wonder if the prices here for new developments which fall between 2100-2400 per sft are inflated or its worth investing at this stage without fearing stagnation or depreciation similiar to one being felt in the Hinjewadi area. Any comments anyone?

  2. Realy Helpful. I am actually not convinced with the prices that prevail.as you can see most of the area surrounding is plain open land

  3. Chakan is An excellent option BUT not at these prices...not for sure.... These are inflated prices.. Even Talegaon is a good industrial area with presence of GM,JCB and many more but rates are at in the range of 1500-2000 which are resonable... so be reasonable while investing ur hard earned money.

  4. Hi Friends I am Nilesh I had invested in chackan back in 2008 when the rates were inflated by the top builders in pune and since I have also taken hit of Recession recently I decided to sell my apts (1 BHK, 626 sqft)and I sold it for the price which I bought 2 years back which was Rs2000/sqfeet so the prices which we are talking about is not the inflated ones but the ones which have stabilised after the ups and down of our realestate marketor the economy.
    I hope this will help some of the genuine buyers to take a decision to invest.
    Few suggestion to invest JK associates (where I had my apt, Naiknaware)

  5. hi, I want to rent my 2BHK flat.
    Location: Sara city, Chakan
    Advantage- Garden facing with car parking.
    Contact me @ 9850918270 (JAY)

  6. hi Friends, Chakan is going to be the mecca of Automobile Industry and International Ariport coming up would cherry on the icing. I work at Volkwagen, Chakan. The future at Chakan is extrmely Promising. Myself hv just got a 2bhk apartment at Eiffel City. Fabulous Project. I am happy with my decison.


    Sameer Dixit

    1. Sameer, I m interested in Eiffel City & Dwarka. Can you help me with the rates? I m a small investor. My budget is not more than 40 lakhs. I m a resident of Mumbai & wld like to invest in pune. Awaiting your reply.

    2. Hi Sameer, I am interested in Eiffel City. Could you please disclose the rate you bought the flat for?

      Thanks and regards,
      Sameer Bagade

  7. Nilesh can u please help us by disclosing at what rate/sq. feet did u purchse the property?