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Pune Locality, Property Rates and Price Trends

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Pune Locality, Property Rates and Price Trends

Last updated: April 19 2018
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  • Pune Locality, Property Rates and Price Trends

    The demand in Pune is generally for ready-to-move-in properties and despite the slowdown, the Pune real estate market has remained resilient due to a high demand from the IT/ITeS sectors. It has also witnessed considerable demand from non-resident Indians (NRIs), as it has provided stable returns on investment and handsome rentals.

    Though Pune has always been an affordable residential destination, in recent times homebuyers say that prices have scaled up due to infrastructure development and available jobs.

    Property prices in Pune have climbed up in the last one year by 14 per cent while the rental yield has been at 3.17 per cent.

    There are 1,129 ready-to-move-in projects for sale in Pune while 275 are in various stages of construction.

    Top localities in Pune:
    Aundh - Average property price is Rs 9,972 per sq ft.
    Kalyani Nagar - Property values at Rs 11,259 per sq ft.
    Shaniwar Peth – Average prices are at Rs 10,765 per sq ft.

    3,686 properties listed with maximum properties in Rs 61-71 lakh budget range.
    Another 3,553 units are in the Rs 51-61 lakh price range
    Budget range has 2,996 properties in the Rs 34-43 lakh price range.

    Villas:
    2070 Villas listed – starting at Rs. 9 lakh and up to Rs. 25 crore.

    Localities with affordable Villas:
    Yavat, Saswad Road, Shirur, Manchar, Rajgurunagar, Ghodegaon, Chinchwad Station Road, Bakori Road etc.

    Lavish Villas:
    Tingre Nagar, Aundh, Koregaon Park, Kalyani Nagar, Mundhwa, Dhayari, Boat Club Road and Kharadi to name a few.
    ptions.

    Here are the zonal top localities:

    East Pune - Mundhwa has the maximum options when it comes to property for sale and rent.
    Pune West - Hinjewadi, Baner and Bavdhan have most number of property listings while Baner, Hinjewadi and Kothrud are popular when it comes to the rental market.
    Pune North - Dhanori, Chakan and Tingre Nagar have maximum property choices if you are looking at a property for sale or rent.
    South Pune - Undri, Kondhwa and Dhayari are most popular when it comes to rent or buy.

    Shastri Nagar and Keshav Nagar are other bankable locations with a lot of property options.

    ............................

    The figures are taken from one source and may vary from source to source. Members are more than welcome to give their real time inputs.
  • #2

    #2

    Re : Pune Locality, Property Rates and Price Trends

    That's a good report. Thanks. Could you please quote your sources of information too. Those will be helpful for us to validate.

    Thanks again!
    Last edited April 15 2018, 12:00 PM.

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    • #3

      #3

      Re : Pune Locality, Property Rates and Price Trends

      dandekar.abhay - well, this piece was actually compiled from two or three different web portals, keeping the average figures and information as base. You can check any of the online portals as they will have enough information available.

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      • #4

        #4

        Re : Pune Locality, Property Rates and Price Trends



        I differ - I am from IT management. Here, IT market is still at very high risk and most of the companies are not giving appraisals. So taking home loan seems very risky now. Things were good 5 years back. There are many resources who are not having jobs. 68,000 IT resources are fired in Pune.

        It resulted into 10,000+ resale flats, where they are trying to liquidate whatever they have and return to home town. I met many of them.

        Previously, most of the purchase by IT employees are with support of money saved at Onsite. Now after Trump, it is not an option.

        So there are chances of bubble creation if things go worse - however, it will happen only if government is not interested in real estate.

        Only hope - is PMAY, where government is giving significant subsidies and that can result into affordable housing.

        Hope for the best, but prepare for the worst. Best advice is to not wait for some miracles and sell flat at little discount and get over it. For next project, you can encash post metro - FSI is already increased to 4 in many parts.

        Many builders - e.g. majestic are able to sell just by giving 15-20% discount.
        Prices drop in Pune for 2017-18 is 4%. In total 10% in last 3 years.

        http://indianexpress.com/article/cities/pune/6-pc-dip-in-real-estate-sales-last-year-almost-60-pc-new-launches-are-budget-homes-5107974/

        Last edited April 19 2018, 05:08 PM.

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        • #5

          #5

          Re : Pune Locality, Property Rates and Price Trends

          See newer ads by builder with lower overall price in Hinjewadi Ph-3. Does not look like prices up. PropEquity's Jan-Mar 2018 report says builders negotiating on price by way of discounts, free-bees for sales. Average RE price fell by %7 in metro-cities. No.s of new launches also gone down in Pune.
          Looks like 12% GST on UC property and MahaRERA rules has dented spirits.






          Last edited April 19 2018, 07:12 PM.

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