I have been looking for a 2 BHK flat at a decent price in Kothrud for the last 2 years, but nothing in budget. My budget is 35-40 L, but in Dahanukar Colony the current rates are around 55-60 Lakhs for a 2 BHK in Kapil Abhijat, and other new single buildings.
Commuting to office, I notice small empty plots in Mahatma Society, maybe 5000 - 6000 sq ft in size. This is an excellent bunglow society, purely residential. With 1 FSI, a 6000 sq ft plot gets us 4 3BHK flats (big size) or 6 2BHK flats (medium size).
Construction costs are in the range of 1400 per sq foot for small buildings (higher because economies of scale are absent).
But still, if we can create a small group and buy a plot and do construction ourselves, it is feasible.
I have absolutely no idea of land rates here and also the current FSI, but we can ask the local brokers. Buying land in Mahatma Society or Kothrud seems safer than buying land in Baner, Pimple Saudagar or Wakad.
I know that Insignia Pune and ITPWAP are already implementing this type of concept, but currently they are looking at bigger projects in different suburbs.