Budget housing in Pune - An overview

Published: November 23, 2009

Pune is a small but growing real estate market in western India. Vicinity to Mumbai, India’s financial capital, burgeoning IT sector, huge number of educational institutes, peaceful atmosphere and decent climate are some of the positive factors making Pune very attractive for a potential property buyer. With a lot of land being used up by army and universities, Pune doesn’t have a lot of free residential land available. Large percentage of hills in the city also make it more difficult market from property development perspective. Locality is always the key to any property purchase, and of course Pune is not an exception. We tried to search for some of the most interesting areas in Pune, that are reasonably affordable, as well as well connected to all the important amenities like hospitals and schools.

Kothrud- It is one of the fastest growing suburbs of Pune located in the south west of the city. With the rapid developments, this area has become one of the fastest growing residential localities of Pune. This place is inhabited by lots of students as many educational institutions like MIT and Cummins College of Engineering for Women are located in this area. In addition to that, it also houses various multi storied building, shopping complexes, restaurants, food joints etc. The area is well connected by Karve Road and Paud Road. There is a decent amount of resale real estate available in Kothrud.

Aundh- Aundh is the last part of the “core city”, before going outwards towards Hinjewadi IT park. After development of Hinjewadi in last 10 years, Aundh has grown its importance and is considered to be heart of the city, especially for people working in IT sector. Availability of malls, hospitals and schools make it very attractive, but slightly expensive option. There are generally decent number of resale options available in or nearby Aundh. Though not exactly a ‘budget’ locality, Aundh is certainly a good option for those who love to be among a young crowd.

Balawari - Balwari became known to everyone because of the stadium built for national games in 1994. After development of the Katraj bypass going to Mumbai, and Hinjewadi IT park, the entire region got a boost in terms of property prices and general economic development. Today, average residential property rates at Balewadi hover around 3000 Rs. per sqft, and it’s a good option for those who want to commute to Hinjewwadi IT park regularly, and don’t mind staying slightly outside the core city.

Kondhwa- It is amongst one of the oldest colonies of Pune city and lies in the south eastern part of the city. Kondhwa has the National Institute of Banking and Management (NIBM). Wanowrie area, under Kondhwa, houses huge Army medical set-ups like the Armed Forces Medical College (AFMC) and the Command Hospital and the Artificial Limb Center. It is easy to travel using public conveyance here, like city buses, six-seaters and autos. There are lots of fine housing complexes in the area.

Pashan and Baner - Baner and Pashan both saw a tremendous boost in development in last few years, because of ease of commute towards city center as well as Hinjewadi IT park. Pashan’s growth in terms of new development is slightly restricted because of presence of large number govt. organizations and the resulting lack of land availability. But interestingly, that also makes it kind of aloof from hustle and bustle of the city and whatever real estate is available there, is very much coveted. The rates vary from 5000 Rs. per sqft towards the university to around 3000 Rs. per sqft towards Chandni Chowk. Baner has a lot of new projects and the rates range from 3000 Rs. to 3500 Rs. per sqft.

Kharadi - On the other side (East) of the city, Kalyani nagar first saw a quick growth of IT and resulted into expansion of city horizons on Nagar road. Kharadi bypass, connecting the Nagar road to Hadapsar, saw real estate rates shoting up from measly 1000 Rs to around 3000 Rs. per sqft. We think there is a lot of growth potential in this region and investment can still be worthwhile.

Katraj- Another fast growing suburb of Pune is Katraj that is located in the southern part of the city. Katraj is quite well known for the campus of Bharti Vidyapeeth University, the Katraj Milk Dairy and the Katraj Snake Park. The New Katraj Tunnel here is a highway tunnel located on the NH4. The place is located at 10.2 Km from the Pune railway station.

Below are the average prices/rents per square feet for residential properties in the above mentioned localities as per Zamanzar’s database of property listings:

Best Residential Areas in Pune
Area Property Type Average Price Per Sqft (INR) Average Rent Per Sqft (INR)
Kondhwa Apartment 2687 11
House 2753 10
Katraj Apartment 2918 10
House 2814 9
Pashan 21 Apartment 3250 11
House 3161 11
Pashan 8 Apartment 3342 12
House 4742 12
Aundh Apartment 3931 15
House 6023 16
Kothrud Apartment 4805 12
House 3922 12
Balewadi Apartment 2814 10
House 3092 10
Kharadi Apartment 2971 9
House 3520 10
Baner Apartment 3749 12
House 4351 14

Best Residential Localities in Pune on Map

Posted under categories: Buying Property, Indian Real Estate, Property Rates
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About Zamanzar

Zamanzar Advisory Pvt. Ltd. is a real estate advisory firm located in New Delhi, India. We offer online property search tools and offline services to help complete the transaction. Our services cater to real estate buyers, renters, and sellers. Visit Zamanzar to find out more!

1 Comment so far

  1. R Satyanarayanan June 29, 2010 2:27 pm

    I have 2 BHK residential apartment for rental The flat is semi furnished like gas and cylinder, fans, tubelights, chairs, 4 cots and two cupboards, inverter etc. What is not there are only fridge, washing machine, dining table and micro oven. IT park Hinjewadi is the closest proximy and I look forward for this. This is located at Baner Road, Near Orchid School.

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