Are you searching for the ideal area to purchase a flat in Pune in 2021? Unsure of which locality offers the best investment potential? In this blog, I’ve highlighted the top 10 localities in Pune that are perfect for apartment purchases.
Maharashtra has led the way in the efficient enforcement of RERA, positively impacting the real estate landscape and boosting consumer interest significantly. This has provided a substantial uplift to Pune’s real estate market thanks to enhanced transparency and responsibility. The housing market in Pune has managed to maintain its momentum even amid tough economic times. Recent studies indicate that Pune has evolved into one of the most effective residential real estate markets around.
Besides being a favored choice for retirees, Pune has also become an attractive location for families and young professionals alike. Thus, for anyone looking to settle down in this vibrant city, this article is tailored for you. I’ve carefully chosen some of the best areas to invest in Pune, taking into account resident feedback, proximity to essential social and career hotspots, and ease of access to the airport and railway stations.
Best Areas to Buy a Flat in Pune | Top Localities for Investment in Pune 2021
1. Baner
Located in Pune’s northwest region, Baner is a bustling residential and commercial area adjacent to the Mumbai Highway. Nearby locales include Balewadi, Pashan, Mahalunge, Aundh, and Sus. Demand for housing is largely driven by professionals from local software firms and nearby employment hubs, such as the Rajiv Gandhi Infotech Park in Hinjewadi.
Connectivity: The area enjoys excellent road connectivity via Baner Road, Mumbai Highway (NH-48), and Pashan-Sus Road. A reliable public transportation system links it to various Pune neighborhoods. Pune Junction is about 12 km away and Pune International Airport lies 18 km from Baner, reached comfortably in about an hour. Additionally, the proposed 23.3 km metro line 3 (Hinjewadi Phase III – Civil Law) promises to enhance connectivity in the vicinity, improving overall infrastructure as well.
Rajiv Gandhi Infotech Park is intimately connected with Baner, featuring a large tri-phasic employment center in Hinjewadi. This local area hosts significant IT/ITeS and BPO sectors along with some biotechnology and automobile companies, including Cognizant, Infosys, Wipro Technologies, Tata Consultancy Services, and Capgemini, thereby making it an ideal spot for flat purchases.
Price of Flat in Baner: The starting price for apartments in Baner is approximately Rs 6,000/sq ft, soaring up to Rs 9,400 per sq ft.
Check Out: - Flat for Sale in Baner
2. Viman Nagar
Viman Nagar derives its name from its proximity to Pune Airport, a mere half-kilometer away. This locality is regarded as one of Pune’s more upscale neighborhoods, bordered by Mhada Colony and Kargil Vijay Nagar. It is flanked by Pune Airport to the north, Sanjay Park to the west, Kargil Vijay Nagar to the south, and Tata Nagar to the east.
Connectivity: This area enjoys robust connectivity via the Pune-Ahmedabad highway. Pune railway station is just 8 km away, with Pune International Airport only 0.5 km distant, validating its position as a prime investment area in Pune. The upcoming Ramwadi metro station on line 2 of the MahaMetro line is anticipated to enhance local access and expected to open in 2023. Nearby employment hotspots such as Koregaon Park, Kharadi, Tingre Nagar, and Mudhva fall within a 5 to 10 km radius, solidifying Viman Nagar’s status as an ideal location for real estate investment. The retail markets and offices largely populate main roads like Samrat Ashok Road, Symbiosis Road, and Viman Nagar.
Price of Flat in Viman Nagar: Prices for flats in Viman Nagar range from Rs 6,700/sq ft to Rs 10,200 per sq ft.
Check Out: - Flat for Sale in Viman Nagar
3. Hinjewadi
Hinjewadi stands out as one of the largest IT hubs in Pune today, making it a sought-after real estate destination. The area has abundant premium and middle-class housing projects, establishing it as one of the best places to invest in Pune. Excellent connectivity to nearby IT parks in Baner and Aundh, along with the Pune-Bangalore ring road and Mumbai-Pune highway further cements its appeal.
Connectivity: The government plans to implement a metro line linking Hinjewadi with Shivajinagar, aiming to reduce traffic during peak hours. Hinjewadi boasts a safe environment, augmented by widespread CCTV coverage. Furthermore, it houses several reputed educational institutions like Euro Kids and Indira School of Career Studies. Hinjewadi serves as a vital junction for accessing Mumbai, Bangalore, and key Pune areas via the Mumbai-Pune Expressway and Pune-Bangalore bypass. Pune Airport is located 25 km from the Hinjewadi Aundh highway, reinforcing its position as the best area to buy a flat in Pune. Notable IT parks situated here include Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park, and Blueridge, attracting numerous IT workers from across the nation.
Price of Flat in Hinjewadi: The starting price is Rs 4,600/sq ft, reaching up to Rs 6,800 per sq ft.
Check Out: - Flat for Sale in Hinjewadi
4. Kharadi
Kharadi is a significant locality positioned east of Pune, bordered by the Mula Mutha River, seamlessly connected via the ring road, ensuring accessibility to both the Pune-Solapur National Highway and the Mumbai-Ahmednagar Highway. Public transportation is highly convenient, with numerous bus services available, making this beautiful area perfect for investment in Pune. Residents can easily connect to all major industrial zones in the city from here.
Connectivity: Kharadi is close to essential locations such as the airport and residential areas like Cyber City and Koregaon Park. Its excellent road infrastructure ensures easy access across Pune. This developing IT hub is home to burgeoning sectors spanning IT, hospitality, education, and retail. It connects sizeable neighborhoods like Kalyani Nagar, Mundhwa, Viman Nagar, Wagholi, Hadapsar, and Koregaon Park. Prominent IT parks such as WTC, Zensar, and EON are major attractions here, affirming Kharadi as one of the best areas to buy a flat in Pune. The prevailing infrastructure is robust, featuring quality healthcare facilities.
Price of Flat in Kharadi: Kharadi offers affordable housing suitable for homebuyers and investors alike. Its vibrant rental market also promises lucrative returns. Prices for flats begin at Rs 5,700/sq ft, climbing up to Rs 8,500 per sq ft.
Check Out: - Flat for Sale in Kharadi
5. Undri
Undri has blossomed as a favored destination for builders with its remarkable projects. The area stands out for its robust city roads and highway links. While Undri has rapidly developed in recent years, it has managed to preserve its natural beauty and charm. Nestled near the Hadapsar Industrial Zone and Swami Vivekananda Industrial Zone, Undri has emerged as a prime location for real estate investment in Pune. Diverse industries from automobiles to electronics, biotech, chemistry, pharmaceuticals, textiles, and more are making a mark here.
Connectivity: Neighboring localities include Purandar taluka to the east, Velhe taluka to the west, Pune taluka to the north, and Pimpri-Chinchwad to the south. The Mumbai-Pune ring road and NH-9 are easily accessible from Undri, enhancing its appeal as an ideal flat-buying location. The airport is a convenient 12 km away, with the nearest railway station just 8 km off. Shopping enthusiasts will appreciate the presence of big malls like Seasons Mall and Dorabjee’s Mall in close proximity. Major highways such as Mumbai-Bangalore, Pune-Saswad, Mumbai-Hyderabad, and NIBM Highway add to its attraction. Pune Junction and Hadapsar railway station can be reached in just 20 minutes from Undri. Additionally, the proposed Greenfield International Airport in Saswad Purandara will be about 22 km from Undri.
Price of Flat in Undri: Prices for apartments in Undri range from Rs 4,000/sq ft to Rs 6,100 per sq ft.
Check Out: - Flat for Sale in Undri
6. Hadapsar
Located in the eastern quadrant of Pune, Hadapsar is one of the most advanced and desirable residential zones in the city, suitable for entire families. Formerly known for its agricultural land, Hadapsar has transformed tremendously. Today, it houses many leading corporations like TCS, IBM, Accenture, and SAS. The Magarpatta city and Fursungi IT Park are well-recognized landmarks in this area. From a residential viewpoint, Hadapsar boasts numerous entertainment and recreational options, alongside rapid real estate growth, making it an ideal living location.
Connectivity: Hadapsar provides connectivity to key cities like Nagpur and Mumbai via NH 9 and NH 27. The railway station is merely 4 km from Hadapsar, with the airport a further 14 km away. Once an agrarian landscape, Hadapsar's evolution into Pune's IT hub underlines its status as an optimal investment area.
Price of Flat in Hadapsar: The price range for flats here begins at Rs 5,300/sq ft and can peak at Rs 9,000 per sq ft.
Check Out: - Flat for Sale in Hadapsar
7. Balewadi
For those searching for a new home while keeping budget constraints in mind, Balewadi offers numerous options. The locality is recognized for providing some of the most affordable housing within its segment, accommodating both families and individuals alike.
Connectivity: Situated to the northwest of Pune, Balewadi lies on the outskirts of the city and is known for the Shiv Chhatrapati sports complex. Its proximity to Baner, Aundh, and the Mumbai-Pune Expressway makes Balewadi’s real estate highly appealing, solidifying it as a prime area to buy flats in Pune.
Price of Flat in Balewadi: Apartment prices in Balewadi range from Rs 6,000/sq ft to Rs 8,900 per sq ft.
Check Out: - Flat for Sale in Balewadi
8. Kondhwa
Kondhwa ranks among the oldest residential sectors in Pune’s southeast. It features newly developed areas and stands among the rapidly growing suburbs of Pune. Connectivity to Pune Railway Station and Baner Airport makes it highly convenient for residents.
Connectivity: NIBM Road, spanning 3.5 km, links Kondhwa Road with the Katraj-Hadapsar city road, emerging as a preferred destination for investors. Outstanding transport facilities, planned development, and ample infrastructure availability elevate property demand in this area, leading to a notable increase in real estate prices, making it an attractive investment spot.
Price of Flat in Kondhwa: The price range for flats in Kondhwa starts from Rs 4,500/sq ft and can go up to Rs 7,100 per sq ft.
Check Out: - Flat for Sale in Kondhwa
9. Mundhwa
Mundhwa is situated in eastern Pune, bordered by the Mula River to the north, Manjri to the east, Ghorpadi to the west, and Hadapsar to the south. This locality has emerged as a prime choice for buyers seeking affordable housing options. Despite its location on the city fringes, Mundhwa boasts excellent connectivity, making it a highly sought-after area for property investment.
Connectivity: Mundhwa has gained popularity as an affordable investment hub in Pune. It's close to various IT parks and well-situated amidst green zones, enhancing its appeal to homebuyers. This locality offers a variety of real estate options, making it the best area to buy flats in Pune, catering to everyone’s price range.
Price of Flat in Mundhwa: Prices for apartments in Mundhwa start at Rs 5,100/sq ft and can rise up to Rs 7,500 per sq ft.
Check Out: - Flat for Sale in Mundhwa
10. NIBM Road
NIBM Road has become a prime residential destination in Pune, known equally among homebuyers and rent seekers. Factors contributing to its popularity include strong infrastructure and competitive housing prices. This area enjoys excellent connectivity with direct access to Hadapsar, Magarpatta, Kondhwa, and Kalyani Nagar, along with a wide range of modern conveniences.
Connectivity: While NIBM lacks an in-house IT park, it’s conveniently close to neighboring tech hubs. For instance, Magarpatta IT Park sits just 8 km away along Solapur Road. Globally recognized MNCs such as HCL Technologies, Capgemini, and Mphasis have established a strong presence at Magarpatta. NIBM also features seamless connectivity to Hadapsar via Vitthal Rao Shivarkar Street and Mumbai Highway. Several manufacturing companies and IT employers, including Serum Institute of India Pvt. Ltd., Maruti, IB Automation, and Kirloskar Pneumatic Company Ltd., underline NIBM’s attractiveness for investment in Pune.
Price of Flat in NIBM Road: The price range for flats on NIBM Road spans from Rs 5,200/sq ft to Rs 7,700 per sq ft.
Check Out: - Flat for Sale in NIBM Road
Conclusion:
This blog has detailed some of the best localities to purchase a flat in Pune. The flat price insights shared are based on thorough research and may vary from existing rates. Always consider your budget and requirements before making an investment. The ongoing pandemic has altered plans for buyers and investors alike. However, as evidenced by rising property prices in these areas, significant improvements owing to infrastructure projects loom on the horizon.