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Flats Under 3 Crore for sale in Somnath Nagar Magarpatta, Magarpatta, Pune
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About Properties in Pune for Sale
About Pune
Thriving with IT Parks, automobile industries, and good educational institutions - Pune offers excellent residential housing and commercial properties. The presence of good employment opportunities has led to an increased demand for housing as well, in recent years. Moreover, the presence of good roadways, historic forts, and verdant greens make Pune a highly desirable place to live.
What also highly contributes to the increasing real estate demand here, is the advanced social infrastructure. From great healthcare to top notch schools & colleges and entertainment malls - Pune offers many opportunities for leisure, wellness, and growth. The connectivity is seamless and the proposed metro line is set to transform Pune in the future.
Moreover, properties in Pune by reputed developers offer a wide variety of flats that range from affordable to luxury property investment. Most importantly, the price appreciation in most areas of Pune is steadily on the rise. With the demand for housing & commerce increasing, investing in Pune's real estate sector could yield good returns in the long run.
About Pune Real Estate
After Mumbai, Pune is one of the leading cities when it comes to residential real estate. As per an Anarock report, Pune is the 3rd highest city to witness the most housing sales among the top 7 metro cities in India in 2022.
The East, South, & West micro markets of Pune usually garner a large demand in residential housing. This is mainly due to the presence of large IT parks in these locales, which attract working professionals in search of a home near these workplaces.
Sales in the affordable housing market are usually at 50%, while the mid-segment market has seen a significant rise in properties in Pune. In 2022, a large part of the housing sales in Pune were in the ₹45-75 lakhs price range. Sales in the luxury housing sector (above 1 crore) have seen a recent rise as well.
The aftermath of the pandemic had seen developers being cautious in releasing supply of new units. However, there was a massive rise in launch of units in the 4th quarter of 2022, which witnessed more than 150% YoY growth as compared to 2021. The inventory overhang was also one of the lowest in Pune in 2022.
In configuration type, the demand is higher for 2 BHK homes, especially in well-known micro markets such as Wakad and Kharadi. However budget wise, the demand for 1 BHK is higher for flats within ₹40 lakhs. Overall, the gap in demand and supply of properties in Pune is quite less, while the residential sales are doing well amid developer offers and government schemes.
Key Features About Pune
- Real estate prices are comparatively lower in Pune, when compared to Mumbai
- Stamp Duty Charges are 6% for female & 7% for males in Pune
- Registration charges in Pune are 1% for properties valued at less than ₹30 Lakhs and ₹30,000 for properties valued above ₹30 lakh
- Called the Oxford of the East, Pune features some of the top universities & colleges in India such as MIT, Symbiosis, University of Pune & Fergusson College.
- Pune also features huge IT hubs such as Kharadi, Hinjewadi, Magarpatta, and Wakad.
- Migration of students, business owners, and working professionals is high, which has increased the rental demand here.
- Pune-Mumbai Express Highway and National Highways 48, 60, & 65 provide excellent connectivity along with the Pune Suburban Railway System.
- 2 metro lines are partially operational in Pune - PCMC to Phugewadi (Purple line) & Vanaz to Garwai College (Aqua Line)
- The rest of the Pune Metro Line is under construction and will improve connectivity from PCMC - Swargate (Purple Line 1), Vanaz - Ramwadi (Aqua Line 2), and Hinjewadi - Civil Court (Line 3).
- There is a good presence of theme parks, beautiful forts, lush greens, & flowing rivers in the city.
- Wagholi, Talegaon, Kiwale, & Balaji Nagar are a few affordable locales here
- Popular mid-segment locales here are Shivaji Nagar, Hadapsar, Hinjewadi, Wakad, Pimpri-Chinchwad
- Erandwane, Model Colony, Kharadi, Magarpatta, Koregaon Park, Baner, & kothrud are a few premium locales in Pune.
- Pune is being developed as part of PM, Narendra Modi’s 100 smart cities programme
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Frequently Asked Questions
Which are the best areas to buy properties in Pune?
Which are the best areas to buy properties in Pune?
Some of the top areas to live in Pune are Bavdhan, NIBM Road, Model Colony, Koregaon Park, Hadapsar, Erandwane, Hinjewadi, and Kothrud.
Is Pune good for real estate investment?
Is Pune good for real estate investment?
Yes, Pune is good for real estate investment as it gives you access to the top IT parks and educational universities in India. Its good transport routes, quality housing, and lush greenery also make it a good place to live in as well. Pune is further being developed as a part of the smart cities program.
Which are the affordable places to live in Pune?
Which are the affordable places to live in Pune?
Wagholi, Talegaon, Kiwale, & Balaji Nagar are a few affordable residential properties in Pune.
Which are the top luxury properties in Pune?
Which are the top luxury properties in Pune?
A few notable luxury properties in Pune are -
1. Lodha Belmondo, Pavana
2. Sobha Nesara, Kothrud
3. Raheja Stellar, NIBM
4. Panchshil Towers, Kharadi
5. Shapoorji Pallonji Joyville Skyluxe, Hadapsar Annexe
Which are the top projects that offer villas in Pune?
Which are the top projects that offer villas in Pune?
Panchshil Yoo Villas in Wagholi & VTP Velvet Villas in New Kharadi are the top projects that offer villas in Pune.
What are some popular residential properties in Pune?
What are some popular residential properties in Pune?
Some of the most popular residential properties in Pune are -
1. Shapoorji Vanaha, Bavdhan
2. VTP Bellissimo, Hinjewadi
3. Shapoorji Joyville, Hadapsar Annexe
4. Godrej Nurture, Mamurdi
5. VTP Bluewaters, Mahalunge-Baner
Which are the new residential properties in Pune?
Which are the new residential properties in Pune?
Some new residential projects in Pune -
1. Kohinoor Tinsel Town, Hinjewadi
2. Kohinoor Westview Reserve, New Wakad
3. Kolte Patil Little Earth, Kiwale-Mamurdi Road
4. VTP Euphoria, Kharadi
Which are some ready to move in properties in Pune?
Which are some ready to move in properties in Pune?
A few properties in Pune that offer ready to move in flats are -
1. Panchshil Towers, Kharadi
2. Kohinoor Tinsel County, Hinjewadi Phase 2
3. Kohinoor Sapphire, Tathawade
Which areas of Pune are profitable for investment?
Which areas of Pune are profitable for investment?
The most popular localities in Pune which can prove good for investment are Wakad, Hinjewadi, Baner, Kharadi, & Hadapsar as they provide access to the top IT parks & good connectivity across the city.
What are some affordable projects in Pune?
What are some affordable projects in Pune?
A few affordable projects in Pune are -
1. Mahindra Happinest, Tathawade
2. Shapoorji Joyville, Hadapsar Annexe
3. Kolte Patil Life Republic, Hinjewadi
4. Godrej Serene, Mamurdi