Rate of Flats in Pune in Different Areas and How They will Vary in 2018
Pune is a real estate investor’s paradise. The vibrant cosmopolitan has witnessed the remarkable development in recent times. With the commissioning of Pune Metro and the materialization of Pune Municipal’s development plan, this smart city would compete with top notch cities in terms of public amenities.
Real estate sector would benefit the most from such developments. This also implies that the setback in real estate induced by demonetization would be negated and prices of flats for sale in Pune would be propelled on an upward trajectory.
Flats in Pune are slated to be costlier in 2018. The time is opportune for you to invest in residential properties before further price escalation.
Area Wise Rates of Flats in Pune in 2018
Flats in diverse locations across Pune are priced by factoring in several aspects. Prominent among them are quality of construction, state of public infrastructure in the area, ease of connectivity to cities like Mumbai, availability of jobs, greenery, closeness to schools and medical centers, proposed developments in future, coverage under upcoming Metro route, etc.
Areas with a significant unsold inventory of ready possession flats in Pune may experience comparative price difference with other in-demand areas momentarily. However, prices across the table are bound to increase by the end of 2018 with more start-ups preferring Pune over Mumbai as a favorable investment destination.
The livability quotient is rising rapidly with significant work being done to transform Pune into amenity rich smart city at the earliest.
Rates per square foot are highest in Kalyani Nagar, Aundh, and Shaniwar Peth due to high livability index (9.7/10). Average flat rates per sq.ft are INR 11,259, INR 9,972, and INR 10,765 respectively. Such high rates can be attributed to the optimum development of social infrastructure and commutation facilities.
Majority of apartment flats are priced in the range of INR 60-70 lakhs. Second and third positions are occupied by flats with average pricing ranges of INR 50-60 Lakhs and INR 30-40 lakhs respectively. If you are looking for villas, be prepared to shell out something in the range of INR 9 lakhs to INR 25 crores depending on the locality.
Competitively priced villas are available in Chinchwad Station Road, Yavat, Ghodegaon, Shirur, Bakori Road, etc. Lavish 3 bhk flats in Pune are fetching maximum prices in Boat Club Road, Kalyani Nagar, Koregaon Park, Dhayari, Tingre Nagar, Mundhwa, and Aundh.
Affordably Priced Flats in Pune
Pune is not only the favored destination of affluent class but for the middle and low-income group as well. Low budget flats in Pune are readily available for the latter category. Affordable flat listing is maximum in western Pune, Baner, Hinjewadi, and Bavdhan.
Top builders like Sancheti too have a number of ongoing projects in prominent locations across Pune in which you can invest without going overboard with your budget. 2BHK Flats with no brokerage are available in Wagholi and Keshav Nagar in affordable price spectrum.
Projections for 2018
Flats in Pune for sale are experiencing healthy QoQ (Quarter on quarter) upward price revision. In the past year, prices have gone up by 14% and the rental income of investors has also moved up by about 3.17%.
Ready to move in and under construction flats in Pune are sufficient in numbers for you to invest in before prices go up steeply. A smart decision on your part now would be rewarding for your pocket later.
Pune is on the cusp of massive infrastructural overhauling. Once the Pune Development Plan is officially rolled out and Metro route gets finalized, prices of real estate would be taken by storm.
Invest wisely now in prolific zones and sit back to experience a steady surge in your investment in coming years.