Buying your dream home involves a lot of research regarding locality, weather, accessibility, and interiors. When you’re looking for real estate investment in Pune you don’t buy the first house you see. There is plenty of research that goes on before you make a huge decision like this. You need to look at housing market predictions in 2024, housing trends in 2024 as well as the best places to invest in Pune this year, to be sure of your budget and several considerations like price inflation over the past year.
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Knowing that the market of real estate in Pune is so hard to maneuver, NoBroker has decided to bring some ease and transparency into the market by creating a Real Estate Report. This report contains insights from over 10 million customers who use our platform. To find out more, we even designed a comprehensive survey that had 17,652 respondents. We combined all this data to help you get a clear forecast of the market in 2024 for Pune. Here, we will look at trending localities you can invest in and which localities are not doing so well. So, if you are wondering about the best place to invest in property in Pune, read on!
Top-Performing Localities of Pune in 2024
many localities that once did well slowly slipped from the top spot, and some that you would not expect to do well surprised us. But which is the best area in Pune to buy a flat this year? To answer this question and more, here are the localities that saw the most interest from buyers in the year 2024 and are a safe bet in 2024.
Wakad
Located near the Rajiv Gandhi Infotech Park of Hinjewadi, Wakad is a great emerging neighbourhood for techies and residential populations to live in with all the necessary amenities provided by the Pimpri Chinchwad municipal corporation.
Pimpri-Chinchwad
Located in the northwestern part of Pune, Pimpri-Chinchwad has not only all the municipality amenities but is also one of the major industrial hubs in all of the Asian continent. This means residents in the locality will have access to all the major modern developments available to citizens in the nation.
Pimple Gurav
Located in the northwestern part of Pune, Pimple Gurac has several scenic neighbourhoods off the National Highway 48 as well as several vital railway lines. Its good connection to transport hubs and citywide infrastructure makes it a great residential destination.
Wadgaon Sheri
Mostly a commercial and residential hub of Pune in the heart of Pune, Wadgaon or Vadgaon Sheri is an upscale neighbourhood, with strategically posh areas like Kalyani Nagar and Viman Nagar nearby.
Kothrud
Always a preferred upscale residential market, Kothrud has been the centre of rapid expansion and development. Which is why maybe it is also known as the capital of Pune itself. You may consider it to be the best place to buy a plot in Pune.
If you compare the top localities from 2022 to the ones from 2021, you’ll notice that Waked, Kothrud, and Pimpri-Chinchwad have held on to their top spots and the two new entries are Pimple Gurav and Wadgaon Sheri.
Hinjewadi
Hinjewadi, located in Pune’s western suburbs, stands out as a real estate powerhouse in 2024. Home to India’s largest IT park, the Rajiv Gandhi Infotech Park, and a vibrant community of IT firms and educational institutions, it’s a magnet for both residential and commercial Pune investments. Its top-notch infrastructure, strategic location connecting major IT hubs, and the flourishing IT industry make Hinjewadi an irresistible choice for real estate investors. With government-backed infrastructure development and a rising demand for quality housing, Hinjewadi is the ultimate destination for savvy investors in Pune.
Baner
Baner, situated in Pune’s western suburbs, will take center stage as a premier real estate investment locale in 2024. This upscale area, home to a thriving IT sector and educational institutions, boasts soaring demand for both residential and commercial properties. Its robust infrastructure, excellent connectivity, and proximity to key IT hubs like Hinjewadi and Pimpri-Chinchwad, make it a prime choice. With the IT industry’s ongoing growth, government-backed infrastructure development, and a rising demand for quality housing, Baner presents an irresistible opportunity for savvy real estate investors in Pune.
Hadapsar
Hadapsar, situated in Pune’s eastern suburbs, will take the spotlight as a top-performing real estate investment destination in 2024. Boasting a thriving IT sector and educational institutions, it’s a magnet for residential and commercial property demand. With a diverse property mix, strong infrastructure, and strategic connectivity to IT hubs like Hinjewadi, Hadapsar is not just affordable but also offers proximity to essential amenities. As the IT industry continues to surge and the Maharashtra government invests in infrastructure, Hadapsar is poised for significant growth, making it an attractive choice for savvy real estate investors seeking high demand, quality infrastructure, and proximity to key IT centers in Pune.
Magarpatta
Magarpatta, located in Pune’s eastern suburbs, stands out as a top real estate investment hub in 2024. Home to thriving IT companies and educational institutions, it enjoys strong demand for residential and commercial properties. With excellent infrastructure, connectivity to major IT hubs, and a well-planned layout, Magarpatta offers a high quality of life. Its future shines brighter, driven by the IT industry’s growth, government infrastructure investments, and the rising demand for quality housing. For Pune real estate investors seeking a blend of demand, infrastructure, and proximity to IT centers, Magarpatta is the place to be.
Balewadi
Balewadi, in Pune’s western suburbs, will emerge as a premier real estate investment destination in 2024. Home to the prestigious Balewadi Sports Complex and a thriving working population, it fuels robust demand for both residential and commercial properties. With excellent infrastructure, including connectivity, renowned educational institutions, healthcare facilities, and shopping centers, Balewadi presents an enticing package for investors and end-users. Its pleasant climate, scenic beauty, and proximity to the Mumbai-Pune Expressway further enhance its residential appeal. As the IT industry continues its rapid growth and government investments in infrastructure escalate, Balewadi promises substantial potential for real estate investors seeking a harmonious blend of demand, infrastructure, and quality living in Pune.
Top Micro-Market in Pune in 2024
Micro-markets are pockets where despite what was happening in the market, they saw unique patterns of demand and growth. These localities saw an increased interest from homebuyers in Pune and saw an appreciation in terms of value. They are –
- Dhanori
- Chikhali
- Kharadi
- Chinchwad
- Warje
If you’re wondering where to buy a house in Pune in 2024, this data will help you make a decision. These localities are likely to remain popular and see demand growing.
Top Localities for Renters in Pune in 2024
This list is formed by compiling data from over 7 million NoBroker customers and from 12546 respondents to our survey. Renters have the flexibility to shift homes as often as they want, if fact, our survey showed that over 40% of them shift homes because of their office location, so this could be a reason why these are the trending localities for rent in Pune. The data gathered can show you how the city is growing and what key areas are seeing the most growth.
Wakad
Located near the Rajiv Gandhi Infotech Park of Hinjewadi, Wakad is a great emerging neighbourhood for techies and residential populations to rent a home with all the necessary amenities provided by the Pimpri Chinchwad municipal corporation. It is often considered to be the best location for property investment in Pune.
Read: Best Places for Property Investment in Mumbai 2024
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Kharadi
This suburb in the eastern metropolitan corridor of Pune serves as a vital hub of IT and business parks, making it a great residential area to rent a flat in.
Baner
This suburb is located in the western metropolitan corridor of Pune with several scenic locations including the popular Baner Hill.
Ravet
Located at the intersection of the Mumbai-Pune Expressway and the Katraj Dehu Bypass, the suburb of Ravet is a popular residential area to rent a home for IT professionals.
Viman Nagar
Affluent retail and residential neighbourhood in the Eastern Metropolitan Corridor of Pune, Vimannagar has always been a very sought-after locality to rent a home or even office spaces.
It is clear that localities like Wakad and Kothrud are favourites of both buyers and renters, these localities have seen rapid expansion and the local authorities have encouraged many residential and commercial establishments to come up in these areas. The other best areas in Pune for property investment include places like Hadapsar, and Kharadi, as they attract renters as the most tech parks and offices are here. The last on the list is Wagholi which is gaining importance due to the upcoming metro and commercial establishments as well as the many plans of the Pune Metropolitan Region (PMRDA).
Popular Localities for Rent in Pune that have Seen an Increase in Rent
Few localities have seen a growth in demand and rent that is charged, these areas are –
- Hinjewadi– rent increased by 18.75%
- Kharadi – rent increased by 16.37%
- Wakad – rent increased by 9.99%
- Dhanori – rent increased by 7.88%
- Pimple Saudagar – rent increased by 6.88%
With an abundance of tech companies, business parks, and commercial and residential projects in these localities, it is no wonder that most people are driving up the rent and demand in these localities.
Read: The Top 10 Builders in Hyderabad – Find Your Dream Home With Us Now
Popular localities for Buyers in Pune
If you are looking for the best place to buy property in Pune, this list below of the best locations in Pune for investment can definitely help.
Wakad
Due to the developments in the Rajiv Gandhi Infotech Park of Hinjewadi, Wakad is a great residential neighbourhood with close to three Bus Rapid Transit (BRT) routes as well as home to several tech companies including Cognizant, TCS, Tech Mahindra, Wipro and more.
Baner
This suburb is located in the western metropolitan corridor of Pune with several scenic locations including the popular Baner Hill, making it one of the best places to invest in Pune.
Kothrud
Always a preferred upscale residential market and one of the best areas to invest inPune, Kothrud has been the centre of rapid expansion and development. Which is why maybe it is also known as the capital of Pune itself.
Pimple Saudagar
Located between the suburbs of Aundh and Baner, this popular neighbourhood is very close to the Rajiv Gandhi InfoTech park. It is very well connected with many educational institutions in case you are planning to move to Pune with your kids.
Pimpri Chinchwad
Located in the northwestern part of Pune, Pimpri-Chinchwad has not only all the municipality amenities but is also one of the major industrial hubs in all of the Asian continent. This means residents in the locality will have access to all the major modern developments available to citizens in the nation.
For those house owners looking to see their homes, if your house is in any of these areas, you’re in luck. Most buyers are looking for homes here, homes listed here move faster than homes in other localities.
Worst Performing Micro-Market in Pune in 2024
While some micro-markets in Pune saw huge growth and interest from buyers, others saw a sharp fall in interest from buyers, these localities are –
- Hadapsar
- Hinjawadi
- Undri
- Kondhwa
- Nigdi
Localities that have Appreciated in Value in Pune
There was a slowdown in the Real estate market last year, despite that, there are a few areas in Pune that witnessed good demand and even appreciated. These localities are –
- Dhankawadi – prices increased by 16.19%
- Kothrud – prices increased by 15.90%
- Kharadi – prices increased by 15.74%
- Aundh – prices increased by 15.26%
- Kondhwa – prices increased by 10.78%
These localities are a mix of affluent localities and upcoming suburbs. The suburbs have rapidly grown over the last few years and you’ll find an abundance of residential and commercial property here. The affluent areas still have great demand but finding homes or commercial places here to buy is tougher.
Top Projects in Best Localities of Pune 2024
Discover the most sought-after real estate projects in Pune’s prime localities for 2024:
1. Delta Empress
Located in the heart of Sopan Baug Society, Pune, Delta Empress, a joint venture between Clover Realty & Paranjape Schemes, defines premium living. Offering an array of amenities such as a swimming pool, clubhouse, and gymnasium, it caters to those seeking luxurious residential experiences.
2. Kohinoor Presidentia
Situated in Pune’s coveted Sopan Baug Society, Kohinoor Presidentia by Kohinoor Group sets a new benchmark for luxury living. With top-notch amenities, including a swimming pool and clubhouse, it offers residents an opulent lifestyle.
3. Total Environment Songs From The Wood Phase 1
Total Environment Songs From The Wood Phase 1, located in Sopan Baug Society, Pune, offers sustainable urban living with modern comforts. Residents can enjoy amenities like a swimming pool and clubhouse.
4. The Pride
The Pride by The Wadhwa Group, nestled in Kothrud, Pune’s sought-after locality, caters to luxury enthusiasts. With amenities such as a swimming pool, clubhouse, and more, it ensures a high-end living experience.
5. Godrej The Trees
Positioned in Kothrud, Pune’s vibrant locality, Godrej The Trees is a premium project that offers top-notch amenities, making it ideal for those in pursuit of a comfortable lifestyle.
6. Kolte Patil Ivy Towers
Located in Baner, Pune’s thriving IT hub, Kolte Patil Ivy Towers provides luxury living with essential amenities, making it an excellent choice for IT professionals.
7. Godrej Reflections
Situated in Baner’s IT hub, Godrej Reflections offers premium residences with top-tier amenities, ensuring residents enjoy the best of city living.
8. XRBIA Hinjewadi Phase 1
In Hinjewadi, Pune’s bustling IT hub, XRBIA Hinjewadi Phase 1 is a township project that provides a comfortable lifestyle with modern facilities.
9. Godrej Avenues
Located in Hinjewadi, Pune’s thriving IT hub, Godrej Avenues offers premium living with all modern conveniences.
10. Amanora Gateway Towers
Nestled in Magarpatta, Pune’s well-planned township, Amanora Gateway Towers offers luxurious living with a range of amenities for a comfortable lifestyle.
Find your Dream Pune Home With NoBroker!
Finding your dream home at the right location, at the right price, all while avoiding any risky price inflations can be a daunting task – physically, mentally, and financially. If you are a home seeker, or an NRI looking for the best places to invest in Pune, then check NoBroker for deals and assistance to buy homes in any locality across Pune. You can even get assistance with loans, and paperwork, and we can even assist you with property maintenance amongst other things.
Frequently Asked Questions
Q1: Is it a good time to buy property in Pune?
Ans: Determining the right time to buy property in Pune depends on various factors such as market trends, interest rates, and personal financial readiness. Currently, if you’re finding properties at competitive prices and favourable financing options, it might be a good opportunity to invest.
Q2: Which are the worst micro-markets in Pune in 2024?
Ans: Some of the micro-markets in Pune that saw the most fall in interest from buyers are Hadapsar, Hinjawadi, Undri, Kondhwa, and Nigdi.
Q3: What should a Pune property investor consider before investing?
Ans: A Pune property investor should evaluate the location’s growth prospects, infrastructure development, and legal clearances of the property.
Q4. What is the average rental yield in Pune?
Ans: The rental yield in Pune typically ranges between 3% to 5%, depending on the location and type of property, reflecting a healthy return for real estate investors.
Q5: Which localities in Pune have seen a rent increase?
Ans: The Pune localities that have seen a rent increase are Hinjewadi (+18.75%), Kharadi (+16.37%), Wakad (+9.99%), Dhanori (+7.88%), and Pimple Saudagar (+6.88%).
