Is Pune real estate overpriced? (2024)

Why property rates are high in Pune?

Pune's suburbs, including Pashan, Wakad, and Aundh, among other places, have developed robust infrastructure, which has resulted in a spike in demand for flats and improved plot rates in Pune.

What is the future of real estate in Pune?

The city saw a marginal three percent QoQ increase on the rental front during the Q4 of 2021. The residential sector registered 37,218 home sales in CY 2021, making the city the third largest residential market in India. The year 2022 is likely to break several existing records in the Pune housing market.

Is Pune real estate overpriced?

Real Estate prices in Pune are overvalued in my view because of very low net rental yield of 2.5%-3% p.a. For eg: a 2BHK Apartment worth Rs. 80 Lacs earns approximate rent of Rs. 2.16 Lacs p.a (after deducting property tax, annual maintenance, etc.

Is it good time to buy real estate in Pune?

Affordability in Pune

“The latest reduction in interest rates, has led to increased affordability, which is now at 3.79 times one's annual income (it was 3.91 times at the same time in 2019), making this is the best time to buy a home,” notes the Gera report. Home loan rates are as low as 6.65% from some public banks.

Which area is developing fast in Pune?

One of the fastest growing localities in Pune, Hadapsar is surrounded by special economic zones, including the Magarpatta City, the Amanora Parktown and the Fursungi IT Park (SP Infocity), housing offices of some of the prominent IT companies in the city.

Is buying flat a good investment in Pune?

The luxury residential projects in Pune is a fine example which has in fact seen an upward incline as there has been 71% increase in the number of new projects that have been begun between the time period of June 2020 to June 2021.

Is Pune good to settle down?

According to the ranking of cities on the Ease of Living Index released by the Ministry of Housing and Urban Affairs, Pune has topped the list of the most liveable cities in the country.

Where should I invest in Pune?

Is it worth buying land in Pune?

Now speaking about Pune, the real estate sector has been growing at an amazing rate. The property rates are affordable and the demand for property investment is high. Unlike Mumbai, Bangalore and Delhi, you still can find a decent property not very far from the city for an affordable price.

How much does it cost to buy a house in Pune?

There are few new launches as well. Top localities in Pune include Aundh where average property price is Rs 9,972 per sq ft, Kalyani Nagar with property values at Rs 11,259 per sq ft and Shaniwar Peth where prices are at Rs 10,765 per sq ft.

Is this good time to buy property?

But is it the time to invest in real estate? Personal finance experts say since prices have been stagnant for the past five years, the time-value of owning a home is good. However, most experts were not in favour of buying a second home for investment purposes, as residential properties are low income yielding assets.

What is the cost of building a house in Pune?

Residential home construction costs in Pune range from Rs 1400 per square foot to Rs 2000 per square foot in 2022 (Material + Labour). Include the door, windows, tiles, etc. when finished. The preponderance of a house's construction costs goes toward civil work and finishing costs.

Will house prices fall in 2022?

Based on this data, Capital Economics has forecast house prices to rise throughout 2022, before falling by 5% in 2023.

Will property prices fall in 2022 India?

Fall in real estate prices will have an impact on the lending banks, the Reserve Bank of India (RBI) has said in its Financial Stability Report of June 2022. It said that since the financed property is the underlying collateral in housing loans, any price fluctuation will have implications for the lenders.

Will property prices go up in 2022?

“It is a major concern and we feel construction costs have risen by about 25-30%, which may have a bearing on apartment prices over some time. Over the next 3-6 months, we expect property prices to go up by 10-15%.

Which area is best to buy property in Pune?

Which is the richest area in Pune?

Which area of Pune is best residential?

How much does it cost to buy a house in Pune?

There are few new launches as well. Top localities in Pune include Aundh where average property price is Rs 9,972 per sq ft, Kalyani Nagar with property values at Rs 11,259 per sq ft and Shaniwar Peth where prices are at Rs 10,765 per sq ft.

Where should I invest in Pune?

What is the cost of building a house in Pune?

Residential home construction costs in Pune range from Rs 1400 per square foot to Rs 2000 per square foot in 2022 (Material + Labour). Include the door, windows, tiles, etc. when finished. The preponderance of a house's construction costs goes toward civil work and finishing costs.

How is real estate market in Pune?

Pune's real estate saw significant momentum in 2021 vis-à-vis 2020. Both new launches and housing sales saw decent yearly growth – of 67 percent and 53 percent, respectively, Aditi Watve, city head, Pune and president, Capital Markets, Anarock Group says, ''As per our research, Pune saw new supply of approx.

What is ready reckoner rate in Pune?

How much is property tax in Pune Quora?

As regards to whether the property tax is to be paid by the owner or tenant depends upon the agreement in place between the 2 parties. Generally, property tax is paid by the owner of the property. When will the property rate get reduced in Pune? Its already dropped 20%, it may go further 40% in near future.

What is the current construction cost per square foot in Pune?