Pune Real Estate: Apartments for Sale in Maharashtra's Education City

Pune, in Maharashtra about 150 km from Mumbai, has major universities, an auto-manufacturing base and an IT sector. Hinjewadi and Kharadi house large tech parks, Baner, Aundh and Wakad are popular western suburbs, Koregaon Park and Kalyani Nagar are upscale, and Hadapsar and Wagholi offer lower prices in the east. The city's weather is milder than Mumbai's, with cool winters and a pleasant monsoon.

Pune has a metro under phased development and an international airport at Lohegaon. The expressway to Mumbai makes weekend trips possible. Traffic congestion and water supply are the main complaints.

To compare: Navi Mumbai, Bengaluru, Hyderabad, Gurgaon, Ahmedabad and Kolkata.

NRIs and OCIs can purchase residential and commercial property but not agricultural land. Maharashtra has a strict agricultural-land law.

• MahaRERA. Verify the project and its promised completion date.
• Stamp duty. Pune has a metro cess on top of state stamp duty; verify the current total.
• Ready reckoner rate. Stamp duty is levied on the higher of the sale price and the government's ready-reckoner rate.
• Society documents. Ask for share certificates and a no-objection letter.

Our India consultation guide and financing guide explain more; see the India overview for national data.

Pune owners pay monthly society maintenance, property tax to the municipal corporation and utilities. Rental demand comes from students at universities such as Savitribai Phule Pune University, from IT workers and from defence and manufacturing employees, which helps keep vacancy low in well-located areas. Landlords generally prefer longer leases with a deposit and rent registered under a leave-and-licence agreement. For NRIs, tax is deducted when a property is sold, and a lower-deduction certificate is possible. Compare the cost of renting versus owning in your target area before you commit, and see how the mortgage calculator responds to different interest rates.

Ask whether the building has a valid occupancy certificate and whether the society is registered. In peripheral villages, check that the plot is within the municipal limits and not subject to a reservation or road widening. Water tanker dependency is common in new outskirts. Monsoon waterlogging occurs along some stretches near river corridors, so ask neighbours about past flooding and check the ground floor.

Visit during rush hour, because the Hinjewadi traffic problem is severe. Check water and power backup, ask about the progress of nearby road and metro works, and request the occupancy certificate for completed buildings. Use the property valuation tool to compare against similar flats.