Pune is the second largest city in Maharashtra by population. The rich culture, the lively entertainment scene, the robust infrastructure, and the cosmopolitan population make this a wonderful place to live. With several commercial hubs and IT parks coming up, hundreds of thousands of young professionals are moving into Pune. It is also one of the top choices for Mumbaikars to buy a second home or a retirement nest. With some of the leading developers of the country expanding their market to Pune, the residential market in the city is on a growth trajectory.
Here are some of the top affordable localities in Pune for potential homebuyers.
- Baner - In recent years, Baner has emerged as a residential hotspot, thanks to the growth of several commercial centres and IT parks in the vicinity. With the influx of young professionals, several malls, restaurants, pubs, and entertainment centres have come up in this neighbourhood. The NH-48 and Baner Road are two arterial roads connecting this neighbourhood. The Pashan Hill and Baner Riverside Birdwatching Hotspot are favourites of the locals.
- Hadapsar - Hadapsar is a growing IT hub situated on NH 65. It has several banks, restaurants, hospitals, malls, and higher education centres, making it one of Pune's most modern and affordable localities. The three special economic zones - SP Infocity, Amanora Park, and Magarpatta - employ thousands of people who also reside in the vicinity, making this a lively place to live. Hadapsar is also known for its delightful farmers' market.
- Hinjawadi – The sprawling IT centre, Rajiv Gandhi Infotech Park, is at the heart of the rise of Hinjawadi. This neighbourhood has become one of the top employment hubs in the city and a picture of mixed development. NH 48 and the Rajiv Gandhi MIDC Road offer excellent connectivity to the rest of Pune and to Mumbai. The upcoming metro network adds to the prospects of Hinjewadi. It also has fantastic shopping and entertainment centres in the vicinity.
- Katraj - Known for its iconic ISKCON temple and the Rajiv Gandhi Zoological Park, Katraj is one of the most beautiful neighbourhoods in south Pune. The NH-65 and Pune-Satara Road offer excellent connectivity to other parts of the city. Neighbourhoods like Mangdewadi and Katraj nagar have caught the attention of top developers. If you are looking to invest in a well-connected and serene neighbourhood with excellent social infrastructure and good shopping facilities, Katraj has to be on top of your list of choices.
- Kharadi - Kharadi, to the northeast of Pune, is adjacent to some of the city's top commercial and IT hubs like Magarpatta and Koregaon Park. Its proximity to the Pune International Airport and these IT hubs makes Kharadi a popular choice for homebuyers and professionals looking to rent. Apart from this, Kharadi has some of the best schools, colleges, and shopping centres in Pune, making it perfect for young families.
- Moshi - Moshi is one of the most peaceful and clean localities adjoining Pimpri Chinchwad. The NH 60 that runs through the heart of this locality connects Nashik and Pune and offers excellent connectivity. The Dehu Alandi Road is another arterial road that runs through Moshi. North Pune, in general, is growing at an unprecedented pace, and Moshi is coming up as a planned neighbourhood preferred by homebuyers.
- Wagholi - If you are looking for affordable localities in Pune, the Wagholi-Bakori area should definitely be on your radar. Located just a few minutes from Tech Park One, Eon IT Park, and Weikfield IT Park, Wagholi is a popular choice among young professionals moving to Pune. The Kharadi Bypass Road and Pune-Solapur Highway provide excellent connectivity options. If you prefer a neighbourhood with exceptional public transport connectivity, several parks, and outstanding development, then Wagholi is the perfect place for you.
- Warje - Warje was once regarded as an extension of Kothrud, one of Pune's poshest neighbourhoods, but in recent times, it has emerged as one of the most popular residential hubs. Located close to the National Defence Academy, Warje has a very modern outlook and is home to several great restaurants and eateries. It is easily one of the most budget-friendly neighbourhoods in town. Many of the single-storied buildings in the area are being developed into luxurious high-rises.
Pune is often known as the 'Oxford of the East' owing to its highly sophisticated culture and the presence of numerous higher education institutions. However, in recent times, Pune has become one of the country's foremost commercial and IT destinations, leading to a significant increase in property prices. Despite this, there are still several neighbourhoods in Pune that are ideal for budget-conscious homebuyers.