Pune is one of the biggest cities in India. It has an active business industry and a well-established economy. With such an impressive ranking in the cities to live in, Pune has always been an ideal destination for those who are living in Mumbai or other parts of India. If you are a student or working professional who is looking for affordable places to live in Pune then check out the following article.
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Why is Pune a Preferable Location to Live?
Pune is considered the second-largest metropolitan city in Maharashtra, also known as the Eastern Oxford, due to numerous renowned educational institutes. Other than the educational side, the city is rich in Heritage culture as well.
Also, many top MNCs have their headquartered set up in this city. A safe environment to live in and affordable households for students from all over India and working professionals moving to this city.
Homebazaar.com expert from Pune Akshay Shivsharan said, “Pune’s growing market is not just a trend; it’s a testament to the city’s unwavering potential and dynamic spirit. I believe in cultivating spaces that resonate with Pune’s evolving identity a market that doesn’t just grow but flourishes, echoing the aspirations and dreams of its vibrant community.”
One of the most attractive features of Pune is that it is primarily a residential city rather than a commercial or industrial one.
Therefore, it has never been influenced by external factors like other cities which stand out because of their office spaces, industrial activities and factories.
Currently, more than 7.5 million people reside in Pune. With the rapid infrastructure development and connectivity, in the next few years, Flats in Pune will undoubtedly experience significant growth.
Top Affordable Places to Live in Pune
One of India’s most popular and affordable cities, especially among young people, is Pune. It is becoming a great attraction for bachelors, couples and families too. The reasons behind this are below:
- According to the 2023 report, Pune is the 5th ranked safest city in India, especially for women.
- There are 21 engineering colleges in Pune.
- Pune is considered India’s second-largest IT hub.
- Most software organizations are located in Pune, India.
- The largest automotive and manufacturing centre in India is in Pune.
- In all of Asia, Pune has the most number of pubs.
- The area around Pune is prone to earthquakes. The seismically active Konya Dam is close to the city.
Lets us now look at the top affordable places to live in Pune.
Vishrantwadi
Vishrantwadi is one of the most popular and developing places in Pune city. Although it is a relatively young neighbourhood in terms of popularity, the proximity to Pune’s International Airport makes up for it.
It is a huge locality with Viman Nagar, Manjri, and Kharadi next to its proximity and infrastructure development which makes it a more livable place.
Vishrantwadi is a new area which also makes it affordable for working for professionals and families.
Price Trends (Per Sq. Ft Rate)
| 1 BHK Rent | Avg Rs. 8000-10000 |
| 2 BHK Rent | Avg Rs. 15000-25000 |
Hospital: Kasturba Hospital, Serene Hospital, Genuba Tukaram Hospital
Educational Institution: Dr Ambedkar College, SNBP College, St. Francis High School
Mall: Phoenix Marketcity, Shoppers Orbit
Connectivity: 5-10 min proximity to Pune’s International Airport, proximity to Nagar Highway and metro station.
Wagholi
Infrastructure development and the real estate sector are growing significantly in the northeast part of Pune. The reason behind this is, that it is becoming a major IT hub and business destination with EON IT park, GIGA space, and Tech Park One in these localities.
These offices increase employment opportunities, which raises housing demand. The Wagholi additionally gains from the presence of significant physical and social infrastructure, including proximity to the Khadi, Hadapsar, Viman Nagar, and Kalyani Nagar with Railway Station and Airport proximity.
Also, retail projects, well-known hotels, and notable educational institutions are nearby places in Wagholi which makes it a demanding and at the same time affordable area to live in.
Price Trends (Per Sq. Ft Rate)
| 1 BHK Rent | Avg Rs. 7000-8500 |
| 2 BHK Rent | Avg Rs. 15000-20000 |
Hospital: Lifeline Hospital, Imax Multispeciality Hospital, Lotus Speciality Hospital
Educational Institution: SNBP International School Wagholi, Poddar International School
Mall: Epic Shoppings, Reliance Trends
Connectivity: Nagar Highway is Connected to Wagholi, Proximity to IT hubs, International Airport and the railway station.
Bhugaon
Bhugaon is situated on the southwest side of Pune. In the last few years, Bhugaon has emerged as an affordable living locality and holiday home destination near Manas Lake.
Bhugaon has close connectivity to central Pune and other developing areas like Bavdhan, Kothrud, and Chandni Chowk which makes it a more livable area for youngsters and families as well. If you are looking for a cheap area in Pune to live then Bhugaon is your place.
(Per Sq. Ft Rate)
| 1 BHK Rent | Avg Rs. 6000- 8000 |
| 2 BHK Rent | Avg Rs. 10000-12000 |
Hospital: Unique Multispeciality Hospital, Varad Hospital
Educational Institute: Flame University, Pune Institute of Business Management, Vivekanand Institute Of Technology, Padmbhushan Dr Vasantdada Patil College Of Architecture
Mall: Forest Trails Mall, Aditya Shagun Mall
Connectivity: Close Proximity to Central Pune, Connectivity to Pirangaut Road, Vanaz metro station.
Undri-Pisoli
The growth in Kharadi, Hadapsar and Magarpatta IT sectors makes the Undri-Pisoli location another affordable place to live in Pune city.
Places like Kondhwa, Fatima Nagar, and Wanowrie have the highest housing demand here. Buyer interest is drawn to these locations by the desire to upgrade to larger flats in Undri at reasonable prices.
(Per Sq. Ft Rate)
| 1 BHK Rent | Rs. 8500-10000 |
| 2 BHK Rent | Rs. 15000-20000 |
Hospital: Sangam Hospital, Nirvana Hospital
Educational Institution: RIMS International School Undri, Trinity College
Mall: Royale Heritage Mall, Mantra Shopping Centre
Connectivity: Proximity to Camp, kondhwa, Fatima Nagar, Magarpatta, and proximity to Saswad Road railway station.
Katraj
Katraj is one of the popular affordable places to live in Pune for students and working professionals. Katraj is well-known for its lake and Rajiv Gandhi Zoological Park.
A large statue of the legendary warrior and monarch Chattatrapti Shivaji Maharaj is located on an island in the lake. Living within the trees is the perfect setting for all nature enthusiasts.
Katraj is well connected to NH-4 which makes it easier to connect with Kolhapur and Bangalore.
Also, Katraj has proximity to Swargate bus Stop which makes it a preferable place and cheap place to live in Pune among students and professionals.
(Per Sq. Ft Rate)
| 1 BHK Rent | Rs. 8000-9500 |
| 2 BHK Rent | Rs. 12000-15000 |
Hospital: Jeewandhara Multispeciality Hospital, Royal Hospital
Educational Institution: Bharati Vidyapith College, Asian College Of Science And Commerce, Rajiv Gandhi Institute of I.T And Biotechnology
Mall: Mandot Shopping Mall, Lighthouse Mall
Connectivity: Swargate Bus Stop Proximity
Other Affordable Places To Live in Pune
With above mentioned affordable places to live in Pune here are a few more locations, you can consider living.
- Hinjewadi
- Warje
- Bhosari
- Dhanakawadi
- Dyayri
- Hadapsar
There are many possibilities available for those who are looking for cheap areas in Pune to live in as the demand for affordable homes is increasing day by day. If you are planning to move to Pune city in 2024 these above are a few affordable places options to choose from.
FAQs
| Is Pune a cheap city to live in?
Pune is among India’s most livable and rapidly expanding cities. Even though Mumbai is now only a few hours away, this area has a lower cost of living. |
| Which area is developing fast in Pune?
As of now, Kalyani Nagar is the fastest-developing area in Pune. |
| Is it worth living in Pune?
Pune is becoming a popular living destination among youngsters and working professionals due to its developing infrastructure and safe environment. |
| Is Pune cheaper than Mumbai?
If you want to rent a house or a hotel for your holiday, Pune is cheaper than Mumbai, so it can be well inside your budget. |
| Is Pune safer than Delhi?
Without any doubt, Pune is a safer city than Delhi. |
