In this article, we look at the top 5 posh localities in Pune, along with the property prices and rentals in these areas over time, property values in Pune, the cultural capital of Maharashtra, have increased manifold. This increase has been remarkable, in the case of posh areas in this old city. The question is, which localities are counted among the poshest areas in Pune?
To help you find out, here is a list of the most expensive areas in Pune, where the traditionally rich crowd lives and which attracts the new-age startup owners and millionaires to invest in real estate.
New Kalyani Nagar
Average price: Rs 13,500 per sq ft
New Kalyani Nagar is an extension of Kalyani Nagar. It is one of the posh residential areas in Pune, known for some of the prominent commercial and residential establishments. Kalyani Nagar lies in the heart of Pune city and is accessible from different parts and is near to the railway station and airport. Due to the emergence of IT parks in Kalyani Nagar, the area has gained popularity among office-goers, for entertainment and housing purposes. The area lies in proximity to another exclusive neighborhood of Koregaon Park. At present, some prominent developers are coming up with luxurious projects in New Kalyani Nagar, as Kalyani Nagar has become saturated, because of rapid development.
Erandwane
Average price: Rs 13,479 per sq ft
The locality is home to the famous Film and Television Institute of India and has a number of schools, colleges, shopping malls, and restaurants. This is one of the expensive areas to live in in Pune, mainly because it has established infrastructure and availability of amenities in close proximity. There are a number of bungalows and villa properties in Erandwane, which make it one of the preferred choices for those who are looking for spacious housing options. Apart from this, high-end housing complexes have also come up here in recent times, offering beautifully designed apartments.
Shivaji Nagar
Average price: Rs 13,228 per sq ft
Shivaji Nagar came into the limelight when some of the top developers bought land here, to develop high-end housing societies to cater to the growing housing demand in the affluent and greener zones of the city. The locality also houses some of the important government offices, educational institutes, and the city court. The residential prices here are expected to increase further, due to surging demand and lack of new constructions in the area.
Koregaon Park
Average price: Rs 12,464 per sq ft
Koregaon Park is one of the most well-known and prominent localities in Pune, known for its lush greenery and cleanliness. A number of commercial establishments have come up in the neighborhood to cater to the demand of the residents. This includes restaurants, retail outlets, a few nightclubs, and mini shopping complexes. The area has now been converted into a wholesome shopping and entertainment destination, which attracts the young office-going crowd of the city.
Boat Club Road
Average price: Rs 12,372 per sq ft
Boat Club Road is located on the eastern side of Pune and is known for its ultra-luxury housing societies in the city. With its proximity to the Pune-Mumbai Highway and prominent IT areas, the locality has become a popular residential destination for wealthy start-up owners. Most of the amenities are available within a two-km radius, including the renowned Royal Connaught Boat Club. Due to the high demand for residential properties in the area, the rentals are also very high and could fetch you up to Rs 1 lakh for a 2BHK flat, depending upon the facilities and interiors.
Property prices in posh areas of Pune
| Locality | Average rent per month | Average real estate prices (per sq ft) |
| New Kalyani Nagar | Rs 66,273 | Rs 13,500 |
| Erandwane | Rs 29,358 | Rs 13,479 |
| Shivaji Nagar | Rs 49,359 | Rs 13, 228 |
| Koregaon Park | Rs 46,497 | Rs 12,464 |
| Boat Club Road | Rs 55,000 | Rs 12,372 |
USPs of Pune’s posh locations
All of these localities have excellent infrastructure, as well as high-end and quality residences. Residents here can enjoy a lavish lifestyle, owing to the available amenities in the area. All these factors make these localities excellent, vis-à-vis investment value, even though they are extremely expensive.
Source- https://housing.com/news/posh-residential-areas-in-pune/
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