Hinjewadi Phase 1, nestled in the southwestern region of Pimpri-Chinchwad near Pune, has emerged as a thriving commercial and residential hotspot. Initially a village, the area transformed into a pivotal IT hub, prompting its inclusion under the Pune Metropolitan Region Development Authority (PMRDA). Home to the expansive Rajiv Gandhi Infotech Park, spanning 2,800 acres, this suburb boasts robust social infrastructure. With proximity to crucial localities and upcoming connectivity enhancements such as the Pune Metro Line-3 and National Highway 48, Hinjewadi Phase 1 is increasingly recognised as a favourable investment prospect. The formation of the Hinjewadi Industries Association further underscores its significance as a proposed hub for integrated townships in Pimpri-Chinchwad.
See also: What is the circle rate in Pimple Saudagar, Pune?
Hinjewadi Phase 1, Pune: Why to Invest it?
Hinjewadi Phase 1 presents a lucrative investment opportunity for several reasons:
- Strategic location: It is surrounded by localities like Wakad, Baner, Dasar, Pimple Saudagar, and Aundh.
- Proximity to IT Hubs: The area is home to prominent IT parks like Rajiv Gandhi Infotech Park, Embassy TechZone, Quadron Business Park, and Blueridge Tech Park.
- Connectivity: It is well-connected through Hinjewadi Road to National Highway 48, providing easy access to various parts of the city.
- Proposed Pune Metro: The upcoming 23.3 Km long Line-3 of the Pune Metro will connect Hinjewadi to Shivajinagar, enhancing public transportation.
- Educational and healthcare facilities: Presence of reputed schools such as Mahindra International School, healthcare centres including Sanjeevani Hospital, and shopping malls like Xion Mall.
- Infrastructure developments: Ongoing developments such as the proposed four-lane road between Hinjewadi, Kasarsai, and Mahalunge and the 128 km-long ring road contribute to the area’s appeal.
What are Circle Rates?
Circle Rates, also known as Ready Reckoner Rates, represent the minimum prices set by the government for property transactions. Established by the Stamps and Registration Department, these rates vary based on market value and amenities in an area. They are crucial in calculating stamp duty and registry charges during property transactions, ensuring transparency and fairness.
Ready Reckoner Rates in Pune: How to check?
To determine Ready Reckoner Rates in Hinjewadi Phase 1, Pune, follow these steps:
- Visit the Department of Registration & Stamp Maharashtra website.
- Click on the ‘e-ASR’ field under ‘Online Services.’
- Choose Pune city on the displayed Maharashtra state map.
- Fill in village and taluka details to access the Ready Reckoner Rate.
Hinjewadi Phase 1, Pune: Circle Rates
The Circle Rates in Hinjewadi Phase 1, Pune, vary based on property type. As of the latest updates by the Maharashtra government, the Ready Reckoner Rates for this area are as follows:
| Area | Flats (per sq m) | Office (per sqm) |
| Hinjewadi Phase 1 | Rs. 53,780 | Rs. 88,500 |
The average price per square foot in Hinjewadi Phase 1 is approximately Rs 7,541, with an average rent of Rs 28,291.
Hinjewadi Phase 1, Pune: Real Estate Trends
The real estate market in Hinjewadi Phase 1 is intricately linked to its strategic location and connectivity. This section explores residential and commercial trends, considering upcoming developments and existing infrastructure in the area.
Hinjewadi Phase 1, Pune: Location and Connectivity
In the southwestern part of Pimpri-Chinchwad, Hinjewadi Phase 1 is a prime commercial and residential zone. Boasting excellent social infrastructure and housing the prominent Rajiv Gandhi Infotech Park, it has become a sought-after destination. Surrounded by localities like Wakad, Baner, Dasar, Pimple Saudagar, and Aundh, Hinjewadi Phase 1 is a hub of luxurious projects and amenities. The proposed 23.3 km long Pune Metro Line-3, connecting Hinjewadi to Shivajinagar, and proximity to National Highway 48 enhance its connectivity, making it an attractive investment prospect. Chinchwad Railway Station, Pune International Airport, and upcoming metro stations enhance its connectivity, making it an attractive investment prospect.
Hinjewadi Phase 1, Pune: Residential Properties
Hinjewadi Phase 1 is a mid-segment locality offering a perfect blend of residential and commercial spaces and caters to diverse housing needs. Connected to significant parts of the city, it has many amenities, including hospitals, schools and shopping malls. Renowned educational institutions like Blue Ridge Public School and Mahindra International School are nearby. Healthcare facilities like Shree Hospital and Ruby Hall Clinic add to the appeal. Shopping enthusiasts can explore malls like Xion Mall and Chirag Shopping Center, making them ideal locales for a balanced lifestyle. The area’s prime location and connectivity make it desirable for homebuyers seeking convenience and a well-rounded lifestyle.
Hinjewadi Phase 1, Pune: Commercial Properties
Hinjewadi Phase 1 stands out not only as a residential hub but also as a commercial hotspot. Commercial properties, such as tech parks like Rajiv Gandhi Infotech Park, Embassy TechZone, and Blueridge Tech Park, contribute to its prominence as an employment hub. The proposed Pune Metro Line-3 and upcoming road projects enhance connectivity, making it an ideal location for commercial ventures. With excellent educational institutes, healthcare centres and renowned shopping malls, this area further offers a conducive environment for businesses. Ongoing and planned infrastructure developments, such as the suburban railway system and the Peripheral Ring Road, further contribute to the commercial appeal of Hinjewadi Phase 1.
Hinjewadi Phase 1, Pune: Factors affecting property prices
Several factors influence property prices in Hinjewadi Phase 1:
Location and connectivity
Proximity to major roads, the proposed Pune Metro Line-3 and Chinchwad Railway Station impact property prices.
Infrastructure developments
Ongoing and planned projects such as the suburban railway system and the Peripheral Ring Road contribute to the overall value of properties.
Property type
Distinct circle rates for residential and commercial properties affect pricing dynamics.
Amenities and services
The availability of educational institutes, healthcare facilities and nearby shopping malls contributes to higher property values.
Market demand
Increasing demand for residential and commercial spaces directly correlates with property prices.
Usage
The purpose and use of the property, such as residential or commercial, influence circle rates.
FAQs
What is a Ready Reckoner Rate in Pune?
The Ready Reckoner Rate in Pune is the lowest price at which the transfer or sale of a property can be registered.
What is the stamp duty in Pune?
For men and joint ownership, the stamp duty is 6%, and for female candidates, it is 5%.
How do I evaluate the value of my land in Pune?
Check the land value on the IGR Maharashtra website under the e-ASR tab.
What factors affect the ready reckoner rates in Pune?
The property's location, usage, amenities, facilities, infrastructure, developmemt and market value influence ready reckoner rates in Pune.
How does the Ready Reckoner rate play a role in real estate transactions?
While establishing the minimum amount for property sales, there is no maximum limit, creating a disparity between the ready reckoner rate and market rates.
Is Hinjewadi Phase 1, Pune, a good area to live in?
Yes, Hinjewadi Phase 1 offers good public transport, easy cab/auto availability, markets within walking distance, and proximity to essential facilities. However, some challenges include frequent traffic jams and no metro connectivity.
Which is the nearest metro to Hinjewadi Phase 1, Pune?
The nearest metro station is Wakad Chowk Metro Station, located 3.1 km away.
How do you find Ready Reckoner Rates in Pune?
Visit the Department of Registration and Stamps, Government of Maharashtra's official website to find Ready Reckoner Rates in Pune.
What is the significance of Ready Reckoner rates for the first-time homebuyer?
Ready Reckoner rates indicate how much a homebuyer needs to spend on a property, influencing market rates and property values.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
