Ideally situated in the vibrant capital of Pune, Pimple Saudagar has become a major residential and business centre in the last few years. This area offers good connections and is close to main roads, the Mumbai-Pune Expressway, Hinjewadi IT Park and other important locations making it easy to get to the town’s most important places. Pimple Saudagar, well-known for its wide range of real estate goods, offers a variety of residential alternatives to suit the varied tastes of homeowners, including contemporary flats and roomy villas. In addition, the region is home to a growing business community that includes many offices, retail establishments and commercial complexes that serve the requirements of companies and entrepreneurs. The steady expansion of Pimple Saudagar’s real estate market is evidence of its attractiveness for people and businesses looking for an excellent location with solid infrastructure development and bright future possibilities.
What are circle rates?
In Pune, Circle rates mean the least or minimal amount that the state government notifies the city’s registrar’s offices to be paid for the documentation of any land or property acquisitions. A property’s market value in Pune is known as the Ready Reckoner Rate. When buying a home or plot of land, the government determines how much stamp duty and registration fees need to be paid.
How to determine property price in Pimple Saudagar Pune using the circle rate?
Two elements are used to calculate a property’s value: the ready reckoner or circle rate of Pimple Saudagar Pune, which takes the property’s age, utility, and kind into consideration. The following formula is used to determine the property value:
Property value = Built-up area in square metres X Circle rate per square metre
So, the worth of the property is as follows if a new owner purchases a 500 square metre flat at a ready reckoner cost of Rs 50,000:
Value of the property: Rs (50,000 X 500) = Rs 2,50,000
This property appraisal will subsequently be used to compute the stamp duty and registration fees. The government will charge these assessed fees to the new owner in order to register the property in his name on the official domain.
Circle rates in Pimple Saudagar, Pune
The price trend indicates that purchasing and selling real estate in Pimple Saudagar, Pune is now lucrative. In order to properly assess their property in Pune, owners of real estate for sale in Pimple Saudagar should also consider pricing trends. The purpose of pricing and movement data is to enable prospective homeowners by providing them with Pimple Saudagar, Pune, real estate prices.
| Area | Ready Reckoner Rate in Rs/sqm | Cost of office space per sqm | Cost of shops per sqm | Cost of flats/apartments per sqm | Cost of residential lands per sqm
|
| Pimple Saudagar | Rs.44,760 – Rs.86,420 | Rs 50,250 – Rs 86,420 | Rs 54,580 – Rs 1,05,600 | Rs 44,760 – Rs 86,420 | Rs 8,100 – Rs 28,720 |
Real estate trends in Pimple Saudagar Pune
When it comes to commercial real estate, Pimple Saudagar is a thriving hub of the industry. Before making any financial decisions, you should be informed of the following major local trends.
Pimple Saudagar, Pune: Location and connectivity
A busy suburb, Saugaadar Pimple lies in the western fringes of Pune but has gained traction as both residential and commercial centre. The flourishing development of this site can be attributed to its proximity to an array of residences, numerous businesses, superior road network as well as ongoing urbanisation process which is taking place in the area. Pimple Saudagar has a good connection, which is one of the main reasons why it is attractive. It has direct connectivity to main highways like Mumbai-Pune expressway and Mumbai-Pune bypass and hence travelling to nearby areas and cities is made simple. Also, there exist strong public transportation networks that include buses and auto rickshaws that assist people move within the city.
Pimple Saudagar, Pune: Commercial properties
Pimple Saudagar’s commercial landscape is gaining momentum as more business, corporate offices, and retail shops make efforts to set up operations there. Commercial spaces are available in addition to the growing number of consumers that have led to an increase in the construction of shopping malls, restaurants, and entertainment spots. This trend contributes heavily into the district’s economic progressions and attraction of the potential businesses.
Pimple Saudagar, Pune: Residential properties
Pimple Saudagar has a lot of residential facilities like apartments, bungalows etc., that suit all tastes and pockets. It features organised housing estates that offer a balance of comfort and functionality. The place is convenient in that it is near important institutions like schools, hospitals etc. which makes it suitable for families as well as those that seek to combine work and leisure.
Factors affecting property prices in Pimple Saudagar, Pune
The price of real estate in Pimple Saudagar, Pune, varies for many reasons. It is crucial to take these factors into account when thinking about investing in or buying real estate:
- Location of the Property: Properties have high market value in areas that are close to schools, hospitals, supermarkets, and transport terminals. The location of properties in Pune influences their price because they have access to major roads, highways, and job centres. This includes views, the quality of the air in green spaces within the neighbourhood and the general atmosphere of that specific area for living.
- Type of Property: The cost for residential property depends invariably upon its features of size, amenities, and building quality. Foot traffic, accessibility and distance from business centres are factors that influence commercial properties’ values. The value of the agricultural land and plots may vary depending on its suitability for development, proximity to cities, or agricultural productivity.
- Facilities Available in the Area: The availability and quality of such amenities as parks,gyms, recreational centres and community spaces might also affect property prices. Good schools, colleges, and health facilities draw families which have an impact on demand and ultimately property prices.
- Registrar Value of Properties: Property prices are usually based on registrar or government-set property values. Shifts or variations in such value are known to have influence on market price.
- Age and Condition of the Property: The value of a property is highly dependent on the property’s age and the quality of the maintenance it receives. New construction or well-kept old structures have a tendency to fetch high valuations. Older properties have been renovated with modern amenities, increasing their value.
Why invest in Pimple Saudagar, Pune?
For multiple reasons, investors must look forward to investing in properties in Pimple Saudagar. However, some of the reasons are:
Strategic connectivity
The Mumbai-Pune Expressway connects Pimple Saudagar via Dehu Road and Katraj Bypass. This region has undergone enormous expansion in recent years, from industrialization to important residential destinations, due to its proximity to Hinjewadi, a hotspot for the IT/ITeS industry.
Accessibility to employment hubs
People nowadays acquire a home closer to their employment to save commuting time. Pimple Saudagar is easily accessible to major IT parks, making it a pleasant place to live. The majority of the properties in the region provide several chances for business setups and office space for sale.
Affluent population
Pimple Saudagar has experienced tremendous expansion in new property and projects in recent years, with more and more developers eager to increase their portfolio in the region. There are several luxury and lifestyle residential flats in the region. The population comprises a high-spending segment that works in Hinjewadi, MIDC, or other PCMC industrial corridors and a sizable student population.
Excellent return on investment
Pimple Saudagar is a good investment opportunity due to the locality’s rapid expansion. The dense population in the region provides steady foot traffic for business enterprises in Pimple Saudagar. Overall, you receive an excellent return on investment.
FAQs
What are the registration and stamp duty fees in Pune in 2023?
As of 2023, Pune's stamp duty and registration fees have not changed. The registration charge is 1% and the stamp duty rate is 7% (with a 1% metro cess) for male property owners. On the other hand, women pay the same 1% registration cost in addition to 6% stamp duty (which includes a metro cess of 1%).
How is the stamp duty in Pune calculated?
6% of the property's market value is the current stamp duty in Pune 2021–2022, and it is calculated as follows: Stamp duty amounts to 4%. 1% is the local body tax (LBT). The transport surcharge is one per cent.
How is the value of a property determined using the circle rate?
Circle rates are used to calculate property value using the following formula: Built-up area in square metres multiplied by the local circle rate in rupees per square metre equals the property value.
What is the circle rate?
The government determines the circle rate, which is the lump sum payment, based on the region where the property is located and its current market worth. The agreement rate, on the other hand, is the price at which the transaction occurs following the conclusion of a contract between the buyer and seller.
What happens if you sell a house for less than the circular rate?
The Income Tax Act's Section 56(2)(x) states that if a property is sold for less than the circle rate, the sale price is considered to be the circle rate. After that, capital gains tax is applied as though the asset's sale price had been the circular rate.
| 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 |
Priya Banerjee, a writer with a keen eye on the property market, she deciphers the ever-changing trends in residential real estate. Priya excels at simplifying complex real estate terms, making them easy for everyone to understand. Her well-researched advice helps buyers and investors understand complex topics.
