Located in north-west Pune, Baner has evolved from an agricultural area to a bustling residential and commercial hub. The growth of IT hubs in Hinjewadi and Balewadi has transformed Baner into a self-sufficient commercial centre. As one of Pune’s rapidly developing suburbs, Baner enjoys proximity to industrial zones and IT hubs. The region boasts excellent civic amenities and robust connectivity to various parts of Pune. This article explores the circle rates in Baner, Pune, shedding light on the property valuation standards essential for transactions and registrations in this dynamic locality.
See also:Â Ready reckoner rate in Katraj, Pune
What are circle rates?
In Maharashtra, these rates are commonly referred to as ready reckoner rates. Circle rates serve as a crucial tool in India for assessing the value of a property for diverse purposes, including taxation, property registration, and stamp duty calculation. They represent the minimum value at which a property can be officially registered in a specific area and are determined by the revenue department of the state government. The circle rate operates as a reference point for evaluating the market value of a property, considering factors, such as age, location, size, and amenities.
Circle rates in Baner, Pune
Circle rates in Baner, Pune are determined by the state government’s stamps and registration department in Pune. These rates vary across different regions in Pune, depending on factors like the overall market value of the area and the amenities available. Pune’s administration has categorised properties and suburbs into 19 zones, further divided into 221 sub-zones, based on primary arterial roads and railway lines from west to east. The state government of Maharashtra typically assigns higher circle rates to commercial properties and lower rates to residential ones. The circle rate is also influenced by the type of property. In Pune, the registrar value of apartments and flats differs significantly from that of independent houses and plots in the same locality.
For Baner, Pune, the latest circle rates are as follow:
| Flats/apartments (Per square metre) | Residential land (Per square metre) | Office space (Per square metre) | Shop (Per square metre) |
| Rs 42,760 – Rs 83,830 | Rs 19,690 – Rs 31,800 | Rs 62,080 – Rs 1,01,480 | Rs 81,130 – Rs 1,44,770 |
See also: Everything about ready reckoner rate in Pune
How to check circle rates in Pune?
Online
To check circle rates online on IGR Maharashtra, follow these steps:
- Visit the official IGR Maharashtra portal.
- Navigate to ‘Online Services’ and select ‘e-ASR’.
- Choose the region of interest on the map page.
- Specify district and village details for the desired rates.
Offline
For offline verification of circle rates:
- Visit the local sub-registrar’s office.
- Request a copy of the Annual Statement of Rates (ASR).
- Provide property details for obtaining the ready reckoner rates.
- Calculate the property rate using the per sqft cost and total area.
Real estate trends in Baner, Pune
Here are some of the key locality trends for Pune’s Baner.
Baner, Pune: Connectivity
Baner, Pune, is a residential and commercial locality situated along the Mumbai Highway, surrounded by Balewadi, Pashan, Sus, Aundh, and Mahalunge. The area features excellent road connectivity through Baner Road, Pashan-Sus Road, and Mumbai Highway (NH-48). Major roads passing through the area include the Mumbai-Bangalore Highway, the Pune Bypass Road, the Mumbai-Pune Expressway, and the Gopal Hari Deshmukh Marg.
Baner benefits from an extensive bus service, with the Shivaji Nagar Bus Stand and Baner Bus Stand in close proximity. Pune Mahanagar Parivahan Mahamandal Limited (PMPML) operates buses connecting Baner to various parts of the city. Pune International Airport (18 km) and Pune Junction Railway Station (12 km) are accessible within an hour. Additionally, the planned 23.3 km metro Line 3 (Hinjewadi Phase III – Civil Court) is expected to enhance Baner’s infrastructure and further improve connectivity in the region.
Baner, Pune: Infrastructure
Baner, Pune, has gained popularity as a preferred destination due to its well-planned roads and excellent infrastructure. The locality provides robust social amenities, including reputed schools like VIBGYOR High School, Tree House Play Group, Sanskriti School, Little Millennium, The Orchid School, Aditya International School, The Ecole Heritage School, and Leapbridge Early Childhood, among others. Baner is also home to prominent colleges, such as Hindustan Aerospace & Engineering, Garware College, Genba Sopanrao Moze College of Engineering and Dnyansagar Arts and Commerce College.
Healthcare facilities in Baner are well-established, with leading hospitals including Seth Ramdas Shah Memorial Hospital, Shashwat Hospital, Jupiter Hospital, Medipoint Hospital, Aditya Birla Clinic, Oyster Hospital, Pearl Hospital, Ratna Memorial Hospital, and Saishree Hospital. Residents’ shopping needs are catered to by malls like Suyash Commercial Mall, Empire Green Shopping Centre, Primrose Mall, The Square, Regent Plaza Mall, Golden Empire, Centriole Mall, and Optimus Shopping Mall. Additionally, the locality features retail outlets of national and international brands, such as Pantaloons, Chroma, Westside, Idea and Reliance Digital, enhancing the overall lifestyle experience for Baner’s residents.
Baner, Pune: Residential properties
Baner, Pune, has witnessed a surge in rental demand, attributed to the city’s growing population, the IT sector’s expansion, and an influx of migrants. The area’s residential demand is primarily fuelled by working professionals employed in software companies situated within Baner and nearby employment hubs like Rajiv Gandhi Infotech Park in Hinjewadi. The residential landscape in Baner is predominantly characterised by multi-storey apartment projects. Notable developments include Puraniks Aldea Espanola, Paranjape Yuthika, Pride Platinum, Ganga Acropolis, Rohan Leher, and others, catering to the diverse housing needs of the vibrant community in the region.
Baner, Pune: Commercial properties
Baner hosts numerous prominent software companies, including Mediaocean, Cummins India, Siemens, Microsoft, and Xoriant Solutions. Its strategic proximity to the Rajiv Gandhi Infotech Park, a major employment hub spanning three phases in Hinjewadi, further enhances its appeal. The park accommodates a multitude of BPO entities, IT/ITeS, and notable players in the biotechnology and automotive sectors. Renowned companies like Cognizant, Infosys, Wipro Technologies, Tata Consultancy Services, Capgemini, among others, contribute significantly to Baner’s robust residential market. This thriving employment landscape acts as a key catalyst for the growth and development of the residential sector in Baner.
Baner, Pune: Price trends
There are several residential properties in Baner available for buying and renting. The average price of houses in the locality is Rs 9,485 per square foot (sqft), while the average rent is Rs 49,716 per month.
Why invest in Baner, Pune?
Baner, situated along the Western Metropolitan Corridor, stands out as one of Pune’s rapidly expanding zones, thriving in residential, commercial, and recreational spheres. Abundant greenery and excellent social amenities contribute to Baner’s appeal, making it an ideal residential destination. The real estate landscape caters to diverse budgetary requirements, with several renowned developers launching projects in the area. Boasting a well-maintained metro system, cutting-edge healthcare facilities and a plethora of upscale dining options, Baner offers a comprehensive living experience. Beyond its modern amenities, Baner is rich in historical, religious, and natural attractions, further enhancing its allure. This propitious environment presents an opportune moment for property investment in Baner.
FAQs
Is Baner an affordable neighbourhood?
Absolutely. Baner is recognized for its affordability within the city. While it may not be the most affluent district, it stands out for offering good-quality, budget-friendly housing options.
Are there any tourist attractions near Baner?
Baner is renowned for its proximity to several prominent attractions: (1) Shaniwar Wada (2) Pune-Okayama Friendship Garden (3) Shri Chattushringi Devi Mandir (4) Sinhagad Fort (5) Aga Khan Palace (6) Pashan Tekdi
How is property value determined based on the circle rate?
Property value is calculated by multiplying the circle rate in the area by the property's built-up area in square metres.
What happens if the market value is lower than the circle rate?
If the market value is lower than the circle rate, the property must be registered based on the higher value, which is the circle rate.
What is the stamp duty value?
Stamp duty is calculated by considering various factors, including market value, transaction value, or circle rates set by the local government.
What factors influence the circle rate of an area?
Circle rates depend on various factors, including the location of your sector, infrastructure, amenities provided, and economic factors.
Is it mandatory to pay house tax in Pune?
Yes, property tax payment is compulsory in Pune for all property owners.
| 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 |
