Hinjewadi in Pune became an IT hub after the inception of the 2,800-acre Rajeev Gandhi IT Park around 1998. A sugar factory was initially planned; however, thanks to the IT boom, the IT Park came into being. It is one of the largest IT hubs in the country that employs over 2,50,000 people and contributes to the Indian economy. This area started seeing residential developments that have grown over the years. Its proximity to the Mumbai-Pune Expressway has helped its development.
See also: Circle rate in Bhosari, Pune
What is the circle rate?
The circle rate is the minimum value that an immovable property can command. It is often referred to as the ready-reckoner rate, the guideline rate or the guidance value. The circle rate helps calculate the stamp duty and registration charges during property purchase.
Factor on which the circle rate depends:
- Property’s location
- Infrastructure
- Connectivity
- The available configuration of properties
- Amenities
- Whether the property is residential, commercial or industrial
- Market demand for the property
Steps to check the circle rate in Pune
- Log on to the IGR Maharashtra website at https://igrmaharashtra.gov.in/Home
- Click on e-ASR below the stamps section.
- Click on the e-ASR 1.9 version.
- Select Pune on the map. Select taluka and village to see the required Annual Statement of Rates.
Hinjewadi circle rates
| Locality | Residential | Commercial |
| Hinjewadi | Rs 53,780 | Rs 88,500 |
Hinjewadi: Location and connectivity
The Hinjewadi flyover provides easy connectivity with other parts of the city. The Shree Shiv Chhatrapati Sports Complex is located at Hinjewadi. The Symbiosis Institute of International Business (SIIB) and Mercedes-Benz International School are also in the vicinity.
Why should you invest in residential properties at Hinjewadi?
Hinjewadi is a tech hub and boasts of a well-maintained residential locality. Owing to the presence of several IT companies, real estate investment here provides good returns. Work on the Pune Metro Line 3 has started that will connect Hinjewadi to Shivajinagar. Expected to be completed by 2025, this will further add value to this place.
Residential prices in Hinjewadi
According to Housing.com, the average price for buying an apartment in Hinjewadi is Rs 7,461, with the price range being Rs 571-12,690 per sq. ft. The average rent is Rs 28,065, with the rent range being Rs 10,000-75,000.
FAQs
How is the property value calculated?
Property value = Build-up area (sqm) X circle rate for the locality per sqm (in Rs).
What are the other names for circle rate?
The circle rate is known as the ready-reckoner rate or guidance value.
Where can you check the ready-reckoner rate online?
You can check the ready-reckoner rate under the Annual Statement Rate (e-ASR) tab on the IGR Maharashtra portal.
In which city is Hinjewadi?
Hinjewadi is in Pune.
What are the neighbouring areas of Hinjewadi?
The neighbouring locations include Baner, Balewadi and Aundh.
| 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 [email protected] |
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
