After the revision of Ready Reckoner (RR) rates, Prabhat Road and Model Colony have once again topped the list of the most expensive areas with the highest land rates in Pune.
As per the report by ToI, the most expensive areas, based on land rates, are Prabhat Road, Model Colony, Erandwane, Ghorpadi, and Kothrud.
Model Colony – ₹67,490 per square meter (₹6,270 per square foot)
Erandwane – ₹55,950 per square meter (₹5,198 per square foot)
Ghorpadi – ₹45,410 per square meter (₹4,219 per square foot)
Kothrud – ₹42,420 per square meter (₹3,941 per square foot)
Meanwhile, Nandoshi and Kirkatwadi remain the cheapest areas.
When it comes to residential flat property rates, Erandwane tops the list, followed by Koregaon Park, Prabhat Road, Model Colony, and Kothrud.
Residential Apartment Prices in Pune:
Koregaon Park: ₹1,79,490 per square meter
Prabhat Road: ₹1,65,220 per square meter
Model Colony: ₹1,46,190 per square meter
Kothrud: ₹1,21,540 per square meter
In the commercial real estate sector, the area stretching from Jungli Maharaj Road to Garware Island and Balgandharva Auditorium in Deccan has reported property rates of ₹1,30,850 per square meter, equivalent to ₹12,157 per square foot.
Punekars looking to buy a house will now face higher prices in few areas as the Maharashtra government has announced an increase in the Ready Reckoner (RR) rates for the financial year 2025-26. The new rates came into effect on April 1, 2025, marking a significant rise in property costs across Pune and Pimpri Chinchwad.
The Ready Reckoner rates have been increased by an average of 4.39% across the state, with Pune seeing a hike of 4.16% and Pimpri Chinchwad experiencing a sharper increase of 6.69%. This change means that homebuyers will have to pay more for property transactions, impacting both buyers and sellers in the region.
What Are Ready Recknor Rates?
The ready reckoner rate, often called circle rate or guidance value, signifies the lowest valuation established by the state government for properties within a specific region. It acts as a standard for determining different taxes, charges, and fees associated with property transactions, such as stamp duty and registration fees.
