The real estate market in Pune has grown tremendously over the past decade, with rapid urbanization, IT hubs, and infrastructure development driving demand. However, buying a property involves complex legal aspects, and homebuyers must be aware of government policies and the Real Estate (Regulation and Development) Act (RERA) to ensure a safe investment.
This guide will help you understand how government policies and RERA protect homebuyers, what you need to check before purchasing a property, and how these regulations impact different locations in Pune.
1. What is RERA, and Why is It Important for Pune Homebuyers?
What is RERA?
The Real Estate (Regulation and Development) Act (RERA), 2016, was introduced to bring transparency, accountability, and efficiency to the real estate sector. It ensures that homebuyers are protected from project delays, fraud, and unfair practices.
Why is RERA Important?
- Ensures timely delivery of projects – Developers must deliver projects within the promised timeline.
- Transparency in pricing – Buyers only pay for the carpet area (usable area) and not the super built-up area.
- Security of buyers’ money – 70% of the amount collected from buyers must be deposited in an escrow account, ensuring it is used for project construction.
- Legal protection – Buyers can file complaints against developers for delays or misleading advertisements.
Example: How RERA Helped a Pune Homebuyer
Ramesh, an IT professional from Hinjewadi, booked a 2BHK flat in Tathawade in 2017. The developer delayed the possession for over three years and changed the project specifications without informing buyers. After filing a complaint with MahaRERA (Maharashtra RERA), he received compensation, and the project was completed under strict supervision.
Lesson: Always check if a project is RERA-registered before booking.
How to Verify a Project’s RERA Registration:
Visit the MahaRERA website and search for the project name or developer details.
2. Key Government Policies Impacting Pune Real Estate
Apart from RERA, several government policies affect Pune’s property market.
A) Stamp Duty & Registration Charges in Pune (2025)
When buying property in Pune, you must pay stamp duty and registration charges to the government.
✅ Current Rates:
- Stamp Duty: 6% (5% state tax + 1% local body tax)
- Registration Charges: 1% of the property value (capped at ₹30,000 for men, no cap for women)
💡 Tip: Women buyers get a 1% discount on stamp duty (Total = 5%).
🔹 Example: If you buy a flat worth ₹1 crore in Baner, your total charges would be:
- Stamp Duty = ₹6,00,000
- Registration Charges = ₹30,000
- Total Cost = ₹6,30,000
B) PMAY (Pradhan Mantri Awas Yojana) for First-Time Buyers
The PMAY (Urban) – Credit Linked Subsidy Scheme (CLSS) provides home loan interest subsidies to first-time buyers.
✅ Eligibility:
- Family income below ₹18 lakh per year
- Should not own another house
- The home loan must be for an RERA-registered project
✅ Subsidy Amount:
- EWS/LIG (Income < ₹6L): Up to ₹2.67L
- MIG-1 (Income ₹6L – ₹12L): Up to ₹2.35L
- MIG-2 (Income ₹12L – ₹18L): Up to ₹2.30L
🔹 Example: If Rajesh, earning ₹10 lakh per year, buys a home in Wagholi for ₹50 lakh, he can get a subsidy of ₹2.35 lakh on his home loan.
💡 Tip: Apply through your bank for PMAY benefits.
C) Metro & Smart City Impact on Property Prices
Pune’s metro expansion and Smart City Mission are key government initiatives influencing real estate growth.
✅ Metro Corridors (Phase 1 – Operational & Under Construction)
- Vanaz to Ramwadi (Covers Kothrud, Shivaji Nagar, Yerwada)
- PCMC to Swargate (Covers Pimpri, Shivaji Nagar, Camp)
- Civil Court to Hinjewadi (Boosting Hinjewadi, Balewadi, Wakad)
🔹 Impact:
- Property prices near metro stations are expected to rise 10-20% in the next 5 years.
- Best areas to invest: Kharadi, Hinjewadi, Baner, Tathawade, Wagholi.
💡 Tip: If you are investing, check for upcoming metro stations in the area.
3. How RERA & Government Policies Impact Different Pune Locations
| Location | Effect of RERA & Policies |
|---|---|
| Baner & Balewadi | High growth due to metro, luxury projects |
| Hinjewadi & Wakad | Strong IT demand, metro boosting property prices |
| Kharadi & Viman Nagar | Infrastructure growth and metro connectivity boost demand |
| Wagholi & Lohegaon | Affordable, benefits from PMAY & metro |
| Undri & Kondhwa | Budget-friendly, but check RERA compliance |
| Pimpri-Chinchwad | Infrastructure growth and metro connectivity boosts demand |
4. How to Ensure a Safe Property Investment in Pune?
Before buying property in Pune, follow these 5 essential checks:
✅ Check RERA registration – Visit the MahaRERA website
✅ Verify builder’s track record – Check past projects and delivery timelines
✅ Understand stamp duty & taxes – Factor in government charges
✅ Look at infrastructure growth – Metro, roads, IT parks impact appreciation
✅ Use PMAY if eligible – Avail government benefits for first-time buyers
Conclusion
Government policies and RERA have made Pune’s real estate market more transparent and secure. Whether you are a first-time buyer or an investor, understanding stamp duty, PMAY benefits, metro expansion, and RERA compliance can help you make a smart decision.
Thinking of buying a property in Pune?
Make sure to check RERA, research infrastructure plans, and choose a location that aligns with your needs. Happy home buying!
Would you like assistance in finding an RERA-registered project? Drop your requirements, and we can help! 🚀
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