Pune Metropolitan Region Development Authority (PMRDA) has announced the release of unsold housing units, after a gap of nearly two years.
However, the latest lottery of these homes comes with a significant price hike, sparking concerns over affordability. Prices for flats in Sectors 30-32 have been increased by ₹1.5 to ₹2 lakh, which PMRDA claims is in line with current market rates as per the government’s Ready Reckoner.
The housing project includes 4,883 flats in Sector 12 and 792 flats in Sectors 30-32, all originally marketed as affordable options for the common man.
Despite this, the earlier phase of the project did not receive a satisfactory response. Factors such as the high initial cost of flats, a 10% deposit requirement, complex procedures, and concerns over construction quality were cited as reasons for the lukewarm reception.
As a result, over 1,337 flats remained unsold when the process was paused in December 2022.
Local residents have expressed concerns that the increased prices may further limit access to these homes, especially given the large number of workers and laborers in Pimpri-Chinchwad.
Many fear that the hike in costs will push these units out of reach for the common citizen, raising doubts about the success of the upcoming lottery.
The PMRDA has raised prices for flats in Sector 30-32 from the earlier range of ₹19 lakh to ₹25 lakh, to ₹20 lakh to ₹28 lakh. In Sector 12, prices previously ranged from ₹7 lakh to ₹32 lakh, but have now been raised to ₹15 lakh to ₹35 lakh.
PMRDA Commissioner Yogesh Mhase stated that the pricing is consistent with government norms. He added that the response from citizens will be closely monitored, and if it is found lacking, a report will be sent to the Chief Minister for further action.
