Pune, often called the “Oxford of the East,” has evolved from a quiet educational hub into one of India’s fastest-growing urban centers. Known for its pleasant climate, expanding IT industry, and vibrant culture, Pune attracts thousands of professionals, students, and families every year. With this influx comes a constant demand for rental housing — from budget-friendly studios to luxurious high-rise apartments.
If you’re planning to rent an apartment in Pune, understanding the city’s real estate trends, popular neighborhoods, legal aspects, and budgeting tips can help you make an informed decision. This guide covers everything you need to know before signing your next lease.
Pune is more than just a city — it’s a lifestyle destination. Here are some reasons why people choose Pune for renting apartments:
Employment Opportunities: Pune’s IT parks such as Hinjewadi, Magarpatta City, and EON IT Park host major tech giants like Infosys, Wipro, TCS, and Cognizant, making it an attractive choice for professionals.
Education Hub: The city houses renowned institutions such as Symbiosis, Fergusson College, and Savitribai Phule Pune University, drawing students nationwide.
Quality of Life: Pune offers a balanced mix of urban infrastructure, green spaces, and moderate weather throughout the year.
Connectivity: With the Mumbai-Pune Expressway and Pune International Airport, the city offers easy access to major destinations.
Each area in Pune offers a unique blend of convenience, lifestyle, and affordability. Here’s a quick look at some of the most popular localities for renting:
| Area | Best For | Average Monthly Rent (2BHK) |
|---|---|---|
| Hinjewadi | IT professionals | ₹20,000 – ₹40,000 |
| Kharadi | IT employees, families | ₹25,000 – ₹45,000 |
| Koregaon Park | Luxury living, expats | ₹40,000 – ₹80,000+ |
| Baner & Balewadi | Young professionals | ₹25,000 – ₹50,000 |
| Viman Nagar | Students, airport connectivity | ₹20,000 – ₹35,000 |
| Wakad | Families, tech workers | ₹20,000 – ₹40,000 |
| Kothrud | Traditional residential area | ₹18,000 – ₹35,000 |
| Hadapsar | IT and industrial workers | ₹20,000 – ₹40,000 |
These prices can vary depending on amenities, building age, and proximity to key locations.
Before finalizing a property, it’s important to understand the types of rental apartments available in Pune:
Studio Apartments: Ideal for single professionals or students; compact and affordable.
1BHK Apartments: Perfect for young couples or small families looking for moderate space.
2BHK & 3BHK Apartments: Commonly preferred by families; offer better comfort and amenities.
Serviced Apartments: Fully furnished, short-term rentals for corporate stays.
Luxury Apartments: Found in prime areas like Koregaon Park and Baner, offering premium amenities such as swimming pools, gyms, and security systems.
Rent in Pune depends on various factors, including:
Location: Prime areas cost more due to convenience and accessibility.
Furnishing: Furnished apartments can be 15–30% costlier than unfurnished ones.
Amenities: Properties with facilities like gyms, parking, and security command higher rent.
Property Age: Newer apartments are priced higher due to better maintenance and modern infrastructure.
A general rule of thumb is that tenants in Pune typically spend 25–35% of their income on rent.
Renting an apartment involves a few legal formalities that safeguard both the tenant and landlord. Here’s what you need to know:
A. Rental Agreement
The rental agreement should include:
Duration of stay (usually 11 months)
Monthly rent and security deposit
Maintenance and utility responsibilities
Notice period for vacating the property
Most landlords and tenants opt for an 11-month agreement to avoid registration under the Rent Control Act.
B. Police Verification
It is mandatory for tenants to undergo police verification in Pune. This helps prevent legal issues and ensures safety for both parties.
C. Security Deposit
Landlords usually ask for a security deposit of 2–3 months’ rent. This deposit is refundable when the tenant vacates the property, provided there are no damages or dues.
Finding the perfect apartment can take time. Here are some smart tips to simplify your search:
Set a Budget: Decide how much you can afford monthly, including rent, maintenance, and utilities.
Use Reliable Platforms: Use trusted websites or apps like 99acres, MagicBricks, or NoBroker to explore verified listings.
Inspect the Property: Always visit the property before signing. Check for water supply, power backup, and building security.
Negotiate Rent: Landlords are often open to small negotiations, especially for long-term tenants.
Check Connectivity: Ensure proximity to offices, schools, markets, and public transport.
Review Maintenance Costs: Clarify whether maintenance charges are included in rent or separate.
Rent is only part of your total expenses. Here’s a brief estimate of the monthly cost of living for a small family in Pune:
| Expense Type | Average Monthly Cost (₹) |
|---|---|
| Rent (2BHK) | 25,000 – 40,000 |
| Utilities (Electricity, Water, Gas) | 2,000 – 4,000 |
| Groceries | 6,000 – 10,000 |
| Internet & Mobile | 1,000 – 1,500 |
| Transportation | 2,000 – 4,000 |
| Miscellaneous | 3,000 – 5,000 |
| Total Estimate | ₹40,000 – ₹65,000 |
Pune’s rental housing market is poised for steady growth. Here are some future trends to watch:
Smart Homes: Increasing demand for apartments with IoT-enabled features like smart locks and lighting.
Co-living Spaces: Gaining traction among students and professionals seeking affordable, community-based living.
Hybrid Work Influence: Proximity to business districts remains valuable, but more renters are prioritizing quiet, green neighborhoods post-pandemic.
Rise in Rental Yields: Due to the continuous influx of migrants and tech expansion, rental yields are expected to rise by 6–8% annually.
To make your rental journey smoother:
Keep all documents ready — ID proof, salary slips, and references.
Read the rental agreement carefully.
Discuss repair responsibilities upfront.
Prefer digital payments for rent to maintain a clear record.
Build a cordial relationship with your landlord for hassle-free living.
Renting an apartment in Pune offers a world of opportunities — from convenient city life to a balanced lifestyle surrounded by nature and innovation. Whether you’re a student, working professional, or a family relocating for better prospects, Pune has something for everyone.
By understanding the city’s neighborhoods, legal processes, and rental trends, you can secure the best deal for your budget and lifestyle. With thoughtful planning and informed choices, renting in Pune can be a smooth, rewarding experience.