Pune: The Pune Metropolitan Region Development Authority (PMRDA) is currently evaluating the potential for a price increase on apartments within its housing projects. This move follows a review initiated by the Commissioner, who is assessing whether adjustments to the current pricing structure are warranted.
The existing apartment prices, set over a decade ago during the 2012-13 fiscal year, are now under scrutiny. Officials have been directed to compile and present data on the feasibility of a price adjustment. However, as of now, no conclusive decision has been reached by the PMRDA administration. Initially, the PMRDA had aimed to release the remaining apartments from the Walhekarwadi housing scheme and the Peth No. 12 project by the end of July. Technical complications have, however, delayed this timeline. Efforts to coordinate with the Maharashtra Housing and Area Development Authority (MHADA) are ongoing, with the hope of conducting a lottery for these homes in the near future. The delay has resulted in heightened public interest and numerous inquiries about the forthcoming lottery.
The PMRDA’s development includes 792 homes across Peth No. 30 and 32 in Walhekarwadi, which encompasses 378 one-room kitchen units for the economically weaker section (EWS) and 414 one-BHK apartments designated for the low-income group (LIG). Additionally, the Peth No. 12 project, funded under the Pradhan Mantri Awas Yojana, comprises 4,883 houses, with 3,317 earmarked for EWS and 1,566 for LIG. Currently, approximately 550 units remain vacant, slated for inclusion in an upcoming lottery. Unsold properties post-lottery will be made available to the general public. In addition to the apartments, 23 commercial shops will also be offered for purchase.
Despite a previous lottery conducted in December 2022, a number of these homes remain unsold, prompting the Commissioner to reconsider the pricing structure. Presently, prices stand at ₹19 lakh for a one-room kitchen and ₹25.5 lakh for a one-BHK in Peth No. 30 and 32, and ₹7.4 lakh for a one-BHK and ₹32.592 lakh for a two-BHK in Peth No. 12. The final decision on potential price hikes is awaited as preparations for the forthcoming lottery proceed.
