Real Estate Price in Lonavala Vs Mumbai and Pune

A small hill town with abundant beauty…

Lonavala is a hill station that stands out for a variety of reasons. The place has rich historical ties and became famous when it was discovered in the year 1817 by Sir Elphinstone. Earlier Lonavala is said to have been called Lonavali, which meant ‘’surrounded by caves’’. True to its name, this hill station is close to Karla, Bhaja and Bedse caves that depict Buddhist and other religious carvings.

Coming to the present day, Lonavala is the closest hill station to Pune and a fairly close hill station to Mumbai situated at a distance of 65 km and 85 km respectively. It goes without saying that as the growth of Pune and Mumbai as business centres accelerated the growth of Lonavala as a place to unwind. As it is very close to the city, Lonavala became a natural choice for people looking to invest in a holiday home that is situated in a visually appealing and quiet place. This contributes Lonavala properties to gain significant appreciation year on year (y-o-y).

The pacing trend of work from home in the recent past and its scope in future motivates most of the professionals in Mumbai and Pune due to which the online search for the property for sale in Lonavala keep increasing day by day. This is greatly supported by the ease of accessibility of Lonavala from Pune & Mumbai. Last but not the least, Lonavala has diverse attractions like Della adventure park, Imagicaa Amusement Theme Park, Sunil wax museum, Clubs  apart from numerous viewpoints which any hill station use to have normally. Adding to it, the unparallel robust infrastructure in Lonavala be it education or health care, made mind set of Mumbaikars that investment in Lonavala is a  safe and high return on investment (ROI)  destination.

Having said that let us look into property price trends in this town. The following data has been compiled from trusted sources on the internet as of Q2 2021. Let’s begin with residential land price.

Land price in Lonavala Vs Major Cities

The average price for residential plots in top localities inPune,Navi Mumbai, Mumbai and Thane are as shown below. The respective areas considered are

• Pune - Hadapsar
• Navi Mumbai – Karanjade
• Mumbai – Girgaon
• Thane – Thane West

The prices are compared with average land price in Talegaon Dabhade,Lonavala

The unit is in Rs. / sq. ft

Builder floor price in Lonavala Vs Major Cities

The average price for builder floor in top localities in Pune, Navi Mumbai, Mumbai and Thaneare as shown below. The respective areas considered are

• Pune – Bibwewadi
• Navi Mumbai – Belapur
• Mumbai – Bhendi Bazaar
• Thane – Naupada

The prices are compared with average price in Bhangarwadi, Lonavala

The unit is in Rs. / sq. ft

Apartment price in Lonavala Vs major cities

The average price for apartment in top localities in Pune, Navi Mumbai, Mumbai and Thane are as shown below. The respective areas considered are

• Pune – Mohamadwadi
• Navi Mumbai –New Panvel
• Mumbai – Worli
• Thane –Vartak Nagar

The prices are compared with average flat price in Kusgaon Budruk, Lonavala

The unit is in Rs. / sq. ft

Independent houses / villa prices in Lonavala Vs Major Cities

The average price for independent house in top localities in Pune, Navi Mumbai, Mumbai and Thane are as shown below. The respective areas considered are

• Pune – Vishal Nagar
• Navi Mumbai – Old Panvel
• Mumbai – Lower Parel West
• Thane – Manpada

The prices are compared with average house / villa price in Waksai, Lonavala

The unit is in Rs. / sq. ft

What do we infer?

• Lonavala is a fairly affordable real estate destination in Maharashtra as compared to major cities in plains

When compared with real estate in Mumbai as a benchmark, the property price in Lonavala is as given below

• One can buy plot in Lonavala at only 38% of the land / plot price in Mumbai
• Builder floor prices in Lonavala are only 1/4^th of the price in Mumbai

As compared to its real estate in Pune, the nearest city,

• Flats are 37% cheaper than the flat price in Pune
• Independent houses and Bungalows in Lonavala prices are 33% lesser than the price in Pune. Need not to say, It should be many folds cheaper when compared to Mumbai.

Apart from the price point, what makes Lonavala click as a destination?

• The hill station has lesser altitude of 624m, suitable for visitors of all ages as it is not too steep
• A Lonavala villa is the most preferred choice of summer retreat and stress buster to most of the celebrities and top executives of corporate in Mumbai and western Indian Cities due to its hassle free accessibility by expressways, train and air. Also it is considered as one of a status symbol of them.
• Presence of reputed builders in Lonavala and their creative concepts to meet diverse segment buyer requirements and their budget through variety of projects in Lonavala right from row houses, affordable housing to independent villas and luxury bungalows in serene environments.
• The conducive average annual temperature of 24 °C in Lonavala is a great respite from the humid climate of Pune and Mumbai

Are you interested in Lonavala real estate?

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