Same Budget, Two Cities: What Rs1.5 Crore Buys You in Pune vs Mumbai and Which One You Should Choose

Same Budget, Two Cities: What Rs1.5 Crore Buys You in Pune vs Mumbai and Which One You Should Choose
Author: Houssed | Posted on: 15-Dec-2025
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What would be worth ₹1.5 crore in today’s real estate market? In Pune, it would be generally a spacious, modern apartment. In Mumbai, it usually means compromising on space for location and connectivity. If you’re confused about where your money gets you a better deal, this Pune vs. Mumbai homes comparison gives you specifics on what the same budget will get you or cost in each city.

Pune: A comfortable 2BHK, sometimes even a 3BHK, in outskirts areas such as Hadapsar, Kharadi, Viman Nagar, Wakad, or parts of Baner. You can expect 800–1,200 sq ft of carpet space depending on the age and location of the apartment. These locations have modern apartments, and great amenities and offer good rental returns for IT professionals and families.

Mumbai: Space is the premium you pay for. ₹1.5 crore in mainstream Mumbai (Western Suburbs like Andheri, Goregaon, and Bandra East pockets) often gets you a compact 1BHK or a small 2BHK (sub-500–650 sq ft) in older towers. To get a larger 2BHK, you’ll likely need to move to Navi Mumbai/Thane/Panvel/Mira Road, where 2BHKs are feasible but with longer commutes. For the same money, Pune gives you more square footage and modern layouts; Mumbai gives you location, brand value, and liquidity. 

1. Neighbourhood callouts (realistic buyer perspective)

Pune picks:

Kharadi/Viman Nagar: Good for IT and multinational commutes, ready rentals, coffee shops, and short commutes to offices. Expect modern apartments and reliable water and power backup in most complexes.

Hadapsar / Wakad: Better value for larger flats; Wakad attracts techies working in Hinjewadi; Hadapsar is mixed and better for families who want schools and hospitals close.

Baner/Aundh: You may get slightly older flats with character and better connectivity to Pune’s western nodes.

Mumbai Picks

Andheri East / Goregaon / Malad (older towers): Compact flats, higher maintenance, but the city connectivity is real, airports, offices, and media hubs.

Navi Mumbai / Panvel / Kalyan / Thane: You can buy modern 2BHKs for ₹1.5 crore, but expect longer commutes; these areas could be an excellent choice if your job is in the suburbs or you prioritize space over daily travel time.

Pune offers smoother daily living but is more dependent on cars. Commuting is easy if your home and workplace are aligned. If your job is in Mumbai, buying in Pune may save money on paper but cost hours every week in travel or relocation stress.

2. The trade-offs that actually matter

  • Space & liveability: If you want a family home with two bedrooms and real living space, it gives you more for the money.
  • Job proximity: If your job is in the South / Central / Bandra-Powai corridors of Mumbai, the daily cost of travel and time can quickly cover the space savings in Pune.
  • Liquidity & resale: Mumbai’s market, even for small units, often turns faster, especially in well-connected areas. Pune’s resale can be slower in oversupplied micro-markets, though good properties in IT corridors still sell reasonably.

Rental Income & Yield Comparison

Pune rentals:

  • Strong demand from IT professionals, students and expats
  • Rental yields often range from 3–4% in good pockets
  • Easier tenant retention due to larger homes at reasonable rents

Mumbai rentals:

  • Higher absolute rents but very high purchase prices
  • Yields often hover around 2–3%
  • Strong demand near business districts, but tenant expectations are high
  • For buyers planning to rent out the property, Pune often offers a better yield-to-price balance, while Mumbai offers higher absolute rental demand.

Resale Value & Liquidity:

  • This is where Mumbai still holds an edge.
  • Mumbai properties Even small ones tend to be more liquid, especially in well-connected locations.
  • Pune resale depends heavily on micro-location and supply. Oversupplied areas can see longer selling timelines.
  • However, good Pune properties near job hubs with strong societies still command solid resale interest.
  • If you may need to sell within 3–5 years, Mumbai offers safer liquidity. For longer holding periods, Pune works well.

3. Hidden costs buyers often ignore:

  • Society sinking fund
  • Parking charges
  • Lift maintenance
  • Water tanker dependency
  • Renovation costs in older Mumbai flats

Maintenance Costs & Hidden Expenses

  • Pune: Generally lower maintenance costs, especially in mid-rise or practical societies.
  • Mumbai: Higher maintenance, parking constraints, and redevelopment uncertainties in older buildings.

Risk Factors Buyers Should Know

Pune risks

  • Oversupply in certain corridors
  • Price appreciation is micro-market driven, not city-wide
  • Some areas depend heavily on future infrastructure promises

Mumbai risks

  • Extremely small living spaces for the budget
  • Ageing buildings and redevelopment delays
  • High entry cost and limited size upside.  
       Factor                     Pune                Mumbai
       Typical Configuration   Spacious 2BHK / Compact 3BHK    1BHK or very small 2BHK 
Carpet Area      800–1,200 sq ft         400–650 sq ft 
    Building Age    Mostly new / mid-aged       Often older buildings
       Popular Localities   Hadapsar, Kharadi, Wakad,  Viman Nagar, Baner     Andheri East, Goregaon, Malad, Navi Mumbai, Thane 
   Lifestyle  Calm, spacious, family-friendly     Fast-paced, compact, city-centric  
   Commute    Car-dependent, smoother intra-city  Train/metro driven, time-efficient
  Rental Yield       3–4% (better value)             2–3% (high rents, high prices
  Resale Liquidity    Medium (location dependent)    High (especially near transit     hubs)
 Maintenance Cost   Moderate               Higher
   Best For  Families, WFH buyers, end   users    Career-focused buyers, short     holding periods

4. Buyer’s Final Checklist: Pune vs Mumbai (Before You Pay the Token Amount)

Universal Checks

  • Check carpet area, not super built-up area
  • Visit the property in the rush hours
  • Ask about owner vs tenant ratio in the society
  • Confirm water source (municipal vs tanker)
  • Test mobile network & broadband speed inside the flat
  • Ask for last 2 years’ maintenance bills

Pune-Specific Buyer Checklist

  • Is the area oversupplied with similar flats?
  • How far is the nearest IT hub / school / hospital in peak hours?
  • Does the society depend on future infrastructure promises?
  • Is parking disciplined or chaotic?
  • Will this location still work if you change your job?

Mumbai-Specific Buyer Checklist

  • How far is the nearest railway station or metro on foot?
  • Is the building due for redevelopment?
  • Are lifts, plumbing, and wiring regularly upgraded?
  • Is parking legal, covered, and transferable?
  • Can you live in this space for 10 years, not just 2? 

FAQ's

For space, affordability, and family living, yes, Pune often makes a great choice.

Yes, but expect a smaller home or an older building unless you move to extended suburbs.

Yes, but expect a smaller home or an older building unless you move to extended suburbs.

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