New Delhi [India], September 23: An exclusive conversation with Nikhil Mawale on evolving homebuyer preferences, emerging Pune micro-markets, affordability challenges, technology-led property discovery, NRI demand and PropertyDrone Realty’s expansion plans

Pune’s real estate market has been witnessing a shift in the way homebuyers approach property purchases, with affordability increasingly influencing location preferences, configurations and purchase timelines. As land and construction costs continue to rise, buyers are becoming more open to emerging micro-markets that offer relatively accessible price points along with connectivity and future development potential.

At the same time, the property-buying journey itself is becoming increasingly digital. From social media and online research to 360-degree property tours, drone views and generative AI, technology is giving consumers access to more information before they make a purchase decision.

Against this changing backdrop, Nikhil Mawale, Co-Founder & CEO, PropertyDrone Realty, shares his perspective on the evolving Pune real estate market, changing consumer behaviour and the company’s growth roadmap.

Affordability is changing where Pune homebuyers are looking

According to Nikhil, one of the most visible changes in Pune’s housing market is the growing importance of affordability in determining where buyers choose to live.

“I think because of the significant rise in construction and land costs, buyers are shifting towards options where they can afford their homes. This was not the scenario five years back. Buyers were very rigid about location earlier, but now their preference has shifted towards alternative locations where they can afford it,” Nikhil stated.

The shift is also visible in the type of homes buyers are seeking. Post-Covid, Nikhil has observed an increase in demand for larger configurations, particularly smart 3 BHK and luxury 3 BHK homes, as buyers reassess their space and lifestyle requirements.

This change suggests that buyers are increasingly balancing three factors — location, affordability and the quality of the home they can obtain within their budget.

Emerging micro-markets are gaining momentum

As buyers become more flexible about location, several emerging micro-markets are attracting greater attention.

Nikhil highlighted Punawale and Kiwale in West Pune as markets witnessing good traction. In North-West Pune, locations such as Hinjewadi are also seeing demand, particularly due to their relative affordability and proximity to the wider employment ecosystem.

In eastern Pune, Wagholi and Manjari have seen good demand, while Dhanori has also emerged as a market with healthy buyer interest.

According to Nikhil, demand continues to rise across the affordable and affordable-premium segments, where buyers are increasingly evaluating not just current prices but also connectivity, infrastructure and the potential development of a location over the coming years.

The trend reflects a broader evolution in Pune’s property market, where buyers are no longer looking exclusively at established neighbourhoods but are increasingly assessing emerging locations based on their overall value proposition.

Rising prices are putting pressure on entry-level housing

While demand remains present, affordability is becoming a bigger challenge for a section of Pune’s homebuyers.

Nikhil pointed out that the availability of 1 BHK apartments has reduced as several developers have shifted towards larger configurations. This has made the entry-level segment more difficult for buyers seeking properties below the ₹50 lakh ticket size.

“Now most of the builders in Pune have stopped making 1 BHK apartments, which is making property purchase for affordable properties tough for buyers because of the shortage of such inventory. Ticket sizes under ₹50 lakh are difficult to get,” Nikhil explained.

The pressure is also visible in the 2 BHK segment. According to him, the availability of 2 BHK homes priced below ₹70–75 lakh has reduced considerably across several affordable micro-markets following the rise in property prices.

This affordability challenge is also affecting the pace of decision-making.

“Buyer behaviour has also changed drastically because of unaffordability and the current global tensions. Most of the buyers are taking longer to purchase properties and taking decisions,” Nikhil said.

For buyers, this means greater time is being spent comparing projects, evaluating financial commitments and assessing whether a particular property fits within their long-term plans.

Technology is becoming an important part of property discovery

Technology has been central to PropertyDrone Realty’s approach since its inception in 2020.

The company started operations around the period when the Covid-19 pandemic disrupted conventional property visits. With buyers unable to physically visit projects, digital platforms became an important alternative for discovering and evaluating properties.

Nikhil explained that PropertyDrone Realty began creating informative content across YouTube, Instagram, Facebook and LinkedIn, along with project reviews aimed at helping consumers understand properties remotely.

Over time, the company identified another requirement among buyers — the need to understand the actual surroundings and views associated with a property.

“Buyers were more interested in seeing the view and bird’s-eye view of the areas around the properties. So, we also started adding drone shots to the reviews,” Nikhil stated.

The company’s technology-led approach has since expanded to include 360-degree property tours, drone views from specific floors and comparative analysis of properties.

These tools are intended to give prospective buyers greater visual clarity about a property and its surroundings before they make a purchase decision.

Building a consultancy around real estate education

Since its inception, PropertyDrone Realty has expanded across residential, commercial and luxury residential properties in Pune.

Nikhil shared that the company has sold more than 500 properties over the last six years and has worked with several leading developers, including Godrej Properties, Shapoorji Pallonji, K Raheja Corp, Kolte Patil Developers and Panchshil Realty, among others.

Alongside transactions, the company has also focused on creating real estate-related content and educating consumers.

“We have created more than 1,000 pieces of content in and around Pune on YouTube, LinkedIn and Instagram, which is helping buyers with the right education and awareness about real estate,” Nikhil stated.

As consumers increasingly conduct their own research before approaching a real estate consultant, this emphasis on digital content has become an important part of how property buyers discover and evaluate opportunities.

NRI buyers are looking at Pune with a long-term perspective

Pune continues to attract interest from NRI buyers, particularly those considering the city as a future retirement destination.

According to Nikhil, many NRI buyers are exploring under-construction properties in emerging locations where development is expected to take place over the next five to ten years.

There is also interest in plots and villas, particularly in gated communities and integrated townships.

“NRI buyers are very specific about the community with whom they are living. Like-minded communities and branded developers are non-negotiable for NRI buyers,” Nikhil stated.

For this segment, the decision goes beyond the property itself. Developer credibility, community profile, future development and the overall living environment can all influence the purchase decision.

The role of the real estate consultant is also evolving

As property buyers gain access to more information online, the role of a real estate consultant is changing from simply presenting available properties to helping consumers interpret and evaluate information.

Nikhil believes that one of the most common mistakes first-time buyers make is navigating the property market without adequate professional guidance.

“The biggest mistake is not hiring or connecting with an experienced and professional real estate consultant,” Nikhil stated.

A property purchase involves several considerations, including location, developer credentials, pricing, documentation, construction quality, connectivity and future development potential.

For buyers, professional advice combined with independent due diligence can therefore become an important part of the decision-making process.

For PropertyDrone Realty, this is where its combination of technology, market knowledge and consumer education becomes relevant.

AI is creating a more informed property consumer

The emergence of generative AI is expected to further influence the way consumers research real estate.

Nikhil observed that buyers are increasingly using platforms such as ChatGPT and Claude to understand property markets and locations before turning to search engines and social media for more specific information.

“People are searching for properties on ChatGPT and Claude and then they go to search engines and social media for enquiries. They cross-verify everything on generative AI platforms, which is making them more aware and informed in this competitive market,” Nikhil explained.

This shift is creating a more information-driven consumer who can compare multiple sources before approaching a developer or consultant.

Nikhil believes this will make transparency and relevant digital information increasingly important for real estate companies.

For PropertyDrone Realty, the strategy is to remain active across social media as well as print and online media, while keeping its website updated with relevant news and property listings.

PropertyDrone Realty plans to expand beyond Pune

With its focus currently centred on Pune, PropertyDrone Realty is now preparing for the next phase of its growth.

The company plans to establish a dedicated vertical for commercial properties in Q4 and expand its presence in East Pune in the coming financial year.

The longer-term roadmap includes markets such as Mumbai, Hyderabad, Bengaluru and Dubai.

“We are planning to start a dedicated vertical for commercial properties in Q4. We are also planning to expand in Pune East in the coming financial year and after two years, Mumbai, Hyderabad, Bangalore and Dubai are our next markets where we will penetrate,” Nikhil stated.

The planned expansion represents the company’s ambition to take its technology-led real estate consulting approach into new markets while building on its experience in Pune.

Building a premium real estate consulting brand

For Nikhil, the long-term vision for PropertyDrone Realty goes beyond expanding into new cities.

The objective is to build a brand that is recognised for trust, transparency and professional real estate consulting, while helping consumers make better-informed property and investment decisions.

“I want PropertyDrone Realty to be known as the most trusted, transparent and catalyst in terms of returns on investment and the most premium real estate consulting company in India in the coming years,” Nikhil stated.

As Pune’s real estate market continues to evolve, affordability, location, configuration, technology and long-term value are likely to remain central to the homebuyer’s decision-making process.

For PropertyDrone Realty, the next phase will involve combining its Pune market experience with technology-enabled property discovery, consumer education and a broader geographic footprint.

With plans to expand into commercial real estate and eventually enter markets including Mumbai, Hyderabad, Bengaluru and Dubai, the company is looking to build on its technology-first approach while positioning itself as a broader real estate advisory platform.