Comments
Pune’s real estate market witnessed a growth in transactions and overall sales value in the first quarter of 2024.
According to Square Yards Data Intelligence, property registrations recorded by the Inspector General of Registration (IGR), Maharashtra, surged by 49 per cent compared to Q4 2023, at 27,056. Correspondingly, the sales value rose by 56 per cent, at ₹17,837 crore.
Among developers, VTP Realty led the pack with sales worth ₹951 crore from 1,083 transactions. Kolte Patil Developers followed with sales of ₹643 crore, and Vilas Javdekar Developers with ₹491 crore.
Among the top projects, VTP Dolce Vita recorded the highest sales of ₹469 crore from 580 transactions, followed closely by Pride World City and Kolte Patil Life Republic.
Market segmentation
Nearly half (45.4 per cent) of the properties were priced below ₹50 lakh; 39 per cent were priced between ₹50 lakh and ₹1 crore; and 13.2 per cent between ₹1 crore and ₹2 crore. A majority of the properties (63.4 per cent) were 500-1,000 sq ft in size.
The Real Estate Regulatory Authority (RERA) reported 194 new projects in Q1 2024, comprising 13,191 units measuring 1.17 crore sq ft. Pimpri Chinchwad, Pune East, and Pune West saw the most new project launches.
Micro-markets
The micro-markets in Pune showed varied performance, with Pimpri Chinchwad leading with sales of ₹7,512 crore from 13,311 transactions. Pune West and Pune East registered sales of ₹4,445 crore and ₹3,545 crore, respectively. Pune South and Pune Central also saw substantial activity, indicating market growth across the city.
Among localities, Baner topped with sales of ₹880 crore from 766 transactions. Wagholi, Wakad, and Hinjewadi followed closely.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.