Pune gains 8% sales and 27% value growth in real estate

Real estate market in Pune saw sale of 53,000 housing units between January and July 2021 compared to 49,000 housing unit sales between January and July 2019 which shows 8% growth in the market.

Pune: In term value, the state has sold properties worth Rs 27,500 crore from January to July 2021 compared to 21,500 crores from January to July 2019 indicating a 27% increase in the property sales of higher ticket size housing units in 2021. The report was revealed during CREDAI-Pune Metro’s 38th annual general meeting (AGM) on Monday.

The period between January and July 2021 has proven to be great for Pune real estate market. The market witnessed sales of 53,000 housing units during this period more than compared to 49,000 housing unit sales during January and July 2019 showing a total of 8% growth, according to a real estate market analysis report by CREDAI-Pune Metro and CRE Matrix.

According to the region divide from January to July 2021, most housing sales came from the northwest region of Pune which includes Baner, Balewadi up to Mahalunge with total property value of Rs 7,160 crore; 23.5% sales came from Pimpri-Chinchwad; 19% from the northeast region, 15% from the southwest region, 14% from the southeast and 3% of housing sales came from central Pune.

Household units that are worth 2 crore per unit saw the most sales growth worth Rs 2,350 crore from January to July 2021 compared to sales worth Rs 1,250 crore in the year 2019 showing 80% growth. However, Housing units worth below 70 lac per unit witnessed 63% sales growth from January to July 2021 compared to a 67% increase last year. During the January to July 2021 period, Pune witnessed the launch of large housing projects that shows the buyers’ interest in community living as compared to individual housing and small societies.

Anil Pharande, president, CREDAI-Pune Metro, said, “An informed market research based on real-time survey is the right way to tackle the turbulent times faced by the real estate market today. The report has real sales data derived from IGR Maharashtra and what makes it interesting is that it compares sales for the same period in the two preceding years, 2019 and 2020, with optimistic results. This collaboration with CRE Matrix will enable our member developers to analyse markets scientifically and plan projects successfully.”

Meanwhile, CRE Matrix said that they collected the data from Indextap and Floortap, both the platform provides factual data regarding real estate.

Published by– Hindustan Times