Pune real estate sees 8% growth in sales volume, 27% in value: report
PUNE: Pune has clocked sales of around 53,000 housing units in the period between January and July 2021 as compared to about 49,000 housing units between January and July 2019 indicating an almost 8% growth, according to a real estate market analysis report by CREDAI-Pune Metro and CRE Matrix.
In value terms, Pune has clocked housing sales worth approximately Rs27,500 crore from January to July 2021 as compared to around Rs21,500 crore from January to July 2019 indicating an about 27% growth in the sales of higher ticket size housing units in 2021, revealed the report released during CREDAI-Pune Metro’s 38th annual general meeting (AGM) on Monday.
Region-wise in the period between January and July 2021, 26% of housing sales came from the northwest (Baner, Balewadi up to Mahalunge) at Rs7,160 crore; 23.5% came from Pimpri-Chinchwad; while 19%, 15%, 14% and 3% of housing sales came from the northeast, southwest, southeast and central Pune, respectively.
Housing units priced above Rs2 crore per unit witnessed cumulative sales worth Rs2,350 crore from January to July 2021 with an 88% growth as compared to cumulative sales worth Rs1,250 crore from January to July 2019. Whereas housing units priced below Rs70 lakh per unit witnessed 63% cumulative sales from January to July 2021 as compared to 69% from January to July 2019, indicating a rise in the sales of higher ticket size housing units in 2021. Pune witnessed launches of large-sized projects from January to July 2021, indicating rising buyer preference for community living vis-à-vis 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 it collected the data through two platforms including Indextap and Floortap that provide authentic information on real estate.