{"id":937180,"date":"2024-10-30T12:22:20","date_gmt":"2024-10-30T06:52:20","guid":{"rendered":"https:\/\/www.squareyards.com\/blog\/?p=937180"},"modified":"2024-10-30T12:22:20","modified_gmt":"2024-10-30T06:52:20","slug":"square-yards-study-records-19-percent-rise-in-pune-registered-home-sales-in-q3","status":"publish","type":"post","link":"https:\/\/www.squareyards.com\/blog\/square-yards-study-records-19-percent-rise-in-pune-registered-home-sales-in-q3","title":{"rendered":"Square Yards Study Records 19% Rise in Pune\u2019s Registered Home Sales in Q3"},"content":{"rendered":"

One of the encouraging takeaways from the Indian housing market\u2019s Q3 performance has been the strides made in Pune. The city outperformed several other metropolitans in terms of registered sales value. In a recent Inspector General of Registration (IGR) data study, Square Yards observed a 19% Y-o-Y increase in Pune\u2019s registered home sales. This translates to an estimated \u20b913,865 crore worth of housing sales for 2024\u2019s July to September quarter. The average sales value has also shot up by a 20% year-on-year rise, reaching a record high of \u20b974 lakhs.\u00a0<\/span><\/p>\n

Sachin Vyas<\/strong>, Principal Partner & CSO at Square Yards<\/a>, observed, <\/span>\u201cPune remains one of the strongest residential markets in India, second only to Mumbai MMR. We are observing a distinct trend toward higher-end properties, with the average home sales value rising 20% year-on-year to an all-time high of \u20b974 lakhs in the September 2024 quarter and the Western Suburbs surpassing the one crore threshold. Currently, Pimpri-Chinchwad and the Western Suburbs are at the forefront of residential activity in Pune, driven by excellent connectivity and their strategic location near IT hubs.\u201d\u00a0\u00a0<\/span><\/i><\/p>\n

Housing sales in Pune during the same period last year amounted to \u20b911,626 crore. The current growth, however, is accompanied by a marginal 1% decline in the number of registered transactions for the same duration. Here is a quick summary of the city\u2019s housing market based on the IGR data:\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n
Pune Residential Market Overview 2024<\/b><\/td>\n<\/tr>\n
Particular<\/b><\/td>\nApril – June 2024 (Q2)<\/b><\/td>\nJuly – September 2024 (Q3)<\/b><\/td>\nJuly – September 2023<\/b><\/td>\nQ-o-Q Growth<\/b><\/td>\nY-o-Y Growth<\/b><\/td>\n<\/tr>\n
Registered Residential Transactions\u00a0<\/span><\/td>\n20,190\u00a0<\/span><\/td>\n18,806<\/span><\/td>\n18,907<\/span><\/td>\n-7%<\/span><\/td>\n-1%<\/span><\/td>\n<\/tr>\n
Registered Home Sales Value (GTV) (Rs.)<\/span><\/td>\n13,995 crore<\/span><\/td>\n13,865 crore<\/span><\/td>\n11,626 crore<\/span><\/td>\n-1%<\/span><\/td>\n19%<\/span><\/td>\n<\/tr>\n
Average Registered Sales Value (Rs.)<\/span><\/td>\n69 lakhs<\/span><\/td>\n74 lakhs<\/span><\/td>\n61 lakhs<\/span><\/td>\n6%<\/span><\/td>\n20%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Pune\u2019s Top Performers<\/h2>\n

Pimpri-Chinchwad, Western, and Eastern suburbs emerged as Pune\u2019s best-performing areas. Together, they accounted for 84% of the city\u2019s total registered home sales in Q3 2024. Pimpri-Chinchwad, the best of all three micro markets, contributed 34% to the total sales value and 46% of the residential transactions. Western and Eastern Suburbs collectively accounted for a 38% share in the total sales value. Rising IT activity and proximity to the Mumbai-Pune expressway and NH-48 are key factors behind the robust growth in these areas.\u00a0\u00a0<\/span><\/p>\n

Pune-based <\/span>Kolte Patil Developers<\/span><\/i> led in terms of sales value and registered transactions in the July-September quarter. Life Republic, their coveted integrated township in Hinjewadi, recorded the highest registered transactions and third-highest sales value. <\/span>Pristine Properties<\/span><\/i>\u2019 O2 World Project in Kharadi also contributed significantly to the city\u2019s transaction volume. Improving on last year\u2019s performance, <\/span>Mahindra Lifespaces<\/span><\/i> also made it to the list with contributions from the Codename Crown project in Pimple Nilakh.\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n
S.No.<\/b><\/td>\nTop Developers (Registered Home Sales Value in July-September 2024)<\/b><\/td>\nBest Performing Project<\/b><\/td>\nValue (Rs.)<\/b><\/td>\n<\/tr>\n
1.<\/td>\nKolte Patil Developers<\/span><\/i><\/td>\nLife Republic<\/span><\/i><\/td>\n425 crore<\/span><\/i><\/td>\n<\/tr>\n
2.<\/span><\/i><\/td>\nPristine Properties\u00a0<\/span><\/i><\/td>\nO2 World Project\u00a0<\/span><\/i><\/td>\n312 crore<\/span><\/i><\/td>\n<\/tr>\n
3.\u00a0<\/span><\/i><\/td>\nMahindra Lifespaces<\/span><\/i><\/td>\nCodename Crown<\/span><\/i><\/td>\n305 crore<\/span><\/i><\/td>\n<\/tr>\n
4.<\/span><\/i><\/td>\nLodha Group<\/span><\/i><\/td>\nLodha Giardino<\/span><\/i><\/td>\n217 crore<\/span><\/i><\/td>\n<\/tr>\n
5.\u00a0<\/span><\/i><\/td>\nVTP Realty<\/span><\/i><\/td>\nVTP Dolce Vita<\/span><\/i><\/td>\n202 crore<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n\n\n\n\n\n\n\n\n
S.No.<\/b><\/td>\nTop Developers (Registered Residential Transactions in July-September 2024)<\/b><\/td>\nBest Performing Projects<\/b><\/td>\nNo. of Units Sold<\/b><\/td>\n<\/tr>\n
1.<\/td>\nKolte Patil Developers<\/span><\/i><\/td>\nLife Republic<\/span><\/i><\/td>\n430<\/span><\/i><\/td>\n<\/tr>\n
2.<\/span><\/i><\/td>\nPristine Properties<\/span><\/i><\/td>\nPristine O2<\/span><\/i><\/td>\n314\u00a0<\/span><\/i><\/td>\n<\/tr>\n
3.<\/span><\/i><\/td>\nMahindra Lifespaces<\/span><\/i><\/td>\nCodename Crown<\/span><\/i><\/td>\n304<\/span><\/i><\/td>\n<\/tr>\n
4.<\/span><\/i><\/td>\nVTP Realty<\/span><\/i><\/td>\nVTP Dolce Vita<\/span><\/i><\/td>\n224<\/span><\/i><\/td>\n<\/tr>\n
5.<\/span><\/i><\/td>\nKumar Properties<\/span><\/i><\/td>\nKumar Primeview<\/span><\/i><\/td>\n206<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Segment Wise Breakdown\u00a0<\/h2>\n

The July-September quarter also witnessed a significant surge in the premium housing segment. Properties priced above \u20b91 crore recorded a robust 18% rise, surpassing the 13% growth during the same period last year. Of these, the sale of houses priced between \u20b91 and \u20b92 crores saw a maximum increase of 15%, indicating a promising potential for high returns.\u00a0<\/span><\/p>\n

Pune also noted interesting developments in buyers’ preferred configurations. While 500 to 1,000 sq. ft. remains the sweet spot, with a 62% share in all registered transactions, the demand for larger properties has significantly increased. The market share of properties between 1,000 sq. ft. and 1,500 sq. ft. has risen to 11% from the previous 8%, reflecting the evolving market dynamics.\u00a0<\/span><\/p>\n

Unlike these segments, lower-to-mid-priced properties witnessed a shift in market trends. Homes costing less than \u20b950 lakhs and between \u20b950 lakh and \u20b91 crore occupied an 87% share during the same period last year. Currently, they make up for a lesser 82% share in the market, indicating a shift in buyer preferences.\u00a0<\/span><\/p>\n

Expecting a continued phase of positive developments, Sumit Vyas added, \u201c..<\/span>Looking ahead, we are very optimistic about the market\u2019s potential. With the festive season underway and developers offering attractive incentives, we anticipate a surge in buyer interest and demand in the coming months.<\/span><\/i>\u201d<\/span><\/p>\n

Read more through the links below to uncover the key trends and market leaders driving this growth:<\/p>\n

The Hindu Business Line –<\/strong> https:\/\/bit.ly\/3O30pQV
Realty NXT –<\/strong> https:\/\/bit.ly\/3UoI0kM
The Realty Today –<\/strong> https:\/\/bit.ly\/4e2R3iu
Realty & More –<\/strong> https:\/\/bit.ly\/3BXW5Q6
Free Press Journal –<\/strong> https:\/\/bit.ly\/4fhNupF<\/p>\n

\n

Published Date<\/strong>: 23 Oct, 2024<\/p>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

One of the encouraging takeaways from the Indian housing market\u2019s Q3 performance has been the strides made in Pune. The city outperformed several other metropolitans in terms of registered sales value. In a recent Inspector General of Registration (IGR) data study, Square Yards observed a 19% Y-o-Y increase in Pune\u2019s registered home sales. This translates […]<\/p>\n","protected":false},"author":110,"featured_media":937181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[234],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/937180"}],"collection":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/comments?post=937180"}],"version-history":[{"count":2,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/937180\/revisions"}],"predecessor-version":[{"id":937184,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/937180\/revisions\/937184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media\/937181"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media?parent=937180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/categories?post=937180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}