Pune’s real estate market sees growth by an outstanding growth of 27% in terms of value of sales & almost 8% in number of housing units sold in 2021 – CREDAI-Pune Metro report says
Real estate back on growth track
Larger homes sales growth by 88%, Pandemic induced demand for larger homes reveals report
Pune city has clocked about 53,000 sales of housing units in the period January-July 2021 as compared to about 49,000 units sale in January-July 2019 indicating the growth of almost 8%, in terms of value, Pune clocked Housing Sales of approx. Rs. 27,500 Cr. in January-July 2021 period as compared to Rs. 21,500 Cr. in January-July 2019 indicating a growth of 27% in sales of higher ticket size housing units in 2021 – revealed a Real Estate market analysis report by CREDAI-Pune Metro and CRE Matrix.
The report released during CREDAI-Pune Metro’s 38th Annual General Meeting provided scientific observations of the growth in the real estate market in different regions of Pune for the period – January to July 2021 in terms of number of units sold, the preferred unit size and preferred price segment.
CREDAI members including Anil Pharande, President, Arvind Jain, Secretary and Vice-Presidents including Ranjit Naiknavare, Amar Manjrekar, Manish Jain, Rajesh Choudhary, Vinod Chandwani and Aditya Javdekar and Members of Maharashtra Metro Rail Corporation Ltd including Dr. Brijesh Dixit, MD and Atul Gadgil, Director and Abhishek Gupta, CEO, CRE Matrix were present during the meet.
Regionally, in the period January – July 2021 about 26% of housing sales has come from the North-West region (Baner, Balewadi, upto Mahalunge) at Rs. 7,160 Cr., while Pimpri Chinchwad clocked about 23.5%. North-East Pune, South-West Pune, South-East Pune and Central Pune contributed approx. 19%, 15%, 14% and 3% respectively of total housing sales in period January-July 2021.
Housing units priced above Rs. 2 Cr. per unit witnessed cumulative sales of Rs. 2,350 Cr. in January-July 2021, with growth of 88% compared to sale of Rs. 1,250 Cr. in period January-July 2019.
The sale of housing units priced below Rs. 70 lakhs per unit was 69% in January-July 2019 compared to 63% during the period January-July 2021, indicating rise in sales of higher ticket size housing units in 2021.
Pune witnessed launches of large sized projects in period January-July 2021 indicating rising buyer preference towards community living compared to individual housing and small societies.
Anil Pharande, President, CREDAI-Pune Metro
Speaking on the report, 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 in 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 analyze markets scientifically and plan projects successfully.”
Abhishek Gupta said, “We, at CRE Matrix are passionate about our work, our data, our analysis and look forward to a long innings with CREDAI-Pune Metro.”
CRE Matrix collected the data through its two platforms including Indextap and Floortap that provide authentic information on Real Estate.
Atul Gadgil, Director, Maha Metro Rail also presented detailed insights on the Pune Metro Rail project, fuelling the growth of the city to CREDAI members during the meet.
In Pune, a growth of 8% was observed in terms of units sold for the period Jan-July 2021 over the period Jan-July 2019. However during the same period, growth in value of units sold was 28%, indicating an increase in sales of higher ticket size units. Also, total value of units priced above Rs. 2 Cr. for period Jan-July 2021 almost doubled, over the period Jan-July 2019.
Avg. value of units sold in Jan-July 2021 was 74 lakhs. Units sold saw a substantial growth of 41%, from 867 units during the period Jan-July 2019 to 1,221 units during the period Jan-July 2021. Key Localities – Sadashiv Peth, Mangalwar Peth, New Nana Peth, Shivajinagar, Ghorpadi etc.
In North East Pune
Avg. value of units sold between January-July 2021 was 57 lakhs. 345 units priced above Rs. 1 Cr. were sold in Jan-July 2019 period, which nearly doubled to 649 units during the Jan-July 2021 period. Key Localities – Wagholi, Mundhwa, Hadapsar, Kharadi, Dhanori, Lohegaon etc.
North West Pune
Avg. value of units sold January-July 2021 was 61 lakhs. Sale value of units priced above Rs. 1 Cr. saw a staggering 70% growth from Rs. 885 Cr. in Jan-July 2019 to Rs. 1,506 Cr. during the period Jan-July 2021. Key Localities – Hinjewadi, Wakad, Mahalunge, Tathawade, Baner, Sus, Balewadi etc.
South East Pune
Avg. value of units sold Jan-July 2021 was 53 lakhs. Key Localities – Undri, Kondhwa, MohammedWadi, Fursungi, Kondhwa Budruk, Yewalewadi etc.
South West Pune
Avg. value of units sold Jan-Jul’21 was 56 lakhs. An outlier, the region saw a drop of 22% in units sold, however, recorded a growth of 17% in value of units sold, indicating higher realization in sale prices. Key Localities – Bavdhan, Dhayari, Kothrud, Ambegaon Budruk, Nanded etc.
Avg. value of units sold Jan-July 2021 was 40 lakhs. It continues to remain an affordable market with more than 90% of units sold, priced less than Rs. 70 lakhs. Key Localities – Ravet, Chikhali, Punawale, Alandi, Moshi, Thergaon etc.