The real estate market in Pune is on fire, with a 50% surge in registered property transactions in the April-June 2024 quarter compared to the same period last year. This growth highlights the thriving real estate sector in Pune, with 39,961 transactions recorded in Q2 2024, up by almost 50% from the previous year.
Residential properties accounted for 20,190 transactions, totaling a sales value of Rs 13,995 crore. The average registered home sales value reached a record high of Rs 69 lakh in Q2 2024, showing a significant 17% increase from the previous year.
Suhas Paithankar, from Square Yards, stated that Pune’s real estate market is booming due to increasing employment opportunities and higher disposable incomes. The demand for premium homes is on the rise, with properties priced between Rs 50 lakh–1 crore and Rs 1-2 crore seeing a significant increase in transactions.
The Pimpri-Chinchwad area and Pune’s western suburbs have been the most active, accounting for 67% of total registered transactions in Q2 2024. VTP Realty and Kolte Patil Developers emerged as market leaders, with their projects in Sus and Hinjewadi performing exceptionally well.
Overall, the trends from Q2 2024 suggest a thriving real estate sector in Pune, with a strong demand for premium properties and an optimistic outlook for the remainder of the year.
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