Pune, along with Pimpri-Chinchwad, witnessed a significant surge in registered home sales value for the July-September quarter of 2024, as reported by Square Yards.

Based on data from the Inspector General of Registration (IGR), the city’s home sales value jumped 19 per cent year-on-year (YoY), reaching ₹13,865 crore.

Despite a 1 per cent YoY decline in the number of transactions, with 18,806 residential deals registered, the average home sales value rose to a record-high of ₹74 lakh, up 20 per cent from last year.

Kolte Patil Developers emerged as the top performer, leading both in the number of registered transactions and sales value, with their Life Republic project in Hinjewadi standing out.

Pristine Properties followed, driven by strong sales at their O2 World project in Kharadi. Mahindra Lifespaces entered the top-10 developers list, with their Codename Crown project making significant gains in both transactions and value.

The share of premium homes priced above ₹1 crore grew to 18 per cent, compared to 13 per cent in the same period last year. Homes in the ₹1–2 crore range claimed the largest share at 15 per cent. Meanwhile, the share of homes priced below ₹50 lakh and between ₹50 lakh–₹1 crore declined from 87 per cent to 82per cent.

This shift towards higher-priced homes aligns with a growing preference for larger properties, with 11 per cent of transactions involving homes sized between 1,000–1,500 sq.ft., up from 8 per cent last year. However, units in the 500–1,000 sq.ft. range still dominated the market, accounting for 62 per cent of all registered transactions.

Sachin Vyas, Principal Partner and CSO, Square Yards said, “Pune remains one of the strongest residential 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 per cent year-on-year to an all-time high of ₹74 lakh in the September 2024 quarter, and the western suburbs even surpassing the ₹1 crore threshold.”

“Looking ahead, we are very optimistic about the market’s potential. With the festive season underway and developers offering attractive incentives, we anticipate a surge in buyer interest and demand in the coming months.”

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