Pune’s real estate market has experienced a remarkable surge, with registered transactions increasing by 50 per cent in the June quarter, according to the latest report by Square Yards. The report highlights a substantial rise in the number of transactions registered with the Inspector General of Registration (IGR), reaching 39,961 between April and June 2024, up from 26,629 during the same period last year.
Of the total transactions in Pune, 20,190 were residential, contributing to a registered sales value of ₹13,995 crore, marking a three per cent annual increase. The average registered home sales value hit an all-time high of Rs. 69 lakh in the second quarter of 2024, reflecting a robust 17 per cent year-over-year growth. This shift underscores a strong preference among homebuyers for high-end and premium properties, driving the average sales value to new heights.
The share of residential transactions for properties priced between Rs. 50 lakh and one crore rose to 39 per cent in the June quarter, up from 36 per cent in the same period the previous year. Additionally, transactions for properties priced between ₹1 crore and two crore nearly doubled, increasing to 14 per cent from nine per cent year-on-year. Properties within the 500 to 1,000 square feet range continue to dominate the market, representing 62 per cent of all transactions, with 1 BHK and 2 BHK configurations remaining the most preferred choices among homebuyers.
“Pune continues to stand out as one of India’s top-performing cities, second only to Mumbai MMR,” says Suhas Paithankar, Associate Principal Partner, Square Yards. “The June quarter’s data highlights a healthy 17 per cent annual increase in the average registered sales value, reaching an all-time high of ₹69 lakh. This underscores a robust demand for premium homes, fuelled by rising employment opportunities, increased disposable incomes, and a shift towards aspirational lifestyle” he added.