Pune, Maharashtra, 22nd of October, 2024 : Pune, including Pimpri-Chinchwad, has reported a strong surge in registered home sales value for the July-September quarter of 2024, according to the latest report from Square Yards. Based on IGR data analysed by Square Yards, the city’s home sales value saw a 19% year-on-year (YoY) increase, reaching Rs. 13,865 crore.
In the September 2024 quarter, 18,806 residential transactions were registered across Pune. While there was a slight 1% YoY decline in the number of registered transactions during the period, the total registered home sales value grew by 19%. This trend pushed the average registered sales value to a record-high of Rs. 74 lakh—20% higher than the same period last year.
| Pune Residential Real Estate Summary – July-September 2024 | |||||
| Jul-Sep 2024 | Apr-Jun 2024 | Jul-Sep 2023 | Q-o-Q | Y-o-Y | |
| Registered Residential Transactions (No. of units) | 18,806 | 20,190 | 18,907 | -7% | -1% |
| Registered Home Sales Value (GTV) (Rs. crore) | 13,865 | 13,995 | 11,626 | -1% | 19% |
| Average Registered Sales Value (Rs. crore) | 0.74 | 0.69 | 0.61 | 6% | 20% |
*Pune includes area under Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation only. Analysis includes both primary and secondary residential registered transactions.
Sachin Vyas, Principal Partner & 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% year-on-year to an all-time high of Rs. 74 lakh in the September 2024 quarter, and the western suburbs even surpassing the Rs. 1 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. 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.”
Market Leaders and Key Projects
Kolte Patil Developers secured the top position in both total registered transactions and sales value in Pune’s residential market for the July-September 2024 quarter. Their flagship project, Life Republic in Hinjewadi, led the rankings for the highest number of registered transactions and placed third in terms of sales value. Pristine Properties followed closely, with strong contributions to the transaction volume from their O2 World project in Kharadi. Mahindra Lifespaces entered the list of top-10 developers in Pune as compared to September 2023 quarter, with their Codename Crown project performing impressively in not only in transaction volume, but also sales value.
| Top Developers by Registered Home Sales Value Pune July-September 2024 | |||
| Rank | Developers | Registered Home Sales Value (Rs. crore) | Top Projects by Registered Home Sales Value |
| 1 | Kolte Patil Developers | 425 | Kolte Patil Life Republic |
| 2 | Mahindra Lifespaces | 312 | Mahindra Codename Crown |
| 3 | Pristine Properties | 305 | Pristine O2 World |
| 4 | Lodha Group | 217 | Lodha Giardino |
| 5 | VTP Realty | 202 | VTP Dolce Vita |
| 6 | Nyati Group | 162 | Nyati Equinox |
| 7 | Pride Construction And Developers | 161 | Pride World City |
| 8 | Vilas Javdekar Developers | 160 | VJ Palladio Balewadi Central |
| 9 | Kumar Properties | 158 | Kumar Parth Towers |
| 10 | Shapoorji Pallonji Group | 135 | Joyville Hadapsar Annexe |
*Pune includes area under Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation only. Analysis includes primary residential registered transactions only.
| Top Developers by No. of Registered Residential Transactions Pune July-September 2024 | |||
| Rank | Developers | Registered Residential Transactions (No. of units) | Top Projects by No. of Registered Residential Transactions |
| 1 | Kolte Patil Developers | 430 | Kolte Patil Life Republic |
| 2 | Pristine Properties | 314 | Pristine O2 World |
| 3 | Mahindra Lifespaces | 304 | Mahindra Codename Crown |
| 4 | VTP Realty | 224 | VTP Dolce Vita |
| 5 | Kumar Properties | 206 | Kumar Primeview |
| 6 | Pride Construction and Developers | 196 | Pride World City |
| 7 | Shapoorji Pallonji Group | 173 | Joyville Hadapsar Annexe |
| 8 | Vision Creative Group | 157 | Vision Altia |
| 9 | Lodha Group | 155 | Lodha Giardino |
| 10 | Nyati Group | 143 | Nyati Equinox |
*Pune includes area under Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation only. Analysis includes primary residential registered transactions only.
Area-wise and Budget-wise Trends
In the September 2024 quarter, the share of properties priced above Rs. 1 crore increased to 18%, up from 13% in the same period last year, with homes in the Rs. 1–2 crore range accounting for the largest share at 15%. This rise came at the expense of the lower-to-mid price segments. The share of homes priced below Rs. 50 lakh and between Rs. 50 lakh–1 crore dropped from 87% to 82% compared to the same period last year.
The rise in premium segment coincides with a noticeable shift towards properties with larger areas and configurations. Properties sized between 1,000–1,500 sq.ft. now account for 11% of transactions, up from 8%, reflecting a growing preference for spacious apartments. However, it is to be noted that units in the 500–1,000 sq.ft. range continue to dominate the market, representing 62% of all registered transactions.
| Pune – Area-wise Residential Transactions Jul-Sep 2024 vs Jul-Sep 2023 | Pune – Budget-wise Residential Transactions Jul-Sep 2024 vs Jul-Sep 2023 | |||||
| Area (in sq.ft.) | Jul-Sep 2024 | Jul-Sep 2023 | Budget | Jul-Sep 2024 | Jul-Sep 2023 | |
| Below 500 sq.ft. | 23% | 26% | Below INR 50 lakh | 46% | 48% | |
| 500–1000 sq.ft. | 62% | 62% | INR 50 lakh–1 crore | 36% | 39% | |
| 1000–1500 sq.ft. | 11% | 8% | INR 1–2 crore | 15% | 11% | |
| 1500–3000 sq.ft. | 3% | 3% | INR 2–3 crore | 2% | 1.3% | |
| Above 3000 sq.ft. | 1% | 1% | Above INR 3 crore | 1% | 0.7% | |
*Pune includes area under Pune Municipal Corporation and Pimpri-Chinchwad Municipal Corporation only. Analysis includes both primary and secondary residential registered transactions.
Micro Market Performance
Pimpri Chinchwad remained Pune’s most active residential market in the September 2024 quarter, capturing a 46% share of overall residential transactions and 34% of total sales value. Western and eastern suburbs followed closely, collectively accounting for 38% of registered transaction volume. Together, these three micro-markets contributed to 84% of Pune’s overall registered home sales value during the quarter.
Pune’s western suburbs recorded the highest average transaction value at Rs. 1.07 crore, surpassing the central suburbs. This was largely driven by premium projects from prominent developers, appealing to end-users due to the area’s proximity to the Mumbai-Pune Expressway and the IT hub of Hinjewadi. Meanwhile, Pimpri Chinchwad remained an affordable alternative with an average transaction value of Rs. 55 lakh, bolstered by strong connectivity via NH-48, further adding to its popularity as a residential choice.
| Pune Micromarket Summary – July-September 2024 | |||
| Micromarket | Registered Residential Transactions (No. of units) | Registered Home Value (Rs. crore) | Average Registered Home Sales Value (Rs. crore) |
| Pune | 18,806 | 13,865 | 0.74 |
| Pimpri Chinchwad | 8,577 | 4,738 | 0.55 |
| Pune West | 3,708 | 3,971 | 1.07 |
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