Pune’s actual property market sees 50% surge in transactions in June quarter: Sq. Yards Report

Pune’s actual property market has skilled a exceptional surge, with registered transactions rising by 50 per cent within the June quarter, based on the newest report by Sq. Yards. The report highlights a considerable rise within the variety of transactions registered with the Inspector Basic of Registration (IGR), reaching 39,961 between April and June 2024, up from 26,629 throughout the identical interval final yr.

Of the entire transactions in Pune, 20,190 have been residential, contributing to a registered gross sales worth of ₹13,995 crore, marking a 3 per cent annual enhance. The common registered house gross sales worth hit an all-time excessive of Rs. 69 lakh within the second quarter of 2024, reflecting a strong 17 per cent year-over-year progress. This shift underscores a robust desire amongst homebuyers for high-end and premium properties, driving the common gross sales worth to new heights.

The share of residential transactions for properties priced between Rs. 50 lakh and one crore rose to 39 per cent within the June quarter, up from 36 per cent in the identical interval the earlier yr. Moreover, transactions for properties priced between ₹1 crore and two crore almost doubled, rising to 14 per cent from 9 per cent year-on-year. Properties throughout the 500 to 1,000 sq. toes vary proceed to dominate the market, representing 62 per cent of all transactions, with 1 BHK and a couple of BHK configurations remaining probably the most most popular selections amongst homebuyers.

“Pune continues to face out as one in all India’s top-performing cities, second solely to Mumbai MMR,” says Suhas Paithankar, Affiliate Principal Companion, Sq. Yards. “The June quarter’s information highlights a wholesome 17 per cent annual enhance within the common registered gross sales worth, reaching an all-time excessive of ₹69 lakh. This underscores a strong demand for premium houses, fuelled by rising employment alternatives, elevated disposable incomes, and a shift in the direction of aspirational way of life” he added.