Monthly Watch: New Launches, Homes Sales Increase In Pune

Real estate in Maharashtra's cultural capital Pune made a fresh start in the new year by registering an uptick in new launches and home sales. According to a PropTiger DataLabs report, new launches in the city increased 166 per cent in January month-on-month. Home sales, too, increased 53 per cent during the same period.

On an annual basis, however, new launches declined 28 per cent while home sales figures fell 39 per cent. Property, prices, too, witnessed a decline of three per cent in January when compared to the same month last year.

The performers

Localities that contributed the highest to the monthly homes sales in Pune include Wagholi, Undri, Wakad, Moshi and Chikhali, in that order. These localities offer housing options in mid and premium segments. For instance, average property price at Wakad, according to PropTiger DataLabs, is Rs 5,700-6,400 per sqft while property in Moshi is priced at Rs 3,850-4,800 per sqft. Property can be bought for Rs 3,700-5,700 at Chikhali, for Rs 4,450-4,550 at Wagholi and for Rs 4,400-4,550 at Undri.

Ready to roll

According to the report, a majority of the new launches were meant for the middle class.

Developers who announced new projects in Pune in January include Bhandari Properties, Noble Promoters and Builders, Ravindra Builders, Vednirmitee Reality and Yogesh Enterprises. At Bhandari Properties' new project Unnati, 192 units will be up for grabs at Hinjewadi for at an average price of Rs 3,499 per sqft. At Chikhali, Noble Promoters and Builders has announced the launch of its new project Noble Vishu Vihar, where 198 units will be sold at an average price of Rs 3,777 per sqft. Vednirmitee Reality has also launched its project, Ashritha, in the same locality where 196 units are priced at Rs 3,350 per sqft. Trinity is the new offering by Ravindra Builders at Wagholi. The developers will sell 192 units at an average price of Rs 3,600 per sqft. Yogesh Enterprises has launched Gandharv Nagri-2 at Moshi where 300 units are up for sale for Rs 3,475 per sqft.