What is the future of real estate in Pune?
A recent report by CBRE stated that there was over 75 percent growth in housing sales across the top seven cities in India in H1 2021, with Pune being at the forefront with an approximate 26 percent share in sales. This showcases the potential of the city’s residential market.
Will property prices fall in Pune in 2022?
Still, 40,000 remains a realistic housing sales estimate for the Pune market. Value-wise, housing sales are likely to surpass the 2017-2021 expected annual average of around Rs 15,000 crore to cross the coveted Rs 20,000 crore mark across 2022.
How is Pune real estate market?
In the residential segment, Pune witnessed sales of 19,744 housing units in H2 2021. The total number of home sales in CY 2021 was seen at 37,218, making Pune the third largest residential market in the country. The average price level was reported to be INR 4,000 per sq ft.
Is it good time to buy flat in Pune?
The answer is yes. &ldquoIt is certainly the best time to invest in residential property at the right place and right price. Pune is one of the best cities to buy property as it provides homes with fully developed infrastructure at an affordable price.
Is it worth investing in Pune real estate?
Even with Mumbai, India’s highest growing residential market, nearby, Pune has a steady demand for real estate. It is probably because the city has properties that offer value for money, unlike Mumbai, where space is at a premium and prices are sky-rocketing.
Which area is best to buy flat in Pune?
Top 10 Areas For Buying a 1/2/3 BHK Apartment in Pune
- Baner. Baner has seen the most of the real estate growth in Pune.
- Lohegaon-Wagholi Road. The road that connects the developing areas Lohegaon and Wagholi is no less a hot spot for buying a flat.
- Viman Nagar.
- Sinhgad.
- Bavdhan.
- Undri.
- Kharadi.
- Hinjewadi.
What is future of real estate market in India?
By 2040, real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021 and contribute 13% to the country’s GDP by 2025.
Is Pune real estate overpriced?
The average cost of a square foot of housing space, according to the report, stood at around Rs 5,510 in Pune, in2020. Mumbai remained the most expensive and the largest real estate market across the country, with its average square foot cost nearly double that of Pune at Rs10,610 till the end of 2020.
Is real estate a good investment in Pune?
One of the main reasons is because Pune has properties that offer value for money unlike Mumbai where the prices are relatively high for a premium space. In recent years, Pune has become a favourable real estate investment destination for Pune based home owners as well as non-Pune residents.
Is 2022 a good time to buy a house in India?
A recent report by real estate services company Knight Frank reported that in India, the residential segment could see up to 5 per cent rise in values in 2022. The momentum from 2021 is expected to continue this year as prospective buyers look for bigger homes, better amenities and attractive pricing.