Pune real estate market

Pune

Sales

Affordable housing ruled the market. Overall, properties up to 70 lakh did well in the quarter. Areas such as Baner, Wakad and Ravet, received higher demand and traction vis-à-vis other parts of the city owing to their proximity Hinjewadi IT Park.

New launches

New launches in Pune were major refrained to West Pune owing to demand in lower ticket size homes.

Balewadi, Wakad, Punawale in the west and Kharadi in the east saw some new supply in the quarter.

Unsold inventory

It is majorly piled up in the areas such as Undri and Pisoli in the southern part of the city. Connectivity and absence of new housing stock remains a major challenge in the region.

Ready homes were more in demand but Under-construction projects witnessed higher traction due limited supply of the latter.

Commercial segment

· Leasing in Grade A offices slowed down. Against the increased demand for small-sized offices between 500 sq ft and 2,000 sq ft, workplaces with large floor plates ruled the market supply.

· Baner and Balewadi accounted for nearly 60 percent of the office space deals in Jan-Mar 2019-20, followed by Kharadi at 40 percent.

· Pre-leasing by corporates and co-working operators remained a popular trend in Pune. For instance, Smart Works pre-leased 5,000 sq ft of co-working space in a project by Malpani Builders in Baner