Real estate prices in Baner soars by 57%
Baner area in Pune has seen the highest year-on-year price hike of 57 percent in the luxury segment of the real estate market in India, according to a report by Cushman and Wakefield.
There was an average of 10 percent year-on-year price increase in mid-segment properties in India. Prices of the high end property segment has witnessed 12 percent hike.
Among the top Indian cities, residential real estate in Pune has been one of the high performers as it has seen healthier appreciation in capital values in all the real estate segments and in most of the micro markets.
Baner has beaten central Bangalore in the high-end-segment as the latter witnessed 44 percent price appreciation and Gurgoan has seen 35 percent rise.
| Baner, close to Hinjewadi IT Park, has now become the favourite for IT professionals, which is the reason why it is getting the highest appreciation for high-end properties. Baner is well connected via Ganeshkhind Road. The people in Mumbai also prefer Baner for residential purposes as it also stays close to the highway. |
Gurgaon witnessed the maximum appreciation of 31 per cent, in terms of mid-end segment of real estate sector. Aundh area in Pune has seen 30 percent appreciation. The National Capital Region (NCR) has seen the highest growth in the country at the rate of 22 percent and Pune manages to take the second position in terms of average growth in price of real estate in the high-end segment with 20 percent.
Commonfloor’s take: Renowned builders like Pride Purple Group, Sumangal Dwelling & Projects and Kumar Properties Pvt Ltd are launching several new projects and some of them are Kumar Peninsula, Camellia Apartment and Supreme Estado in the prices range of 65 lakh to 2.40 crore in Baner. Vascon Engineers Pvt Ltd and Kumar Urban Development Limited are also coming up with new projects in this area.
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