Pune residential real estate review: 2012
In 2012, property prices in Pune city have gone up by an average of 12 percent and in 2013, an average appreciation of 12-15 percent is expected across the city.
Areas like Undri, Kondhwa and Hinjewadi has contributed 40 percent of the total sales in 2012. New launches were less in 2012 compared to the previous year.
The supply increased in the mid-budget segment (Rs. 50 lakh to Rs. 1 crore) and the luxury segment (Rs. 1 crore and above) across the city and same will continue in 2013. This year has seen an increase in supply of units in the super luxury segment (Rs. 4 crore and above), predominantly in the Eastern corridor like Vimannagar, Koregoan Park, Kalyaninagar, Boat Club road.
The rapid growth of local entrepreneurs is also pushing the growth of the super luxury segment. Developers are also providing lot of value addition in projects that have international tie-ups. Such tie-ups have increased the emphasis to improve technical parameters and on detail in the projects.
According to Sanjay Bajaj, Managing Director – Pune, Jones Lang LaSalle India, Pune real estate is expected to see stronger demand from IT/ITeS and manufacturing sector employees, NRI clients and Mumbai based investors who are planning to invest in stable market, in 2013.
The supply for residential units was healthy toward the end of 2012, with units in all the budget categories available in and around the city.
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