In a testament to Pune’s thriving real estate sector, the residential market witnessed a substantial surge in demand, recording transactions totaling Rs 11,408 crores in the fourth quarter of 2023. The data, sourced from Square Yards Data Intelligence based on property registrations by the Inspector General of Registration (IGR), Maharashtra, reflects a robust growth trajectory in the city’s real estate landscape.
The Vikas Javdekar Group emerged as the leader in terms of both volume and units registered during this quarter, securing 734 units amounting to Rs 600 crores. Kolte Patil Developers closely followed with 499 registrations totaling Rs 370 crores in the October-December quarter.
Top Developer in Pune by No of Transactions -Q4’2023
| Rank | Developer | No. of Transactions |
|---|---|---|
| 1 | Vilas Javdekar Developers | 734 |
| 2 | Kolte Patil Developers | 499 |
| 3 | Nyati Group | 293 |
| 4 | VTP Realty | 292 |
| 5 | Godrej Properties | 292 |
| 6 | Unique Group | 291 |
| 7 | Kumar Properties | 216 |
| 8 | Saheel Properties | 175 |
| 9 | Pride Construction And Developers | 166 |
| 10 | Lodha Group | 140 |
Top Developers in Pune by Sale Value -Q4’2023
| Rank | Developer | Sale Value in Cr. |
|---|---|---|
| 1 | Vilas Javdekar Developers | 600.2 |
| 2 | Kolte Patil Developers | 370.8 |
| 3 | VTP Realty | 306.8 |
| 4 | Nyati Group | 204.7 |
| 5 | Kumar Properties | 196.9 |
| 6 | Unique Group | 196.2 |
| 7 | Godrej Properties | 195.0 |
| 8 | Lodha Group | 149.0 |
| 9 | Saheel Properties | 139.8 |
| 10 | Pride Construction And Developers | 120.8 |
VTP Realty and Nyati Group also rode on the robust market sentiment to achieve impressive transaction and volume figures in the October-December quarter. Godrej and Kumar Group too cashed in on the growing interest of buyers and investors and maintained their selling momentum.
“Pune has been one of the top-selling housing markets in 2023. The city’s thriving IT hub, strategic location, robust infrastructure development, and appealing price points compared to Mumbai, have struck the right balance between lifestyle and investment value. Pune offers more square footage, spacious residential choices and a greener footprint. Besides, property values have seen a consistent uptick over the years, solidifying Pune as a favourable destination for investors,” said Suhas Dattatraya Paithankar, Associate Principal Partner, Square Yards Pune.
Kolte Patil Developers led in the project category in terms of units registered with Kolte Patil Life Republic recording 426 transactions. VTP Realty followed in terms of sale value with VTP Flamante accumulating Rs 259 crores.
Top Projects in Pune by No.of Transaction -Q4’2023
| Rank | Project Name | No. of Transactions | Sale Value in Cr. |
|---|---|---|---|
| 1 | Kolte Patil Life Republic | 426 | 265.2 |
| 2 | Yashwin Urbo Centro | 275 | 251.5 |
| 3 | Yashone Eternity | 250 | 168.1 |
| 4 | VTP Flamante | 216 | 259.1 |
| 5 | Saheel Itrend Futura | 201 | 161.5 |
| 6 | Apak Ajinkya Towers | 150 | 27.9 |
| 7 | Sampada Little Earth Masulkar City | 115 | 59.7 |
| 8 | Pride World City | 112 | 81.0 |
| 9 | VJ YashOne Infinitee | 107 | 71.1 |
| 10 | Mangalam Melizma | 107 | 59.4 |
Top Projects in Pune by Sale Value -Q4’2023
| Rank | Project Name | Sale Value in Cr. | No. of Transactions |
|---|---|---|---|
| 1 | Kolte Patil Life Republic | 265.2 | 426 |
| 2 | VTP Flamante | 259.1 | 216 |
| 3 | Yashwin Urbo Centro | 251.5 | 275 |
| 4 | Yashone Eternity | 168.1 | 250 |
| 5 | Saheel Itrend Futura | 161.5 | 201 |
| 6 | Paranjape Blue Ridge | 102.2 | 99 |
| 7 | Image Golfland | 97.3 | 56 |
| 8 | Pride World City | 81.0 | 112 |
| 9 | Swadik ANP Ultimus | 80.5 | 76 |
| 10 | Lodha Giardino | 75.7 | 70 |
Pune’s real estate market has been showing signs of robust growth despite rising property prices. Pimpri Chinchwad stood up as the premier micro-market for residential transactions and sale value, recording 8728 units registered, amounting to ~Rs 4786 crores. The presence of MNCs and industries and strategic location near to tech and IT parks and close proximity to Hinjewadi has make the city an ideal location for young professionals. Places like Ravet, Hinjewadi, Wakad, Tathawade are some top locations in Pimpri Chinchwad that have witnessed highest transactions in Q4, 2023.
Pune Micromarkets Summary – Q4’2023
| Micromarket | Sale value in Cr. | No. of Transactions |
|---|---|---|
| Pimpri Chinchwad | 4785.7 | 8728 |
| Pune Central | 425.3 | 514 |
| Pune East | 1995.3 | 2835 |
| Pune South | 1135.2 | 2010 |
| Pune West | 3066.7 | 4011 |
On a similar note, West Pune also displayed healthy growth with 4011 registered units, totaling ~3067 crores. While East and Central Pune have traditionally been favoured by high-end homebuyers, the demand has now shifted towards the west. The region’s affordability compared to the rest of Pune, flawless connectivity owing to Mumbai-Pune Expressway and proximity to commercial hubs in the vicinity have spurred rapid real estate growth. South Pune is also emerging as a promising market for those unable to access Central Pune owing to the development of the New Pune International Airport and improved connectivity through the Pune Mumbai bypass road. Neighbourhoods like Wagoli have emerged as top location witnessing sale value of Rs 594 crores in this quarter.
In terms of ticket size, residential units in the Rs 50 lakhs range dominated transactions comprising 44% of the market, underscoring the fact that homebuyers are finding significant value per square foot within this range. Properties valued at Rs 50 lakhs-1crore followed next with 42% of the share, indicating homebuyers’ penchant for premium properties with state-of-the-art amenities. Punekars preference for spacious units is also noticed in this quarter with 500-1000 sqft properties clocking 66% of the overall demand.
Pune is the most vibrant market at present with retail, residential and commercial sectors flourishing at a rapid clip, aided by its well-developed infrastructure, presence of educational hubs and ample employment potential. The outlook of the market remains optimistic with ongoing infrastructural improvements and strong demand likely to sustain the buoyancy of the market in the coming months.
