Pune’s residential actual property business has registered a progress of 38 per cent in 2021 on a year-on-year (YoY) foundation. Property marketing consultant Knight Frank’s semi-annual report on Wednesday afternoon confirmed that the sector noticed gross sales of 37,218 items final 12 months, whereas a complete of three.8 million sq. toes of workplace area was transacted.
The new launches noticed a rise of 16 per cent over final 12 months’s 40,489 items, the report stated. 19,744 items have been finalized within the second half of the earlier 12 months, whereas 70 per cent of the workplace area transactions have been finished within the second half.
The report highlights that Pune noticed 2.7 million sq ft (mn sqft) of workplace area transactions within the second half (H2) of 2021, with the best YoY progress through the interval among the many high eight cities. A complete of three.8 million sq ft of workplace area was transacted in 2021, of which 70 p.c have been transacted in H2 2021. Average deal dimension in H2 2021 elevated by 11 per cent YoY to 58,685 sqft as in comparison with H2 2020.
On the rental facet, the town witnessed a marginal lease enhance of three per cent quarter-on-quarter (QoQ) throughout This fall 2021. The BFSI sector emerged as the primary driver for the Pune workplace market with a transaction share of 35 per cent. , adopted by manufacturing and co-working with a transaction share of 19 p.c and 18 p.c respectively in H2 2021.
In the residential phase, Pune noticed the sale of 19,744 housing items in H2 2021. CY 2021 noticed a complete of 37,218 residence gross sales, making Pune the third largest residential market within the nation. The common worth stage was acknowledged to be INR 4,000 per sq ft.
South and East markets additionally grew the gross sales quantity through the second half of 2021, contributing 38 per cent and 24 per cent respectively to the overall gross sales. The Western market shrank to 22 p.c within the second half of 2021, though it was in a stronger place with a market share of 35 p.c within the second half of 2020. The worth stage remained unchanged within the second half of 2021.
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With inputs from TheIndianEXPRESS
