Press Release

Property Prices in Pune witness 7 per centgrowth in Oct - Dec2014 over Jul-Sep 2014: 99acres Insite Report

February 16 2015

Major Highlights:

  • Upcoming infrastructure projects such as metro and international airport have been the major growth catalysts for the realty market of Pune
  • Pashan in the westwitnessed maximum capital appreciation of 18 per centin the Oct-Dec 2014 quarter
  • Rising market sentiments led to 13 per cent quarterly spurt in property prices of Model Colony in Central Pune
  • Society apartments continued to dominate the property supply in Pune

Pune, 16 February, 2015: 99acres.com Insite is a quarterly report focusing on capital and rental price trends in the residential real estate market across seven major cities of India. According to the report, property prices in Pune witnessed agrowth of two per cent in Oct-Dec 2014 as compared to Jul-Sep 2014. The annual comparison (Oct-Dec 2014 with Oct-Dec 2013) reflects a 10 per cent rise in property prices. The rental valuestoo witnessed a hike of 11 per cent in the last one quarter. Mid-sized housing units configured as 2BHK were the most supplied in the city. The total number of properties available for sale in the city went up by18 per cent in the current quarter.
Commenting on the report, Mr NarasimhaJayakumar, Chief Business Officer, 99acres.com,said, &ldquoWith suburban and peri-urban pockets developing as new investment zones, Pune realty market is on a growth track. Localities around major IT hubs in the city are witnessing maximum capital appreciation. Industrial city Pimprichinchwad is growing quarter on quarter and offering good appreciation on investment.&rdquo
Price Analysis of Pune (Oct-Dec 2014vs.Jul-Sep 2014):
Residential Apartments:

  • Pashan recorded a maximum price rise of 18 per cent quarter-on-quarter. Other localities which recorded a considerable hike included Model Colony (13 per cent), Pimpri (12 per cent) andTingre Nagar (12 per cent).
  • Dighi, a newly emerging residential pocket, also recorded a growth of 11 per cent in this quarter due to a huge demand for affordable properties
  • Undri in South Pune recorded a nine per cent price hike in the current quarter. It witnessed robust real estate activity owing to availability of large land parcels and well-built social infrastructure.
  • Warje andKoregaon Park too recorded healthy growth of eight per centeachquarterly and 13 per cent each annually.
  • Localities like Handewadi, Erandwane, SenapatiBapat Road, Chikhali and Wadgaon Sheridid not perform well on the ROI scale in this quarter.

Rental Analysis:

  • Rental values in Hinjewadi appreciated by almost 30 per cent in the last one quarter owing to the huge demand for rented accommodation from migrants working in the city.Pimple Saudagar saw rental values rising by 29 per cent (from Rs 14 to Rs 18 per sqft) between Jul-Sep 2014 and Oct- Dec 2014
  • Localities like BanerPashan Link Roadand Wakad witnessed a growth of 25 per cent and 21 per cent, respectively

Summary below for Supply Analysis:

  • Availability of Different Types of Property- Society apartmentsconstitutedalmost 95 per cent of the total marketshare. New project launches led to a 50 per cent increase insupply of residential apartments in the last one year.
  • Availability of Property in Different Budgets- Affordable housing category (within Rs 40 lakh) made up more than half of the total market share, followed by the high income housing segment (Rs 60 lakh-1 crore). The luxury and mid-income housing categories made up 13 per cent and 12 per centshares, respectively.
  • Ready to Move vs. Under-construction- New project launchesled to an increase in share of under-construction properties in the affordable bracket (within Rs 40 lakh)and mid income housing bracket (Rs 40-60 lakh)by 15 per cent each in the last six months.
  • BHK-wise Distribution of Property- Mid-sized2BHK units continued to be the most supplied in Pune and made upalmost 50 per centof the total market share. Supply of 3BHK and 1BHK units remained almost equal in the city.

About 99acres.com:
Launched by Info Edge, in September 2005, 99acres.com is a gateway to the one of the fastest growing property markets of the world, an information 'exchange' for buying, renting and selling of all types of residential and commercial properties anywhere in India. The website enables easy access to a huge property bank and allows direct connect with brokers/builders in cities as well as remote parts of the country. With over 6 million visitors visiting the website every month looking for real estate solutions, 99acres.com regularly enjoys the highest traffic share, time spent on site and maximum page views, making it the most popular real estate portal in the country. Backed by a strong team and a network across 17 cities in India, 99acres.com has garnered faith and support of the real estate community in India within a very short time span.

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