Pune’s residential market is booming! The latest report by Knight Frank India shows that in the first half of 2024, we saw a 13% increase in home sales compared to last year, with 24,525 units sold. This is the highest number since 2013. The average price of homes also went up by 4% to INR 4,580 per square foot.
This growth is great news for Pune. It’s driven by the booming IT sector, ongoing infrastructure projects, and competitive home prices compared to other big cities. In the first half of 2024, 28,047 new homes were launched, showing a 32% increase from last year. This means developers are confident in Pune’s real estate market.
Looking at the types of homes sold, 46% were in the INR 5-10 million range, while the share of homes below INR 5 million dropped from 42% to 34%. More people are buying homes above INR 10 million, with sales in this category rising from 12% to 20%.
Pune had the third highest growth in luxury housing among India’s top eight cities, with a 97% increase in sales of homes over INR 10 million. Homes priced below INR 5 million saw a small drop, while those between INR 5-10 million grew by 11%.
The Quarters to Sell (QTS) metric, which shows how quickly homes are sold, improved from 4.3 quarters in the first half of 2023 to 3.6 quarters in the first half of 2024. This means homes are selling faster, showing strong demand.
Vilas P Menon from Knight Frank India said, “Pune’s real estate market grew a lot in the first half of 2024. This growth is because of the IT sector, infrastructure development, and good pricing. New projects show that developers are confident. People want bigger homes with workspaces and amenities like green spaces and gated communities.”
At Dream Works Realtors, we’re proud to be part of this growth with our projects, Dream Delmont and Dream Elegance. These projects offer luxury, convenience, and great
locations.
Dream Delmont is an expansive and luxurious residential enclave located in the picturesque surroundings of Bavdhan, Pune. Spanning over 4 acres, Dream Delmont features 5 stunning towers, offering a mix of spacious 2 BHK and luxurious 3 BHK homes. The project boasts an impressive array of amenities, including a rooftop infinity pool, a star-gazing deck, and serene meditation courts, making it a haven for those seeking tranquility and opulence. With its strategic location just minutes away from Chandani Chowk and seamless connectivity to major city hubs, Dream Delmont provides an unparalleled living experience that harmonizes the comforts of modern living with the beauty of nature.
We invite you to explore these luxury flats in Bavdhan and Balewadi. The fast booking of units at Dream Delmont and Dream Elegance shows the trust our clients have in us.
Join us and be part of Pune’s best residential communities. Thank you for your support and trust in Dream Works Realtors.
—
Narendra Balwadkar
Director, Dream Works Realtors
#DreamWorksRealtors #LuxuryLiving #PuneRealEstate #DreamDelmont
#DreamElegance #Balewadi #Bavdhan #RealEstateGrowth #LuxuryHomes
