Pune notes more housing sales in first half of 2021 against last year
08 Jul 2021
2 Min Read
CW Team
A report by real estate consultants JLL has announced that the city recorded more sales in the first half of 2021 than the corresponding period last year, with the north-eastern and north-western suburbs driving the trend.
The report said that the tech-heavy, emerging, and developed suburbs controlled sales in the Pune region, with around three out of four homes (74%) sold in the first half of 2021 being in places like Vimannagar, Kharadi, Wagholi, Wakad, Hinjewadi and Aundh.
It said that sales in the Pune area increased by 59% from January to June this year over the corresponding time in 2020. It shows that the second wave of the pandemic and the ensuing restrictions had a lighter impact on real estate sales than the total lockdown during the first wave of the Covid-19 pandemic. About 7,284 units were sold in Pune during the reported period, compared to 4,579 units in the corresponding period of 2020.
Samantak Das, Chief Economist & Head of research, JLL, told the media that there was no denying the fact that the second Covid-19 wave adversely impacted the market following a good recovery curve. The impact was reduced when compared to the same time last year. Most of the changes witnessed in the sector have been structural, and demand for houses is anticipated to surge.
A Pune based real estate player told the media that sales were going phenomenally well in the first three months of 2021 because of the stamp duty reductions. It rose by 1% from the end of December 2020.
Both entry-level and other homebuyers took advantage of the stamp duty reductions. But the expiry of the relief, the second wave of the pandemic and the start of monsoons stalled the market.
Also read: Property registrations in Indore recorded a 60% jump in June
Also read: Premium home launches at 36% in Q2 2021, affordable housing share dips to 20%
A report by real estate consultants JLL has announced that the city recorded more sales in the first half of 2021 than the corresponding period last year, with the north-eastern and north-western suburbs driving the trend.
The report said that the tech-heavy, emerging, and developed suburbs controlled sales in the Pune region, with around three out of four homes (74%) sold in the first half of 2021 being in places like Vimannagar, Kharadi, Wagholi, Wakad, Hinjewadi and Aundh.
It said that sales in the Pune area increased by 59% from January to June this year over the corresponding time in 2020. It shows that the second wave of the pandemic and the ensuing restrictions had a lighter impact on real estate sales than the total lockdown during the first wave of the Covid-19 pandemic. About 7,284 units were sold in Pune during the reported period, compared to 4,579 units in the corresponding period of 2020.
Samantak Das, Chief Economist & Head of research, JLL, told the media that there was no denying the fact that the second Covid-19 wave adversely impacted the market following a good recovery curve. The impact was reduced when compared to the same time last year. Most of the changes witnessed in the sector have been structural, and demand for houses is anticipated to surge.
A Pune based real estate player told the media that sales were going phenomenally well in the first three months of 2021 because of the stamp duty reductions. It rose by 1% from the end of December 2020.
Both entry-level and other homebuyers took advantage of the stamp duty reductions. But the expiry of the relief, the second wave of the pandemic and the start of monsoons stalled the market.
Image Source
Also read: Property registrations in Indore recorded a 60% jump in June
Also read: Premium home launches at 36% in Q2 2021, affordable housing share dips to 20%
Next Story
unWOOD transforms plastic waste into durable wood alternative
unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..
Next Story
India's first AI-integrated campus announced in Noida
Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..
Next Story
Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory
The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India鈥檚 most significant scientific institutions and highlights the nation鈥檚 long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..
