+
Pune notes more housing sales in first half of 2021 against last year
Real Estate

Pune notes more housing sales in first half of 2021 against last year

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%

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
Infrastructure Urban

Sona Comstar Enters China EV Market with Strategic JV

Sona BLW Precision Forgings (Sona Comstar), a leading global provider of mobility technology solutions, has signed a binding term sheet with Jinnaite Machinery Co, (JNT) to form a joint venture (JV) in China. The JV will manufacture and supply driveline systems and components to automotive OEMs in China and global markets.Under the agreement, Sona Comstar will invest $12 million, while JNT will contribute $8 million worth of assets and business in the first phase. The JV is slated to begin operations in the second half of the current financial year.This marks a significant step in Sona Comstar..

Next Story
Infrastructure Energy

Patel Engineering Wins Rs 2.39 Bn Hydro Project from NHPC

Patel Engineering (PEL) has secured a contract worth Rs 2.39 billion (inclusive of taxes) from NHPC for civil and hydro-mechanical works under Package 6 of the Teesta-V Power Station in Sikkim.The scope involves modification of the diversion tunnel into a tunnel spillway arrangement. Key works include the construction of the tunnel spillway, gate operation chamber and shaft, precast bridge, access road, energy dissipation structures, dyke, environmental flow tunnel, and other associated infrastructure.Located in the South District of Sikkim, the project is slated for completion within 18 month..

Next Story
Infrastructure Urban

Vikas Ecotech bags Rs 28 mn fire retardant order from Polycab

Vikas Ecotech has secured a repeat order from Polycab India for the supply of 400 metric tonne of Aluminium Trihydrate (ATH), a fire retardant material, valued at approximately Rs 28 million. The delivery is scheduled for execution within Q2 of FY 2025–26 and will be completed over a three-month period.This repeat order reflects Polycab’s continued trust in Vikas Ecotech’s product quality, technical reliability, and its commitment to delivering sustainable, safety-enhancing specialty materials for critical wire and cable applications.The demand for fire retardant materials such as ATH is..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?