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%