The Growing Demand for 1 BHK Flats in Pune
Pune is one of the most consistent real estate market in the country. In the last six months, the market remained stable with a marginal increase of 1% in the city index value and 2% in the listed price monitor.
Key Highlight’s of Pune Property Market:
Pune recorded over 10% increase in the active stock available for sale.
Supply trend showed maximum number of properties for sale within the average price of Rs. 5000 – 7000 per sq. ft. at 49%.
High end properties in Pune valued at Rs. 10,000 per sq. ft. and above were 11% of the supply.
Rental returns were lower except in Koregaon Park which offered 2.74% annual yield in the current quarter.
Buyers looking for the properties in the affordable range at an average price of Rs. 4000 per sq. ft. and below can look in Chakan, Alandi, Talegaon Dabhade, Dighi and Chikhali areas that are in a range of 30 to 50 kms from Pune city center.
Maximum demand was noted for the properties in the budget range of Rs.50 Lakhs to 75 Lakhs with the western growth corridor showing maximum demand and supply.
Premium properties above Rs.75 Lakhs continued to be over supplied in the city, with maximum demand and supply.
Units of 1 BHK and 2 BHK continued to be the most preferred size in the current quarter, while demand across the category remained largely stable in the last six months
Growing demand for smaller units of 1 BHK was witnessed in the past few quarters with the North and South regions recording the maximum rise if 4%-6% in demand in the last three months.
Shirwal, Chakan, Uruli Kanchan and Saswad Road recorded the highest supply of properties priced upto Rs.20 Lakh.
Mid-segment properties priced between Rs.20-60 Lakhs were most common in Wagholi and Hadapsar.
Baner, Magarpatta and Kalyani Nagar continued to witness the highest supply of premium properties priced at over Rs.1 Crore.