Pune Records 11% Drop in Property Registrations in Nov
Real Estate

Pune Records 11% Drop in Property Registrations in Nov

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month.

Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s property market remains resilient, adjusting to shifting buyer preferences and market dynamics.

Rohit Gera, Managing Director of Pune-based Gera Developments, explained that the November registration drop was typically linked to sales from September. He noted that increased prices and the larger sizes of homes had led to a slight slowdown in sales, pushing home prices close to affordability limits. Gera added that fluctuations in festive dates could also have affected the figures, and it would take time to determine whether this was a temporary dip or part of a longer-term trend.

Garvit Tiwari, Director and co-founder of InfraMantra, emphasized that the decrease in property registrations doesn't signal a weak market. "The demand remains strong, and this drop may simply reflect a high base effect from last year," he said. Tiwari noted that last year had seen record-breaking sales in many Indian cities, bolstered by factors like infrastructure growth, affordability, and employment opportunities, all contributing to Pune’s thriving real estate market.

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month. Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s property market remains resilient, adjusting to shifting buyer preferences and market dynamics. Rohit Gera, Managing Director of Pune-based Gera Developments, explained that the November registration drop was typically linked to sales from September. He noted that increased prices and the larger sizes of homes had led to a slight slowdown in sales, pushing home prices close to affordability limits. Gera added that fluctuations in festive dates could also have affected the figures, and it would take time to determine whether this was a temporary dip or part of a longer-term trend. Garvit Tiwari, Director and co-founder of InfraMantra, emphasized that the decrease in property registrations doesn't signal a weak market. The demand remains strong, and this drop may simply reflect a high base effect from last year, he said. Tiwari noted that last year had seen record-breaking sales in many Indian cities, bolstered by factors like infrastructure growth, affordability, and employment opportunities, all contributing to Pune’s thriving real estate market.

Next Story
Equipment

Ammann India Inaugurates ABG Screed Assembly Station and ASRS

Ammann India, one of the leading concrete equipment players in India, has inaugurated its new ABG Screed Assembly Station and Automated Storage and Retrieval System (ASRS) at its advanced manufacturing facility. The event was graced by Hans-Christian Schneider, Group CEO of Ammann Group, alongside the leadership team led by Dheeraj Panda, Managing Director of Ammann India. The ABG Screed Assembly Station is set to enhance operational efficiency and ensure high-precision assembly, reinforcing Ammann’s commitment to delivering world-class paving solutions. This new station reflects the compa..

Next Story
Real Estate

How Rising Property Prices Are Shaping Real Estate Market

The global economy significantly influences real estate markets, with factors such as inflation, interest rates, and investment trends impacting property prices worldwide. Despite affordability concerns, demand remains robust, particularly in the mid-income and luxury segments. According to CREDAI reports, property prices in key metropolitan cities have increased by 10 to 11 per cent year-over-year. To address the strong demand for premium housing, developers are adopting innovative financing models and focusing on sustainable development. Foreign investments, regulatory reforms like RERA, an..

Next Story
Equipment

Caterpillar Powers Today and Drives Tomorrow at bauma 2025

Caterpillar Industrial Power Systems will showcase a range of optimised, fuel flexible engines, integrated advanced power technologies and services solutions at bauma Munich from April 7-13. The theme, “A journey to a lower-carbon future,” highlights Caterpillar’s ongoing commitment to sustainably powering a better world. The bauma Munich exhibit in Hall A4, stand 336, includes the award winning Cat® C13D and a new high power C3.6 delivering 106 kW (142 hp). The stand features the first showing of a series hybrid power expansion powertrain, part of a growing electrification ecosystem ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?