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
Infrastructure Energy

Oriana Power Signs MoU with Rajasthan in Clean Energy

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions. The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts. Rupal Gupta, M..

Next Story
Infrastructure Energy

PM Surya Ghar Scheme Set to Surpass 10 Years of Solar Growth

The PM Surya Ghar Muft Bijli Yojana has achieved a remarkable milestone, surpassing 6.85 lakh solar installations within a year and poised to exceed a decade's worth of solar growth. The scheme, launched in February 2024, has already achieved 86 percent of the solar installations made in the last ten years. The 3-5 kW segment accounted for the majority of installations, at 77 percent, while 14 percent of installations were in the 5kW+ category. Gujarat led the charge with 2,86,545 installations, followed by Maharashtra with 1,26,344, Uttar Pradesh with 53,423, and Kerala. The scheme, which now..

Next Story
Infrastructure Energy

JSW Energy Reaches 20 GW Locked-in Generation Capacity

JSW Energy announced that it has secured a total generation capacity of 20 GW through renewable energy projects in the commercial and industrial sector. This includes 3.1 GW of locked-in capacity, comprising 2,654 MW of captive capacity for the JSW Group and 445 MW of third-party commercial and industrial (C&I) capacity. Currently, the company's operational C&I capacity stands at 488 MW. JSW Energy has signed power purchase agreements (PPAs) with DCM Shriram and Indus Towers Ltd for the supply of renewable energy, further reinforcing its commitment to sustainability. With this, the companyâ€..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000