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Pune realty among top performers in first 9 months of 2019: JLL

Pune realty among top performers in first 9 months of 2019: JLL

Aggregate residential sales was more than pre-demonetisation period in 2016

The real estate market in Pune was among the best performing in India along with Mumbai and Hyderabad during the first nine months of 2019. It surpassed the aggregate residential sales of the same period in 2016 (the pre-demonetisation phase), according to the latest JLL report titled 'JLL's Tour of India's Top Residential Hotspots – Pune Edition', released recently.

The report added that the quality-of-life index across various micro-markets along with growth in the office sector has been driving residential sales in the city. According to the report, about 33 per cent of the residential launches in Pune were in the north-west sub-market, especially in locations such as Balewadi, Mahalunge and Wakad.

Strong growth in office real estate in Baner-Balewadi has been driving residential demand and launches in its vicinity. Price appreciation for residential assets remained range-bound at 3 per cent year-on-year at the end of Q3 2019.

The top residential markets identified in the report are Mundhwa and its neighbouring locations such as Kharadi, Wagholi and Keshav Nagar in the eastern part of Pune and Bavdhan with micro-markets in the vicinity such as Balewadi, Mahalunge and Wakad in the west. These locations are likely to witness robust residential demand soon, the report added.

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