The average rate of residential properties in Pune touched an all-time high of Rs 6,590 per square feet, rising 11 per cent annually in 2024 but, sales declined by 5 per cent in 2024 calendar year to 90,127 units., according to a report by Gera Developments.
The rise in home prices continued for a 5th consecutive year. On an already increased base, the average rate across the city increased by 10.98 per cent to an all-time high of Rs 6,590 per square feet.
Sales have dropped from 1.03 lakh homes in 2022 to about 94,500 homes in 2023 and further down to around 90,000 homes in 2024. New launches have also come down to 91,400 units in 2024 from 96,350 units in the preceding year. In 2022, 1.03 lakh new homes were added.
The report by Gera Developments is based on census covering over 3 lakh under-construction units and 2,300+ projects.
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