PUNE Residential Property Market Overview -May 2015
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The demand from both end user and investors precisely in the mid range segment kept the overall residential market positive. Majority of the demand was observe in projects located in micro markets such as Wagholi, Kharadi, Undri, Pisoli, Hinjewadi, Baner and Bavdhan. There were number of new launches in the first quarter of 2015 catering both premium and mid segment. Project launched in the premium segment include “Primero” by Supreme Universal at Baner, “Piazza” by Marvel Group at Viman Nagar and “Panchshil Towers” by Panchshil Realty at Kharadi. These projects were priced in the range of INR 7,750 – 9,000 per sq ft. In the mid range project launched were; “Acropolis” and “Platino” by Goel Ganga Group at Baner and Kharadi respectively, “Infinity” by Godrej Properties at Baner, “Vantage” by Mantri Realty at Kharadi and “Tinsel Town” by Kohinoor Group at Hinjewadi Phase II. These projects were priced in the range of INR 5,000 – 6,750 per sq ft. The city witnessed various project completion this quarter in locations like Baner, Balewadi, Kondhwa, Hadapsar, Undri, NIBM, Ambegaon, Wanowrie, Wakad, Pimple Nilakh, Pimple Saudagar, Pisoli and Katraj. Market Indicators Relative to prior period 2014 2014 2015 2015F Market Q3 Market Q4 Market Q1 Market Q2 CAPITAL RATES CONSTRUCTION NEW PROJECTS RENTAL RATE MICRO MARKETS CAPITAL VALUES (INR PSF) % CHANGE QoQ YoY Capital Values PUNE | RESIDENTIAL
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Transcript of PUNE Residential Property Market Overview -May 2015
The demand from both end user and investors precisely
in the mid range segment kept the overall residential
market positive. Majority of the demand was observe in
projects located in micro markets such as Wagholi,
Kharadi, Undri, Pisoli, Hinjewadi, Baner and Bavdhan.
There were number of new launches in the first quarter of
2015 catering both premium and mid segment. Project
launched in the premium segment include “Primero” by
Supreme Universal at Baner, “Piazza” by Marvel Group
at Viman Nagar and “Panchshil Towers” by Panchshil
Realty at Kharadi. These projects were priced in the
range of INR 7,750 – 9,000 per sq ft. In the mid range
project launched were; “Acropolis” and “Platino” by Goel
Ganga Group at Baner and Kharadi respectively, “Infinity”
by Godrej Properties at Baner, “Vantage” by Mantri
Realty at Kharadi and “Tinsel Town” by Kohinoor Group
at Hinjewadi Phase II. These projects were priced in the
range of INR 5,000 – 6,750 per sq ft.
The city witnessed various project completion this quarter
in locations like Baner, Balewadi, Kondhwa, Hadapsar,
Undri, NIBM, Ambegaon, Wanowrie, Wakad, Pimple
Nilakh, Pimple Saudagar, Pisoli and Katraj.
Market Indicators
Relative to prior period 2014 2014 2015 2015F
Market Q3 Market Q4 Market Q1 Market Q2
CAPITAL RATES
CONSTRUCTION
NEW PROJECTS
RENTAL RATE
MICRO MARKETS CAPITAL VALUES
(INR PSF)
% CHANGE
QoQ YoY
Capital Values
PUNE | RESIDENTIAL
The capital values of these newly completed projects in
secondary market was ranging between INR 6,000 –
7,000 per sq ft for premium projects and INR 3,000 –
5,000 per sq ft for mid segment projects.
Capital values for residential properties across Pune have
seen an average appreciation of 2% QoQ; however, rents
remained stable across all the micro-markets due to
continuous addition of new units.
In private equity funding's this quarter Xander Advisors
India has invested around INR 280 crore in Kumar Urban
Development’s residential proposed project at Karve
Road in central Pune. In an another transaction, ASK
Property Investment Advisors had exited from their
investment in two residential projects in Pune namely
“Serano” by Amit Enterprises at Baner and “Skyone by
“Paranjape Scheme's at Model Colony.
Colliers View
The city residential market will continue to gain
momentum. Micro-markets located in South East, North
West and South West zones of Pune will remain active
in terms of project completion and new launches.
Overall, capital and rental values are expected increase
in medium term. however, select micro-markets located
in Central and North East will see a stable scenario.
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed
reliable. While every reasonable effort has been made to ensure its accuracy, we
cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are
encouraged to consult their professional advisors prior to acting on any of the
material contained in this report.
Colliers International (India)
Property Services Pvt. Ltd.
5th Floor, Suyog Platinum Towers,
Naylor Road, Off Mangaldas Road
TEL +91 20 4011 1356
Average Capital Value Trends
Source: Colliers International India Research
Average Rental Values
Source: Colliers International India Research
National Director
Residential Services
Manager
Research Services
National Director
Valuation & Advisory
Services and Research
Director
Residential Services| India
Associate Director
Research Services
