[ad_1]
property market Pune has recorded its best monthly stamp duty Collections for the 2022-23 financial year in March stood at Rs 621 crore, a 20% increase over February’s performance. Total value of 14,309 properties registered in March 2023 was Rs 9,215 crore, shows data knight frank india,
The city witnessed a rise in property sales of Rs 50 lakh and above, which contributed 46% to March sales, as against 42% a year ago.
Due to reduced consumer interest towards larger properties, the share of apartments of 800 sq ft or more increased to 27% during the month from 25% a year ago. Primary and secondary housing deals accounted for 76% of the properties registered in March.
“The Pune The residential market continues to perform strongly despite high home loan interest rates and property costs, as end-users dominate the market with their desire for home ownership and affordable affordability. The pause in the policy repo rate hike cycle will give further comfort to homebuyers in this city where most of the sales happen under the Rs 50 lakh price segment,” said Shishir Baijalcmd, knight frank india,
Rush in property registration before possibility stamp duty The hike in April 2022, after a two-year grace period, led to an increase in registration of 21,389 properties and a similar increase in stamp duty revenue of Rs 690 crore in March 2022. In this comparison, it represents a decline of 33.1%. In registration in March 2023.
“Enquiry levels have improved and the conversion of the same into sales is also happening faster. Demand remains strong from first-time home buyers and those looking to upgrade, especially after the pandemic. Expectations of a hike in ready reckoner rates and stamp duty charges in the new financial year also spurred sales. Kohinoor Group,
Central Pune, comprising Haveli taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), continued to witness a high percentage of residential transactions with a total share of 80% in March, up from the same period last year largely unchanged. , West Pune accounts for 14% of transactions, the second largest share covering areas such as Maval, Mulshi and Velhe, according to a Knight Frank India study.
According to Baijal, ongoing infrastructural reforms and abundant employment potential also remain supportive of the city’s housing market.
Pune’s north, south and east micro-markets had a minor share of residential transactions, accounting for 6% of the total share during the month.
More than half the home buyers are located in the Pune region, which accounts for 74% of the demand. Homebuyers from neighboring regions like Aurangabad accounted for 12% and Mumbai and Navi Mumbai regions combined accounted for 7% of the market demand.
[ad_2]
Source link