Advertisement
Pune's real estate market is thriving amidst a national slowdown. Knight Frank India's report reveals a 57% year-on-year increase in property transactions, with 13,734 units sold in April 2024. This surge is driven by affordable housing options, attracting young professionals. Homes priced between INR 50 lakh and INR 1 crore dominate the market, representing 34% of sales. Smaller apartments under 500 sq. ft are also in high demand, comprising 39% of transactions. Central Pune remains the prime residential hub, while West Pune is emerging as a new hotspot. Millennials are the primary buyers, accounting for 58% of purchases.Read more
ASK Property Fund, affiliated with ASK Asset & Wealth Management Group, has exited the Avon Vista housing project in Pune, developed by Naiknavare Developers. The firm doubled its initial INR 80 crore investment to INR 156 crore, achieving a 21% IRR and 2x capital multiple. The timely completion and robust sales of the 613-unit project facilitated this successful exit. CEO Amit Bhagat highlighted the investment's self-liquidating nature, driven by cash flow from sales and milestone-linked collections. This strategic move underscores the firm's adeptness in real estate investment and project management.Read more
Gera Developments is celebrating a decade of its innovative ChildCentric Homes concept with the launch of Gera's Island of Joy in Pune. This 12.5-acre project offers 1,800+ homes, unparalleled amenities like clubhouses, Go-Kart racing, a wave pool, and bowling alley, along with 9 celebrity-led learning academies. Strategically located near IT hubs, it emphasises sustainability. Rohit Gera highlights their commitment to crafting exceptional living spaces for modern families. Amidst substantial growth in Pune's real estate market, Gera maintains equilibrium between supply and demand while increasing apartment sizes to meet evolving family needs.Read more
Advertisement
Priyanka Chopra's brother Siddharth Chopra and mother Madhu Chopra have leased one of their bungalows located in Koregaon Park, Pune to The Urban Nomads Community Private Limited, a co-living and co-working startup. As per the lease agreement signed on March 21st, the bungalow spanning a plot size of 3754 sqft will be rented for INR 2 lakh per month along with a security deposit of INR 6 lakh paid by the firm. Priyanka Chopra is known for her real estate investments and had recently sold two penthouses in Mumbai and commercial properties in Andheri.Read more
Advertisement
