Pune’s Hinjewadi registers 39% rise in property prices amidst surge across metros – Anarock report

Pune, August 31, 2024: The property prices in Pune’s IT Hub, Hinjewadi, have seen a 39% increase in the last five years. This trend is in line with the overall trend across the country with an average surge of 45% in the same timeframe.

A research by ANAROCK Group has revealed that real estate market in seven major metropolitan cities, namely, Delhi, Mumbai, Pune, Kolkata, Bangalore, Hyderabad, and Chennai have witnessed steep growth. Leading the pack is Bangalore’s Bagaluru area, which registered the steepest rise of 90%, from ₹4,300 per square foot in 2019 to ₹8,151 per square foot in 2024.

In a close contest, properties in Hyderabad’s Kokapet area appreciated by 89%, with prices appreciating from ₹4,750 to ₹9,000 per square foot. In Delhi, the Dwarka Expressway region registered a 79% increase in property prices. Similarly, there was a 58% rise in Bangalore’s Sarjapur Road, 57% in Hyderabad’s Bachupally and Tellapur, 53% in Mumbai’s Panvel, 48% in New Gurugram, and 40% in Mumbai’s Dombivli.

This unusually steep upward movement in the property prices was witnessed in the post Covid-19 era during the last two years, the report stated. Anuj Puri, Chairman of Anarock Group, said that Hyderabad led the steep appreciation trend with a 64% increase in prices over the last five years, followed by Bangalore at 57%, and Delhi and Mumbai at 48%. Kolkata, however, saw the smallest increase at 25%.

Supply of Housing Units

During the same duration, between between 2019 and H1 2024, the Indian real estate market has also witnessed a surge in supply of new residential units across major cities.

Here is a snapshot of the regions with highest supply of new residential units;

According to the ANAROCK Research report, Mumbai Metropolitan Region (MMR)’s Dombivli stands out as the most active micro-market in terms of new launches at close to 45000 new residential units being placed in the market.