Tuesday, November 24, 2009

53,000 residential units will be added in Pune real estate market by 2011 - Knight Frank survey

As per the latest Knight Frank Residential Report released on November 23, Pune would see an infusion of approximately 53,176 units, an addition of around 54.27 million sq feet, in the new residential space.

"In Pune, 2010 will witness the maximum infusion accounting for around 44% of the total supply. This can be attributed to the fact most of the under construction projects which were delayed have again started," said Gulam Zia, national director (Research & Advisory Services) Knight Frank India.

The study has divided Pune residential market in five zones:
1) The north and north- western zone,
2) the west and south-western zone,
3) the south and south-eastern zone,
4) the east and north-eastern zone and
5) the central zone.

The highest growth would be in the north and north western zone comprising areas such as Aundh, Baner, Wakad and areas along the expressway, which would see an addition of 22.5 million sq ft by 2011 amounting to over 20, 307 units.

The west and south western zone comprising Kothrud, Karvenagar, Sinhagad Road and Dhayari is expected to see over 8,400 units being added by next three years adding up to 8.5 million sq ft.

In the south and south eastern part with places like Wanavdi, Kondhwa, NIBM Road and Katraj, there would be around 9,057 units adding 5.85 million sq ft.

In Hadapsar and Manjri areas in the east and north-east, an addition of 90 mil sq ft will be made.

The central areas such as Deccan, Model Colony, Senapati Bapat Road , Shivajinagar, Boat Club Road, Bund Garden, Swargate and city areas would see approximately 0.5 milllion sq ft and 321 residential units.

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1 comment:

  1. Great news! So can we see affordable property rates now?

    Affordable means, sub-20 lakhs for 2-BHKs flats in Aundh and its Annexes.

    Or would we still get to hear as to how steel prices, land prices, commission prices, govt. taxes, etc have shot up, so that 35L is the bare minimum, etc.