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  Pune’s real estate market is experiencing a dynamic shift, driven by a confluence of factors. Understanding these trends and implementing data-driven strategies is crucial for developers and channel partners to navigate this exciting landscape.   Current Market Trends: A Look at H1 2024 (Jan – June) Robust Demand: The first half of 2024 witnessed a significant surge in property registrations in Pune. Reports from sources indicate that in June 2024, there was a 46% increase compared to January 2023, indicating strong buyer interest. Affordability Reigns Supreme: While demand is healthy across segments, mid-range properties remain the most sought-after. Data suggests properties priced between ₹50 lakh and ₹1 crore captured the largest market share (32%) in January 2024, followed by those between ₹25 lakh and ₹50 lakh (31%). Growth Beyond Affordability: Experts predict a rise in the mid, premium, and high-end residential property segments for 2024. This indicates a diversified market catering to various buyer preferences.   Future Predictions Looking ahead, the Pune real estate market is expected to maintain its growth trajectory. The influx of new office and retail spaces will provide more options for businesses and consumers, although it may impact vacancy rates. Residential property prices are likely to remain stable with a slight upward trend due to sustained demand and limited supply.   Sellability: Navigating Pune’s Dynamic Real Estate Market Sellability, under the leadership of Mr. Abhishek Mishra, is uniquely positioned to help real estate developers and channel partners capitalize on these trends. With a proven track record of launching over 30+ projects across various categories, Sellability combines deep market insights, best-in-industry team strength, and a pedigree with cumulative experience of selling ₹8000+ Cr worth of inventory. They offer innovative solutions to deliver exceptional results. Notable achievements include several residential and commercial projects across Pune, selling total inventory worth ₹1600+ Cr in the last 2 years, and achieving a 40% sell-out during pre-launch while maintaining optimum velocity throughout various phases.   Sellability offers comprehensive end-to-end services, starting from land acquisition, JV/JD structuring, strategic consulting, and execution. Their services include but are not limited to market analysis, product planning, Go-To market strategy, sales and marketing integration & execution, while ensuring brand upliftment along with high velocity and volume performance. By leveraging technology, process modelling, and data analytics along with deep knowledge of the Pune real estate market, Sellability provides actionable insights that help developers and channel partners make informed decisions and maximize their returns.   As Pune’s real estate market continues to evolve, partnering with an expert advisory firm like Sellability ensures access to unmatched expertise and a track record of success. Their strategic approach and innovative solutions make them a valuable partner for real estate developers and channel partners looking to thrive in this dynamic market.   Mr. Abhishek Mishra Founder & CEO, Sellability Sales & Marketing Solutions LLP am@sellability.in

  The Professional Realtors of Pune (PROP) celebrated their 8th anniversary, known as PROP Day, on 5th July 2024. Powered by BrahmaCorp, this significant event brought together prominent figures and stakeholders from the real estate community in Pune, marking a milestone in the organization’s history. The event commenced with a warm welcome from Darshan Chawla, who introduced the NAR-India leadership team. Notable attendees included Chairman and Chief Guest Sumanth Reddy, Chairman Emeritus Ravi Varma, Organising Secretary Ashwin Rasane, and Director of the West Zone Mehul Vithlani. Additionally, Chawla welcomed leaders from CREDAI Pune Metro, including Arvind Jain, Aditya Jawadekar, Kapil Gandhi, Akhil Agarwal, and Dilip Mittal. The event also saw a gathering of developers, PROPians, realtors, and other key stakeholders. The PROP leadership team, represented by President Darshan Chawla, Chairman Kishen Milaney, Vice Presidents Abhijit Sabharwal and Ramesh Toshniwal, Secretary Kirti Bhosale, Treasurer Vikram Malik, Joint Secretary Mayank Tiwari, Director of Events Priti Chaddha, Director of Sports and CSR James Paul, and Director of Memberships Chandrakant Gaikwad, played a crucial role in the event. Senior member Rajat Sachdev served as the master of ceremonies. Sumanth Reddy shared his vision for enhancing education and training for realtors nationwide, emphasizing the need for better organization within the industry. He introduced the concept of a NAR-India portal designed to facilitate connections between buyers, sellers, and realtors, ensuring authentic leads and transactions. Ravi Varma highlighted the importance of client satisfaction, which he described as the key to sustained success in the real estate business. Dilip Mittal presented PMRDA’s future vision for Pune, while Akhil Agarwal discussed crucial aspects of MahaRERA regulations. Ramesh Toshniwal provided a comprehensive report on the sales and achievements of PROPians over the past year, showcasing the community’s impressive performance. His report highlighted the remarkable achievements of PROPians, leaving many attendees astonished. The event concluded with an engaging panel discussion on the “Role of Realtors,” moderated by Kishen Milaney. The panel included industry leaders such as Arvind Jain of Pride Group, Aditya Javdekar of VJ Group, Ravi Varma, and Sumanth Reddy. The discussion covered a range of topics, from market trends to ethical practices, offering attendees valuable insights and knowledge about the industry.   Key Takeaways from PROP Day 2024: Vision for Education: Emphasis on enhancing education and training for realtors. Client Satisfaction: Importance of client satisfaction for long-term success. Future Vision: Insights into PMRDA’s plans for Pune and MahaRERA regulations. Achievements: Recognition of the exceptional sales and achievements of PROPians. Expert Insights: Valuable knowledge shared during the panel discussion on market trends and ethical practices. PROP Day 2024 was a resounding success, highlighting the progress and potential of the real estate community in Pune.

Abhishek Kiran Gupta CEO, CRE Matrix & IndexTap India’s Grade A office demand saw a 12% growth in Q1 CY’24 compared to the previous quarter and a 14% growth compared to the same quarter last year. Bengaluru, MMR, and Delhi-NCR contributed almost two-thirds of the office demand, with the top three cities experiencing a combined growth of 23% in Q1 CY’24 on a quarter-on-quarter basis. Pan-India office demand grew by 14%. In keeping with the tradition of low completions in the first quarter of the calendar year, office supply saw a sharp dip, with only 10.5 million square feet (msf) being infused in Q1 CY’24, which is almost 38% lower than the previous quarter and 5% lower compared to the same quarter last year. Bengaluru and Hyderabad together contributed almost 65% of the new supply in Q1 CY’24. As a result, pan-India vacancy dipped by 50 basis points. Rentals on a pan-India basis continued to rise, inching towards the ₹100-mark, with an 8.7% increase in Q1 CY’24 compared to the previous quarter. The difference between market and in-place rentals widened further to about 14%, indicating an overall strong landlord’s market. City-wise, Bengaluru, Pune, and Hyderabad saw an uptick in rentals in Q1 CY’24 compared to the previous quarter. The IT/ITeS sector, in its return-to-office mode, dominated the leasing demand share, contributing almost 28% to office demand. The BFSI sector’s share in leasing demand grew from 16% in Q1 CY’23 and 13% in Q4 CY’23 to 20% in Q1 CY’24. Fifty percent of the BFSI demand came from Mumbai and Chennai alone. On the IT/ITeS side, while Bengaluru contributed 35% to the sector’s demand, it was Noida, at 20%, that overtook Hyderabad in Q1 CY’24. The highlight of the quarter was large-sized deals dominating office demand. Fifty-six percent of the demand in Q1 CY’24 came from occupiers taking more than 1 lakh square feet, compared to 36% in Q4 CY’23 and 33% in Q1 CY’23. Bengaluru, Hyderabad, and Noida contributed 66% to the >1 lakh square feet deals. Based on our estimates and predictive models, taking into account the upcoming supply, we believe pan-India office demand will cross 70 msf in 2024, driven by strong economic fundamentals and significant investments into the country’s physical and digital infrastructure.

  Gaurav Shahane studied architecture in India and specialized in Interior Design and Sustainability at Oxford Brookes University, United Kingdom. He was associated with CEPT University as a Research Architect before founding Orenda Studio in 2017. Inspired by travel and a wide art historical canvas, Gaurav’s work is driven by an uncurbed curiosity to explore materiality and diverse artistic styles from classical to contemporary. Creating modern spaces with an eclectic twist through thoughtful and dynamic designs is his forte.   His designs are a thoughtful outcome of global and local trends in fashion, lifestyle, art, architecture, and history, which have led him to execute a wide-ranging palette of retail spaces, offices, restaurants, and residential projects. He describes his designs as ‘creative and playful.’ HOLY NAILS is a 2,000 sqft nail spa and beauty academy in Baner, Pune, designed by Orenda Studio. This space makes you feel like a Bollywood star once you enter inside. Designed to make clients feel like celebrities, this space speaks luxury in every corner. It contains a pedicure section, a nail art section which is the primary area, and an area dedicated to beauty treatments, while the major half of the area is the academy. Ar. Gaurav believes in making every space he designs aesthetically pleasing and super comfortable. Currently, the studio is working on various luxury interior projects in the hospitality, commercial, and residential sectors in Pune, Mumbai, and Nashik.     Ar. Gaurav Shahane Principal Architect, Orenda Studio orendastudiopune@gmail.com

  Nestled in the heart of Pune, Mandai stands as a testament to the city’s rich historical and cultural tapestry. Known formally as Mahatma Phule Mandai, this bustling marketplace is more than just a commercial hub; it is a landmark that encapsulates the spirit of Pune’s past, present, and future. For real estate enthusiasts and investors, Mandai offers a unique blend of historical charm and modern potential, making it a focal point for both cultural preservation and contemporary development. Historical Significance Mahatma Phule Mandai was established in 1886 and named after the renowned social reformer Mahatma Jyotirao Phule. The market’s Gothic architecture, characterized by its high arches and intricate stone carvings, reflects the British colonial influence of the era. Originally, it was the primary marketplace for the residents of Pune, supplying fresh produce, grains, and other essential commodities. Over the years, Mandai has witnessed the city’s transformation, standing resilient through the tides of change, from the British Raj to India’s independence and beyond. Architectural Marvel The structure of Mandai is an architectural marvel. Designed by British engineers, it features a central tower that serves as a prominent landmark. The marketplace is constructed with an octagonal layout, allowing for maximum space utilization and ease of access. The blend of European architectural styles with local craftsmanship makes Mandai a unique example of Pune’s colonial architectural heritage. This historical aura is a significant draw for real estate developers and investors who value properties with a storied past. Cultural Hub Mandai is not just a market; it is a cultural hub that brings together diverse communities. The market’s vibrant atmosphere, with vendors selling everything from fresh vegetables to traditional spices and household items, reflects the local culture and traditions. The area around Mandai is also home to several temples and heritage sites, adding to its cultural significance. This cultural richness enhances the appeal of the locality for real estate projects aimed at preserving the historical essence while catering to modern lifestyles.   Real Estate Potential The historical and cultural significance of Mandai makes it a prime location for real estate development. Properties in and around Mandai are highly sought after due to their proximity to key commercial areas, educational institutions, and transportation hubs. The area’s historical value adds a premium to the real estate prices, attracting both domestic and international investors. Modern developments in the vicinity are designed to complement the historical aesthetics of Mandai, ensuring a harmonious blend of old and new.   Preservation and Development One of the critical challenges and opportunities in Mandai is balancing preservation with development. Real estate developers are increasingly focusing on projects that respect the historical integrity of the area while providing modern amenities. This approach not only safeguards the cultural heritage but also enhances the living experience for residents. Initiatives to restore and maintain the historical structures in Mandai are underway, ensuring that the market retains its historical charm while adapting to contemporary needs.   Conclusion Mandai, Pune, is a shining example of how historical significance can enhance real estate value. Its rich history, cultural vibrancy, and architectural splendor make it a unique locale that attracts investors and developers. As Pune continues to grow, Mandai stands as a beacon of the city’s illustrious past, offering a blend of historical preservation and modern development that is truly unparalleled. For those in the real estate market, Mandai is not just a place to invest; it is a place to be part of history.   Chaitanya Rohini Raje Explorer & Associate Director

  Progress and Prospects: PCMC-Nigdi Metro Corridor The PCMC-Nigdi stretch is distinguished by its strategic location and comprehensive development, making it a unique feature within the Pimpri-Chinchwad Municipal Corporation area. This corridor serves as a critical connector between various industrial and residential zones, facilitating seamless movement and accessibility. Key highlights of this stretch include prominent educational institutions such as D.Y. Patil College and Modern College of Engineering, vital transport hubs like the Nigdi Bus Stand, numerous commercial centers and retail outlets, advanced healthcare facilities, recreational areas like Bhakti Shakti Park, well-planned residential complexes, and a vibrant community atmosphere with various cultural events and festivals. The PCMC-Nigdi extension line is a logical extension of the existing Corridor-1 of the Pune Metro Phase-1 Project towards the north and will further improve the share of public transport, increasing ridership. The PCMC-Nigdi metro extension spans 4.413 kilometers and includes four elevated stations: Chinchwad Station, Akurdi Station, Nigdi Station, and Bhakti-Shakti Station. This extension line will cater to: Chinchwad Station – Serving commercial, residential, industrial, and religious places, and integrating with Chinchwad Indian Railway Station. Akurdi Station – Serving residential, educational, and industrial areas. Nigdi & Bhakti-Shakti Stations – Serving residential, entertainment, and religious places, and integrating with the city bus depot connecting semi-urban areas like Dehu, Chikhali, Talegaon, and Vadgaon. The city boasts excellent infrastructure, including well-planned road networks, connectivity via the Mumbai-Pune Expressway, and public transport options with upcoming metro links. Renowned for its educational institutions and advanced healthcare facilities, PCMC ensures a high quality of life. The city’s commitment to green spaces, eco-friendly initiatives, and cultural diversity, along with ongoing Smart City projects, further enhance its appeal, making it a prime destination for residents, businesses, and investors.   The Government of India sanctioned the project on October 23, 2023, with viaduct and structural work for the stations awarded to RVNL. The Bhoomipoojan was conducted on March 6, 2024. The European Investment Bank has been onboarded, and tree felling/transplantation permission has been granted. Land requirements have been sent to PCMC and private parties. The RVNL team has been mobilized, and geotechnical investigation is in progress. The Design Basis Report has been approved, and detailed design of stations and viaduct is underway. Additionally, the casting yard has been finalized. The Pune Metro Rail Project consists of two corridors: the North-South Corridor (Purple Line) and the East-West Corridor (Aqua Line), with a total length of 33.2 kilometers and 30 stations. The elevated section is 27.2 kilometers, and the underground section is 6 kilometers. There are two maintenance depots, one each at Range Hills and Vanaz. Sections from PCMC to Phugewadi (7 kilometers) and Vanaz to Garware (5 kilometers) were inaugurated by Hon’ble PM Shri Narendra Modi on March 6, 2022. Sections from Phugewadi to Civil Court (6.91 kilometers, 4 stations) and Garware to Ruby Clinic (4.75 kilometers, 7 stations) were inaugurated by Hon’ble PM Shri Narendra Modi on August 1, 2023. On March 6, 2024, the line from Ruby Hall Clinic to Ramwadi (6 kilometers) was inaugurated by Hon’ble PM Shri Narendra Modi.