Property prices in Pune up 10% in year, says study

Property prices have increased by nearly 10 per cent in the past one year in the city, says a study by sulekha.com, a digital property marketplace. The study revealed that prices have increased by an average of 15 per cent in Mumbai and 10 per cent in Pune from June 2011 to June 2012.

As per the study, while in Mumbai over 40 per cent of the properties are available in the price range of Rs 40 lakh to Rs 1 crore, in Pune 49 per cent of the properties is available in the same price range.

This study is an analysis of over 65,052 residential property listings on sulekha.com covering categories like apartments, flats, individual houses, plots, villas, row houses, beach houses and farm houses.

The other highlight of the study was that there has been a sharp increase of 22 per cent in the cost of 2 BHK (bedroom, hall and kitchen) apartments, houses in Mumbai. In Pune, 1 BHK houses witnessed an increase of 11 per cent.

The study also revealed that in both cities, 2BHK houses constitute the largest share of available property. While in Mumbai, 2BHKs constitute 40 per cent of the total supply, in Pune the segment represents 43 per cent of the total supply.

Also, the study pointed out that Mumbai has a high availability of 1BHK properties at 35 per cent while Pune has a high availability of 3 BHK houses at around 25 per cent.

Over the past two years, property prices have gone up by 41 per cent in Mumbai and 30 per cent in Pune. Satya Prabhakar, CEO of Sulekha, said, "The Pune-Mumbai study has revealed that there is a steep increase in the prices of 2 BHK apartments, which constitute above 40 per cent of the total supply across these regions."

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