In two of the large real estate transactions executed this quarter in the Pune market, a leading real estate developer raised INR130 crores for its premium residential project while “Aswani Promoters and Builders” and a leading developer of Pune, have come together for a mixed-use development in Balewadi, spread across ~2.2 million square feet.
The project is under approval stage which will have majorly mid-segment residential and some supporting commercials development. Both the deals are facilitated by Colliers’ Capital Markets & Investment Services (CMIS) team of West India. These transactions are a testament to the growth opportunity the Pune market offers, investor comfort and Colliers team’s ability to find land and capital solutions.
A pre-certified platinum-rated premium residential complex by IGBC with luxurious amenities spread across approx. half a million square feet, is one of the biggest premium residential complexes in the Pune city. This investment comes on the back of the Pune market posting healthy growth since last year with prices of residential properties increasing by about 3% year-on-year, according to CREDAI-Colliers-Liases Foras Housing Tracker Report 2022, adding that the unsold inventory dropped 11% on a year-on-year basis.
Piyush Gupta, Managing Director, Capital Markets and Investment Services, Colliers India, said, “Pune Real Estate market continues to be resilient, and has witnessed robust activities in terms of sales, launches, investments and portfolio growth. These two transactions reaffirm the faith of investors and the developers in the growth story of the Pune market and Colliers is proud to have been at the center of facilitating these developments. Having a nuanced understanding of the Pune market, land and capital structures, Colliers’ Capital Markets team endeavour to continue to work closely with all stakeholders to ensure customised win-win solutions.”