Pune: Sales of new homes in the city slid 6% to 15,690 units between July and Sept this year compared to the same period last year, data from real estate consultancy Anarock show. In the corresponding quarter last year, 16,620 units were sold.The decline in new home sales in Pune is in continuation of the broader trend observed so far this year. New flats sold declined by 5% and 15% between Jan-March and April-June, respectively, as per Anarock data. Industry players attributed this to the slower job market and postponement in buying due to geopolitical uncertainties.An Anarock analyst said buyers in Pune are also becoming more selective while making the decision to purchase homes. There are some neighbourhoods in Pune that are far from commercial hubs or city centres. There are some projects launched in these micro markets, but because of lower demand, sales numbers are down, he added.As per Credai’s Pune chapter, developers are targeting the Rs 80 lakh-Rs 1.5 crore segment while launching new projects. But because the overall supply is down, home prices have remained steady.Pune Credai president Manish Jain said buyers are evaluating factors such as location, connectivity, project quality and long-term value. The housing market has reached a more mature phase, with demand driven by users, he added.“The sentiment among homebuyers during the ongoing festive season is positive, although buyers today are more discerning and informed,” he added.Home sales in the other metro cities are mixed. Bengaluru, Hyderabad and the Mumbai Metropolitan Region have seen an uptick in home sales, but the National Capital Region (NCR), Chennai and Kolkata, in addition to Pune, have seen a drop in new home sales numbers. Put together, all the top cities in India registered a net 3% growth, Anarock’s data show.
