A 40,000 sq ft penthouse has been sold in Pune for ₹37 crore making it the most expensive property deal in the city. The property is located in Lodha One, Bund Garden, a project by listed real estate developer Lodha that goes by the name Macrotech Developers, the company said in a statement.
Over the last two years (April 2022 to date), Pune has seen 32 apartment registrations in the luxury segment, valued above ₹10 crore (agreement value). The highest value of which was ₹18.5 crore.
Post-registration on RERA, the Lodha One (Bund Garden) penthouse, with a per-square-foot price in the range of ₹28,000-29,000, becomes the most expensive in this segment, the company said in a statement.
Lodha One is the developer’s first luxury project in Pune. The penthouses in the project are called Emperor Palace.
Lodha’s move with Bund Garden comes as a response to meeting this demand and the rising scarcity of land in Pune, the company said.
Lodha One Bund Garden is spread across three levels with features like a private terrace and pool for the homeowners. Exclusive services are provided by Lodha’s private hospitality service, Saint Amand, catering to all hospitality needs of the residents. It is designed by Singapore-based, Sitetectonix firm in alignment with Lodha’s philosophy.
Lodha One is the tallest tower in Pune Camp. The landscape of the project has been envisaged around two majestic Banyan trees that have been preserved for over 150 years, the company said.
Property registrations in the Pune real estate market
Property registrations in the Pune real estate market on an average are in the range of 14,000 to 20,000 units in the entire Pune district, according to the data of Knight Frank India, a real estate consultancy firm. In the Pune real estate market, majority of the property registrations are in the range of ₹50 lakh to ₹1 crore.
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For example, in March 2024, out of total over 21,000 property registrations in Pune district, 33% were in the range of ₹50 lakh to ₹1 crore; 32% in ₹25 lakh to ₹50 lakh; 14% in ₹1 crore to ₹5 crore and a little less than 1% in the price range of above ₹5 crore, according to Knight Frank India data.
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