The prices of real estate are increasing day by day with property prices soaring through the roof.
This can be seconded by a penthouse known as “Emperor Palace” being recently sold for Rs 37 crore by renowned real estate developer Lodha.
This sale is regarded as the “most expensive” real estate transaction involving luxury apartments.
Lodha Sells Penthouse At Rs 37 Crore: Most Expensive Real Estate Transaction
The 12,000 square foot penthouse is a part of Pune’s Bund Garden’s Lodha One project. Macrotech Developers, which goes by the moniker Lodha, is the developer of Lodha One.
The lavish architecture and scenic setting of the Lodha One project are well-known. Perched atop a residential tower, Emperor Palace is the city’s first penthouse, with views over 500 acres of lush flora.
32 luxury apartment registrations in Pune during the past two years have been valued at more than Rs 10 crore.
Prior to the sale of Emperor Palace, the greatest value in these registrations was Rs 18.5 crore. The penthouse located in Bund Garden at Lodha One is the most costly in this sector, with a price per square foot ranging from Rs 28,000 to Rs 29,000 after registration on RERA.
The developer’s first high-end project in Pune is called Lodha One.
Increase in Pune’s Real Estate Market Transactions
Reports have confirmed that there has been a noticeable shift in Pune’s appetite for upscale gated communities.
There are three levels to the penthouse in Lodha One Bund Garden. Also, the penthouse has a private patio and a pool just for the owners.
Saint Amand, Lodha’s private hospitality service, offers exclusive services. In keeping with Lodha’s ethos, the Singaporean company Sitetectonix designed Lodha One.
In the first quarter of 2024, Pune’s real estate market saw an increase in transactions and overall sales value.
Square Yards Data Intelligence reports that the Inspector General of Registration (IGR) in Maharashtra has reported 27,056 property registrations, a 49% increase from Q4 2023. As a result, the sales value increased to ₹17,837 crore, up 56%.
VTP Realty topped the developer pack with 1,083 deals totaling ₹951 crore in sales. Vilas Javdekar Developers came in second with ₹491 crore in sales, followed by Kolte Patil Developers with ₹643 crore.
Of the properties, nearly half (45.4%) were valued under ₹50 lakh, 39% between ₹50 lakh and ₹1 crore, and 13.2% between ₹1 crore and ₹2 crore.
