Pune: Out of the 629 redevelopment projects in Pune, 60% are located in Kothrud (244), as per a report by real estate startup Dreams Redeveloped. The startup analysed 4,823 Rera registered projects in Pune district since 2017, of which 629 are redevelopment projects.According to the report, redevelopment projects accounted for just 3.6% of new Rera registrations in 2017. This surged to 20-26% in 2023, said the startup’s founder, S Laxminarayan.“Kothrud leads the way in redevelopment, which is an important part of real estate’s life cycle — it offers an option to a prospective buyer to buy a prime property,” Credai Pune president Manish Jain said.Vishal Gokhale, CMD, Gokhale Constructions, said Kothrud was at the forefront of housing redevelopment as the residents are highly aware. “The area has been witnessing redevelopment for the past two decades,” he said.Apart from Kothrud, redevelopment is starting to catch on in Erandwane, Karvenagar, Deccan, Parvati, Sahakarnagar, Shivajinagar, Sadashiv Peth and Navi Peth. The share of redevelopment in these areas is highest in Shivajinagar (46%), followed by Parvati and Sahakarnagar.“Awareness levels in housing societies in the eastern parts of city increasing,” Gokhale added.Of the 629 projects, 373 are in active redevelopment — 91 are due for completion in 2026 and 123 projects in 2027. The report also noted that 30 projects slated to be completed this year have missed the deadline, and 53 have got at least one extension.Laxminarayan said that lack of proper documentation, disputes among flat holders and incomplete sanction of development plans taken by the developers from authorities are among the chief causes of a delay. “The govt had also allowed four months’ leeway because of geopolitical tensions — this is also registered as an extension,” he added.
