Home Sales in IT-Hub Areas of Pune See Dip Amid Economic Uncertainties
The western and eastern zones of Pune, known for their IT industry presence, have witnessed a decline in home sales due to global trade uncertainties and rising property prices. These areas, which account for 40-60% of the city's housing sales, have seen a drop in units sold from 16,372 in the first half of 2024 to 15,845 in the same period in 2025.
PuneReal EstateIt IndustryHousing MarketHome SalesReal Estate PuneAug 05, 2025
The current situation in the IT sector in terms of jobs is very critical. Besides, the onslaught of US tariffs is adding to the problems, Kharadi resident Snehal Singh said. The western zone stretches from Baner and Aundh to Hinjewadi and Wakad, while the eastern zone includes Yerawada, Vimannagar, Kalyaninagar, and Kharadi.
These areas account for roughly 40-60% of total housing sales in the city, real estate industry insiders said. Hinjewadi, Kharadi, and Pimpri Chinchwad drive over 75% of total sales in the city. Average home values in Pune are up 27% in three years. Premium housing demand continues to surge, with sales of Rs 1 crore homes more than doubling, Manish Jain, president, Credai Pune, said.
The west zone's dominance in both supply and demand increased during the past few months, Knight Frank India said in a report. Localities like Baner, Hinjewadi, and Bavdhan continued to anchor development activity, accounting for 43% of the city's launches and 40% of sales from January to June. East Pune maintained a steady 25% share of launches and 22% in sales.
The overall impact on the home market was also on account of sticker price shock, Rohit Gera, MD, Gera Developments, said. The average ticket prices of apartments in the city increased by 40% over the past five years, and the home size surged by 25%. It will help the sector if the home sizes are reduced a bit. Then it will induce a given homebuyer with a fixed budget to book a flat while maintaining the current prices, bringing back the demand, he said.
Despite the dip in the number of units, sales grew in terms of value, indicating a demand for larger and costlier homes. Credai data showed that 2 BHKs in Baner, Balewadi, and Kharadi were costing upwards of Rs 1.2 crore, and 3 BHKs were costing above Rs 1.7 crore. The IT areas are also following the overall trend seen in the city and also in other metros. Housing had a good run after the pandemic and there is consolidation in this year. The larger homes are costlier making it difficult to get something in a smaller budget, Poonam Korde of Wakad said.
Between January and March, west Pune saw a drop in sales, consistent with the broader trend, experienced a decline in housing sales. This continued over the next three months, where sales in west and east Pune declined marginally, an Anarock report said.
Frequently Asked Questions
What are the main areas in Pune that have seen a decline in home sales?
The main areas in Pune that have seen a decline in home sales are the western and eastern zones, which include areas like Baner, Aundh, Hinjewadi, Wakad, Yerawada, Vimannagar, Kalyaninagar, and Kharadi.
What factors are contributing to the decline in home sales in these areas?
The decline in home sales in these areas is attributed to global trade uncertainties, rising property prices, and the critical situation in the IT sector, including the impact of US tariffs.
How much have home values increased in Pune over the past few years?
Average home values in Pune have increased by 27% in the past three years, with premium housing demand surging and sales of Rs 1 crore homes more than doubling.
What is the suggested solution to bring back demand in the housing market?
Real estate experts suggest reducing home sizes to help homebuyers with fixed budgets book a flat while maintaining current prices, which could bring back demand.
How have the sales of larger and costlier homes been affected?
Despite the dip in the number of units sold, sales of larger and costlier homes have grown in terms of value, indicating a continued demand for premium housing options.
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