Pune Man Stunned as Home Price Soars from Rs 1.8 Crore to Rs 2 Crore in 15 Days
As property prices climb sharply across several Indian metros, Pune’s real estate market is increasingly mirroring the cost pressures seen in major capital cities. A viral post on X has reignited the debate around affordability after a homebuyer claimed that the price of an apartment jumped by nearly Rs 20 lakh within just 15 days.
The post, shared by X user Kunal Gandhi, detailed his experience while exploring a 3BHK apartment in Pune. According to him, the flat was priced at Rs 1.8 crore when he first visited the project during its launch phase. However, when he returned two weeks later, the quoted price had risen significantly.
“Went to see a 3BHK flat in Pune on launch a month ago. Realtor quoted looks 1.80 CR. Went there after 15 days again. This time, the price went to 1.95 CR. I wanted to ask further questions yesterday. Quote is now 2 CR with projected to be 2.15 CR next month,” Gandhi wrote.
The post quickly gained traction, triggering widespread discussion on whether India’s real estate market is witnessing genuine demand or heading towards an unsustainable bubble. Gandhi himself questioned the sharp escalation, suggesting it could either point to excessive speculation or unusually high buyer demand.
Several users weighed in with contrasting views. One user argued that demand for housing has always existed, but the ability to pay has evolved. With globalisation enabling many Indians to earn higher, globally benchmarked salaries, purchasing power has increased. However, the user warned that this could encourage developers to inflate supply, potentially setting the stage for a market correction.
Others were more sceptical. Calling the situation a bubble, one user advised prospective buyers to avoid purchasing at inflated prices and opt for renting instead. They argued that property prices are rising far faster than wages, forcing buyers into long-term loans that may take over a decade to repay.
Another user pointed to industry practices that contribute to price inflation. They claimed that projects are often marketed as “80% sold” even when buyers have paid only minimal booking amounts. This artificial scarcity, the user said, allows developers to justify repeated price hikes.
The rapid price increases in Pune’s real estate market reflect a broader trend across India, where urban areas are experiencing significant growth in property values. While some argue that this growth is driven by genuine demand and economic factors, others see it as a potential sign of a market bubble that could lead to financial instability for homebuyers and investors alike.
