Pune's Housing Market Surges: Demand for ₹70 Lakhs to ₹2 Crores Homes Triples
Pune's housing market has seen a significant surge, growing from ₹36,000 crores in 2021 to ₹65,000 crores in 2024. In the first half of 2025, the city has already surpassed ₹33,000 crores in housing sales, with a notable increase in demand for homes priced between ₹70 lakhs and ₹2 crores.
PuneHousing MarketReal EstateCredai PuneCre MatrixReal Estate NewsJul 31, 2025
In the first half of 2025, the Pune Metropolitan region sold the most real estate in India, with almost 44,000 units sold for a total of ₹32,800 crores in the first half (H1) of 2025, reflecting a 27% increase in average unit value over the last three years. Pune’s housing market grew from ₹36,000 crores in 2021 to ₹65,000 crores in 2024—an 80% surge in three years. In just the first half of 2025, Pune has already surpassed ₹33,000 crore in total housing sales value. Pune has consistently led India’s major metros in housing sales volume over the past five years—a testament to its exceptional affordability, liveability, and infrastructure ecosystem. Despite not being a state capital or having port access, Pune continues to retain its leadership in residential real estate, outperforming larger metro cities.
The CREDAI Pune–CRE Matrix Report is known for its credibility, being the most authentic and data-backed analysis in the industry. The report relies on verified data from authoritative government sources, including the Maharashtra Registration and Stamps Department (IGR) and the Maharashtra Real Estate Regulatory Authority (MahaRERA).
The share in sales of homes priced below ₹70 lakh in Pune has declined from 85% in 2021 to 60% in H1 2025. Similarly, properties priced under ₹45 lakh have seen a reduction from 55% to 35% over the same period. This shift is primarily attributed to escalating construction costs, rising land prices, and a growing consumer preference for more spacious and luxurious living spaces. Meanwhile, demand for homes priced between ₹70 lakhs to ₹2 crores has more than tripled in four years, with significant new launches in the ₹70 lakhs–₹1 crore and ₹1–2 crore segments. Sales of premium and luxury homes (>₹1 crore) have doubled in three years, reflecting a shift toward bigger, more expensive properties. Key regions—PCMC, Pune North West (areas around Hinjawadi IT park), and Pune North East (areas around Kharadi IT Park)—drive over 75% of sales.
Key Highlights:
● Unmatched Affordability: With average home prices around 75 Lakhs, Pune remains India’s most affordable metro city, attracting industries and migrants.
● Office Market Boom: Pune ranks 5th nationally in office space sales. Pune’s office sector, now in the “100 million sqft club,” is projected to reach 150 million sqft by 2030, with an 8.8% CAGR in rentals over three years (IIMB CRE Matrix CPRI report). There has been a phenomenal growth in office rentals of nearly 9% in 3-4 years – this means there will be more jobs, which can increase purchasing power and people can buy more houses, it is all interlinked.
● Warehousing Leadership: Pune holds the 2nd position nationally in warehousing, with 50 million sqft of stock and near-zero vacancy.
● Infrastructure Boost: A forthcoming new airport and recreational spots enhance Pune’s appeal as a real estate and economic hub.
● Pune continues to stand out as India’s most affordable metro city for real estate, offering homebuyers significant value compared to all other major urban centers.
“The history of Pune real estate is one of steady development. Pune Metropolitan region has maintained its position as India’s top metropolitan region for home sales. Pune has firmly established itself as the first choice for homebuyers, ranking fifth nationally for office space demand and second for warehousing. There’s significant potential for growth in both office and warehousing sectors. This growth is also fuelled by Pune’s proximity to many scenic and recreational destinations like Mulshi, Mahabaleshwar, and Lonavala—each just a short drive away—offering residents the perfect blend of urban convenience and weekend retreats. The market is rapidly maturing from its beginnings of affordability to a growing desire for premium housing. Being at the forefront of this change, encouraging responsible growth and promoting industry transparency, makes CREDAI Pune proud,” said Mr. Manish Jain, President, CREDAI Pune.
“At CRE Matrix, we are thrilled to release another groundbreaking research in collaboration with CREDAI Pune. Pune has emerged as a top-performing metro city, and has already reached 32K crores in its housing units being sold in just the first half of 2025. This indeed reflects a massive acceleration in demand and the units priced between 1cr to 2cr is the new sweet spot for Punekars, indicating a desire for bigger, spacious homes. North West Pune and PCMC region lead the way in the homebuying segment in 2025. Pune housing market growth story has just started, I foresee Pune shall soon breach the magical 1 lakh unit sales annually. Buyers are spoilt for choice and now have an array of options to choose from, spanning affordable to premium 1, 2, 3, and 4 BHK units. Additionally, with the upcoming Navi Mumbai International Airport, Pune will soon be just 1.5 to 2 hours away, enhancing its connectivity and appeal,” stated Abhishek Kiran Gupta, CEO, CRE Matrix.
Rahul Ajmera, real estate developer and data analyst, said, “Between January and June 2025, Pune experienced a significant decline in new housing launches, leading to a reduction in available inventory for homebuyers. This decrease in supply has provided developers with an opportunity to clear existing unsold stock. A primary factor contributing to the limited new project options was the delay in issuing Environmental Clearances (ECs). However, recent developments indicate that these regulatory hurdles are being addressed, which is expected to facilitate the timely approval of pending projects and stabilize the market.”
Pune is seeing a significant change in consumer behaviour in the real estate market. Buyers of today are well-informed, aspirational, and prepared to make investments in homes that are prepared for the future. Even in areas that were previously price-sensitive, the demand for 2.5 and 3BHKs is increasing, which emphasizes the need for mid-premium inventory.
The city is positioned to become a national model for sustainable urban growth thanks to more recent infrastructure projects like the Pune Metro, Ring Road, and planned international airport. The report highlights that this momentum can be further accelerated by timely project clearances, ongoing policy support, and the digitization of land records.
Frequently Asked Questions
What is the current status of Pune's housing market?
Pune's housing market has grown significantly, with a 27% increase in average unit value over the last three years. In the first half of 2025, the city has already surpassed ₹33,000 crores in total housing sales value.
What is the price range of the most demanded homes in Pune?
Demand for homes priced between ₹70 lakhs and ₹2 crores has more than tripled in four years. This segment is now the new sweet spot for homebuyers in Pune.
What factors are driving the increase in home prices in Pune?
Escalating construction costs, rising land prices, and a growing consumer preference for more spacious and luxurious living spaces are the primary factors driving the increase in home prices in Pune.
What are the key regions driving housing sales in Pune?
Key regions such as Pimpri-Chinchwad (PCMC), Pune North West (areas around Hinjawadi IT park), and Pune North East (areas around Kharadi IT Park) drive over 75% of housing sales in Pune.
What are the future projections for Pune's real estate market?
Pune is expected to continue its growth trajectory, with projections indicating that the city will soon breach the magical 1 lakh unit sales annually. The upcoming Navi Mumbai International Airport and other infrastructure projects will further enhance its connectivity and appeal.
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