Pune, 24th February 2025 – Pune has reaffirmed its position as India’s leading real estate market, recording the highest housing sales across the country for the fourth consecutive year. The *Pune Housing Report – February 2025, jointly released by CREDAI Pune Metro and CRE Matrix, highlights Pune’s dominance, affordability, and rapid growth in the real estate sector.
According to the report, Pune recorded 90,000 housing units sold in 2024, reflecting a 56% surge in sales since 2020. The total sales value soared to *₹65,000 crores in 2024, marking a 9.28% increase from ₹59,480 crores in 2023.
The official unveiling of the report took place at the Ramkumar Rathi Hall, CREDAI Pune Metro office, Camp, attended by key industry leaders, including **CREDAI Pune Metro President Ranjit Naiknavare, CRE Matrix CEO Abhishek Gupta, Public Relations Convenor Kapil Gandhi, Management Committee Members Abhishek Bhatewara and Punit Oswal, Data Analyst Rahul Ajmera, and Hiren Parmar. Over 100 representatives from the real estate sector participated in the event.
Key Insights from the Report
- India’s Top Real Estate Market – Pune led the country with nearly 90,000 housing units sold in CY2024, generating a total sales value of *₹65,000 crores, reflecting an extraordinary 116% growth since 2019.
- Affordability Fuels Growth – Pune remains the most affordable metro city in India, with an average home price of ₹73 lakh, significantly lower than Bengaluru (₹1.35 crore) and Hyderabad (₹1.75 crore).
- Investment Preference – 51% of individuals in Pune prefer real estate over other assets such as equities, gold, or fixed deposits, making it the most sought-after investment avenue.
- Market Expansion – Pune’s residential market has seen a *22% CAGR* in the total value of unit sales over the past five years.
- Changing Buyer Preferences – The share of homes priced below ₹70 lakh dropped to *60% in 2024, down from **85% in 2020, indicating **a rising demand for premium housing*.
- Luxury Housing Surge – Sales of homes priced above *₹1 crore have increased 5X in five years*, signaling Pune’s transformation into a more affluent real estate market.
- Affordable Housing Shift – Affordable homes priced below *₹45 lakh now account for 30% of total sales, compared to 55% in 2020, suggesting **a reduced supply in this segment.
- Regional Sales Hotspots – Over 75% of housing sales were concentrated in Pune North West (Hinjawadi – Mahalunge), Pune North East (Kharadi – Wagholi), and Pune North (Pimpri-Chinchwad).
- Southwest Pune Growth – The Kothrud-Bavdhan region witnessed a 55% rise in the average value of units sold between CY2020 and CY2024.
- Property Value Appreciation – Pune’s average home value has risen by 44% in the last five years, driven by larger unit sizes and higher input costs.
Industry Leaders Weigh In
Mr. Ranjit Naiknavare, President, CREDAI Pune Metro, stated:
“Over the past five years, we have seen a remarkable 56% rise in sales volumes, positioning Pune as India’s highest-selling real estate market. The total sales value has doubled, contributing significantly to government revenues. The most striking trend is the **5X increase in sales of homes priced above ₹1 crore, reflecting Pune’s evolution into a premium housing market.”
Mr. Abhishek Kiran Gupta, CEO, CRE Matrix, emphasized:
“Pune’s housing market is undergoing a transformation, with homebuyers opting for larger, more spacious properties. Our report highlights that **units priced between ₹1 crore and ₹2 crore have witnessed the highest growth in value, showing strong buyer confidence and an evolving premium housing segment.”
Market Challenges & Future Outlook
During the event, Mr. Rahul Ajmera presented insights on ‘Real Estate Trends & Analysis’, noting that new project launches in Pune have declined by 25% due to delays in approvals, land acquisition issues, and regulatory constraints. This has limited homebuyer options and intensified competition among developers.
Despite these challenges, Pune’s real estate market is poised for sustained expansion with rising industrial growth, infrastructure development, and increasing migration trends. The demand for premium housing is expected to strengthen Pune’s reputation as India’s most dynamic real estate destination.
About CREDAI Pune Metro
Established in 1982, CREDAI Pune Metro represents over 2,000 member developers, working to support and shape the real estate sector through policy advocacy, training, and industry workshops. The association remains at the forefront of providing market insights and regulatory updates to its members.
Media Contact:
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