COVER STORY/ECOSYESTEM
Pune Emerges as India's Most Affordable and Preferred Metro for Real Estate with Over Rs. 28,000 Crore in Sales during H1 2023
Pune has solidified its position as the top choice for real estate investments in India, standing out as the most affordable among metro cities, according to the recently unveiled CRE Matrix Report by CREDAI Pune Metro. This comprehensive report was presented during the Members Assistance Meeting at the CREDAI Pune Metro Auditorium, shedding light on various aspects of Pune’s real estate landscape.
Pune Emerges as India's Most Affordable and Preferred Metro for Real Estate with Over Rs. 28,000 Crore in Sales during H1 2023
The report was jointly presented by Abhishek Gupta, CEO of CRE Matrix, and Rahul Ajmera, Data Analyst. Notable attendees at the event included Kapil Gandhi, Convener PR; Abhishek Bhatewara, Managing Committee Member; and Dr. D K Abhyankar, Director General, all representing CREDAI Pune Metro.
Ranjit Naiknavare, President of CREDAI Pune Metro, expressed his satisfaction with the report, saying, “I am pleased to announce that CREDAI Pune Metro, in collaboration with CRE Matrix as our knowledge partner, has compiled this authentic report based on registration and RERA data, providing definitive insights.”
According to the latest findings, Pune has emerged as India’s most affordable and rapidly growing real estate market among all metro cities, with a remarkable performance in the number of units sold from January to June 2023. During this period, the Pune Housing Market (Primary Sales excluding Re-Sales) achieved sales exceeding 45,000 units, amounting to a total value of over Rs. 28,000 Crore. This staggering growth of 90% over H1-2019 highlights Pune’s exceptional real estate market performance over the past four years.
Abhishek Gupta, CEO of CRE Matrix, commented on the occasion, “Pune has harnessed the favorable market conditions, concluding H1 CY’23 with a 40% surge in total sales compared to H1 CY’19. The city achieved a record-high of 45,162 primary housing unit sales from January 2023 to June 2023, in contrast to approximately 32,250 units sold during the same period in 2019, before the COVID-19 pandemic.”
Furthermore, Gupta added, “The average price of a housing unit sold in Pune in H1-2023 stood at Rs. 63 lakhs, marking a 37% increase from the corresponding figure in H1-2019. This suggests a trend of larger-sized homes at higher prices. Notably, units priced above ₹1 Crore experienced a remarkable 250% surge in sales during H1 CY’23 compared to H1 CY’19.”
Pune’s real estate market is not only thriving but also maintaining its affordability, making it a prime destination for both investors and homebuyers alike.
