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Pune's residential real estate market continued its strong growth in 2025, driven by affordability, infrastructure development, and a thriving job market. In 2024, home prices rose 11% YoY to INR 6,590 per sq. ft., with 90,127 units sold. The demand for luxury housing (INR 3-4 crore+) surged, fueled by Pune's technology, finance, and manufacturing sectors. Luxury sales more than doubled to 825 units, but new supply lagged at 295 units. Premium housing is expanding beyond Koregaon Park and Baner to NIBM Road and Hinjewadi, boosted by Pune Metro and Ring Road developments.
Pune's residential real estate market has entered 2025 on a firm growth trajectory, continuing the momentum it built over previous years. The city's rising status as a corporate hub has continued to drive housing demand. Key factors such as affordability, enhanced infrastructure development, and improved connectivity have remained instrumental in influencing homebuying decisions. Advertisement
The city's overall residential market experienced noteworthy growth during 2024. The average housing price reached an unprecedented high of INR 6,590 per square foot, reflecting an annual increase of 11%. This appreciation in prices was accompanied by record-breaking home sales, with 90,127 units sold over the year, as reported by Gera Developments.
Commenting on the market's performance, Mr Shashank Vashishtha, Managing Director of Exp Realty India, stated that Pune's real estate sector had consistently showcased its resilience and potential. He mentioned that the latest Gera report was evidence of the city's meteoric rise, as an 11% surge in housing prices during 2024 brought rates to an all-time high. He further noted that this not only indicated growing demand but also underscored Pune's evolving status as a premier real estate hub in India.
According to him, this growth was being fuelled by Pune's unique combination of affordability, robust infrastructure development, and a thriving job market. He added that the city's ability to strike an ideal balance between residential and commercial real estate growth has further strengthened its appeal, particularly for those seeking long-term and sustainable returns.
Traditionally known for attracting value-conscious buyers, Pune has now witnessed an unprecedented surge in demand for luxury residences priced above INR 3-4 crore. This upsurge in demand for luxury housing has been driven by the city's diverse economic base, which includes the technology, financial services, and manufacturing sectors. The growth in these industries has expanded the buyer base beyond high-net-worth individuals (HNIs) and non-resident Indians (NRIs), drawing in a new generation of affluent homebuyers.
Unlike in earlier times when luxury developments were primarily concentrated in Koregaon Park, Kalyani Nagar, and Baner, premium housing projects are now emerging in locations such as NIBM Road in Kondhwa and the IT hub of Hinjewadi. The ongoing expansion of the Pune Metro and the development of the Pune Ring Road have further amplified demand in these areas.
According to a report by CBRE, Pune recorded the sale of 825 luxury apartments during 2024, more than doubling the 400 units sold in 2023. However, new supply has not kept pace with this escalating demand, with only 295 units launched during 2024 compared to 390 units in the previous year. Developers have adopted a cautious approach, strategically planning their future projects to leverage the sustained appetite for high-end residences.
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