Pune Emerges as India’s Most Affordable and Preferred Metro City in Real Estate Market, Registers Over Rs. 28,000 Crore in Sales in the First Half of 2023
Pune has now become the top choice for real estate investments among metro cities in India, offering affordability and robust growth, according to the CRE Matrix Report released by CREDAI Pune Metro. The report’s findings were presented during the Members Assistance Meeting at the CREDAI Pune Metro Auditorium, shedding light on various aspects of Pune’s real estate landscape.
The report was presented by Abhishek Gupta, CEO of CRE Matrix, and Rahul Ajmera, a Data Analyst. The presentation was attended by several members, including Kapil Gandhi, Convener PR, Abhishek Bhatewara, Managing Committee Member, and Dr. D K Abhyankar, Director General of CREDAI Pune Metro.
Ranjit Naiknavare, President of CREDAI Pune Metro, expressed his satisfaction with the report and stated, “I am glad to share that CREDAI Pune Metro, in collaboration with CRE Matrix as a knowledge partner, has compiled this authentic report using registration data and RERA data to provide conclusive information.”
The latest report highlights Pune as India’s most affordable and fastest-growing real estate market among all metro cities in terms of units sold during the period from January to June 2023. Pune’s housing market in H1-2023, excluding re-sales, recorded sales of over 45,000 units, amounting to more than Rs. 28,000 Crore in value. This represents a remarkable 90% growth compared to H1-2019, showcasing Pune’s exceptional performance in the real estate sector over the past four years.
Abhishek Gupta, CEO of CRE Matrix, commented on the report’s findings, stating, “Pune has capitalized on the favorable market conditions, concluding H1 CY’23 with a 40% surge in total sales compared to H1 CY’19. Pune city recorded its highest-ever sales of 45,162 primary housing units between January 2023 and June 2023, compared to approximately 32,250 housing units sold in the January 2019 to June 2019 period, before the COVID-19 pandemic.” Additionally, “The average price of a housing unit sold in Pune in H1-2023 was Rs. 63 lakhs, a 37% increase compared to H1-2019, indicating a trend of increasing average sizes and prices of homes.
Units priced above ₹1 Crore have experienced a sales increase of 250% during H1 CY’23 compared to H1 CY’19.”
