Pune Housing Market Soars to New Heights in CY’23: A Comprehensive Report on Trends, Growth, and Future Prospects

February 28, 2024 | Indextapadmin

The primary sales performance in the Pune city market for the current year has shown a significant uptick, experiencing a notable 45% growth compared to CY19. The substantial growth of over 250% observed in both the 70 lacs to 1 Cr. and 1 to 2 Cr. segments are particularly noteworthy. This changing scenario indicates a shift towards the luxury segment in housing Pune.

Key Highlights:

1 - Pune's housing market achieved record sales in CY'23, totaling ₹57,412 Cr., marking the highest yearly sales value in the last five years.

2 - Sales volume surged by 45% compared to CY'19, with 89,347 housing units sold in CY'23.

3 - The average selling price of a flat in Pune increased by 37% from ₹45 lakhs in CY'19 to ₹64 lakhs in CY'23.

4 - North-West Pune emerged as a significant contributor, accounting for 31% of the total sales value at ₹17,945 Cr. in CY'23.

• CY’23 witnessed the highest stamp duty collection in this period, reaching ₹3,779 Cr., indicating a notable surge in real estate pune transactions and property values during that year.
• The stamp duty collections from new sales in CY’23 increased by 102% compared to CY’19.
• GST collection from new sales in Pune has surged by 180% in CY’23 compared to CY’19.

• Pune emerges as the front-runner among the listed cities, boasting an impressive sales volume of 89,347 units and is recognised as the fastest growing market in India.
• The impressive ratio in Pune suggests a potential for sustained growth in the real estate sector. Investors and developers may find Pune to be an attractive market for future projects and investments.
• Pune’s supremacy, both in terms of sales volume and migration influx ratio, makes it the standout performer among top cities in India.

• The contribution of the value of units priced above ₹45 lacs has scaled up by 140% from CY'19 to CY'23. 
• The budget segment of 70 lacs to 1 Cr. experienced a notable 250% growth in unit sales value from CY’19 to CY’23. 
• Within the budget segment of ₹ 2 Cr and above, Pune saw a notable increase of 227% in the number of units sold for CY'23 over CY'19.

• A whooping 235% increase of housing units sale is witnessed for ticket size above ₹1 Cr for period CY'23 over CY'19.
• Within the budget segment of ₹ 2 Cr and above, Pune - Central saw a notable increase of 167% in the number of units sold for CY'23 over CY'19.
• The contribution of the value of units priced above ₹45 lacs has scaled up by 132% from CY'19 to CY'23.

• North-East Pune has witnessed an increase of 73% in the value of units sold for CY’23 as compared to CY’19.
• The Pune-North East has experienced a substantial compound annual growth rate (CAGR) of 15% in the total value of the unit sales from CY’19 to CY’23.
• Overall, North-East Pune has clocked a 40% increase in sales of units for CY’23 over CY’19.