Pune’s residential real estate market has entered 2025 on a strong growth trajectory, building on the momentum of previous years. The city’s growing status as a corporate hub continues to increase housing demand. Affordability, better infrastructure development, and improved connectivity remain key factors influencing homebuying decisions.
Pune’s overall residential market saw significant growth in 2024. The average housing price reached a historic high of ₹6,590 per square foot, reflecting an 11% annual increase. This price appreciation was accompanied by record home sales of 90,127 units during the year, as reported by Gera Developments.
Commenting on this Mr Shashank Vashishtha, Managing Director, Exp Realty India said, “The Pune real estate market has consistently demonstrated its resilience and potential, and the latest Gera report is a testament to its meteoric rise. An 11% surge in housing prices in 2024, reaching an all-time high, signifies not only the growing demand but also Pune’s evolving stature as a premier real estate hub in India. This growth trajectory is fueled by the city’s unique blend of affordability, robust infrastructure development, and a thriving job market. Pune’s ability to strike a fine balance between residential and commercial real estate growth further enhances its appeal, especially for those seeking long-term, sustainable returns. As one of the most vibrant and dynamic real estate markets in the country, Pune is poised to shape the future of urban living in India, solidifying its position as a top choice for real estate investment.”
Traditionally known for attracting value-conscious buyers, the city is now witnessing an unprecedented demand for luxury residences priced at Rs 3-4 crore and above. The surge in luxury housing demand is fueled by Pune’s diverse economic base, which includes technology, financial services, and manufacturing sectors. These industries have expanded the buyer pool beyond high-net-worth individuals (HNIs) and non-resident Indians (NRIs), drawing in a new generation of affluent homebuyers.
Unlike in the past, when luxury developments were concentrated in Koregaon Park, Kalyani Nagar, and Baner, premium housing projects are now emerging in areas like NIBM Road in Kondhwa and the IT hub of Hinjawadi. The ongoing expansion of the Pune Metro and the development of the Pune Ring Road have further boosted demand in these locations.
According to a CBRE report, Pune recorded the sale of 825 luxury apartments in 2024, more than doubling the 400 units sold in 2023. However, new supply has not kept pace with this demand, with only 295 units launched in 2024 compared to 390 units in 2023. Developers are responding cautiously, strategically planning their future projects to capitalize on the sustained appetite for high-end residences.
One of the standout projects in Pune’s luxury real estate segment is The Ark by Tribeca Developers. As the only officially licensed partner of Trump Towers in India, Tribeca has cemented its presence in the premium housing market. The Ark, featuring six meticulously designed towers, has gained significant traction, with its final tower, Cullinan, achieving 40% sales within just 30 days. A defining highlight of The Ark is its 2.75-acre rooftop terrace, the largest in India, which offers over 25 world-class amenities. These include a half-Olympic-size infinity pool, a 10,000 sq. ft. children’s play area, indoor and outdoor gyms, a Zen Garden, a sky bar, and a multi-cuisine restaurant.
Girish Kamble, CEO – West, Tribeca Developers “At Tribeca, our experience in Pune has taught us that the city’s demand for high-quality housing continues to evolve in tandem with its growing urban infrastructure and thriving corporate ecosystem. In early 2024, we witnessed this firsthand when we launched the final tower of our luxury project, The Ark, selling 40% of the inventory within just a few weeks. Pune’s real estate market has shown remarkable resilience, with average housing prices reaching an all-time high in 2024, reflecting a double-digit growth. Over the past five years, the city has consistently demonstrated a 40% price appreciation and a robust absorption of over 85,000 homes annually. This performance firmly establishes Pune as a preferred destination for discerning homebuyers seeking both value and quality.”
Further expanding its footprint in Pune, Tribeca recently announced a partnership with Serianee Corrp to develop a landmark mixed-use project in Lullanagar. Spanning 3 acres, this ambitious development will feature two iconic towers along with premium retail spaces, covering a total development area of 8 lakh square feet and targeting estimated net sales exceeding INR 1,000 crores.