Pune Luxury Real Estate Market is Rising Higher & Higher !!

Discover the transformation of Pune luxury real estate to a force to reckon with. Fueled by the IT and automotive sectors, Pune's property market now features high-end apartments, exclusive projects, and record-breaking property deals. From Koregaon Park to emerging suburbs like Viman Nagar and Kharadi, explore with Ghar how Pune luxury real estate is ascending to new luxurious heights

A Historical Perspective

Historically known as the Pensioners' city or the Retirement Hub, Pune was laid-back and calm, catering to the upper middle class at best. The luxury segment was very limited and area-specific, primarily centered in Koregaon Park. Not anymore!

Rapid Development Fueled by IT and Automotive Sectors

In the last five years, Pune has developed at a rapid pace mainly due to the IT Industry and the automotive sector. This growth created additional jobs not only in those sectors but also in all allied industries. There was a significant influx of professionals into Pune, driving the demand for real estate. Infrastructure grew rapidly, including schools, malls, hospitals, hotels, restaurants, and pubs.

The Impact of Work-from-Home Culture

A few years ago, due to the work-from-home culture established during the Covid phase, consumers started preferring larger apartments to accommodate home office setups. Developers responded by adding larger apartments to their portfolio, leading to a realization of the growing market for luxury apartments.

Expansion of Luxury Housing Across Pune

Previously, Koregaon Park was the only micro-market with luxury projects. Now, luxury projects can be seen even in traditionally middle-class suburbs like Kothrud. Emerging micro-markets such as Viman Nagar and Kharadi have also seen new launches in the luxury segment. Areas like Kalyani Nagar, Boat Club Road, Baner, and Balewadi have seen a number of luxury projects in recent years.

Record-Breaking Property Deals

Recently, a leading business daily reported Pune's most expensive property deal worth Rs. 37 crore for a penthouse of approximately 40,000 sq ft. Over the last two years, Pune has seen 32 apartment registrations in the luxury segment valued at Rs. 10 crore or more.

Booming Luxury Real Estate Market

Consider this: There are approximately 20+ luxury real estate projects under construction in Pune. This could be a conservative estimate; it might be more! All these projects feature apartments with a carpet area of over 2000 sq ft, starting at around Rs. 3.5 crore.

Indeed, the Pune luxury real estate market is on a glorious ascension path!