Flats Under 1 Crore for sale in Near St Tukaram Nagar Mamurdi, Mamurdi, Pune

After Mumbai, Pune is one of the leading cities when it comes to residential real estate. As per an Anarock report, Pune is the 3rd highest city to witness the most housing sales among the top 7 metro cities in India in 2022. 

The East, South, & West micro markets of Pune usually garner a large demand in residential housing. This is mainly due to the presence of large IT parks in these locales, which attract working professionals in search of a home near these workplaces. 

Sales in the affordable housing market are usually at 50%, while the mid-segment market has seen a significant rise in properties in Pune. In 2022, a large part of the housing sales in Pune were in the ₹45-75 lakhs price range. Sales in the luxury housing sector (above 1 crore) have seen a recent rise as well. 

The aftermath of the pandemic had seen developers being cautious in releasing supply of new units. However, there was a massive rise in launch of units in the 4th quarter of 2022, which witnessed more than 150% YoY growth as compared to 2021. The inventory overhang was also one of the lowest in Pune in 2022.

In configuration type, the demand is higher for 2 BHK homes, especially in well-known micro markets such as Wakad and Kharadi. However budget wise, the demand for 1 BHK is higher for flats within ₹40 lakhs. Overall, the gap in demand and supply of properties in Pune is quite less, while the residential sales are doing well amid developer offers and government schemes.