Disclaimer:
With 11+ years of experience & expertise in the real estate industry, Homebazaar provides end-to-end property-buying solutions. Hundreds of 100% verified RERA-registered residential & commercial properties are listed on our website. We provide facilities like Zero brokerage, 360° virtual street view, effortless site visit services, end-to-end property buying agreements & documentation guidance, and low-interest home loan assistance. This helped us gain the trust of 55,000+ clients across India & sold 6,500+ homes of top reputed developers.
Page Contents [hide]
Mumbai Real Estate Vs Pune Real Estate Comparison
Source: Knight Frank Research Report
Mumbai is the economic might whereas Pune is the ‘Oxford of the East’. Between Mumbai vs Pune City, one provides a high-tech cosmopolitan lifestyle while the other provides a calm and relaxing lifestyle. Mumbai is a well-developed metropolis and Pune is also not an exception. It is developing rapidly.
Being the economic hotspot of India, Mumbai drives great residential demand due to its efficient infrastructure, smooth connectivity, and an array of employment opportunities.
Pune is the flourishing IT corridor of Maharashtra. The presence of IT companies and upcoming metro connectivity have attracted numerous working professionals to the city.
As mentioned in the Knight Frank H1 Report, Mumbai City has witnessed 16% YoY sales growth with 47,259 units sold against 46,985 launches. On the other hand, Pune has witnessed 13% YoY sales growth in H1 2024 with 24,525 units sold against 28,047 launches.
Note:
Homebazaar serves homebuyers searching for flats in Mumbai with end-to-end services like site visits, and lower-interest home loans to property registration guidance. We provide the best price options & offers for 1 to 4 BHK RERA-registered flats, villas & penthouse properties in Pune. To begin a smooth homebuying journey with us, fill out the form mentioned below or on the right side.
Mumbai Vs Pune City Housing Price Trends
Mumbai Real Estate Price Trends
Mumbai has experienced a surge in the demand for high-segment homes. In Q3 2024, Mumbai constituted 32% of total shares in the country. The properties in Mumbai witnessed price growth of 5%.
As per the Cushman and Wakefield report, around 72,951 units were launched in 2024 in Mumbai. The city will continue to keep up the momentum in 2025 with a deliberate increase in new launches and sales.
The average price rate in Mumbai is around ₹ 52,800 per sq. ft. There was up to 29% YoY growth in the average property price with the demand driven by Thane, Navi Mumbai, and Eastern Suburbs.
Pune Real Estate Price Trends
Source: https://websitemedia.anarock.com/media/Pune_Q3_2024_a44e1efed9.pdf
With the robust sales volume in H1, there was a 12% YoY growth in the Pune residential market. The sales momentum also increased property prices by 4% in Q3 2024.
The Pune residential market witnessed record-breaking sales of 24,525 units in H1, according to Knight Frank H1 residential report. Pune was the fourth-largest market with new launches among the top 7 major cities in India.
The average property rate in Pune stands at ₹ 15,000 per sq. ft. The East and North markets in Pune are accelerating the price growth with high-end launches led by top builders in Pune such as Kolte Patil Developer, Godrej Properties, VTP Realty, Lodha Group, etc.
Popular Micro Markets In Mumbai Real Estate
The Eastern Corridor, Thane, Navi Mumbai, and Peripheral Central Suburbs are augmenting the realty growth in Mumbai. Eastern Suburbs, Central Suburbs, and its peripheral areas have contributed to major residential project launches.
On the other hand, Thane and Navi Mumbai have significant contributions to the overall property sales by the end of 2024. Thane, Powai, and areas near BKC are experiencing a major surge in demand due to explicit employment opportunities.
Navi Mumbai, Central Suburbs, and Western Suburbs witnessed a 5% YoY increase in the price whereas Thane witnessed a 4% price growth.
Popular Micro Markets In Pune Real Estate
Pune real estate has been a higher preference due to its growing commercial and IT corridor. West Pune constitutes most launches and sales, owing to its proximity to the commercial zones. Baner, Hinjewadi, Balewadi, Ravet, and NH-4 Bypass are gaining traction.
Hinjewadi solely contributed to 50% of total new project launches. The properties in the East submarket like Viman Nagar, Kalyani Nagar, and Kharadi saw rising demand. The proximity to the airport and the presence of commercial landmarks have made them a preferred choice for homebuyers.
The East market constitutes 28% of the total market share with 2,886 units launched in Q4.
Mumbai Real Estate Rental Trends
Source: Cushman and Wakefield india–mumbai–residential-q4-2024-final.pdf
The rental values in Mumbai real estate increased by a 5% YoY basis, primarily in the suburbs of the city. Since the Metro 3 Phase 1 began its services in October 2024, the rental demand for the properties around Aarey Colony and BKC has risen to a greater extent.
Navi Mumbai, most specifically, Panvel witnessed a surge in rental demand. Navi Mumbai saw a 3% increase on a quarterly basis and around a 5% YoY increase in rental values.
This is mainly due to an end number of housing options, ambitious infrastructure, and the upcoming Navi Mumbai International Airport. The airport will commence passenger services by May 2025, uplifting the overall residential market of Mumbai and its suburbs.
Pune Real Estate Rental Trends
Source: Cushman and Wakefield india–pune–residential-q4-2024-final.pdf
Along with the new launches and rising sales in Pune, the city’s rental market is also on an uptrend. The regions near IT corridors and commercial developments are gaining more attention.
The properties near Nagar Road with a significant foothold of commercial and IT hubs gained 12% YoY growth. As per Cushman and Wakefield, the rental value at Nagar Road is estimated between ₹ 55,000 – ₹1,80,000.
Similarly, the rental value in Pune North is estimated between ₹ 22,500 – ₹ 47,000. Due to the emergence of IT corridors and office developments in North and East Pune, the rental value is poised to increase significantly in the next year.
Mumbai Vs Pune City, Which City Offers Excellent Connectivity?
Mumbai
Mumbai has a great network of connectivity with an array of transit options. One can choose from suburban railways to metros. Roadways, railways, waterways, metros, and airways are seamlessly available for the residents.
The Central Suburbs and its peripheral regions also have the service of monorail. The prime advantage of this medium is it connects the untouched areas of the city with other transport mediums. The arterial areas of Wadala, Chembur, and Dadar are connected via this medium.
Every zone in Mumbai has its dedicated suburban railway line such as Central, Harbour, Western, and Trans-Harbour. The train fare is minimal and recently the state has also added AC trains to the service.
The metro services in Western suburbs link the citizens to the key commercial areas along the route. There are various under-construction and proposed metro routes in Thane, Eastern Corridor, and Central Suburbs.
The Bandra Worli Sea Link and Atal Setu are serving the connectivity needs between South Mumbai and Western Suburbs & Mumbai and Navi Mumbai, respectively. These sea links offer smooth and short travelling without any traffic hurdles.
Apart from this, the localities of Mumbai city are well-connected via the Eastern Express Highway, Western Express Highway, and Eastern Freeway. The CSM International Airport currently serves the residents and is easily accessible via any transport medium.
Pune
Though Pune also has a smooth web of transit networks, it is still less advanced than Mumbai. Pune city offers broader connectivity via the major routes namely, Pune Bangalore Highway, Mumbai Bypass Road, Pune Ahmednagar Road, etc.
North Pune is effortlessly connected with the core areas of the city via the railway line. It also connects you with the Pune railway station, enabling outstation travelling via railway.
The 128-km long under-construction ring road has stimulated the growth of Hinjewadi in terms of sales and livability. There are many upcoming metro stations in the vicinity of Hinjewadi.
The Purple Line and Aqua Line of Pune Metro are already in service. Metro connectivity integrates the North, West, and South Pune. The current and upcoming metro lines are beneficial for working professionals residing on the outskirts or peripheral areas of Pune city.
Pune International Airport is based in the centralised location of the city. It is easy to reach via public transport or a short drive. Pune City offers a good frequency of buses from major to arterial locations.
The traffic congestion in Pune is less as compared to Mumbai City. It is only during the prime time or office hours.
Ease Of Living In Pune City Vs Mumbai City
Which city is more livable, Mumbai or Pune?
Known as the financial capital of India, Mumbai is a fast-paced city. It never sleeps and is always active. People here are consistently working for their livelihood. From slum dwellers to billionaires, Mumbai City is home to every economic strata.
Pune is a slow-paced city with a laid-back lifestyle. The region is still developing and the migration in Pune is low as compared to Mumbai. The city is experiencing an increasing population of working-class and IT professionals.
Mumbai offers exciting nightlife whereas it is limited to some extent in Pune. Thus, it is safer in Mumbai during the night than in Pune. One can easily use autos or cabs and even Mumbai trains run till midnight.
Law enforcement is much stronger in Mumbai than in Pune and police keep patrolling at night. Though crime rates are a bit higher in Mumbai than in Pune, it is still the safest in terms of prompt action and redressal during emergencies.
Also Read: Mumbai vs Chennai City Real Estate
Which city offers good infrastructure, Mumbai or Pune?
Mumbai is exceptionally developed in all terms compared to Pune. It presents solid social and economic infrastructure. Expressways, highways, freeways, suburban railway lines, metro sea links, etc., all constitute a perfect base for seamless accessibility.
Pune is known for its education and IT infrastructure. It is home to several renowned universities and engineering colleges. Symbiosis, DY Patil, Bharati Vidyapeeth, and Savitribai Phule University to name a few.
Pune also has an excellent infrastructure in terms of roadways and railways. However, the consistency and efficiency are low compared to Mumbai. The metro service is currently limited to certain parts of the city. Still, there are upcoming metro routes that are under construction.
The civic facilities in Pune are much better than in Mumbai. It has surpassed Mumbai in terms of cleanliness and a cleaner environment. Pune offers a more sustainable environment for living.
Also Read: Mumbai Vs Bangalore Real Estate
Which city has great employment opportunities, Mumbai or Pune?
Mumbai offers an extensive job landscape. It is the foundation of the thriving entertainment industry in the country. Educational institutions and corporations provide opportunities in media, marketing, advertising, films, etc.
Pune leads the cultural foundation. Apart from this, it is known for its IT hubs and manufacturing industries. The explicitly growing IT infrastructure in Pune is the main reason for migration in the city. People from all over India are migrating here for lucrative job opportunities.
Comparing both cities, Mumbai has an array of opportunities across various sectors to choose from. There are limitless opportunities and the job market is also dynamic.
What is the cost of living in Pune City Vs Mumbai?
The cost of living in Mumbai is always higher than in Pune. Due to limited property options and developed infrastructure, property prices are all-time high in Mumbai. However, the properties in Mumbai assure lucrative price appreciation.
Pune presents premium to luxury housing options. The prime areas of Pune city are booming due to the emergence of IT hubs. The outskirts of Pune comprises affordable properties with larger carpet sizes.
The rental values are high in the prime areas of Mumbai while the peripheral regions offer reasonable rental values. The rental values are poised to increase in the coming years.
The lifestyle in Mumbai is comparatively better to maintain than in Pune. However, public transport in Mumbai is cheaper and easily accessible.
Also read: Mumbai City vs Hyderabad Real Estate
Which city has good investment potential, Mumbai or Pune?
The upgraded lifestyle, robust infrastructure, and smooth connectivity make Mumbai an ideal investment destination. The rising housing demand in Pune is also an outcome of metro connectivity and commercial developments.
The metro and rail corridors are driving the major demand in Mumbai and Pune. The ongoing development of Pune Ring Road is stimulating real estate growth in North Pune. Affordability is an advantageous factor for Pune city than Mumbai.
The saturated market of Mumbai provides greater rental yields than Pune. These properties are also located within the nearest radius of the railway station or metro station. Similarly, the periphery or outskirts of Pune are gaining momentum with the increasing number of office developments.
Builders in Pune are exploring the key areas in North Pune and around NH-4 Bypass. These areas are mostly preferred by middle-class and upper-middle-class individuals due to their reasonable property prices.
Top Projects In Mumbai City
Some of the popular projects by the renowned builders in Mumbai City are given below:
Top Projects In Pune City
These are the top preferred properties in Pune among working professionals:
FAQs
| What is the average property value in Pune City?
The average property value in Pune City is around ₹ 15,000 per sq. ft. |
| Which are the top builders in Mumbai City?
The top builders in Mumbai include the House of Hiranandani, Lodha, Kalpatau, MICL, Piramal, Raheja Universal, Godrej Properties, K Raheja Corp, etc. |
| Which city will give the best rental yields between Mumbai vs Pune City?
Mumbai gives lucrative rental yields due to its consistent price appreciation, robust infrastructure, and impeccable connectivity. The commercial hubs in Mumbai are also leading to the growth in rental values. |
| Which are the popular builders in Pune?
Some of the reputed builders in Pune are Gera, Nyati, VTP Realty, Kolte Patil, Lodha, Godrej Properties, Kohinoor, etc. |
| What is the rental value of properties in Pune City?
The rental value of properties in Pune ranges between ₹ 13,000 – ₹ 2,00,000. It varies according to the location, carpet size, and project type. |
