Pune: The upcoming festive real estate season is shaping up to be less about a surge in new project launches and more about a definitive shift toward larger, premium homes. Developers are increasingly targeting upper-mid and luxury segments, with properties priced between Rs80 lakh and Rs1.5 crore commanding a growing share of the new supply as buyers aggressively seek higher-square-footage apartments.“Even though we are a family of four, everyone needs their own space,” said Nisha Kamdar, a resident of Hadapsar. “We are planning to book a 4 BHK home of over 2,000 sqft because the society includes its own gym, spa, and premium facilities.” For others, expanding families are driving the upgrades. “My daughter recently had a baby, and we have lived in a 2 BHK for many years,” said Kalyaninagar resident Rajendra Dhariwal. “With my son getting married next year, our family is growing, so we will be booking a 4 BHK this Diwali.”Amenity-rich projects and high-value corridors like Baner-Mahalunge, Kharadi, Wakad, Punawale, and Tathawade are seeing the highest traction this season. “We anticipate a jump of approximately 40,000 to 45,000 new residential units launching during the 2026 festive months,” said Anand Agarwal, MD of Ceratec Group. “The supply dynamics have fundamentally changed since 2025. Last year featured smaller, standalone launches reliant on typical festive waivers. This year, the focus has pivoted toward integrated community developments. There is a powerful inclination toward 3 and 4 BHK units that offer spacious environments within lifestyle-enriching societies.”Ritesh Mehta, senior director and head (west, north and east, residential services & developer initiatives) at JLL, noted that continued developer confidence is keeping the market highly active. “Compared to last year’s festive period, launches are expected to be around 5% to 7% higher, indicating healthy demand in the Pune residential market. Notably, the share of 3+ BHK launches is estimated to be 8% to 10% higher than last year.” Mehta added that buying activity is particularly concentrated in East Pune, with developer-backed subvention schemes, flexible payment plans, and white-good offers serving as key incentives.However, execution is increasingly consolidating into fewer hands. “A total of 22 residential projects are slated for launch in Pune this festive season,” said Saurabh Garg, co-founder and CBO of NoBroker. “While launch volumes remain stable—shifting marginally from 24 projects in 2025 to 22 in 2026—the pipeline is heavily driven by top-tier players who command stronger buyer confidence. “This flight to premium quality is directly impacting transaction values. According to the July 2026 Pune housing report by CRE Matrix and CREDAI Pune, the average home sold in Pune now commands Rs84 lakh—a 40% surge over the last four years. Meanwhile, sales of luxury homes priced above Rs2 crore have skyrocketed by 220%. “This is clear evidence of buyers upgrading with confidence,” stated Manish Jain, president of CREDAI Pune.Price appreciation remains steady across the city. “Average residential prices in Pune stand at approximately Rs8,300 per sqft as of the end of H1 2026,” said Dr Prashant Thakur, executive director & head of research and advisory at ANAROCK Group. “This represents a modest 5% yearly growth from the Rs7,875 per sqft recorded at the end of H1 2025, which itself was a 6% increase from H1 2024.”Input pressures are also contributing to the pricing floor. “Prices have moved up across all segments primarily because construction costs, land values, and overall input expenses have increased,” said Sachin Bhandari , executive director & CEO of VTP Realty. Optimistic about demand, Bhandari added, “We have a strong launch pipeline with three new projects planned for the festive season. This momentum will continue well beyond the holidays as we break into several new micro-markets, including Keshavnagar and Tathawade.”
