Housing Sales Nearly Double In Mumbai And Pune Post-COVID: Report | Real Estate News

Post-COVID Housing Boom in India Spurs ₹70,000 Cr Affordable Housing Plan

Metropolises, including Mumbai and Pune saw a rise in housing sales growth post-COVID, with total annual sales nearly doubling to 1.05 lakh units between 2022 and the first six months of 2025, compared to 46,528 units between 2016 and 2019, according to a joint report by JLL and NAREDCO as quoted by DD News.

Mumbai experienced capital appreciation of approximately 28 percent between 2019 and the first half of 2025, with the highest growth rate of over 10 percent in 2023, the report added. Premium housing has increased from 43 percent to 59 percent of total launches in Maharashtra between 2022 and the first half of 2025.

In response to the rapid premiumization of the market, policymakers have announced an investment plan worth Rs 70,000 crore with the goal of building 3.5 million affordable homes by 2030, while new outskirts are emerging as alternatives to expensive city centers.

Karan Singh Sodhi, Senior Managing Director (Mumbai MMR and Gujarat) and Head-Alternatives, JLL India, said, “Premium housing has increased from 43 percent to 59 percent of total launches in Maharashtra between 2022 and the first half of 2025, while affordable homes priced below ₹50 lakh have declined from approximately 15 percent to only 12 percent.” He added that the ‘My House, My Right’ policy addresses the supply and capacity gap through investments of approximately ₹70,000 crore, with a target of 3.5 million EWS/LIG homes by 2030.

Premium housing dominates new launches, but this shift has spurred a comprehensive policy response to ensure inclusive growth.

The initiative leverages AI-driven transparency through the State Housing Information Portal (SHIP) and integrates with government platforms like MAHARERA and PM Gati Shakti. While premium housing continues to dominate new launches, this trend has prompted a comprehensive policy response aimed at promoting inclusive growth.

India’s major metros are witnessing a significant transformation in urban development, with emerging affordable housing corridors acting as key drivers of sustainable and inclusive growth.

According to the report, the declining share of homes accessible to the general public in recent launches highlighted the urgent need for targeted interventions. This led to landmark affordable housing initiatives designed to bridge the gap and promote equitable urban growth.

Prashant Sharma, President of NAREDCO Maharashtra, said, “The Maharashtra State Housing Policy 2025 comes at a crucial juncture, where our housing market is growing at an unprecedented pace, but it still faces challenges in affordability and inclusivity.” He added, “By prioritizing ‘My Home, My Rights’ as its core spirit, this policy not only promises to achieve housing goals but also reshapes Maharashtra’s urban future, making it more equitable, sustainable, and inclusive for generations to come.”

(With IANS Inputs)