Festive Season Propels Real Estate Sales In MMR And Pune

The festive season has delivered a significant boost to the real estate markets of Mumbai Metropolitan Region (MMR) and Pune, with The Guardians Real Estate Advisory reporting a record Rs 1,019 crore in sales turnover. The company sold 638 apartments, spanning over 4.23 lakh square feet of carpet area, underscoring a surge in demand as buyers capitalised on the auspicious period to invest in property.  

Industry statistics reveal a strong performance in October 2024, with property registrations in Mumbai soaring by 22 per cent year-on-year to 12,960 units, compared to 10,607 units in October 2023. High-value properties priced above Rs 2 crore accounted for 22 per cent of all registrations, up from 18 per cent the previous year, reflecting a growing preference for luxury homes.  

Ram Naik, Co-founder and Director of The Guardians Real Estate Advisory, highlighted the cultural significance of festivals for Indian buyers, stating, “Festivals have a profound link with high-value purchases, and this season has reaffirmed the belief in real estate as a long-term investment.”  

Luxury real estate also witnessed heightened interest. Manan Shah, Managing Director of MICL Group, noted that the evolving preference for international-quality finishes and bespoke amenities has fueled demand, particularly in South Mumbai. Meanwhile, the affordable housing sector thrived, with Amit Haware, CEO of Haware Properties, emphasising strong buyer interest due to improved connectivity and infrastructure in MMR.  

The Guardians Real Estate Advisory recorded Rs 515 crore sales during Akshay Tritiya, Rs 350 crore during Dussehra, and Rs 361 crore during Diwali, showcasing the strong association between auspicious occasions and real estate investments.  

As 2025 approaches, the sector anticipates continued momentum, driven by premium projects, festival-day sales, and the evolving appeal of MMR and Pune as key investment hubs.