Mumbai, Pune see housing sales double to 1.05 lakh units in 2022-H1 2025; Share of affordable housing declines: Report
Premium housing launches in Mumbai and Pune have risen from 43% to 59%, while affordable housing has declined, prompting development of new peripheral clusters
Housing sales in Mumbai and Pune nearly doubled post-COVID, rising from 46,528 units in 2016–2019 to 105,332 units between 2022 and H1 2025, according to a joint report by JLL and NAREDCO released on September 26. The financial capital saw around 28% capital appreciation during this period, with peak growth exceeding 10% in 2023, while Pune recorded gains of approximately 20%, a report has said.
The share of premium housing ( ₹1 crore and above) surged from 43% to 59% of launches in the two cities. However, mass housing (under ₹1 crore) fell from 57% to 40%, and affordable housing (under ₹50 lakh) dropped from 15% to 12%, highlighting the need for targeted policy measures, said the JLL-NAREDCO report titled ‘Towards Housing for All in Maharashtra - The 2025 Policy Blueprint’ released at the 4th edition of The Real Estate Forum 2025 held in Mumbai on September 26.
In response, policymakers have announced a ₹70,000 crore plan to deliver 3.5 million affordable homes by 2030, with new peripheral clusters emerging as cost-effective alternatives to expensive city-center locations, it said.
“The 'My House, My Right' policy addresses this supply-affordability gap through an estimated ₹70,000 crore investment targeting 3.5 million EWS/LIG homes by 2030, emphasizing inclusivity, sustainability, and reliability. The initiative leverages AI-powered transparency via the State Housing Information Portal (SHIP) and integrates with government platforms like MahaRERA and PM Gati Shakti. This is a step in the right direction and towards a better tomorrow,” said Karan Singh Sodi, Senior Managing Director (Mumbai MMR & Gujarat) and Head-Alternatives, India, JLL.
“The Maharashtra State Housing Policy 2025 serves as an economic transformation blueprint that leverages data-driven governance and comprehensive housing strategies to create new markets. It establishes a balanced incentive framework for stakeholders, providing developers with 2.5 FSI for senior housing, 15% commercial FSI for student housing, and 1% GST across all segments,” said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
{{/usCountry}}“The Maharashtra State Housing Policy 2025 serves as an economic transformation blueprint that leverages data-driven governance and comprehensive housing strategies to create new markets. It establishes a balanced incentive framework for stakeholders, providing developers with 2.5 FSI for senior housing, 15% commercial FSI for student housing, and 1% GST across all segments,” said Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
{{/usCountry}}“The Maharashtra State Housing Policy 2025 arrives at a critical juncture when our residential markets are experiencing unprecedented velocity yet facing deep structural challenges in affordability and inclusivity. By prioritizing 'Majhe Ghar, Majhe Adhikar' as its guiding sentiment, this policy doesn't just promise housing targets, it reshapes Maharashtra's urban future, making it more equitable, sustainable, and inclusive for generations to come,” said Prashant Sharma, president, NAREDCO Maharashtra.
Affordable housing corridors
{{/usCountry}}“The Maharashtra State Housing Policy 2025 arrives at a critical juncture when our residential markets are experiencing unprecedented velocity yet facing deep structural challenges in affordability and inclusivity. By prioritizing 'Majhe Ghar, Majhe Adhikar' as its guiding sentiment, this policy doesn't just promise housing targets, it reshapes Maharashtra's urban future, making it more equitable, sustainable, and inclusive for generations to come,” said Prashant Sharma, president, NAREDCO Maharashtra.
Affordable housing corridors
{{/usCountry}}Mumbai’s metropolitan region shows potential through four planned affordable housing corridors, each supported by infrastructure investments and enhanced connectivity. These include the Navi Mumbai Corridor (Panvel–Ulwe–Karanjade), the Thane Development Zone (Ghodbunder Road–Bhayandar Pada), the Vasai-Virar Growth Belt (Nalasopara–Naigaon), and the Kalyan-Dombivli Hub, the report said.
Pune follows a four-directional growth model, leveraging data-driven planning to create specialized economic zones while maintaining affordability, it noted.
The corridors include the Northern IT Integration Zone (Moshi–Chakan–Punawale) which is close to established IT corridors, reducing commute times by 40–60%. North-Eastern employment corridor (Wagholi–Charholi Budruk–Wadgaon Shei) that includes rapidly expanding employment centers with annual job growth exceeding 25%. The South-Western planned communities (Dhayari–Wadgaon Budruk) that are designed with planned amenities and infrastructure for residential growth and the South-Eastern infrastructure-ready markets (Handewadi–Autadwadi–Undri), it said.
