Festive Cheer Boosts Real Estate Sales in MMR & Pune, The Guardians Real Estate Advisory Reports Over Rs 1,000 Crore Sales Turnover

The festive season has proven to be beneficial to Mumbai and Pune's real estate markets, with industry statistics and sales numbers indicating a significant increase in buyer activity across the region. The Guardians Real Estate Advisory had the most festive sales turnover of ?1,019 crore in the Mumbai Metropolitan Region (MMR) and Pune. The company reported 638 apartments sold, totaling more than 4.23 lakh square feet of carpet space, indicating increasing demand as buyers seek properties during this fortunate time of year.

According to the latest study, the surge in seasonal property sales is reflective of overall market strength. In October 2024, registrations in Mumbai's property market increased by 22% year on year, to 12,960 units, up from 10,607 units in October 2023. The festival season, particularly Dussehra and Diwali, contributed significantly to these results, reflecting buyers' renewed confidence in both residential and commercial real estate purchases.

In October, Mumbai's high-value properties (priced above ?2 crore) sold 2,876 units, or 22% of all registrations, up from 18% the previous year. This shift towards premium property investments indicates a changing buyer preference for high-end real estate, strengthening Mumbai's reputation as a resilient, in-demand market.

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Ram Naik, Co-founder & Director stated, "Festivals have a profound cultural link for buyers in India, and this year has demonstrated how closely these events are tied to high-value purchases. The holiday season has once again proved that homebuyers regard now as an advantageous time to make long-term investments in high-quality residences. This trend strengthens Mumbai and Pune's position as significant hubs for residential and commercial development."

According to Manan Shah, Managing Director - MICL Group, "Luxury real estate in Mumbai has seen an exceptional response over the past year, and this momentum has only intensified during the festive season. The evolving customer mindset towards luxury, especially in South Mumbai, reflects a sophisticated understanding of the value in high-end real estate. Buyers today not only seek prestigious addresses but also demand international-quality finishes, bespoke fitments, and lifestyle amenities that rival the best globally. At MICL, we’re attuned to these preferences, meticulously focusing on every aspect that defines world-class luxury, and the market’s positive response has been a testament to this commitment. Developers who prioritize uncompromising quality and understand the nuances of true luxury will continue to thrive in Mumbai’s ever-evolving real estate landscape."

Echoing this, Amit Haware, CEO & Joint MD - Haware Properties stated, "This festive season has brought exceptional growth in real estate, particularly in the affordable housing sector, where we've seen strong demand. The dream of homeownership is becoming a reality for thousands of families, thanks to our partnership between Haware Properties and The Guardians. Together, we’re committed to making homeownership accessible, especially in the rapidly developing areas across the Mumbai Metropolitan Region. Enhanced connectivity and infrastructure are fueling this trend, creating promising opportunities for new homebuyers. This isn’t just a seasonal uplift—it’s a promising trajectory we expect to continue for the coming years."

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This trend has been reflected in The Guardians Real Estate Advisory's sales success in 2024. This financial year, the company generated ?515 crore in sales turnover on Akshay Tritiya, ?350 crore during Dussehra, and ?361 crore during Diwali week, showing a regular pattern of auspicious days attracting serious customers. The Guardians' ?1,019 crore sales turnover this season demonstrates buyer confidence in the long-term worth of real estate investments during the festival season.

As the market approaches 2025, the real estate sector anticipates that the festive pace will continue, with premium developments, auspicious-day transactions, MMR, and Pune leading the way.

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