Rs 361+ Crore Diwali Sales Mark Growing Buyer Interest in Mumbai and Pune Real Estate

With 243 units sold over 1.60 lakh sq. ft. carpet area, The Guardians Real Estate Advisory showcased strong Diwali week demand across Mumbai and Pune

Mumbai, November 12, 2024: The Guardians Real Estate Advisory has achieved a festive-season milestone, selling 243 units, covering 1.60 lakh sq. ft. of carpet area across Mumbai Metropolitan Region (MMR) and Pune during this year’s Diwali week, achieving sales turnover of over Rs 361 crore. This record-breaking performance highlights the festive season’s growing influence on the real estate market, signalling robust buyer sentiments and resilience in both residential and commercial segments. The units were sold across several zones, with 38 in SOBO, 58 in Central & Thane, 46 in the Western region, 85 in Kalyan Dombivli Municipal Corporation (KDMC) & Navi Mumbai, and 16 in Pune, collectively contributing to the record-breaking achievement.

Diwali, traditionally a time for family gatherings and celebrations, has long been associated with gold purchases, with Indians investing heavily in the precious metal during the festival. However, in recent years, the trend has moved towards real estate too as a preferred investment choice. The Guardians’ festive performances add to this momentum. The company earlier this year reported Rs 515 crore in sales on Akshay Tritiya and Rs 350 crore during Dussehra, establishing a clear trend that auspicious days are now critical for real estate transactions.

As per recent reports, residential sales in Mumbai exceeded 24,000 units in Q3 2024, representing a 9% increase year on year and highlighting the market’s robust fundamentals. Furthermore, the city received 105,000 property registrations in the first nine months of 2024, an unprecedented 12% rise over the previous year. These data demonstrate purchasers’ trust in Mumbai’s property market, which is fuelled by factors such as low financing rates, significant infrastructural development, and increased demand from Non-Resident Indians (NRIs).

Mr. Ram Naik, Director and Co-founder of The Guardians Real Estate Advisory said, “In today’s scenario, real estate is becoming a sign of stability and long-term prosperity, rather than just an asset class. Buyers are taking advantage of the auspiciousness of the holiday season to make purchases based on emotional significance as well as financial forethought. The buyer’s profile is what makes this Diwali particularly notable. We’re seeing a combination of end users and investors who are more knowledgeable, selective, and strategic. This is more than just purchasing a home; it is about establishing a future.”

As real estate market continues to grow, The Guardians are optimistic about future prospects. This latest achievement reinforces MMR’s position as a preferred destination for real estate investments, even in fluctuating economic conditions. The Diwali’s success isn’t just a financial milestone; it’s an indicator of property market’s long-term stability and attractiveness for homebuyers and investors alike.

Corporate Comm India (CCI Newswire)