Housing prices for newly launched residential projects in key Maharashtra cities have risen significantly compared to resale properties, reflecting changing buyer preferences and the growing appeal of modern developments. According to a report by 1 Finance Magazine, new homes now command premiums of about 23% in Mumbai, 22% in Pune and 8% in Thane over secondary housing stock.
The research, based on transaction data between 2016 and December 2025, suggests that housing demand is gradually shifting toward newly developed projects offering modern amenities, improved layouts and proximity to emerging infrastructure corridors.
In Greater Mumbai, the premium on new homes has increased sharply over the past decade—from roughly 5% in 2016 to 23% in 2025. Average prices for primary residential units reached approximately Rs 35,602 per sq ft by December 2025, indicating strong demand for redeveloped towers and recently launched projects rather than older buildings.
The difference in pricing is even more pronounced in some micro-markets. In South Mumbai, new homes are priced around 46% higher than resale properties, while the Western suburbs have recorded a premium of nearly 44%. In the Eastern suburbs, the premium increased from just 2% in 2016 to around 30% in 2025, largely due to redevelopment activity and large integrated projects along major transport corridors.
Thane’s property market has also undergone a major shift. In 2016, newly launched projects in the area were priced about 25% lower than resale homes. By 2025, however, new projects were commanding an 8% premium, supported by infrastructure developments such as Mumbai Metro Line 4, new ring road proposals and the growth of township projects connected to Mumbai.
Some micro-markets within Thane have seen sharper increases. Bhiwandi recorded premiums of around 60%, driven by logistics and industrial expansion, while Thane city itself moved from a discount to a premium as buyers increasingly opted for larger and better-planned developments. Data also showed that nearly 97% of new housing launches in late 2025 consisted of 1, 1.5 and 2 BHK units, indicating strong demand from end-users.
Pune has experienced one of the most significant reversals in pricing trends. While resale homes previously commanded higher prices in several areas, by 2025 new projects were priced about 22% higher overall. Central Pune recorded premiums of up to 50%, while growth corridors such as Hinjewadi, Wakad and Wagholi witnessed strong demand due to their proximity to IT hubs and industrial centres.
Analysts noted that Maharashtra’s housing market is undergoing a structural shift, with pricing increasingly influenced by connectivity, infrastructure development and construction quality. As demand continues to favour modern developments linked to transport and employment hubs, the gap between new and resale housing prices may remain wide in the coming years.
Source: Business Today
