Pune real estate: Property registrations dip by 3% to 11,930 units in May 2025

Stamp duty collections from Pune’s property registrations fell by 4% in May 2025, totalling ₹421 crore compared to ₹440 crore in May 2024

Pune's real estate market reported 11,930 property registrations in May 2025, down by 3% from 12,280 units a year ago. Stamp duty collections dipped by 4% to ₹421 crore in May 2025 from ₹440 crore in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR).

Pune's real estate market reported 11,930 property registrations in May 2025, down by 3% from 12,280 units a year ago, according to data from the Maharashtra Inspector General of Registration. (Representational Image) (Mehul R Thakkar)

On a month-on-month (MoM) basis, May saw a steeper dip, with registrations down 17% from 14,421 units last month and stamp duty collections declining by 23% from ₹547 crore. This marked the lowest monthly registration volume since October 2024, reflecting a possible temporary pause in transaction momentum, Knight Frank India said.

"Despite the slowdown in May, Pune's property market has delivered its strongest performance in the first five months of the year since 2021. From January to May 2025, the city recorded over 99,300 property registrations, representing a 16% increase over the same period last year. Stamp duty collections also surged by 20% year-on-year, indicating higher-value transactions and stronger compliance," it said.

"In May 2025, Pune’s residential market recorded a 3% YoY decline in property registrations, primarily due to slower momentum in the ₹1–5 crore price segment, However, on a year-to-date basis, the market remains on a strong footing — registrations rose 16% YoY to 99,339 units, just shy of the 1 lakh mark, while stamp duty collections surged 20% to ₹3,687 crore," Shishir Baijal, chairman and managing director, Knight Frank India said.

Homes above ₹1 crore accounted for 19% of total registrations

Knight Frank India said in May, homes priced above ₹1 crore accounted for 19% of total registrations, up from 14% in May 2024. This shift signals rising demand among affluent buyers and a maturing market that is seeing traction at the top end.

However, properties priced up to ₹1 crore still dominate, making up 81% of total registrations, underscoring the continued importance of affordability in Pune's housing market. To add to it, the share of units exceeding 800 sq ft rose from 31% in May 2024 to 32% in May 2025. This trend underscores the continued preference for spacious homes in the post-pandemic era.

In May 2025, Central Pune—including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—maintained its lead in residential transactions, accounting for 75% of the market.

However, this represented a slight decline from the previous year as emerging developments in other parts of the city catered to evolving homebuyer preferences. West Pune, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 14%, while North, South, and East Pune collectively contributed 10% of transactions during the same period, the Knight Frank analysis said.