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Pune real estate: Property registrations down 8% in January, stamp duty revenue stable
Pune's real estate market reported an 8% Year-on-Year (YoY) decline in property registrations, with 16,330 properties registered in January 2025
Pune's real estate market reported an 8% Year-on-Year (YoY) decline in property registrations, with 16,330 properties registered in January 2025, compared to 17,786 in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR).
However, stamp duty collections remained stable in January 2025, totalling ₹590 crore, nearly identical to the ₹589 crore collected in January 2024. In comparison, December 2024 saw 17,348 properties registered, with stamp duty collections amounting to ₹620 crore.
Why did property registrations drop in the Pune real estate market?
According to Knight Frank India, a real estate consultancy firm, the property registrations reported an 8% drop in the Pune real estate market primarily due to a higher volume of property transactions during the festive season and in the preceding months. Despite this, stamp duty collections remained stable, supported by a rise in the share of properties worth ₹1 crore and above.
The demand for homes priced above ₹1 crore has notably increased. Knight Frank India said in its monthly report that the share of this segment grew from 13% in January 2024 to 15% in January 2025, reflecting a trend towards premiumization in Pune's housing market.
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“Pune recorded a moderation in property sale registrations in January 2025. However, demand for higher-value homes, particularly those priced above ₹1 crore, continues to grow, reflecting positive homebuyers’ sentiment in the higher value segment," Shishir Baijal, Chairman and Managing Director, Knight Frank India, said.
"While evolving affordability dynamics and market adjustments have influenced transaction volumes in the lower and mid-segment, a likely reduction in home loan interest rates and robust employment in the city is expected to support the market going forward. Developers are adapting to shifting consumer preferences, ensuring a steady supply to meet demand,” he said.
Demand for larger apartments up: Units over 800 sq. ft. rise to 31% in January 2025
Knight Frank India noted that the demand for larger apartments remains strong, with the share of units over 800 sq. ft. rising from 28% in January 2024 to 31% in January 2025. This shift highlights the ongoing preference for more spacious homes, a trend that has persisted since the pandemic.
In January 2025, Central Pune—comprising Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—continued to dominate residential transactions, accounting for 81% of the market share.
However, this marked a slight decline from the previous year, as new developments in other parts of the city began catering to Pune's evolving homebuyer preferences. West Pune, covering Mawal, Mulshi, and Velhe, captured the second-largest share at 12%, while North, South, and East Pune collectively contributed to 7% of the transactions during the same period.
