Pune real estate: Property registrations remain flat at 14,421 in April 2025, with just a 1% increase

Stamp duty collections from Pune’s property registrations fell by 3% in April 2025, totalling ₹547 crore compared to ₹566 crore in April 2024

Pune’s real estate market remained largely unchanged in April 2025, with property registrations increasing by just 1% year-on-year—from 14,244 in April 2024 to 14,421 this year—according to data from the Maharashtra Inspector General of Registration (IGR).

Pune’s real estate market remained largely unchanged in April 2025, with property registrations increasing by just 1% year-on-year—from 14,244 in April 2024 to 14,421 this year.(Mehul R Thakkar/HT)

Meanwhile, stamp duty collections in the Pune district declined by 3% in April 2025, amounting to ₹547 crore compared to ₹566 crore in the same month last year.

Pune’s property registrations saw a sharp 41% decline compared to March 2025, dropping from 24,494 in March to 14,421 in April 2025. Stamp duty collections also fell significantly, from ₹960 crore in March 2025 to ₹547 crore in April, according to data from real estate consultancy Knight Frank India.

Property registrations have dropped sharply month-on-month, primarily because March, the last month of the financial year, typically witnesses a spike in registrations as buyers rush to complete transactions for tax planning purposes.

According to Knight Frank India, this trend appears to be cyclical. Historical data shows that March typically sees heightened activity, while April experiences a relative slowdown.

The consultancy noted that the year-on-year decline in stamp duty revenue is largely due to an increased proportion of registrations in lower ticket-size segments.

Year-to-date (YTD) data indicates that Pune’s property market remains stable. The first four months of the year saw the highest property registrations and stamp duty collections in four years.

Compared to the same period last year, property registrations increased by 5%, while stamp duty collections rose by 8%, according to data compiled by Knight Frank India.

83% of Pune property registrations remain under ₹1 crore despite growing interest in premium homes

 

According to the data, 83% of properties registered in April 2025 fell within the up to ₹1 crore price range, indicating that demand remains primarily concentrated in this segment.

However, the share of homes priced above ₹1 crore increased from 14% in April 2024 to 16% in April 2025, reflecting a growing interest in premium housing. According to Knight Frank India, this trend suggests that while the market is expanding at the top, it remains broad-based at its core.

“Pune’s residential market has been seeing steady demand on a year-on-year basis, even while there are minor fluctuations. Since Pune is largely an end-user-driven market, steady demand is a good barometer of the city's economic stability. We expect the general momentum of demand to remain unchanged, demonstrating long-term buyer confidence," said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

Larger apartments gain popularity as Central Pune leads residential transactions

 

The demand for larger apartments in Pune remains robust, with the share of units over 800 sq ft increasing from 31% in April 2024 to 33% in April 2025, reflecting a continued preference for spacious homes in the post-pandemic era.

Geographically, Central Pune—which includes Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—continued to dominate residential transactions in April 2025, accounting for 75% of the market. However, this marks a slight dip from the previous year as emerging areas across the city cater to shifting homebuyer preferences.

West Pune, comprising Mawal, Mulshi, and Velhe, held the second-largest share at 14%, while North, South, and East Pune collectively accounted for 10% of transactions during the same period.