Pune Real Estate Market Shows Resilience in January 2026 with Shift to Larger Apartments
Pune's real estate market kicked off 2026 with a cautious note, as property registrations dropped 17% year-over-year (YoY) in January 2026. According to the Inspector General of Registration and Controller of Stamps, Maharashtra, the city recorded 14,527 property registrations, a significant decrease from the 17,449 registrations in January 2025. However, stamp duty collections showed more resilience, dropping only 5% to ₹609 crore, compared to ₹638 crore in the same period last year.
Even with the YoY slowdown, the month-on-month (MoM) figures indicate a recovery from the year-end slump. In December 2025, Pune saw 12,079 property registrations and ₹444 crore in stamp duty collections. This sequential growth in both registrations and revenue suggests that the market is resuming buying activity after the festive and fiscal year-end pause.
Shishir Baijal, International Partner, Chairman, and Managing Director of Knight Frank India, noted, “The shift toward mid and premium segments, along with steady demand for larger homes, indicates that end-user confidence remains intact even as volumes normalize from last year’s elevated base.” He added, “While registrations moderated YoY, the relatively lower decline in revenue reflects continued momentum in higher ticket-size transactions. On a sequential basis, the sharp rebound in both registrations and collections signals renewed buying activity after the year-end slowdown.”
Shift Towards Higher-Value Homes
Although homes priced below ₹1 crore continued to dominate the market, the cumulative percentage of homes in this segment eased to 82% in January 2026. The report highlights the following trends in ticket sizes: - ₹50 lakh – ₹1 crore segment: 29% of registrations. - ₹1 crore – ₹2.5 crore segment: 14% of registrations.
This indicates that while affordable homes remain the most popular, the demand for higher-value homes is gradually increasing. Buyers are showing a growing interest in mid and premium segments, reflecting a shift in their preferences.
Steady Demand for Larger Units
The distribution of home sizes also reveals a clear preference for larger apartments. The percentage of units less than 500 sq ft fell from 26% in January 2025 to 23%, while the 500–800 sq ft range remained the leading category at 46%. The bigger apartments, including the 800–1,000 sq ft and 1,000–2,000 sq ft categories, increased slightly by one percentage point each to 14%. Homes exceeding 2,000 sq ft maintained their share at 3%.
These changes suggest that buyers are moving towards more spacious and comfortable living spaces, although they are not completely abandoning smaller or mid-sized apartments. Knight Frank's report states that these trends indicate a stable market with evolving end-user requirements, particularly towards larger unit sizes and luxury layouts.
Geographical Trends
Central Pune, which includes areas such as Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), was the top residential transaction location, accounting for 67% of the market in January 2026. West Pune, encompassing areas like Mawal, Mulshi, and Velhe, accounted for 16% of the market. North, South, and East Pune together accounted for the remaining 16%.
The significant concentration in Central Pune highlights its status as the primary residential hub, driven by excellent infrastructure, proximity to workplaces, and a plethora of social amenities. Suburban areas, which are in the early stages of development, continue to attract buyers looking for affordable homes or larger land plots.
Market Outlook
Shishir Baijal commented, “Pune’s residential market has started 2026 on a measured note, with over 14,500 property registrations and ₹609 crore in stamp duty collections in January. While registrations moderated YoY, the relatively lower decline in revenue reflects continued momentum in higher ticket-size transactions. On a sequential basis, the sharp rebound in both registrations and collections signals renewed buying activity after the year-end slowdown.”
The overall market situation in January 2026 shows a real estate sector normalizing after the vibrant activity of the previous year. Despite the decline in property registrations, the smaller drop in stamp duty revenue indicates that higher-value and larger transactions are still ongoing. Experts believe this is a positive sign for the residential market, indicating long-term health and stability.
The main points from the analysis are that buyers continue to opt for mid and premium ticket-size properties, a positive indicator of consumer confidence. Lifestyle changes are also influencing a growing preference for larger apartments. Central Pune remains the favorite location, while peripheral areas are gradually gaining popularity.
“The market is getting used to a slower and more regular pace,” Baijal noted. “It seems like overall demand is stable, and buyers are showing a slight preference for larger units but are also very much interested in mid-sized apartments.”
Pune's real estate sector has started 2026 on a firm and steady note, returning to a stable trend. The gradual increase in the share of mid and premium homes, along with consistent demand for larger apartments, suggests that even if the number of transactions slows down, end-user confidence will remain high. The residential market is projected to be healthy and sustainable in the coming months.
