Pune Real Estate: Property Registrations Decline but Stamp Duty Collections Remain Stable
Pune's real estate market witnessed an 8% Year-on-Year decline in property registrations in January 2025, with a total of 16,330 properties registered. Despite this, stamp duty collections remained steady at ₹590 crore.
Real EstateProperty RegistrationsStamp DutyPune MarketHomebuyersReal Estate NewsFeb 25, 2025
This decline is primarily attributed to the higher volume of property transactions during the festive season and preceding months.
However, stamp duty collections remained stable in January 2025, totaling ₹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.
According to Knight Frank India, a real estate consultancy firm, the 8% drop in property registrations in Pune is primarily due to the significant volume of property transactions that occurred during the festive season and in the preceding months.
Despite the decline in registrations, 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's monthly report indicates 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.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, commented, “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.”
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.
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.
Frequently Asked Questions
What was the year-on-year change in property registrations in Pune in January 2025?
Pune's real estate market saw an 8% Year-on-Year (YoY) decline in property registrations in January 2025, with 16,330 properties registered compared to 17,786 in the same period last year.
Why did property registrations drop in January 2025 despite stable stamp duty collections?
The drop in property registrations is primarily attributed to the higher volume of property transactions during the festive season and preceding months, while stamp duty collections remained stable due to an increase in the share of higher-value properties.
What is the trend in the demand for homes priced above ₹1 crore in Pune?
The demand for homes priced above ₹1 crore has increased, with the share of this segment growing from 13% in January 2024 to 15% in January 2025, reflecting a trend towards premiumization in Pune's housing market.
How has the demand for larger apartments changed in Pune?
The demand for larger apartments has remained strong, with the share of units over 800 sq. ft. rising from 28% in January 2024 to 31% in January 2025, highlighting the ongoing preference for more spacious homes.
What regions of Pune are most active in residential transactions?
Central Pune, comprising Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), continues to dominate residential transactions, accounting for 81% of the market share, followed by West Pune with 12% and the rest of the city collectively contributing 7%.
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