Pune Real Estate Sees 8% Decline in Property Registrations in January 2025
Pune's real estate market experienced an 8% Year-on-Year (YoY) decline in property registrations in January 2025, according to data from the Maharashtra Inspector General of Registration (IGR). Despite the decline, stamp duty collections remained stable,
Pune Real EstateProperty RegistrationsStamp DutyHome PricesReal Estate MarketReal Estate PuneFeb 25, 2025
The data, sourced from the Maharashtra Inspector General of Registration (IGR), highlights a moderation in the market.
However, stamp duty collections remained stable, totaling ₹590 crore in January 2025, nearly identical to the ₹589 crore collected in January 2024.
In contrast, December 2024 saw 17,348 properties registered, with stamp duty collections amounting to ₹620 crore.
According to Knight Frank India, a prominent real estate consultancy firm, the decline in property registrations can be attributed to a higher volume of transactions during the festive season and the preceding months.
Despite this, stamp duty collections remained robust, primarily due to a rise in the share of properties worth ₹1 crore and above.
The demand for homes priced above ₹1 crore has notably increased, reflecting a trend towards premiumization in Pune's housing market.
Knight Frank India's monthly report indicates that the share of properties priced above ₹1 crore grew from 13% in January 2024 to 15% in January 2025.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, said, “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.” He further noted that while evolving affordability dynamics and market adjustments have influenced transaction volumes in the lower and mid-segments, a potential reduction in home loan interest rates and robust employment in the city is expected to support the market going forward.
The demand for larger apartments also remains strong, with the share of units over 800 sq.
ft.
increasing from 28% in January 2024 to 31% in January 2025.
This trend highlights the ongoing preference for more spacious homes, a shift that has been evident 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.
Developers are adapting to these shifting consumer preferences, ensuring a steady supply to meet the demand.
The real estate market in Pune is expected to remain dynamic, with continued growth in the premium segment and a focus on larger, more spacious homes to cater to changing lifestyle preferences.
Frequently Asked Questions
What caused the 8% decline in property registrations in Pune's real estate market in January 2025?
The decline is attributed to a higher volume of property transactions during the festive season and the preceding months, according to Knight Frank India.
How did stamp duty collections perform despite the decline in property registrations?
Stamp duty collections remained stable, totaling ₹590 crore in January 2025, nearly identical to the ₹589 crore collected in January 2024.
What is the trend in demand for higher-value homes in Pune?
The demand for homes priced above ₹1 crore has notably increased, with the share of this segment growing from 13% in January 2024 to 15% in January 2025.
How has the demand for larger apartments changed in Pune?
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.
What regions in Pune are seeing the highest residential transactions?
Central Pune—comprising Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)—accounted for 81% of the market share in January 2025, followed by West Pune at 12%.
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