Pune Real Estate Witnesses 39% Drop in Registrations, Generates ₹527 Crore in Stamp Duty in October 2025
Pune’s real estate market saw 12,693 property registrations in October 2025, generating stamp duty collections of ₹527 crore. Despite the significant drop in both registrations and revenue compared to the previous year, the numbers remained respectable, holding above the 12,000 mark, according to a Knight Frank analysis.
Registrations fell 39% year-over-year (YoY), and revenue dropped 30%, primarily due to a high base effect. October 2024 had seen a strong festive momentum driven by Navratri (3–11 Oct) and Diwali (1 Nov 2024). In contrast, this year’s festive activity was largely concentrated in September, with Navratri falling from September 22 to October 1, and only Diwali on October 20, contributing to October’s festive momentum.
On a month-on-month (MoM) basis, registrations were down 6%, while stamp duty collections observed a modest 0.7% growth. On a year-to-date (YTD) basis, Pune’s property market has remained resilient, achieving the highest property registrations and stamp duty collections for the first ten months of the year in the past four years.
Homes priced up to ₹1 crore dominated with an 85% share, reflecting steady demand at the mid and affordable end. Segments above ₹1 crore held their ground at 15%, suggesting that while the top end is expanding, the market’s foundation continues to be broad-based. The overall preference for home sizes has remained stable through the year. Units under 500 sq ft inched up from 22% to 23%, and the 500 to 800 sq ft category held steady at 46%. Homes above 800 sq ft saw a mild dip, slipping from 32% to 30%, indicating a steady but slightly softening pull toward larger configurations, the IGR registration data showed.
In October 2025, Central Pune, which includes Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), maintained its lead in residential transactions, accounting for 64% of the market. However, this represented a decline from the previous year as emerging developments in other parts of the city catered to evolving homebuyer preferences. West Pune, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 14%, while North, South, and East Pune collectively contributed 22% of transactions during the same period.
Pune’s housing market has held its ground firmly through 2025. October’s numbers were lower than last year’s festive-inflated base, yet the city crossed 12,600 registrations and generated over ₹500 crore in revenue, pointing to steady underlying demand. Much of the festive buying shifted to September this year, but activity in October stayed within a healthy range. With YTD registrations and revenue at their highest levels in four years, Pune continues to operate at stable, sustainable volumes, reflecting a market that has grown more consistent, broad-based, and confident, said Shishir Baijal, Chairman and Managing Director, Knight Frank India.
