Pune Sees Surge in Property Registrations, with 13,397 Units Sold in August 2024
Pune's real estate market remains robust, with the city witnessing significant registrations and revenue growth in August. Homes valued Rs 1 crore and above saw increased demand in August 2024.
PuneProperty RegistrationsReal EstateKnight Frank IndiaStamp Duty CollectionsReal Estate PuneSep 20, 2024
The report highlights that stamp duty collections for the month totaled Rs 592 crore, reflecting a 40% year-on-year (YoY) rise in August 2024. This surge underscores the growing confidence of homebuyers in Pune, fueled by improved affordability and positive outlook towards property ownership.
In the first eight months of 2024, the city recorded 127,108 property registrations, reflecting a substantial 40% increase compared to the same period in 2023. Stamp duty collections from these registrations also saw a remarkable rise, exceeding Rs 4,736 crore, representing a 47% YoY growth.
Homes valued Rs 1 crore and above saw increased demand in August 2024, with the luxury segment experiencing a notable rise in both volume and share. The Rs 50 lakh – 1 crore segment accounted for the largest share, reflecting a preference for bigger and more premium homes.
The trend to buy bigger apartments has sustained post the pandemic experience, with the share of apartments above 800 sq ft growing from 28% in August 2023 to 32% in August 2024.
Shishir Baijal, chairman and managing director, Knight Frank India, said, “Pune’s real estate market remains robust, with the city witnessing significant registrations and revenue growth in August. Year-to-date property registrations in Pune have surged by 40% YoY. This trend is evident as the city records its fastest year to surpass 1 lakh registrations, highlighting Pune’s increasing appeal in the real estate sector.”
Central Pune accounted for 80% of total residential transactions in August 2024, with West Pune securing the second-largest share of residential transactions, accounting for 12% of the total.
Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected]
Knight Frank India is a leading international property consultancy that provides a comprehensive range of services across various asset classes. The company has a strong presence in India, with offices in major cities across the country. About the Author Anuradha Ramamirtham is a senior journalist with over 16 years of experience in various sectors, including real estate. She excels in tracking property trends and simplifying housing-related topics.
Frequently Asked Questions
What was the number of property registrations in Pune in August 2024?
13,397
What was the year-on-year (YoY) rise in stamp duty collections in August 2024?
40%
What was the share of homes valued Rs 1 crore and above in August 2024?
Increased demand
What was the trend in apartment sizes in August 2024?
The share of apartments above 800 sq ft grew from 28% in August 2023 to 32% in August 2024.
What was the share of Central Pune in total residential transactions in August 2024?
80%
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.