Pune's Property Market Surges: Registrations and Stamp Duty See Significant Growth

The residential real estate market in Pune has been experiencing a significant surge, with over 14,000 property registrations recorded in November 2025. According to data from the Inspector General of Registration (IGR) accessed by Knight Frank India, the area generated more than ₹565 crore in stamp duty revenue.

The city recorded 14,234 registrations in the last month, compared to 13,371 units in November 2024, marking a year-on-year growth of 6%. The collections from the stamp duty increased by 19%, from ₹475 crore to ₹565 crore during the same period. Month-on-month numbers also showed an increase, with registrations rising by 12% and revenue by 7%, indicating sustained buyer interest even during the off-peak season.

From January to November 2025, Pune has seen the registration of 173,578 property transactions, surpassing the 172,677 units recorded during the same period in 2024. Shishir Baijal, the Chairman and Managing Director of Knight Frank India, stated that the number of registrations in November exceeded 14,200, with collections from stamp duty surpassing ₹560 crore. This clearly indicates the strength of end-user demand.

By analyzing the ticket sizes, it is evident that homes priced up to ₹1 crore were the most popular, accounting for 85% of the registrations. Properties above ₹1 crore made up the remaining 15%, while transactions exceeding ₹5 crore were less than 1% of the total. This trend highlights the strong demand for mid- and affordable housing segments, while the luxury segment has remained stable.

In terms of unit sizes, the 500-800 sq ft range was the most popular at 46%, followed by units over 800 sq ft at 29%. Smaller units of less than 500 sq ft saw a slight decrease from 25% to 24%, while units in the 800-1,000 sq ft range saw a slight increase from 13% to 14%. The proportion of units between 1,000-2,000 sq ft decreased slightly from 13% to 12%, and ultra-large units above 2,000 sq ft remained at 3%.

Central Pune, comprising areas under Haveli taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), contributed the most with 66% of the registrations in November. West Pune, including areas of Mawal, Mulshi, and Velhe, accounted for 15% of the registrations, while North, South, and East Pune combined for the remaining 18%.

The market remains strong and balanced, driven by widespread demand across micro-markets and price segments, according to Mr. Baijal. Experts attribute Pune's excellent property performance to committed urban migration, a booming IT and industrial sector, and increased investor confidence in residential projects. Developers are continuously producing more mid-sized apartments and affordable housing to meet the needs of end-users and first-time buyers.

Changes in city planning, such as new metro lines, better road connectivity, and more commercial areas, are attracting people to micro-markets like West and North Pune. Lifestyle amenities like good schools, hospitals, shopping centers, and parks are also key factors influencing buyer decisions. The festive season, which was earlier in the year, is another significant reason for the spike in activity.

Market analysts predict that Pune's real estate activities will maintain a similar trend in the first quarter of 2026. With limited inventory in prime micro-markets and consistent end-user demand, registration volumes and stamp duty collections are expected to continue growing. Pune continues to attract buyers despite seasonal fluctuations, with a focus on reasonably priced and strategically located residential properties. 2025 is shaping up to be one of the strongest years in recent history in terms of both transaction volumes and revenue for the city, Mr. Baijal added.