Pune's Real Estate Market Shows Resilience Despite Registration Drop
Despite an 8% year-on-year drop in property registrations, Pune’s real estate market maintains stability in stamp duty collections, driven by strong demand for premium properties and larger homes.
Real EstatePuneProperty SalesStamp DutyPremium PropertiesReal EstateFeb 25, 2025
According to a report by Knight Frank India, the city recorded 16,330 property sales, generating ₹590 crore in stamp duty revenue.
This is on par with the ₹589 crore collected in January 2024, despite an 8% year-on-year drop in registrations.
The decline in registrations is attributed to the higher transaction volumes witnessed during the preceding festive months.
However, the market has been bolstered by a rising demand for premium properties priced above ₹1 crore.
The share of these high-value transactions increased from 13% in January 2024 to 15% in January 2025.
Larger homes also remained a popular choice, with apartments above 800 sq ft making up 31% of sales, up from 28% the previous year.
In contrast, mid-sized apartments (500-800 sq ft) saw a slight dip in demand, indicating a shift in buyer preferences towards more spacious living quarters.
Central Pune, encompassing Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), accounted for 81% of residential transactions.
However, there is a growing interest in suburban areas, with West Pune contributing 12% of the transactions and North, South, and East Pune making up the remaining 7%.
Shishir Baijal, CMD of Knight Frank India, highlighted that while affordability concerns have influenced the mid-range housing market, strong employment trends and the expectation of home loan rate cuts could drive future growth.
Developers are adapting to these shifting preferences, ensuring market stability and meeting the evolving needs of buyers.
With the continued demand for premium housing and spacious apartments, Pune’s real estate sector remains robust, offering numerous opportunities for both buyers and investors in the coming months.
The market's adaptability and resilience are key factors in sustaining its growth and attracting continued interest from property enthusiasts.
Frequently Asked Questions
What caused the decline in property registrations in January 2025?
The decline in property registrations is attributed to higher transaction volumes during the preceding festive months.
How did the demand for premium properties affect the market?
The demand for premium properties priced above ₹1 crore helped sustain revenue levels, with their share of transactions increasing from 13% in January 2024 to 15% in January 2025.
Which areas of Pune saw the highest number of residential transactions?
Central Pune, which includes Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), accounted for 81% of residential transactions.
What factors are expected to drive future growth in the real estate market?
Strong employment trends and the expectation of home loan rate cuts are expected to drive future growth in the real estate market.
How are developers adapting to the changing preferences in the market?
Developers are adapting to the shift towards larger homes and premium properties by ensuring market stability and meeting the evolving needs of buyers.
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