Pune real estate market maintains status quo in stamp duty collections in January 2025

Pune, 25th February 2025: Knight Frank India in its latest assessment noted that Pune’s real estate market-maintained status quo in stamp duty collections from property registrations in January 2025 on a year-on-year (YoY) basis. Pune recorded 16,330 property sale registrations generating INR 590 crores in stamp duty revenue.

The number of properties registered in January 2025 recorded a decline of 8% YoY compared to January 2024, primarily due to a higher volume of property transactions during the festive season and in preceding months. Despite this, stamp duty collections remained stable, supported by a rise in share of properties worth INR 1 crore and above.

Property registration and Stamp duty collection

Property registrations, Value of property and Stamp duty collection

The demand for homes priced above INR 1 crore has seen a notable increase. The share of this segment grew from 13% in January 2024 to 15% in January 2025, reflecting a trend towards premiumization in Pune’s housing market.

Share of ticket size for residential property transactions

Ticket size for residential property transactions

Shishir Baijal, Chairman and Managing Director, 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. While evolving affordability dynamics and market adjustments have influenced transaction volumes in the lower and mid segment, likely reduction in home loan interest rate and robust employment in the city is expected to support the market going forward. Developers are adapting to shifting consumer preferences, ensuring a steady supply to meet demand.”

The preference for larger apartments continues, with the share of units larger than 800 sq ft increasing from 28% in January 2024 to 31% in January 2025. This trend reflects the sustained demand for spacious homes following the pandemic.

Share of area for residential property transactions

In January 2025, Central Pune—including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)— continued to dominate residential transactions, contributing 81% of the market. However, this marked a slight decline from the previous year, as new developments in other parts of the city began addressing Pune’s evolving homebuyer preferences. West Pune, encompassing Mawal, Mulshi, and Velhe, held the second-largest share at 12%, while North, South, and East Pune collectively accounted for 7% of transactions during the same period.

Share of micro markets for residential property transactions