Pune: The Pune real estate market has maintained stability in stamp duty collections for January 2025, despite an 8% year-on-year (YoY) drop in property registrations, as per the latest report by Knight Frank India. The city recorded 16,330 property sales, contributing ₹590 crore in stamp duty revenue, a marginal 0.1% increase compared to January 2024.
While the number of registered properties declined due to a surge in transactions during the festive season in the previous months, the revenue remained stable. This can be attributed to a growing demand for premium properties priced at ₹1 crore and above, reflecting a shift in consumer preference towards high-value real estate investments.
Key Trends in Pune's Real Estate Market
Rise in Premium Housing Demand
Properties priced at ₹1 crore and above saw a rise in market share, increasing from 13% in January 2024 to 15% in January 2025.
The segment for properties priced between ₹2.5 crore - ₹5 crore also witnessed growth, expanding from 1% to 2% YoY.
Preference for Larger Homes Continues
Homes over 800 sq. ft. accounted for 31% of total transactions in January 2025, up from 28% last year.
Apartments ranging between 1,000 - 2,000 sq. ft. saw an increase in demand, rising from 12% to 14% of total transactions.
Central Pune Leads Transactions, West Pune Gains Market Share
Central Pune, including Haveli, PMC, and PCMC, dominated the market with 81% of total residential transactions.
West Pune (Mawal, Mulshi, Velhe) saw an increase in its market share from 8% to 12%, indicating growing interest in emerging areas.
Impact of Interest Rate Trends and Economic Growth
The likelihood of a reduction in home loan interest rates and continued strong employment opportunities in Pune are expected to sustain market momentum. Developers are actively adapting to changing consumer preferences to ensure a steady supply of housing that meets evolving demands.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, commented: "Despite a moderation in transaction volumes, the demand for premium housing remains robust, reflecting the positive sentiment among homebuyers in the higher-value segment. The evolving affordability landscape and a potential decline in interest rates will further support the real estate market in the coming months."
