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Pune's housing market witnessed a sharp rise in property activity during the past month, with registrations increasing by 23% year-on-year and stamp duty revenues reaching INR 523 crore, according to Knight Frank India. Over 1.45 lakh properties were registered in the first nine months of the year, marking the highest volume in four years. The shift in the festive calendar supported buyer sentiment, while the demand for larger homes and properties priced above INR 1 crore continued to strengthen across micro-markets led by Central Pune.
Pune's property market recorded steady momentum in the past month, as Knight Frank India reported 13,557 property registrations, generating INR 523 crore in stamp duty revenue. The figures represented a 23% year-on-year rise in registrations and a 3% increase in stamp duty collections. Month-on-month data also reflected positive growth, with registrations rising by 2% and duty collections by 8%, underlining stable housing demand in the city. Advertisement
Knight Frank attributed the surge in registrations to the shifting festive calendar. During the same period last year, property activity had slowed owing to the inauspicious Shraddh period, whereas this year, the overlap of Navratri helped sustain buying momentum. The timing of festive occasions was said to have encouraged homebuyers to advance their purchases.
On a year-to-date basis, Pune's real estate sector remained resilient, registering its highest property transactions and stamp duty revenue in the first nine months of the year compared with the past four years. Property registrations rose by 5%, while stamp duty collections increased by 6% year-on-year, reaching INR 5,583 crore.
Demand continued to be driven by the mid- and lower-income segments, with 85% of transactions for homes priced below INR 1 crore. However, the share of homes valued above INR 1 crore rose slightly from 14% last year to 15% this year, suggesting gradual expansion in the premium housing segment.
The city also recorded a steady preference for larger homes, with apartments measuring above 800 sq ft accounting for 29% of transactions, up from 26% a year earlier. Meanwhile, smaller units below 500 sq ft saw a decline in share from 35% to 31%. This shift highlighted the changing lifestyle preferences of buyers prioritising space and comfort.
Central Pune, which includes Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), continued to dominate the housing market with a 61% share of total residential transactions. West Pune followed with 17%, while North, South, and East Pune collectively contributed 22%, reflecting growing housing activity beyond the central zones.
Knight Frank India's Chairman and Managing Director, Shishir Baijal, noted that the market continued to show sustained momentum throughout the year. He mentioned that the consistent registration volumes and robust revenue collections indicated a mature and confident housing market operating at stable levels.
The rise in property registrations and stamp duty collections across Pune signals a healthy and stable housing environment, supported by favourable festive timing and sustained buyer confidence. The gradual increase in premium housing demand and preference for larger homes points towards evolving consumer aspirations. With Central Pune maintaining its leadership and emerging corridors gaining traction, the city's property market continues to demonstrate long-term resilience backed by consistent sales volumes and healthy state revenue contributions.
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