Pune's Real Estate: Strong Demand for Premium Homes and Spacious Apartments

Published Date : 25/02/2025 

Pune’s real estate market maintained stamp duty collection stability despite an 8% drop in property registrations in January 2025. Rising demand for premium properties and larger homes continues to sustain revenue levels and market resilience. 

Pune’s real estate market has shown remarkable resilience in the face of an 8% year-on-year decline in property registrations in January 2025.

According to Knight Frank India, 16,330 property sales were recorded, generating ₹590 crore in stamp duty revenue, which is on par with the ₹589 crore collected in January 2024.

The decline in registrations is attributed to higher transaction volumes during the preceding festive months.

However, the market has found a silver lining in the rising demand for premium properties priced above ₹1 crore.

These properties now account for 15% of transactions, up from 13% in January 2024.

This shift towards premium housing has helped sustain revenue levels despite the overall drop in registrations.

Larger homes also remained a preferred choice for buyers, 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, reflecting changing preferences in the market.

Central Pune, encompassing Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), dominated the residential transactions, accounting for 81% of the total.

West Pune contributed 12%, while North, South, and East Pune made up the remaining 7%.

Interest in suburban areas is on the rise, indicating a growing trend towards decentralized living.

Shishir Baijal, CMD of Knight Frank India, noted that while affordability concerns have influenced the mid-range housing segment, strong employment trends and expected home loan rate cuts could drive future growth.

Developers are adapting to these shifting preferences, ensuring market stability.

With continued demand for premium housing and spacious apartments, Pune’s real estate sector remains resilient, offering numerous opportunities for buyers and investors in the coming months. 

Frequently Asked Questions (FAQS):

Q: What was the percentage drop in property registrations in Pune in January 2025 compared to January 2024?

A: Property registrations in Pune in January 2025 saw an 8% year-on-year drop compared to January 2024.

Q: How much stamp duty revenue was collected in January 2025, and how does it compare to the previous year?

A: ₹590 crore in stamp duty revenue was collected in January 2025, which is on par with the ₹589 crore collected in January 2024.

Q: What is the trend in demand for premium properties priced above ₹1 crore?

A: The demand for premium properties priced above ₹1 crore has increased, with their share of transactions rising from 13% in January 2024 to 15% in January 2025.

Q: What is the trend in demand for larger homes (above 800 sq ft)?

A: The demand for larger homes (above 800 sq ft) has increased, making up 31% of sales in January 2025, up from 28% the previous year.

Q: What factors are expected to drive future growth in Pune's real estate market?

A: Strong employment trends and expected home loan rate cuts are expected to drive future growth in Pune's real estate market. 

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