Pune, Jan 22: Knight Frank India, in its latest assessment, reported that Pune’s real estate market recorded 185,657 property registrations in 2025, marking a modest 2.3% year-on-year (YoY) decline, while stamp duty collections stood at INR 7,119 cr, remaining largely stable with a marginal 0.3% YoY increase. Despite the dip in registrations, revenue collection reached its highest level in the last four years, supported by stronger demand for higher ticket-size properties.
On a monthly basis, property registrations in December 2025 declined by 30% YoY to 12,079 units, with stamp duty collections recording decline of 28% over the same period. While the YoY decline in total property registrations looked steep due to the elevated base in December 2024, registrations in December 2025 were approximately 10% lower than the six-month average of 13,406 units indicating a normalisation from last year’s peak rather than a deterioration in underlying demand.
Demand remains stable across segments in Dec 2025
The distribution of ticket sizes in December 2024 and December 2025 remained largely unchanged. Homes priced up to INR 1 core (cr) continued to dominate with an 85% share, reflecting steady demand at the mid and affordable end. Segments above INR 1 cr hold their ground at 15%.
Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “Pune’s residential market remained structurally stable through 2025, with annual stamp duty collections touching INR 7,119 cr for 2025, the highest level recorded in the last four years. While overall registrations saw a modest YoY moderation, higher ticket-size transactions continued to support revenue growth, highlighting the depth of end-user demand. The moderation observed toward the end of the year appears more reflective of a normalisation from last year’s peak rather than a structural slowdown. With transaction activity spread across price segments, apartment sizes, and micro-markets, Pune’s housing market continues to remain balanced, though near-term trends will need to be tracked to assess the durability of this momentum.”
Higher demand for larger apartments sustains
The overall preference for home sizes has remained stable throughout the year. Share of units under 500 sq ft dipped marginally from 25% to 24%, while the 500 to 800 sq ft category remained steady at 46%. Share of homes above 800 sq ft increased marginally by a percentage to 30%.
Central Pune contributed 67% of residential transactions in Dec 2025
In December 2025, Central Pune which includes Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), maintained its lead in residential transactions, accounting for 67% of the market. West Pune, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 15%, while North, South, and East Pune collectively contributed 18% of transactions during the same period.