October 28, 2025: Knight Frank India, in its latest assessment, reported that Pune’s real estate market recorded 13,557 property registrations in September 2025, contributing Rs 523 cr in stamp duty revenue. Property registrations rose by 23% year-on-year (YoY), while stamp duty collections increased 3% YoY in the same period. On a month-on-month (MoM) basis property registrations increased by 2% and stamp duty collections rose by 8% highlighting the city’s steady housing demand, the report mentioned.
Property registration and Stamp duty collection
| Period | Registrations (Units) | Stamp duty collection (INR cr) |
| Sep-24 | 11,056 | 508 |
| Sep-25 | 13,557 | 523 |
| YoY Change | 23% | 3% |
The increase in registrations can be attributed to the shifting festive calendar. According to the Knight Frank India report, last year, property activity was subdued during the inauspicious Shraddh period (September 17–October 2, 2024), whereas this year it occurred earlier (September 7–21, 2025). This effect was offset by Navratri, which began on September 22 and continued till October 2, 2025, unlike last year when it was observed later (October 3 to 12, 2024).
Property registrations and Stamp duty collection
| Year | Month | Total Registration | Stamp Duty Collection
(INR Cr) |
| 2024 | September | 11,056 | 508 |
| 2024 | October | 20,894 | 751 |
| 2024 | November | 13,371 | 475 |
| 2024 | December | 17,348 | 620 |
| 2025 | January | 17,449 | 638 |
| 2025 | February | 19,025 | 713 |
| 2025 | March | 24,495 | 960 |
| 2025 | April | 14,421 | 547 |
| 2025 | May | 12,037 | 426 |
| 2025 | June | 16,792 | 643 |
| 2025 | July | 14,622 | 648 |
| 2025 | August | 13,253 | 485 |
| 2025 | September | 13,557 | 523 |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
On a year-to-date (YTD) basis, Pune’s property market has remained resilient, achieving the highest property registrations and stamp duty collections for the first nine months of the year in the past four years. Compared to the same period last year, property registrations and stamp duty revenues saw a 5% and 6% increase respectively.
Property registration and Stamp duty collection
| Period (Jan-Sep) | Registrations (Units) | Revenue (INR cr) |
| 2022 | 100,166 | 3,381 |
| 2023 | 107,627 | 3,811 |
| 2024 | 138,412 | 5,253 |
| 2025 | 145,651 | 5,583 |
| YoY Change | 5% | 6% |
| Demand rises across segments in Sep 2025 |
The share of homes priced above Rs 1 cr increased marginally from 14% in September 2024 to 15% in September 2025. Meanwhile, properties priced up to Rs 1 cr remained stable with 85% share. Demand remains firmly concentrated below the Rs 1 cr mark, suggesting that while the top end is expanding, the market’s foundation continue to be broad-based.
Share of ticket size for residential property transactions
| Ticket size | Share in Sep
2024 |
Share in Sep
2025 |
| Under Rs 25 lakh | 29% | 30% |
| Rs 25 – 50 lakh | 31% | 29% |
| Rs 50 lakh – 1 Cr | 26% | 26% |
| Rs 1 Cr – 2.5 Cr | 11% | 12% |
| Rs 2.5 Cr – 5 Cr | 2% | 2% |
| Over 5 Cr | <=1% | <=1% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Shishir Baijal, chairman & managing director, Knight Frank India, stated, “Pune’s housing market continues to display sustained momentum this year. The 23% YoY increase in registrations in September reflects how the shift in the festive calendar has further supported buyer activity. Revenue collections of Rs 523 cr remained strong, reinforcing the steady demand seen through the year. What we are witnessing is a market operating at sustainable volumes, signalling growing maturity and enduring confidence among homebuyers.”
| Higher demand for larger apartments sustains |
The demand for larger homes has held steady, with the share of apartments above 800 sqft inching up from 26% in September 2024 to 29% a year later. At the same time, demand at the other end of the spectrum dipped in September, as share of units under 500 sqft declined from 35% to 31% over the same period.
Share of area for residential property transactions
| Area in sq ft | Share in
Sep 2024 |
Share in
Sep 2025 |
| Under 500 | 35% | 31% |
| 500-800 | 39% | 40% |
| 800-1000 | 11% | 12% |
| 1000- 2000 | 13% | 14% |
| Over 2000 | 2% | 3% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
| Central Pune contributed 76% of residential transactions in Sep 2025 |
In September 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 61% of the market. However, this represented a decline from the previous year as emerging developments in other parts of the city catered to evolving homebuyer preferences. West Pune, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 17%, while North, South, and East Pune collectively contributed 22% of transactions during the same period.
Share of micro markets for residential property transactions
| Micro market | Share in Sep 2024 | Share in Sep 2025 |
| North | 9% | 10% |
| South | 5% | 7% |
| East | 4% | 5% |
| West | 14% | 17% |
| Central | 69% | 61% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR
| Micro Markets | |
| Zone | Taluka |
| North | Junnar, Ambegaon, Khed |
| South | Bhor, Purandhar, Baramati, Indapur |
| East | Shirur, Daund |
| West | Mawal, Mulshi, Velhe |
| Central | Haveli, Pune city (Pune Municipal corporation (PMC) & Pimpri Chinchwad Municipal Corporation (PCMC)) |
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |