August 14, 2024: Knight Frank India, in its latest assessment stated that Pune witnessed property sale registration of 13,314 properties in July 2024, a 25% increase over the same time previous year. Stamp duty collections during this period totaled Rs 504 crore, reflecting a 47% year-on-year (YoY) rise in July 2024. Pune recorded sale registration of over 1,00,000 properties in July 2024, showcasing a higher velocity of sales as compared to the last year when the city reached the 1,00,000- unit mark in September 2023. This surge highlights the growing confidence among homebuyers in Pune, driven by favorable affordability and positive outlook towards property ownership, mentions the Knight Frank India report.
Property registrations, Value of property and Stamp duty collection
| Period | Total registration | Stamp duty collection (INR cr) |
| July – 2023 | 10,614 | 344 |
| July – 2024 | 13,314 | 504 |
| YoY Change | 25% | 47% |
Property registrations, Value of property and Stamp duty collection
| Year | Month | Total Registration | Stamp Duty Collection
Cr |
| 2023 | January | 12,166 | 441 |
| 2023 | February | 14,284 | 517 |
| 2023 | March | 14,309 | 621 |
| 2023 | April | 8,758 | 319 |
| 2023 | May | 8,958 | 283 |
| 2023 | June | 8,913 | 278 |
| 2023 | July | 10,614 | 344 |
| 2023 | August | 13,021 | 423 |
| 2023 | September | 16,604 | 585 |
| 2023 | October | 14,983 | 495 |
| 2023 | November | 14,988 | 485 |
| 2023 | December | 14,725 | 560 |
| 2024 | January | 17,786 | 589 |
| 2024 | February | 18,791 | 662 |
| 2024 | March | 22,189 | 822 |
| 2024 | April | 14,244 | 566 |
| 2024 | May | 12,280 | 547 |
| 2024 | June | 14,673 | 544 |
| 2024 | July | 13,314 | 504 |
Source: IGR Maharashtra
Pune’s property registration and Stamp Duty Collection
Property registrations, Value of property and Stamp duty collection
| Period
(Jan-July) |
Total registration | Stamp duty collection (INR cr) |
| 2022 | 83,680 | 2,792 |
| 2023 | 78,002 | 2,803 |
| 2024 | 113,277 | 4,127 |
| 2024 YoY | 45% | 47% |
In the first seven months of 2024, Pune’s residential sector saw strong growth, with property sale registrations exceeding one lakh units—the fastest pace in the past two years. The city recorded 113,277 property registrations, reflecting a substantial 45% increase compared to the same period in 2023. Stamp duty collections from these registrations also saw a notable rise, surpassing INR 4,127 crores, which represents a 47% year-over-year growth.
Homes valued Rs 1 crore and above saw increased demand in July 2024
According to the Knight Frank India report, Pune’s housing market witnessed a strong surge in July 2024, with housing registrations increasing by 23% year-on-year, driven primarily by growing demand for mid-range and luxury properties. The Rs 50 lakh – 1 cr segment saw the highest share (33%), reflecting a preference for larger and more premium homes, while the luxury segment which includes residential properties worth Rs 1 cr and above, experienced a remarkable increase in both volume and share. This positive trend in the Pune housing market is likely fuelled by factors such as rising incomes, positive consumer sentiment and favourable financing options.
Share of ticket size for residential property transactions
| Ticket size | Share in July 2023 | Share in July 2024 |
| Under INR 25 lakhs | 23% | 21% |
| INR 25 – 50 lakhs | 35% | 31% |
| INR 50 lakhs – 1 Cr | 32% | 33% |
| INR 1 Cr – 2.5 Cr | 9% | 13% |
| INR 2.5 Cr – 5 Cr | 1% | 1% |
| Over 5 Cr | <=1% | 1% |
| Ticket size | Share in July 2023 | Share in July 2024 | YoY |
| Under INR 25 lakhs | 1,843 | 2,082 | 13% |
| INR 25 – 50 lakhs | 2,804 | 3,064 | 9% |
| INR 50 lakhs – 1 Cr | 2,564 | 3,278 | 28% |
| INR 1 Cr – 2.5 Cr | 721 | 1,297 | 80% |
| INR 2.5 Cr – 5 Cr | 80 | 99 | 24% |
| Over 5 Cr | 1 | 1 | 0% |
| Total | 8,013 | 9,821 | 23% |
Source: IGR Maharashtra
Higher demand for larger apartments sustains.
As per the Knight Frank India report, the share of apartments from 800 sqft and above saw a growth of 7% in July 2024 from 24% in July 2023 to 31% in July 2024. Conversely, apartments below 800 sqft witnessed a dip of 7% in July 2024 as compared to the previous year.
Share of area for residential property transactions
| Area in sq ft | Share in July 2023 | Share in July 2024 |
| Under 500 | 28% | 24% |
| 500-800 | 48% | 45% |
| 800-1000 | 13% | 16% |
| 1000- 2000 | 10% | 13% |
| Over 2000 | 1% | 2% |
Source: IGR Maharashtra
Shishir Baijal, chairman and managing director, Knight Frank India, said, “Pune’s residential sector remains robust, with property sale registrations showing an impressive 45% increase compared to same period last year. Stamp duty collections have surged by an astounding 47% YoY. This remarkable growth is fuelled by enthusiastic home buyers drawn to mid and premium options and a thriving business environment. The shift towards premium properties underscores Pune’s dynamic real estate transformation, bolstered by ongoing infrastructure upgrades and economic progress. Pune’s residential sector is flourishing, signalling an exciting future in real estate.”
Central Pune accounted for 79% of total residential transactions in July 2024
In July 2024, Central Pune, including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), remained the primary hub for residential transactions, maintaining a substantial share at 79%. Although still dominant, this share has slightly decreased compared to the same period in the previous year, as new supplies in other parts of the city increasingly cater to the evolving needs of Pune’s homebuyers. West Pune, encompassing areas like Mawal, Mulshi, and Velhe, secured the second-largest share of residential transactions, accounting for 11% of the total in July 2024.
Conversely, North, South, and East Pune collectively held a smaller portion of residential transactions, making up 10% of the total in July 2024.
Share of micro markets for residential property transactions
| Micro market | Share in July 2023 | Share in July 2024 |
| North | 5% | 6% |
| South | 3% | 3% |
| East | 1% | 1% |
| West | 9% | 11% |
| Central | 82% | 79% |
Source: IGR Maharashtra
| 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 |
