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Table of Content
- Property Registrations See Marginal Year-on-Year Decline
- Stamp Duty Collections Touch Four-Year High
- December 2025 Trends Reflect Market Normalisation
- Homes Priced Up to ₹1 Crore Continue to Lead Demand
- Shift in Buyer Preference Towards Larger Homes
- Central Pune Continues to Dominate Transactions
- Expert View: Stability Over Structural Slowdown
- Outlook for Pune Real Estate in 2026
The Pune real estate market delivered a mixed yet resilient performance in 2025, marked by a marginal decline in property registrations but a steady rise in stamp duty revenues. While transaction volumes moderated from last year’s peak, higher-value deals and consistent end-user demand helped push government collections to a four-year high, underscoring the underlying strength of Pune’s housing market.
According to data from the Inspector General of Registration and Controller of Stamps, Maharashtra, Pune recorded 185,657 property registrations in 2025, reflecting a 2.3% year-on-year decline from 190,025 registrations in 2024. In contrast, stamp duty collections increased to ₹7,119 crore, marginally higher than ₹7,098 crore recorded last year.
Property Registrations See Marginal Year-on-Year Decline
The slight drop in registrations does not indicate a slowdown in Pune real estate, but rather a normalisation after the exceptionally strong activity seen in 2024. Last year had created a high base, driven by pent-up demand, stable interest rates, and strong buyer confidence.
Industry experts point out that despite the annual dip, transaction volumes in 2025 remained well within historical averages, suggesting that buyer interest continues to be steady across most residential segments.
Also Read: MMR, Bengaluru, Pune Lead 126 Land Deals Across India in 2025
Stamp Duty Collections Touch Four-Year High
Even as registrations moderated, stamp duty collections in Pune real estate climbed to ₹7,119 crore, the highest level seen in the past four years. This growth was supported by a stable share of higher ticket-size transactions and sustained demand for quality housing across established micro-markets.
The rise in revenue highlights that buyers are willing to commit to home purchases, particularly in projects offering better layouts, amenities, and connectivity, reinforcing the market’s end-user-driven nature.
December 2025 Trends Reflect Market Normalisation
On a monthly basis, December 2025 witnessed a sharper year-on-year decline, with property registrations falling by 30% compared to December 2024. Stamp duty collections during the month also declined by 28%, dropping to ₹444 crore from ₹620 crore a year earlier.
However, real estate consultants note that December 2024 was an unusually strong month. Registrations in December 2025 were only about 10% lower than the six-month average, indicating stabilisation rather than weakening demand in Pune real estate.
Homes Priced Up to ₹1 Crore Continue to Lead Demand
Affordability remained a key driver in Pune real estate throughout 2025. Homes priced up to ₹1 crore accounted for nearly 85% of total registrations, highlighting the continued dominance of the affordable and mid-segment categories.
Properties priced above ₹1 crore maintained a stable 15% share, suggesting that premium housing demand has held firm despite broader market moderation. This balanced distribution across price segments reflects the depth of genuine end-user demand in the city.
Shift in Buyer Preference Towards Larger Homes
Buyer preferences in Pune real estate showed subtle shifts in 2025. The share of homes sized below 500 sq ft dipped marginally to 24%, while the 500–800 sq ft segment remained steady at 46%.
Notably, the share of homes above 800 sq ft increased to 30%, indicating growing interest in larger living spaces. This trend is being driven by evolving lifestyle needs, hybrid work models, and a preference for better internal layouts and community amenities.
Central Pune Continues to Dominate Transactions
Central Pune remained the most active residential zone, accounting for 67% of total transactions during December 2025. Areas under Pune Municipal Corporation (PMC), Pimpri Chinchwad Municipal Corporation (PCMC), and Haveli Taluka continued to attract buyers due to established infrastructure and employment hubs.
West Pune followed with a 15% share, while North, South, and East Pune together contributed 18% of transactions, highlighting the geographic spread of demand within the Pune real estate market.
Also Read: Bombay High Court Denies Occupation Certificate Without Sewage Plants
Expert View: Stability Over Structural Slowdown
Market experts emphasise that the moderation seen in Pune real estate is a sign of maturity rather than stress. With transaction activity spread across price points, unit sizes, and locations, the market has remained balanced throughout the year.
Higher-value transactions have continued to support revenue growth, while affordable and mid-segment housing has ensured volume stability, reinforcing Pune’s reputation as an end-user-centric residential market.
Outlook for Pune Real Estate in 2026
Looking ahead, Pune real estate is expected to maintain steady momentum in 2026, supported by infrastructure development, job creation, and sustained housing demand. While short-term fluctuations may persist, the city’s diversified buyer base and balanced supply pipeline position it well for stable growth.
As the market continues to normalise after last year’s peak, Pune real estate remains one of India’s most resilient and structurally sound residential markets.
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Ans 1. Pune property registrations declined by 2.3% in 2025, falling from 190,025 in 2024 to 185,657. Experts say this is a normalisation after an exceptionally high 2024, which was driven by pent-up demand, stable interest rates, and strong buyer confidence. The slight dip does not indicate a slowdown but reflects a market settling back to sustainable levels.
Ans 2. Stamp duty collections in Pune real estate reached ₹7,119 crore in 2025, marking a four-year high. Despite a slight drop in transaction volumes, higher-value deals and consistent demand for quality homes helped maintain strong revenue. This shows buyers are still willing to invest in mid-segment and premium properties.
Ans 3. Homes priced up to ₹1 crore accounted for nearly 85% of registrations, highlighting the dominance of affordable and mid-segment housing. Properties above ₹1 crore retained a stable 15% share, indicating that demand for premium homes remains firm, even as the overall market moderated.
Ans 4. There was a subtle shift towards larger homes. Units below 500 sq ft fell to 24% of registrations, the 500–800 sq ft segment stayed steady at 46%, and homes above 800 sq ft grew to 30%. This trend reflects lifestyle changes, hybrid work models, and growing interest in spacious layouts and community amenities.
Ans 5. Central Pune led the market, accounting for 67% of December 2025 transactions. West Pune contributed 15%, while North, South, and East Pune collectively accounted for 18%. Central Pune’s dominance is due to established infrastructure, connectivity, and proximity to employment hubs.
Ans 6. Registrations in December 2025 fell 30% year-on-year, and stamp duty collections dropped 28%. However, December 2024 was unusually strong, so the 2025 figures are closer to the six-month average, reflecting normalisation rather than a real slowdown in buyer interest.
Ans 7. Experts describe the moderation as a sign of market maturity rather than stress. Transaction activity remained balanced across price points, unit sizes, and locations. Higher-value deals supported revenue growth, while mid-segment and affordable homes ensured steady volume, reinforcing Pune’s end-user-driven market.
Ans 8. Pune real estate is expected to maintain steady momentum in 2026, supported by infrastructure projects, employment growth, and sustained housing demand. The diversified buyer base and balanced supply pipeline indicate stable long-term growth, even if short-term fluctuations continue.
Ans 9. Although the number of registrations fell slightly, higher-value property sales contributed to a rise in stamp duty revenue. Buyers continue to invest in premium and well-located mid-segment homes, which boosts government collections even when transaction volumes moderate.