The Pune real estate market recorded 185,657 property registrations in 2025, a 2.3% year-on-year (YoY) decline from 190,025 in 2024. On the other hand, stamp duty collections stood at ₹7,119 crore in 2025, a marginal increase from ₹7,098 crore in 2024, according to data from the Inspector General of Registration and Controller of Stamps, Maharashtra.
On a monthly basis, property registrations in December 2025 declined by 30% YoY, from 12,079 units in December 2025 to 17,348 units in December 2024, while stamp duty collections declined by 28%, from ₹444 crore in December 2025 to ₹620 crore in December 2024, according to the data.
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, Knight Frank India, a real estate consultancy firm, said in its report.
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Homes priced above ₹1 crore held their ground in Pune’s real estate market
According to the report, the distribution of ticket sizes in December 2024 and December 2025 remained largely unchanged. Homes priced up to ₹1 crore continued to dominate, with an 85% share, reflecting steady demand at the mid- and affordable-end. Segments above ₹1 crore held their ground at 15%.
“Pune’s residential market remained structurally stable through 2025, with annual stamp duty collections touching ₹7,119 crore 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," Shishir Baijal, Chairman and Managing Director, Knight Frank India.
"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," Baijal said.
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Share of homes above 800 sq ft increased to 30%
According to the report, 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%. The share of homes above 800 sq ft increased marginally to 30%.
The report said that 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, including Mawal, Mulshi, and Velhe, held the second-largest share at 15%, while North, South, and East Pune collectively accounted for 18% of transactions during the same period.