Pune Property Market Holds Steady in April 2025 Despite Minor Fluctuations

Pune’s Real Estate: A Story of Stability

April 2025 brought a sense of steadiness to Pune’s real estate market. According to the Maharashtra Inspector General of Registration (IGR), property registrations in the city reached 14,421-a modest 1% rise from 14,244 in April 2024. While this year-on-year increase may seem slight, it underscores the market’s resilience amid shifting economic tides.

Stamp Duty Collections See a Dip

Despite stable registrations, stamp duty collections in Pune district dipped by 3%, falling from ₹566 crore in April 2024 to ₹547 crore this year. The month-on-month numbers were more dramatic: registrations plummeted by 41% from March’s 24,494 figure, and stamp duty collections nearly halved from ₹960 crore in March to ₹547 crore in April. Knight Frank India attributes this trend to the cyclical nature of the market, with March traditionally seeing a surge in registrations as buyers rush to close deals before the financial year ends.

Cyclical Trends and Market Insights

This cyclical pattern is not new. Historical data reveals that March is typically a high-activity month, followed by a slowdown in April. The year-on-year drop in stamp duty revenue is also linked to a greater share of transactions in lower ticket-size segments, reflecting evolving buyer preferences.

Year-to-Date Growth Remains Positive

Looking at the bigger picture, Pune’s property market remains robust. The first four months of 2025 saw the highest property registrations and stamp duty collections in four years. Compared to the same period last year, registrations climbed 5%, and stamp duty collections rose 8%, as per Knight Frank India.

Affordable Homes Dominate, But Premium Segment Grows

A closer look at the data shows that 83% of properties registered in April 2025 were priced up to ₹1 crore, highlighting the enduring demand for affordable homes. However, the share of registrations for homes above ₹1 crore grew from 14% in April 2024 to 16% in April 2025, signaling a rising interest in premium housing. Magicbricks Pune Market Report confirms this dual trend: the market’s base remains broad, but the premium segment is steadily expanding.

Demand for Spacious Homes and Central Pune’s Dominance

The appetite for larger apartments continues to grow. Units over 800 sq ft accounted for 33% of registrations in April 2025, up from 31% a year ago, reflecting a post-pandemic preference for more space.

Geographically, Central Pune-including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC)-remained the epicenter of residential transactions, capturing 75% of the market. West Pune (Mawal, Mulshi, and Velhe) followed with 14%, while North, South, and East Pune together made up the remaining 10%.

Expert Insights and Market Outlook

“Pune’s residential market has been seeing steady demand on a year-on-year basis, even while there are minor fluctuations. Since Pune is largely an end-user-driven market, steady demand is a good barometer of the city's economic stability. We expect the general momentum of demand to remain unchanged, demonstrating long-term buyer confidence,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.