Home Sales in Pune Down 8% in January 2025, But Stamp Duty Revenue Holds Strong
Home Sales in Pune Down 8% in January 2025, But Stamp Duty Revenue Holds Strong
Home sales in Pune have seen a dip this year. In January 2025, a total of 16,330 homes were sold, marking an 8% decline compared to the same month last year. The demand for homes priced between ₹25 lakh and ₹1 crore has dropped. However, sales of homes above ₹1 crore have increased.
A report by Knight Frank India on Pune’s real estate sector highlights this trend. In January 2024, 17,786 homes were sold, whereas this year, sales were 1,456 units lower. Despite this decline, stamp duty revenue remained stable, reaching ₹590 crore, slightly higher than ₹589 crore last year. The increase in high-value property sales has balanced the revenue.
Price-Wise Breakdown of Sales
– Homes above ₹1 crore: 15% of total sales (up from 13% last year).
– Homes under ₹25 lakh: 24% of total sales (up 2% from last year).
– Homes between ₹25-30 lakh: 30% of total sales (down 2% from last year).
– Homes between ₹50 lakh and ₹1 crore: 31% of total sales (down 2% from last year).
The drop in mid-range home sales suggests buyers are cautious about spending. Meanwhile, affordable housing and luxury properties continue to see stable demand. Experts believe factors like interest rates, economic conditions, and market sentiment are influencing these trends.
