Pune Logs ₹7,119 Crore Stamp Duty Revenue In 2025; Property Registrations Cross 1.85 Lakh
Pune Logs ₹7,119 Crore Stamp Duty Revenue In 2025; Property Registrations Cross 1.85 Lakh
Pune, January 23, 2026: Knight Frank India, in its latest assessment, reported that Pune’s real estate market recorded 1,85,657 property registrations in 2025, marking a modest 2.3% year-on-year (YoY) decline, while stamp duty collections stood at INR 7,119 cr, remaining largely stable with a marginal 0.3% YoY increase. Despite the dip in registrations, revenue collection reached its highest level in the last four years, supported by stronger demand for higher ticket-size properties.
On a monthly basis, property registrations in December 2025 declined by 30% YoY to 12,079 units, with stamp duty collections recording a decline of 28% over the same period. 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.
Property registrations, Value of property and Stamp duty collection
| Period (Jan-Dec) | Registrations (Units) | Revenue (INR cr) |
| 2022 | 139,032 | 4,843 |
| 2023 | 152,323 | 5,352 |
| 2024 | 190,025 | 7,098 |
| 2025 | 185,657 | 7,119 |
| YoY Change | -2.3% | 0.3% |
Source: Knight Frank Research
Property registration and Stamp duty collection
| Period | Registrations (Units) | Stamp duty collection (INR cr) | |||
| Dec-24 | 17,348 | 620 | |||
| Dec-25 | 12,079 | 444 | |||
| YoY Change | -30% | -28% |
Property registrations, Value of property and Stamp duty collection
| Year | Month | Total Registration | Stamp Duty Collection(INR Cr) |
| 2024 | December | 17,348 | 620 |
| 2025 | January | 17,449 | 638 |
| 2025 | February | 19,025 | 713 |
| 2025 | March | 25,495 | 960 |
| 2025 | April | 14,421 | 547 |
| 2025 | May | 12,037 | 426 |
| 2025 | June | 16,792 | 643 |
| 2025 | July | 14,622 | 648 |
| 2025 | August | 13,253 | 485 |
| 2025 | September | 13,557 | 523 |
| 2025 | October | 12,693 | 527 |
| 2025 | November | 14,234 | 565 |
| 2025 | December | 12,079 | 444 |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
| Demand remains stable across segments in Dec 2025 |
The distribution of ticket sizes in December 2024 and December 2025 remained largely unchanged. Homes priced up to INR 1 core (cr) continued to dominate with an 85% share, reflecting steady demand at the mid and affordable end. Segments above INR 1 cr hold their ground at 15%.
Share of ticket size for residential property transactions
| Ticket size | Share in Dec2024 | Share in Dec2025 | |||
| Under INR 25 lakhs | 29% | 27% | |||
| INR 25 – 50 lakhs | 29% | 29% | |||
| INR 50 lakhs – 1 Cr | 27% | 29% | |||
| INR 1 Cr – 2.5 Cr | 13% | 13% | |||
| INR 2.5 Cr – 5 Cr | 2% | 2% | |||
| Over 5 Cr | <=1% | <=1% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated, “Pune’s residential market remained structurally stable through 2025, with annual stamp duty collections touching INR 7,119 cr 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. 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.”
| Higher demand for larger apartments sustains |
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%. Share of homes above 800 sq ft increased marginally by a percentage to 30%.
Share of area for residential property transactions
| Area in sq ft | Share inDec 2024 | Share inDec 2025 | |||
| Under 500 | 25% | 24% | |||
| 500-800 | 46% | 46% | |||
| 800-1000 | 13% | 15% | |||
| 1000- 2000 | 13% | 12% | |||
| Over 2000 | 3% | 3% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
| Central Pune contributed 67% of residential transactions in Dec 2025 |
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, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 15%, while North, South, and East Pune collectively contributed 18% of transactions during the same period.
Share of micro markets for residential property transactions
| Micro market | Share in Dec 2024 | Share in Dec 2025 | |||
| North | 10% | 8% | |||
| South | 7% | 6% | |||
| East | 4% | 4% | |||
| West | 15% | 15% | |||
| Central | 64% | 67% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR
| 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)) | ||
