Pune records 14,421 property registrations in April 2025; generates Rs 547 crores in stamp duty revenue: Knight Frank India
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76,389 properties registered generating over INR 2,858 cr in stamp duty in Jan – April 2024
Pune, May 16, 2025: Knight Frank India, in its latest assessment, noted that Pune’s real estate market registered 14,421 property transactions in April 2025, generating INR 547 crore in stamp duty revenue. While property registrations saw a slight year-on-year (YoY) increase of 1%, stamp duty collections dipped marginally by 3% YoY during the same period. The decline in stamp duty revenue is primarily attributed to a higher share of registrations in lower ticket-size segments.
Property registrations, Value of property and Stamp duty collection
| Year | Month | Total Registration | Stamp Duty Collection (INR Cr) |
| 2024 | January | 17,786 | 589 |
| 2024 | February | 18,791 | 662 |
| 2024 | March | 22,189 | 822 |
| 2024 | April | 14,244 | 566 |
| 2024 | May | 12,280 | 440 |
| 2024 | June | 14,690 | 545 |
| 2024 | July | 13,731 | 521 |
| 2024 | August | 13,645 | 599 |
| 2024 | September | 11,056 | 508 |
| 2024 | October | 20,894 | 751 |
| 2024 | November | 13,371 | 475 |
| 2024 | December | 17,348 | 620 |
| 2025 | January | 17,449 | 638 |
| 2025 | February | 19,025 | 713 |
| 2025 | March | 24,494 | 960 |
| 2025 | April | 14,421 | 547 |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Property registration and Stamp duty collection
| Period | Registrations (Units) | Stamp duty collection (INR cr) | |||
| Apr-24 | 14,244 | 566 | |||
| Apr-25 | 14,421 | 547 | |||
| YoY Change | 1% | -3.4% |
On a month-on-month (MoM) basis, both property registrations and stamp duty collections in Pune fell by 43%. However, this trend appears to be cyclical, as historical data indicates that March typically records strong activity, while April tends to show a relative slowdown.
Property registration and Stamp duty collection
| Period | Registrations (Units) | Stamp duty (INR cr) | Period | Registrations (Units) | Stamp duty (INR cr) | Registrations (MoM) | Stamp duty (MoM) | ||
| Mar-23 | 21,389 | 621 | Apr-23 | 11,010 | 319 | -49% | -49% | ||
| Mar-24 | 14,309 | 822 | Apr-24 | 8,758 | 566 | -39% | -31% | ||
| Mar-25 | 25,494 | 960 | Apr-25 | 14,421 | 547 | -43% | -43% |
On a year-to-date (YTD) analysis, Pune’s property market remains stable, recording its highest property registrations and stamp duty collections for the first four months of the year in the past four years. Compared to the same period last year, property registrations rose by 5%, while stamp duty collections saw an 8% increase.
Property registration and Stamp duty collection
| Period (Jan-April) | Registrations (Units) | Stamp duty collection (INR cr) |
| 2022 | 52,823 | 1,696 |
| 2023 | 49,517 | 1,897 |
| 2024 | 73,010 | 2,639 |
| 2025 | 76,389 | 2,858 |
| YoY Change in 2025 | 5% | 8% |
Demand rises across segments in April 2025
The share of homes priced above INR 1 crore rose from 14% in April 2024 to 16% in April 2025, highlighting growing interest in premium housing. However, with properties priced up to INR 1 crore still accounting for the overwhelming majority at 83%, the overall demand remains largely anchored in the up to 1 crore segment, indicating a market that is expanding at the top while staying broad-based at its core.
Share of ticket size for residential property transactions
| Ticket size | Share in Apr 2024 | Share in Apr 2025 |
| Under INR 25 lakhs | 21% | 23% |
| INR 25 – 50 lakhs | 30% | 29% |
| INR 50 lakhs – 1 Cr | 34% | 31% |
| INR 1 Cr – 2.5 Cr | 14% | 14% |
| INR 2.5 Cr – 5 Cr | 1% | 2% |
| Over 5 Cr | <=1% | <=1% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Higher demand for larger apartments sustains
The demand for larger apartments remains strong, with the share of units exceeding 800 sq ft rising from 31% in April 2024 to 33% in April 2025. This trend underscores the continued preference for spacious homes in the post-pandemic era.
Share of area for residential property transactions
| Area in sq ft | Share in Apr 2024 | Share in Apr 2025 |
| Under 500 | 24% | 24% |
| 500-800 | 45% | 43% |
| 800-1000 | 15% | 14% |
| 1000- 2000 | 13% | 15% |
| Over 2000 | 3% | 4% |
Source: Knight Frank Research, Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Shishir Baijal, Chairman & Managing Director, Knight Frank India said, “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 economic stability of the city. We expect the general momentum of demand to remain unchanged demonstrating long-term buyer confidence.”
Central Pune contributed 76% of residential transactions in Apr 2025
In April 2025, Central Pune, including Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), maintained its lead in residential transactions, accounting for 75% of the market. However, this represented a slight decline from the previous year as emerging developments in other parts of the city catered to evolving home buyer preferences. West Pune, which includes Mawal, Mulshi, and Velhe, held the second-largest share at 14%, while North, South, and East Pune collectively contributed 10% of transactions during the same period.
Share of micro markets for residential property transactions
| Micro market | Share in Apr 2024 | Share in Apr 2025 |
| North | 5% | 5% |
| South | 4% | 4% |
| East | 1% | 1% |
| West | 12% | 14% |
| Central | 78% | 75% |
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)) |
