Pune's property market in November 2023 witnessed a 6.7% YoY increase in registrations, totalling 14,607 units. Stamp duty collections for the month reached Rs 473 crores, contributing to a cumulative property value of Rs 13,342 crores. YTD registrations showed a robust 9.2% growth, with 137,217 properties registered. The upper segment, properties valued at Rs 1 crore and above, notably increased its market share from 9% to 13%. Central Pune dominated with a 77% market share in residential transactions. Homebuyers aged 30-45 years constituted the largest segment at 52%, indicative of Pune's robust end-user market.
In its latest evaluation, Knight Frank India shows a sustained year-on-year surge in property registrations across the Pune region. November 2023 witnessed a significant 6.7% rise compared to the same period last year, with 14,607 units registered this November, surpassing the 13,694 registrations in November 2022. Concurrently, the aggregate stamp duty collections for November 2023 reach a substantial Rs 473 crore, contributing to the cumulative value of registered properties, which stands at Rs 13,342 crore.
On a year-to-date (YTD) basis, Pune records a robust 9.2% overall growth, with a total of 137,217 property registrations—an appreciable increase from the 125,702 registrations in the same period last year. Stamp duty collections till November 2023 exhibit a concurrent 10% surge, reaching Rs 4,779 crore compared to the previous year. Simultaneously, the cumulative value of registered properties in Pune experiences a substantial year-on-year surge of 38.5%, reaching an impressive total of Rs 106,562 crore during this period.
In November 2023, 33% of all transactions in the housing market were residential units priced between Rs 25 lakhs and Rs 50 lakhs. Similarly, properties in the Rs 50 lakhs to Rs 1 crore bracket secured a noteworthy 32% market share, closely following the Rs 25 lakhs to Rs 50 lakhs category. Remarkably, the upper market segment, with properties valued at Rs 1 crore and above, experienced a surge in market share, rising from 9% in November 2022 to a notable 13% in November 2023, highlighting a discernible preference for properties within this premium pricing tier.
Area wise, in November 2023, units ranging from 500 to 800 square feet marked apartment preferences, capturing a substantial 45% market share. Simultaneously, apartments below 500 square feet comprised 27% of transactions and secured the position of the second most favoured size for apartments. Notably, larger apartments exceeding 800 square feet witnessed a considerable increase in market share, climbing from 23% in November 2022 to 29% in November 2023.
Geographically, Central Pune, covering Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC), remains dominant in residential transactions with a significant 77% market share. Although prevalent, this share sees a slight decline compared to the same period in the previous year. West Pune, including areas like Mawal, Mulshi, and Velhe, holds the second-largest share at 12% of total residential transactions in November 2023. Conversely, North, South, and East Pune collectively command a smaller share of residential transactions, constituting 11% of the total in November 2023.
The demographic landscape of homebuyers reveals a predominant presence of individuals aged 30 to 45 years, commanding a substantial market share of 52%. Those under the age of 30 constitute 26% of the market share, while homebuyers in the 45- to 60-year-old age category represent 17%
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