Property registrations in Pune surged by 46% year-on-year in January 2024, totaling 17,700 units compared to 12,166 in January 2023, according to the Maharashtra government’s Department of Registrations and Stamps. Stamp duty collections for the same period also witnessed substantial growth, reaching INR 589 crore compared to INR 441 crore in January 2023. Notably, residential units priced between INR 50 lakh and INR 1 crore dominated transactions with a 32% market share, followed closely by units priced between INR 25 lakh and INR 50 lakh at 31%. The data reflects a thriving real estate sector in Pune across various price ranges, apartment sizes, and buyer demographics.
Property registrations in Pune experienced a rise of 46% year-on-year in January 2024, totaling 17,700 units compared to 12,166 in January 2023, as reported by Maharashtra government’s Department of Registrations and Stamps. Stamp duty collections for the same period also saw substantial growth, reaching INR 589 crore compared to INR 441 crore in January 2023.
A notable trend in the market is the preference for residential units priced between INR 50 lakh and INR 1 crore, which constituted 32% of all housing transactions in January 2024. Following closely behind, properties priced between INR 25 lakh and INR 50 lakh held a 31% market share. The higher value segment, comprising properties priced at INR 1 crore and above, witnessed a rise in market share from 10% in January 2023 to 14% in January 2024, indicating growing interest in this price range.
In terms of apartment sizes, units within the range of 500 to 800 sq ft dominated with a substantial 41% share of transactions in January 2024. Apartments under 500 sq ft also garnered significant attention, comprising 33% of transactions, while larger apartments exceeding 1,000 sq ft saw their market share increase from 12% in January 2023 to 14% in January 2024.
The majority of homebuyers in Pune fall within the age group of 30 to 45 years, constituting the largest buyer segment with a substantial 54% share of the market. Those under 30 years accounted for 24% of the market share, while homebuyers in the 45 to 60 years category represented 16% of the market. This demographic distribution indicates a strong demand for residential properties among middle-aged individuals.
Overall, the data paints a picture of a thriving real estate sector in Pune, driven by increasing demand across various price ranges, apartment sizes, and buyer demographics.
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