Pune Property Sale Registrations Mark 3% Increase

Stamp duty collections for the month totaled to Rs 592 crores, reflecting a 40% year-on-year (YoY) rise in August 2024. This surge underscores the growing confidence of homebuyers in Pune, fueled by improved affordability and positive outlook towards property ownership. 

In the first eight months of 2024, Pune's residential sector saw strong property registration growth. The city recorded 127,108 property registrations, reflecting a substantial 40% increase compared to the same period in 2023. Stamp duty collections from these registrations also saw a remarkable rise, exceeding INR 4,736 crores, representing a 47% YoY growth. Homes valued INR 1 crore and above saw increased demand in August 2024. Pune’s housing market witnessed a strong surge in August 2024, with a 9% YoY rise in registrations, driven by demand for mid-range and luxury properties. Rs 50 lakhs - 1 Cr segment accounted for the largest share, reflecting a preference for bigger and more premium homes. The luxury segment- INR 1cr and above, also experienced a notable rise in both volume and share. 

Share of apartments above 800 sq ft grew from 28% in August 2023 to 32% in August 2024 as the trend to buy bigger apartments has sustained post the pandemic experience. Conversely, North, South, and East Pune collectively held a smaller portion of residential transactions, making up 7% of the total in August 2024.