The real estate landscape for properties in Pune city started 2024 on an impressive note, registering a 46% year-on-year (YoY) growth in property registrations in January. According to the Maharashtra Department of Registrations and Stamps – Inspector General of Registration (IGR), 17,700 property units were registered in January 2024, up from 12,166 units during the same month in 2023.
This substantial growth reflects Pune’s increasing prominence as a preferred destination for homebuyers and investors alike. Backed by infrastructure expansion, affordability, and economic growth, properties in Pune city are attracting attention across income segments.
Stamp Duty Collections Reinforce Market Confidence
Alongside robust registrations, stamp duty collections have also surged. January 2024 recorded collections of ₹589 crore, compared to ₹441 crore in January 2023. Even in December 2023, 14,725 property registrations brought in ₹560 crore in stamp duty, indicating a steady and healthy performance month-over-month.
Data from Knight Frank India reveals that throughout 2023, a total of 152,323 properties were registered in Pune district, with stamp duty collections reaching ₹5,351 crore. These figures confirm Pune’s position as one of India’s most dynamic and thriving residential real estate markets.
Mid-Segment Properties in Pune City Lead Buyer Demand
According to Knight Frank’s January 2024 analysis, mid-segment homes priced between ₹50 lakh and ₹1 crore were the most sought-after, contributing to 32% of all transactions.
Close behind were properties priced between ₹25 lakh and ₹50 lakh, accounting for 31% of sales. These categories continue to attract first-time buyers and middle-income families, especially those exploring affordable properties in Pune city with solid future value.
Notably, luxury housing is also on the rise. Homes priced over ₹1 crore saw their market share increase from 10% in January 2023 to 14% in January 2024, indicating rising confidence in premium offerings by property developers in Pune.
Preferred Sizes: 500–800 Sq Ft Apartments Dominate
Beyond price, apartment size preferences are shaping demand trends:
- 500–800 sq ft units were the most popular, accounting for 41% of transactions.
- Apartments under 500 sq ft followed closely at 33%, reflecting demand from single professionals and nuclear families.
- Larger homes over 1,000 sq ft grew in popularity, capturing 14% of market share—up from 12% last year, showing a shift toward more spacious living.
This wide range in buyer preferences showcases the versatility of property developers in Pune, who continue to cater to evolving lifestyle needs.
Who’s Buying: Young and Mid-Age Professionals Drive the Market
The biggest driver of demand for properties in Pune city is the 30–45 age group, which comprised 54% of buyers in January 2024. Buyers under 30 contributed 24%, while the 45–60 group made up 16% of transactions.
These figures suggest that Pune’s booming job market and improving infrastructure are attracting professionals who seek stability, affordability, and long-term value in real estate.
Expert View: Pune’s Real Estate Momentum to Continue
Shishir Baijal, Chairman and MD of Knight Frank India, noted:
“Pune’s real estate market continues to thrive, driven by a strong desire for homeownership and affordability. January’s 46% YoY growth in registrations highlights deep buyer confidence. With infrastructure developments and job creation, the market for properties in Pune city is set for sustained expansion.”
His insights are echoed by leading property developers in Pune, who are increasingly launching diversified projects to meet rising demand—from affordable housing to premium gated communities.
A Promising Year Ahead for Properties in Pune City
The Pune real estate sector kicked off 2024 with confidence and momentum. Rising registrations, strong demand for mid-segment and affordable housing, and a growing share of premium homes all signal a healthy and diverse property market.
With major infrastructure projects like Pune Metro, ring road expansion, and IT park developments in progress, Pune continues to offer excellent opportunities for both buyers and investors.
Whether you’re a young professional, a growing family, or a seasoned investor, now is the time to explore the wide range of properties in Pune city. Backed by credible property developers in Pune, the city’s housing market promises both quality living and long-term value.
