Pune’s property market data for March 2024 saw a 52% YoY increase in property registrations

 The Maharashtra government collected Rs 804 crore in stamp duty in Pune in March 2024, a 30% YoY increase from Rs 621 crore in the same month in the previous year.  

In March 2024, 21,744 properties were registered in Pune, a 52% increase from 14,309 the previous year. The Maharashtra government’s Department of Registrations and Stamps (IGR) reports that stamp duty collections during this period amounted to Rs 804 crore, indicating a 30% YoY increase. 

The sum in stamp duty collected as of March 2023 was Rs 621 crore. 

An increase in the number of properties purchased in March 2024 for more than Rs 1 crore 

March 2024 saw the largest residential unit registrations, or 33% of all housing transactions, for units priced between Rs 50 lakh and Rs 1 crore. Comparably, 32% of the market share was accounted for by properties priced between Rs 25 lakh and Rs 50 lakh. According to a Knight Frank analysis, the percentage of properties priced under Rs 25 lakh also increased significantly, rising from 16% in March 2023 to 21% in 2024. 

There was a rise in the market share of the higher value segment, which includes properties priced at Rs 1 crore and above. The proportion of properties in this category increased from 10% in March 2023 to 13% in March 2024, suggesting a growing inclination towards properties within this price range. 

An increase in the desire for larger apartments 

The market share of apartments between 500 and 800 square feet was 40% in March 2024. Comparably, units smaller than 500 square feet also garnered much attention; in March 2024, they accounted for 35% of all transactions, making them the second most popular apartment size. It demonstrated that the market share of larger apartments— those larger than 1000 square feet– stayed steady at 13%. 

“Pune’s real estate market is still growing thanks to a robust demand for homes, reasonable prices, and ideal circumstances. A notable 52% increase in registrations in March 2024 over the same month the previous year set a positive tone for the upcoming quarter, according to Knight Frank India Chairman and Managing Director Shishir Baijal.  

52% of buyers in the 30 to 45 year old range range 

Homebuyers between the ages of thirty and forty-five made up the largest buyer segment in the Pune market, with a sustainable 52% share. Homebuyers between the ages of 45 and 60 made up 18% of the market, while those under 30 made up 24%. 

The analysis revealed that professionals make up a significant portion of the market, especially in the 30-to-45-year-old age range, which is the largest segment. 

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