The Pune real estate market experienced a significant decline in property registrations in January 2026, reflecting a 17% drop year-on-year (YoY). The total registrations fell to 14,527, down from 17,449 in January 2025. This decrease was accompanied by a modest reduction in stamp duty collections, which saw a five percent decline, amounting to ₹609 crore compared to ₹638 crore in the same month of the previous year. These figures were reported by the Inspector General of Registration and Controller of Stamps, Maharashtra, highlighting a challenging start to the new year for the local property market.
Despite the yearly downturn, both property registrations and stamp duty collections showed positive growth on a month-on-month (MoM) basis. In December 2025, the Pune market recorded only 12,079 registrations along with stamp duty collections of ₹444 crore, according to a report from Knight Frank India. This upward trend in January suggests a rebound in market activity following the typical slowdown seen at year-end. Shishir Baijal, Chairman and Managing Director of Knight Frank India, noted that the relatively slight decline in revenue indicates sustained momentum in higher-value transactions, pointing towards a resilient demand among buyers.
The real estate landscape in Pune appears to be shifting, with a noticeable shift towards mid and premium housing segments. Demand for larger homes remains steady, reflecting a strong end-user confidence despite the normalization from the elevated volumes of the previous year. The report indicated a slight increase in the share of larger homes, with properties sized between 800-1,000 sq ft and 1,000-2,000 sq ft both rising by one percentage point to 14%. Meanwhile, homes exceeding 2,000 sq ft maintained a steady share of three percent. These trends suggest that buyers are increasingly favoring larger living spaces, which may be a response to changing lifestyle preferences.
In terms of geographical distribution, Central Pune continues to dominate residential transactions, accounting for 67% of the market share. This area includes the Haveli Taluka, Pune Municipal Corporation (PMC), and Pimpri Chinchwad Municipal Corporation (PCMC). Following Central Pune, West Pune, which encompasses Mawal, Mulshi, and Velhe, captured 16% of the market. The remaining 16% was divided among North, South, and East Pune. These data points indicate a concentration of real estate activity in specific locales, underlining the importance of location in the current market dynamics. Overall, while the January figures reflect a YoY decline, the month-on-month growth suggests a potential recovery in buyer sentiment and market stability as the year progresses.