Pune Real Estate Sees Shift to Larger Homes
Pune’s real estate market, while witnessing a modest slowdown in overall transactions, is showing an interesting shift in buyer preferences as luxury homes and larger properties continue to dominate the landscape. Data released by the Maharashtra Inspector General of Registration (IGR) highlights a slight dip in property registrations in January 2025, with a year-on-year decline of 8%. Despite this, the total revenue from stamp duty remained stable, showcasing resilience in the high-value property segment.
January 2025 recorded 16,330 property registrations compared to 17,786 in January 2024. While the drop in transaction volume is notable, the stability in stamp duty revenue—standing at INR 590 crore, virtually unchanged from INR 589 crore in the same period last year—suggests that the demand for high-value properties has been strong. Analysts attribute this to a growing preference for luxury homes priced above INR 1 crore, a segment that has gained significant traction in PuneKnight Frank India, a leading real estate consultancy, points out that the share of properties priced above INR 1 crore has increased from 13% in January 2024 to 15% in January 2025. This shift signals a change in buyer behaviour, with more consumers willing to invest in premium homes, a trend accelerated by evolving lifestyle preferences and a growing demand for larger, more spacious living environments.
The demand for larger homes, particularly those exceeding 800 square feet, has also seen a steady rise. According to the same report, the share of apartments of this size increased from 28% in January 2024 to 31% in January 2025. This shift is in line with post-pandemic trends, where homebuyers are prioritising larger living spaces to accommodate a new way of life that blends work, leisure, and family time within the home.Central Pune remains the dominant hub for residential transactions, accounting for 81% of the total market share in January 2025. However, this marks a slight dip from previous years, suggesting that new housing developments in other parts of the city are beginning to draw more interest from buyers. West Pune, covering areas such as Mawal, Mulshi, and Velhe, secured the second-largest share, contributing 12% of the transactions.
The demand from North, South, and East Pune remained comparatively modest, with these regions collectively making up only 7% of the market activity.
The increased interest in larger homes and high-value properties reflects broader changes in buyer priorities, with many opting for homes that align with sustainable living, energy efficiency, and eco-friendly designs. As more developers respond to these shifts by launching new projects that focus on larger units, modern amenities, and green technologies, Pune’s housing market is poised for a new chapter. The emphasis on creating spaces that contribute to zero net carbon goals and integrate gender-neutral design principles is expected to shape the future of the city’s real estate landscape.
Despite the moderation in property transactions, experts believe that the Pune real estate market is still on a firm footing. Economic factors such as potential reductions in home loan interest rates, along with a steady supply of new developments meeting the demand for premium, larger homes, are expected to keep the market stable. As homebuyers continue to prioritise quality over quantity, the shift toward luxury and spacious homes in Pune signifies a broader trend of changing preferences that could define the market in the years to come.
The Pune real estate market’s resilience amidst these changes offers a glimpse into a more sustainable, high-value future for the city. The focus on creating homes that are both spacious and environmentally conscious could set new standards for residential development, making Pune a key player in India’s evolving housing sector.
