Pune’s real estate market is on a roll in 2024, with stamp duty collections soaring to an impressive ₹5,253 crore. The first nine months of the year saw a significant uptick in property registrations, with a 29% increase compared to the same period last year.
According to experts, this surge can be attributed to various factors such as rising incomes, positive consumer sentiment, supportive financing options, and ongoing infrastructure projects. These factors have collectively contributed to making Pune a top choice for homebuyers.
However, September witnessed a slight slowdown in property registrations, with a 33% decline compared to the previous month. This dip is largely due to the ‘Shraadh’ period, during which many individuals refrain from making large transactions.
Interestingly, there has been a noticeable shift towards the luxury segment of the market, with properties valued at ₹1 crore and above witnessing increased demand. Additionally, there is a continued preference for larger living spaces, with apartments exceeding 800 sq ft becoming more popular.
While Central Pune continues to dominate the residential market, other areas like West Pune are gaining traction. These regions, including Mawal, Mulshi, and Velhe, are attracting more buyers, indicating a diversification of the market beyond traditional hotspots.
Overall, Pune’s real estate sector is thriving, and with the continued growth and development in the city, it is expected to remain a prime destination for homebuyers in the years to come.
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