Pune: Property Registrations Hit 17-Month Low in May 2025 – Stamp Duty Collections Plunge
Pune News, June 26, 2025: Pune’s real estate market faced a significant slowdown in May 2025, recording the second-lowest property registrations and the lowest stamp duty revenue in the past 17 months, according to data released by Knight Frank India.
The city registered 11,930 property transactions in May 2025, marking a 2.9% year-on-year decline compared to 12,280 registrations in May 2024. Additionally, stamp duty collections plummeted to ₹421 crore, a 4.2% drop from ₹440 crore in the same period last year.
17-Month Performance Overview
The 17-month data reveals fluctuating trends in Pune’s real estate market, with March 2025 emerging as the strongest month, recording 24,495 registrations and a staggering ₹960 crore in stamp duty revenue—the highest in this period. Conversely, May 2025 marked a concerning dip, with just 11,930 registrations and ₹421 crore in collections, making it the second-lowest in registrations (after September 2024’s 11,056) and the absolute lowest in stamp duty revenue. The market showed resilience in early 2025, with February and March posting robust numbers, but the sharp decline in May suggests a potential cooling phase. Seasonal factors, economic conditions, or policy changes may be influencing buyer sentiment, as evidenced by the 4.2% YoY drop in stamp duty revenue compared to May 2024. Analysts will closely monitor whether this downturn is temporary or indicative of a broader slowdown.
A detailed month-wise comparison highlights the fluctuating trends in Pune’s real estate sector:
Key Takeaways
- March 2025 saw the highest registrations (24,495) and stamp duty revenue (₹960 crore) in this 17-month period.
- May 2025 recorded the lowest stamp duty collections and the second-lowest registrations, just above September 2024 (11,056).
- The decline suggests a cooling demand in Pune’s real estate market, possibly due to economic factors or policy changes.
Industry experts suggest that rising interest rates, reduced buyer sentiment, or seasonal fluctuations may have contributed to the slump. Analysts will closely monitor June 2025 data to determine if this is a temporary dip or a prolonged trend.
