HomeLatestPune Real Estate Market Surges: 25% Increase in July

Pune Real Estate Market Surges: 25% Increase in July

The Pune real estate market has experienced a remarkable surge, with property registrations rising by 25% year-on-year (YoY) in July 2024. This significant increase is indicative of the growing demand for real estate in the city. The latest data from the Maharashtra government’s Department of Registrations and Stamps reveals that 13,314 properties were registered in July, surpassing the 10,614 properties recorded in the same month last year.

This upward trend is further underscored by a substantial increase in stamp duty collections, which surged by 47% to INR 504 crore in July 2024, compared to INR 344 crore in July 2023. For the first seven months of 2024, Pune has reported a total of 113,277 property registrations, marking a remarkable 45% increase over the 2023 figures for the same period. Additionally, stamp duty collections have surpassed INR 4,127 crore, representing a 47% YoY growth, according to a recent analysis by real estate consultancy Knight Frank India. In the financial year 2023-24, Pune district registered a total of 1.46 lakh properties, generating a stamp duty collection of INR 5,785 crore. The current boom in property registrations and stamp duty collections is attributed to a burgeoning interest in mid-range and premium properties.

A thriving business environment and ongoing infrastructure developments in Pune are contributing to this dynamic real estate landscape. Knight Frank India’s spokesperson commented, “This impressive growth is driven by enthusiastic homebuyers attracted to both mid and premium property segments. Pune’s transformation, supported by infrastructure enhancements and economic progress, indicates a vibrant future for the residential real estate market.” The continued growth in Pune’s real estate market is a testament to its attractiveness as a residential and commercial hub. The city’s strong economic fundamentals, coupled with its growing infrastructure and amenities, are making it a desirable destination for both homebuyers and investors.

RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Recent Comments

Mumbai Redevelopment by Rustomjee Set to Generate Rs 4500 Crore

Mumbai Redevelopment by Rustomjee Set to Generate Rs 4500 Crore

0
Keystone Realtors Ltd, operating under the Rustomjee brand, is embarking on an ambitious 11.19-acre redevelopment project in Mumbai, projecting a substantial sales revenue exceeding...
Bengaluru Begins Mandatory eKhata Registration for 25 Lakh BBMP Properties

Bengaluru Begins Mandatory eKhata Registration for 25 Lakh BBMP Properties

0
Bengaluru has mandated eKhata registration for all properties under the Bruhat Bengaluru Mahanagara Palike (BBMP), effective from July 1, 2025. The digitisation initiative aims...
Panipat Godrej Acquires 43 Acres For Luxury Housing Development

Panipat Godrej Acquires 43 Acres For Luxury Housing Development

0
Godrej’s project, provisionally named Godrej MSR City, is planned to cover a vast 56 lakh square feet, featuring a blend of luxury apartments and...
PMAY 2.0 Backlog Prompts Bhubaneswar To Order Urgent ULB Verification

PMAY 2.0 Backlog Prompts Bhubaneswar To Order Urgent ULB Verification

0
Amid concerns over Odisha’s slow PMAY 2.0 progress, Bhubaneswar’s housing department has urged urban local bodies to expedite verification of 82,382 pending applications. With...
ARCHITECTURAL VISION AND URBAN REGENERATION AT BHENDI BAZAAR

ARCHITECTURAL VISION AND URBAN REGENERATION AT BHENDI BAZAAR

0
By FURQAN ANSARI, Design Manager, Saifee Burhani Upliftment Trust’s redevelopment project at Bhendi Bazaar. The redevelopment of Bhendi Bazaar represents an extraordinary journey that blends...