Updated December 17th, 2023 at 21:11 IST

Pune property registrations jump 7% in November: Knight Frank

Property registrations in Pune reached 14,607 units in November, experiencing a surge from 13,694 registrations in November 2022, driven by heightened demand.

Reported by: Business Desk
Demand boosts Pune property registrations by 7% | Image:Pixabay
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Property registrations in Pune experienced a 7 per cent annual increase In November, reaching 14,607 units, driven by heightened demand, according to Knight Frank India. The data, compiled from Maharashtra government sources, revealed a surge from 13,694 registrations in November 2022. Stamp duty collections for the same month amounted to Rs 473 crore, with the cumulative value of registered properties totaling Rs 13,342 crore.

From January to November 2023, Pune recorded a 9 per cent YoY rise in property registrations, reaching 137,217 units compared to 125,702 in the same period the previous year. Stamp duty collections for this period increased by 10 per cent, reaching Rs 4,779 crore from Rs 4,344 crore in the corresponding period of the previous year.

The overall value of registered properties in Pune demonstrated a 38 per cent YoY increase, reaching Rs 106,562 crore during the initial eleven months of 2023. 

Shishir Baijal, Chairman and Managing Director of Knight Frank India, emphasised the enduring strength of Pune's real estate market, attributing it to the positive aspiration for homeownership and an attractive affordability setting. 

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"As the infrastructure improves and economic activity increases, the Pune residential market continues to fortify its robust foundation for a thriving residential market," Baijal said.

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Published December 10th, 2023 at 16:15 IST