Pune’s residential market has begun 2026 on a measured note, balancing lower volumes with resilient revenues. According to the latest assessment by Knight Frank India, the city recorded 14,527 property registrations in January 2026, generating over 609 crore in stamp duty collections for the state government.
On a year-on-year basis, registrations declined 17% compared to January 2025. Stamp duty collections, however, saw a relatively smaller fall of 5% over the same period. The narrower drop in revenue compared to volumes suggests that buyers are increasingly leaning toward higher-value properties.
Sequentially, the market showed signs of recovery after the typical year-end slowdown. Property registrations rose 20% month-on-month, while stamp duty collections jumped 37% over December 2025. The rebound indicates renewed buying activity as the new calendar year gathered pace.
Industry observers note that January often reflects both carry-forward demand and fresh decisions by homebuyers who postpone purchases during the festive and year-end period. This year appears no different, with activity picking up across key micro-markets.
Demand shifts towards higher-value homes
While homes priced up to Rs. 1 crore continued to dominate registrations, their combined share moderated to 82% in January 2026. This points to a gradual but visible shift in buyer preference.
The Rs. 50 lakh - Rs. 1 crore category accounted for 29% of registrations, maintaining strong traction among mid-segment buyers. More notably, the Rs. 1 crore – Rs. 2.5 crore segment increased its share to 14%, reflecting growing demand in the premium bracket.
Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said the data indicates stability rather than weakness. “Pune’s residential market has started 2026 on a measured note, with over 14,500 property registrations and Rs. 609 crore in stamp duty collections in January. While registrations moderated year-on-year, the relatively lower decline in revenue reflects continued momentum in higher ticket-size transactions,” he said.
He added that the sharp month-on-month rebound in both registrations and collections signals renewed buying activity after the year-end lull. The shift toward mid and premium segments, along with steady demand for larger homes, suggests that end-user confidence remains intact even as overall volumes normalise from last year’s elevated base.
The data indicates that Pune’s buyer profile continues to evolve. While affordability remains important, there is increasing willingness among certain segments to invest in better amenities, larger layouts and well-connected locations.
Higher demand for larger apartments sustains
Home size distribution in January 2026 remained largely stable, with minor shifts across categories. Units under 500 sq. ft saw their share decline from 26% in January 2025 to 23% this year, indicating relatively lower preference for compact homes.
The 500–800 sq. ft category continued to dominate the market, inching up from 45% to 46% over the year. This segment remains popular among first-time buyers and smaller families seeking functional yet affordable options.
Larger configurations saw modest gains. The 800–1,000 sq. ft and 1,000–2,000 sq. ft categories each increased by one percentage point to 14%. The share of homes above 2,000 sq. ft remained steady at 3%.
Overall, the numbers reflect stability in demand patterns, with a slight tilt toward larger homes. This trend aligns with post-pandemic preferences where buyers place greater value on space, flexibility and lifestyle upgrades.
Developers in Pune have, in recent years, recalibrated their offerings to align with this shift, launching projects with improved layouts, better ventilation and community amenities. The January data suggests that such strategies continue to resonate with buyers.
Central Pune leads residential transactions
Geographically, Central Pune maintained its dominance in residential transactions. The region, which includes Haveli Taluka, Pune Municipal Corporation (PMC) and Pimpri Chinchwad Municipal Corporation (PCMC), accounted for 67% of total transactions in January 2026.
West Pune, covering Mawal, Mulshi and Velhe, held the second-largest share at 16%. North, South and East Pune together contributed 16% of total registrations during the same period.
Central Pune’s continued lead can be attributed to its established infrastructure, employment hubs and strong social amenities. Proximity to key business districts and improved connectivity have sustained buyer interest in these areas.
Market analysts believe that while peripheral micro-markets continue to grow, established zones with ready infrastructure and civic amenities remain the preferred choice for many end-users.
As 2026 unfolds, the Pune residential market appears to be entering a phase of steady consolidation. Volumes may have moderated from last year’s high base, but sustained demand for mid and premium homes, coupled with a preference for larger units, signals structural stability rather than slowdown.
