This time from last year, Pune, a prominent IT hub in the country records a massive hike in property ownership. In June 2024, Pune real estate registered a 60% Year-on-Year increase as 14,230 properties underwent the registration process.
These figures are according to the data shared by the Maharashtra Government’s Department of Registration and Stamp Duty– the Inspector General of Registration and Controller of Stamp (IGR).
Following this, the Stamp duty collection in June 2024, mark an increase of 90% as it raised to Rs. 528 crore from Rs.278 crore in June 2023. Similarly, in May 2024, only 11,997 properties were registered in the city. For the same, a total stamp duty of Rs. 547 crore is collected.
According to Knight Frank India, a real estate consultancy firm, out of the total property registrations, nearly 77% were for residential while 23% belonged to commercial units. In the fiscal year 2023-24, Pune city recorded registration of 1.46 lakh immovable assets. The stamp duty collection on the same is valued at Rs. 5,785 crore as per the data.
The Knight Frank India report shows in June 2024, out of all property registration transactions 33% were recorded for homes in the bracket of Rs. 55 lakh to Rs. 1 crore. However, property registration in Mumbai grew by 11 percent from June 2023 to Jun 2024. The data was shared by the Inspector General of Registration and Controller of Stamps of Maharashtra. In May 2024, the financial capital of India recorded property registration of total 12,000 properties.
