Despite a 3.9% hike in Ready Reckoner (RR) rates in April 2025, Maharashtra’s property market has shown impressive resilience. In Q1 FY 2025–26 (April–June), property registrations reached 11.33 lakh, marking a 4.5% year-on-year increase. Corresponding revenue collections stood at ₹12,783.8 crore, up 2.3% from the previous year.
Rather than slowing demand, the rate hike appears to have prompted buyers to accelerate decisions, particularly in metro hubs like Pune, where confidence in long-term value remains high. Steady demand across mid-to-premium segments has helped maintain momentum even amid rising valuation benchmarks.
Monthly Performance Snapshot:
- April 2025: ~3.71 lakh registrations (+10.4% YoY), ₹3,747 crore revenue
- May 2025: ~3.82 lakh registrations (+0.4%), ₹4,737 crore (+9.3%)
- June 2025: ~3.80 lakh registrations (+3.4%), ₹4,300 crore (+2.3%)
Key Market Drivers:
- Anticipation of further rate increases driving pre-emptive buying
- Pent-up demand from end-users in Tier-1 cities
- Strong urban traction from premium and upper mid-segment homebuyers
- Festive sentiment and improving ease of registration processes
Structural Policy Reforms:
- Micro-zoning underway in Mumbai and Pune to reflect localized valuations more accurately
- Rollout of One-State-One-Registration and intra-district portability systems in progress
Spotlight on Growth Corridors:
Areas such as Tathawade, Punawale, and Hinjawadi have remained resilient despite RR rate hikes, supported by infrastructure upgrades and IT corridor proximity. Projects positioned in these micro-markets, offering larger layouts and lifestyle-driven amenities, have sustained momentum. Premium residential developments like those in the Imperio Towers continue to attract value-conscious end-users looking for quality and location assurance.
Outlook:
Pune’s steady performance reaffirms its position as a high-potential residential hub. As regulatory clarity improves and micro-zoning expands, transaction transparency and buyer confidence are expected to rise further.
