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As surveyed Pune homes will sell the fastest
Author Name:Sanjay KumarPublished Date:Wed -07 Nov 2012
Category:Finance

As study showed by Liases Foras near about 430 Lakh sq ft will be sold in next 14 months.
Pune being the genuine space for home buyers and tops the list of six metro regions in the country including Mumbai and NCR as far as pace of sale is concerned as showed by recent survey by real estate rating and research consultant Liases Foras.


The current pace of shopping for Pune homes are sold the fastest, taking simply fourteen months to sell its 43.06 million (430 Lakh) sq ft, the survey states. RBI cutting lending rate to banks last month has led to reasonable home loans, boosting the sales additional.


As Pune real estate is a genuine buyers rather than investors market. Market of
residential property in Pune has always been up and will continue to go up as said by the President of CREDAI-Pune Metro Mr. Satish Magar. The supply is as per demand and they have the good number of genuine buyers rather than investors unlike other metros.


As studied, the residential units in Mumbai Metropolitan Region (MMR)- Mumbai, Thane, Kalyan and Navi Mumbai- the National Capital Region (NCR), Pune, Hyderabad, Bangalore and Chennai.


CREDAI Vice President Mr. Rohit Gera has conducted a survey in Pune city that the realty market of Pune has always been considered very lighthearted. The overall supply position as published by shows that 80% gets sold out this very healthy position and part of the reason Pune has seen s sharp increase in buyers.


Property in Pune has not seen any sharp increase in prices as against other markets. It’s a reasonable mature market and one has not seen any sudden and sharp or indiscriminate price rise and developers have been keen on not raising prices too much. As taking into consideration the present rates of property in Pune one sees continuous buying and selling in the market has always been an active one.


While the Mumbai mat be second to Delhi in unsold homes, has also been assessed that a steep rise in interest rates in the last 18 months was a key reason for low sales as buyers try to avoid high home loans. RBI rate cut has been to the advantage for the Pune market in particular as said by the broker in Kothrud area that has seen a lot of buying and selling of
residential property in Pune.


The prices of property in Pune are definitely lower, as stated by IT Professional, Mr. Rohit Rao who shifted from Mumbai to Pune and bought a
property in Pune. As comparing to Pune the realty market of Mumbai is beyond our reach.


Although Pune being closer to Mumbai the real estate market sees higher sales in residential units despite having just half the units built in Mumbai because of high costs in Mumbai. The land value is additionally higher in Mumbai pushing up residential property prices. The report says by Liases Foras, Bangalore with 71.29 million sq ft and Chennai 42.75 million sq ft of unsold homes are cleaned in twenty months. But in Hyderabad it may take 38 months to sell its 33.82 million sq ft of residential units as political unrest in the city pulls down buyers sentiment. According to MCHI-CREDAI, there are nearly 500 projects awaiting environmental clearance.

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