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.
|