Unsold properties in Pune give options to buyers
A good news for prospective buyers in Pune! With the piling up properties in Pune, there is a good number of options for buyers to choose from.
These inventories which have been piling up for a while also give the buyers an opportunity to bargain and get lucky with their dream homes.
Real estate in Pune has seen a largely stable price trend over the past 5-6 months. As per reports by Cushman & Wakefield, it has mentioned that through out 2012, Pune witnessed a substantial increase in launches.
However, the last quarter witnessed a fall of approximately 60 percent in number of unit of launches as compared to previous quarter. The main reason they cited is due to the developers becoming cautious of building of high inventories with no demand.
One of the esteemed builders with 70 properties for sale in Pune claimed that there is a mismatch between the prices of new constructions and the budget of buyers.
Even, most popular real estate destinations in Pune West like Hinjewadi, Wakad, Nilak and Saudagar saw a drop in demand for new properties.
Most developers are launching new 2 BHK apartments in Pune at a price range of Rs 65 lakh to Rs 70 lakh. However, buyers mostly have a budget of Rs 50-60 lakh. The same situation is seen in case of 1 BHK apartments where Rs 30-35 lakh is the average price while buyers have budget of Rs 20-25 lakh.
Furthermore, experts say that sentiment in the city is largely positive and demand continues to be positive.
Pune West is one of the sought after areas in the city due to the proximity to Hinjewadi IT Park and the industrial hub of Pimpri Chinchwad. The rates per sqft in this locality have gone up by 20%. Some of the developers have reduced the ticket size of 2BHK apartments from 1,200-1,250 sq ft to 900-950 sq ft while keeping prices attractive for buyers.
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Hey, Nice post and its really interesting ….