While the real estate market across the country is battling slow down, realtors in Pune Metro say the local market is not affected.
Addressing a press conference on Tuesday, Shrikant Paranjape, Vice-President, Credai, Pune Metro, said there is a four- five month waiting period for affordable housing in the area.
"Traditionally, as many as 70,000 flats hit the market every year, which peaked to 2.5 lakh a year during boom time between 2006 and 2008. Now, we see 1.5 lakh flats in the market every year," he said. The flats in question are in the range of Rs 10-30 lakh and are constructed in the areas between Wagholi and Talegoan.
Speaking about the demand and supply, Paranjape said barring 2007 there has been no reduction in demand.
"We have been hearing a lot about the proposed price correction in the real estate market but to my knowledge no such thing has happened in Pune," he said.
He, however, said the commercial real estate market has been witnessing a slow down.
He said Pune happens to be a preferred destination of one-time investors who wish to have a second home in the city. "The locked houses people talk about are such investors. There is no unsold stock in Pune market," he said.
He added the demand for housing is high and would keep increasing in the years to come.
In order to enhance the promotion of trade, technology and knowledge from foreign countries, Credai, Pune Metro announced the formation of International Business Forum.
The first-of-its-kind meeting would be held in South Korea, where Credai, Pune Metro, is going on a study tour soon. source indian Express
Addressing a press conference on Tuesday, Shrikant Paranjape, Vice-President, Credai, Pune Metro, said there is a four- five month waiting period for affordable housing in the area.
"Traditionally, as many as 70,000 flats hit the market every year, which peaked to 2.5 lakh a year during boom time between 2006 and 2008. Now, we see 1.5 lakh flats in the market every year," he said. The flats in question are in the range of Rs 10-30 lakh and are constructed in the areas between Wagholi and Talegoan.
Speaking about the demand and supply, Paranjape said barring 2007 there has been no reduction in demand.
"We have been hearing a lot about the proposed price correction in the real estate market but to my knowledge no such thing has happened in Pune," he said.
He, however, said the commercial real estate market has been witnessing a slow down.
He said Pune happens to be a preferred destination of one-time investors who wish to have a second home in the city. "The locked houses people talk about are such investors. There is no unsold stock in Pune market," he said.
He added the demand for housing is high and would keep increasing in the years to come.
In order to enhance the promotion of trade, technology and knowledge from foreign countries, Credai, Pune Metro announced the formation of International Business Forum.
The first-of-its-kind meeting would be held in South Korea, where Credai, Pune Metro, is going on a study tour soon. source indian Express
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