Pune ideal for residential projects

While the building and construction activities are slowing down in major cities like Mumbai, Delhi, Chennai and Bangalore because of property overpricing, lesser demand, inflation, high EMI and stern and lengthy government approval procedures, Pune has maintained a consistent growth. A real estate research firm confirmed this in a study conducted on construction and building activities in six metro cities across India.

According to the data, the number of new projects this year compared to the last year is less. The developers have sold most of their present under-construction stock to investors after taking the to¬ken amount. The firm also confirmed the presence of around 1,200 delayed residential projects in six metros- Delhi, Mumbai, Pune, Hyderabad, Chennai and Bangalore.

The secret behind this consistent growth of Pune market is mainly because the nature of the market. It is driven by consumer’s interests and not with investor’s interest. Unlike the other markets that exist in metros, it is not a highly inflated market and the rate of appreciation is low.