When compared to 2,495 units in the April-June period of 2021, a total of 10,128 homes were sold in Pune in (Q3) 2021. This festive season, the real estate industry in Pune is hoping to woo buyers with freebies and discounts. Given the positive sentiments, many realtors have launched new projects to cash in the positive sentiments of the market.
Launches in Pune have picked up, as home buyers have regained confidence in spending, show surveys.
According to Real Insight (Residential), a total of 10,015 new units were launched in Pune during the July – September (Q3) 2021 quarter as compared to 2,810 units in (Q2) 2021 and 4,635 in (Q3) 2020, primarily owing to an improvement in the overall economic activity post the second wave of the coronavirus pandemic.
When compared to 2,495 units in the April-June period of 2021, a total of 10,128 homes were sold in Pune in (Q3) 2021. In the same period last year, only 7,107 units were sold in this market, the report compiled by real estate website PropTiger said.
Anil Pharande, President, CREDAI Pune Metro pointed out that their surveys have shown that Pune’s market has grown by almost 8 per cent in numbers of units sold. ”The real estate sector has seen crucial developments in the past 1.5 years. Factors like improvement in Covid-related situations due to timely vaccination drives, low-interest rates on home loans, stamp duty benefits for women buyers, and good offers by the developers in the festive season have come in handy for clients,” he said.
Builders have also taken the opportunity to launch new projects. Arvind Jain, CMD Pride Group talked about the launch of a new phase at Pride World City during the Navratri season. “We could sense the positivity in home buying with a good number of genuine inquiries coming and getting converted into a buying decision. People are looking for larger apartments and are ready to buy the apartment even if it is a few kilometers away from their originally preferred location,” he said.
Paranjape Schemes (Construction) Limited had seen 100 plus bookings on the last few days of Navratri and Dasara. “The number of inquiries are rising. Secondly, home buyers are taking advantage of the low-interest rates on home loans. Moreover, due to vaccination, the uncertainty created by Coronavirus is steadily reducing, which is also an important reason that positive sentiment is getting reflected in home buying,” said Amit Paranjape, Director, Paranjape Schemes (Construction) Limited.
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