Wednesday, April 2, 2008

Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front (?)

Press Release - Desperate attempt of Pune real estate brokers - agents or a fact?

According to broker Raju Punjabi, Astitva Real-estates,
" The investor has almost entirely exited the Pune market and the residential sector is now driven by the serious end user." Since the residential property is available for sale at high capital costs and there is a wide gap between monthly EMI and monthly rent, the end user is moving towards the affordable rental option."

The monthly rental of a 2BHK flat:

A 2BHK apartment is the maximum transacted residential property in Pune and is currently fetching a monthly rental of Rs 15,000 in posh localities such as Koregaon Park and Kalyani Nagar.

Kalyani Nagar due to its well laid out social infrastructure, good ambience and quality of life is in great demand by IT professionals.

If however the accommodation is semi/fully furnished the value goes up till Rs 20,000 per month.

In Kharadi which is an upcoming suburb of Pune, the monthly rental of a 2BHK is Rs 8-10,000 while in Viman Nagar, it is Rs 12,000.
Rental Market Driving Pune's Residential Real Estate

No comments:

Post a Comment