Real Estate Developers In Pune - Undeterred By Global Slowdown
Although, the current global scenario is not very good for real estate developers in Pune, they have some good news to look up to. Indian real estate sector is all set to record sustainable growth, owing to the satisfactory state of the economy, which is projected to grow by 8.5 percent in the current fiscal. According to experts, investing in Indian real estate and especially in Pune real estate projects would yield great returns. It is stated by some experts that the real estate sector is offering best returns ever in the current scenario.
It is also predicted that this year, there would be an additional availability of 3 million square feet, which will further the already booming sector. The Central Statistics Office, Ministry of Statistics and Programmed Implementation estimates 8.6 per cent gross domestic product growth, which is a 0.1 percent rise from the earlier estimates. This actually means that Indian real estate sector has outperformed the primary investment sector. Also, owing to the limitless demands for home in Metro and Tier II cities, investment in residential properties seems to be the safest bet for the investors. The Tier I cities of Mumbai and Delhi and Tier II cities such as Bangalore, Pune and Chennai are seeing the highest demand by investors. The most preferred configurations are 2BHK in central areas and 3BHKs in the outskirts of the city.
Further, the newly proposed Maharashtra Housing Regulatory Development Act is a boon for the people from low-income group. With the increasing prices of the properties, owning homes have become an impossible dream for the members of middle class. Although it may not solve all the problems, it is a step in the right direction. The proposed act will safeguard the interests of the developers in Pune as well as general public. It is proposed that the developers should reserve one fifth of their total FSI for customers of low income group. This move will ensure that there is decent housing for everyone. It is yet to be seen that whether the developer of Pune would take this move positively or not, but it is necessary in the wake of the current situation. These flats would be allotted to the economically weaker section on the basis of lottery and the proceeds would be given to the builders. The MHADA will also take five percent commission in the following deal. The government has also instructed that builders should refrain from giving advertisements for their project before this act is enforced.
Is it a bad move for the real estate developers in Pune that is yet to be seen, but then most of them do social work as their CSR campaigns. The City Group headed by Aniruddha Deshpande is one of the most socially responsible developers in Pune. They are always doing social work for people with limited means. Last year they celebrated Joy of Giving Week which was an effort to bridge the gap between all the sections of the society. Amanora Park Town is a colossal township located in Hadapsar, Pune. This township has an array of apartments in Hadapsar, right from studio apartments to 4.5 BHK apartments facilitating breathtaking views of the surroundings. This project displays the expertise of City Group, one of the most skilled developers in Pune. City Group has put forth a fantastic example for all the developers in Pune with Amanora Park Town.
by: Amanora Park Town