With India’s economy finally growing its pace, Pune’s real estate market is now slowly witnessing a move in the forward direction in regard to the residential sector with a high rise in new residential launches. As prices are now stable and cheap after the announcement of the new set of rules in the Union Budget 2017, experts say that the auspicious occasion of Gudi Padwa will set a right tone in the minds of buyers to set their pace in investing new property in Pune.
With the storm of demonetisation slowly calming and settling down, Pune real estate is again starting to gather its momentum now. Gudi Padwa, according to experts is expected to give the sector a high increase in demands as residents of Maharashtra prefer home investments on the day. After slowly following this upward movement, Pune’s real estate market is expecting the past inquiries to be smoothly translated into sales. It has been noted that Pune has a huge unsold inventory of its real estate has slowed down since the past one and half years. Even those who cannot afford flats are inquiring for cheap 1bhk Flats in Pune in a relief of low-interest rates from banks and affordable schemes carried forward to them.
After the wonderful festive period, the real estate saw an exhausted inquiry inventory and a piled up sales record. This was due to the belief of auspicious occasion and the pocket-friendly schemes as after demonetization, real estate was one of the major sectors among many to be harmed by the cash crunch. Nevertheless, now as the cash flow in the bank is back to normal, the pace of remonetization has grown up faster than it was actually expected. Again, realty market in India has witnessed some big reforms like Benami Transactions Bill, RERA, or GST which are directly aimed at giving the sector of residential spaces transparency and more credibility.
It has been clearly seen in the country that a big investment like gold or property is considered more sentimentally than economically. Therefore the festive occasion added on to the sentiments and increased the sale to next level. Gudi Padwa, which marks a New Year in Maharashtra saw a huge increase in the sales as well as the new launched by reputed builders and developers of the state. Many people book their new homes or host housewarming parties in this occasion. Thus, Maharashtra real estate defines it as its level best on this day.