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Pune Property Capsule 2018 Pune Yoy Capital Price Movement in Popular Localities of Pune

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Pune Property Capsule 2018 Pune Yoy Capital Price Movement in Popular Localities of Pune 99acres India’s No.1 Property Portal PUNE PROPERTY CAPSULE 2018 PUNE YOY CAPITAL PRICE MOVEMENT IN POPULAR LOCALITIES OF PUNE 6% Property prices in Pune failed to record any GROWTH INDUCERS GROWTH IMPEDIMENTS 5% improvement in 2018 owing to a downward • State’s approval to develop over 6,000 • Pune Metropolitan Region Development pressure created by plunging sales. Real affordable homes in Pune Municipal Corporation Authority’s (PMRDA) unprecedented drive 3% 3% Estate (Regulation and Development) Act (PMC) limits and nearly 60,000 homes in Pimpri to raze illegal properties in its jurisdiction 2% 2% 2% (RERA) and Goods and Services Tax (GST) Chinchwad Municipal Corporation (PCMC) limits continued to mar market sentiment. 1% 1% kept the market uncertain all through 2017 under PMAY helped boosting the affordable • The restriction put by Pimpri-Chinchwad till the first half of 2018. The affordable and housing segment Bavdhan Municipal Corporation (PCMC) to construct mid-income segments, however, showed • Fast tracking of two important metro routes – commercial units near Bus rapid transit and Undri Moshi some positive trends garnering the largest Wakad Hinjewadi to Shivajinagar in Pune and Pimpri Metro rail corridors is anticipated to Kharadi Kondhwa Hadapsar share of buyer interest in the city. As Hinjewadi to Swargate – spelled good news for the city. adversely affect commercial expansion Viman Nagar developers grappled with severe capital Koregaon Park While the foundation stone of the former was along the corridors. crunch, new launches remained low-key. laid recently, the work on the latter is almost • The grant of four FSI along the Hinjewadi- -4% Developers continued offering discounts 40 percent complete. to maximise their sales and dispose off Shivajinagar metro corridor raised serious the existing inventory, resulting in the • The proposed extension of metro corridors - environmental concerns, as it would put undue Ramwadi to Wagholi and Pune International pressure on the existing infrastructure. unsold stock declining to 80,000 units. The YOY RENTAL PRICE MOVEMENT IN Airport and Hinjewadi-Shivajinagar metro city recorded a total of 33,000 property • Subdued property sales coupled with POPULAR LOCALITIES OF PUNE route to Hadapsar - is expected to augment registrations in the third quarter alone. piling inventory resulted in price correction real estate activities in nearby localities. across micro-markets, dampening investor Subdued sales amidst slow progress of The Ramwadi-Wagholi route will pass sentiment. 6% 6% 6% infrastructure projects led to a correction in through Vadgaon Sheri, Chandan Nagar 5% 5% property prices in key micro-markets. While and Viman Nagar. 4% the year 2018 did not spell good news for • The digitisation of the building plan approval 3% 3% 3% 3% Pune’s realty landscape, a coorection in system would induce transparency in the property prices is anticipated to drive sales process apart from making it hassle-free. in the coming year. • State’s decision to withdraw the reservation of Peripheral areas such as Gahunje, Jambhul, 3.8 lakh sq ft of land in areas such as Baner and Baner Aundh Wakad Kharadi Kothrud Lonikand and Katvi Talegaon, which are the Bavdhan Kondhwa Hadapsar Balewadi for residential projects opened newer Hinjewadi emerging corridors of affordable housing, avenues for developing affordable housing in are expected to register maximum buyer the city. Pimple Saudagar traction in 2019. • PMC’s nod to IT zones in Aundh, Baner, Balewadi and Kharadi would create a plethora of new job opportunities. Along with nurturing the city’s economic and social growth, the MARKET INDICATORS move will elevate the housing demand in proximate localities. Jan-Mar 2018 Apr-Jun 2018 Jul-Sep 2018 Oct-Dec 2018 Jan-Mar 2019* Capital Values Rental Values** Residential Inventory * Projected price movement and inventory status **Rental values depict annual change in average asks for respective quarters RERA IN NEWS JUN Pune-Mumbai IN FOCUS hyperloop project inches ahead with MAY Rs 3,000 crore investment State approves Registered Projects Rs 3,513 crore for 18,996 Purandar Airport land acquisition JAN Registered Agents MahaRERA APR 17,899 establishes Appellate Tribunal; State keeps circle PMC proposes 44 rates unchanged km-long metro ring route JUL Complaints Resolved PMRDA approves 3,247 the extension of Shivajinagar- Hinjewadi Metro line to Hadapsar *Data shows approximate registrations till December 28, 2018 MAR ** Source: Maharashtra’s RERA website With 2.5 FSI, 60,000 FEB affordable homes planned in PCMC Centre allocates under PMAY DEC annual funding for Pune Metro in Union PM lays the Budget 2018-19 foundation stone of Metro 3 corridor AUG PMC approves IT zones in Aundh, Baner and Balewadi 99acres NOV India’s No.1 Property Portal PMC permits development of 6,000 budgeted homes SEP CONTACT US under PMAY OCT 0120 4879400 PMC grants FSI Civic body Monday - Friday of four along forms a panel to 9:30 AM to 6:30 PM IST Metro 3 corridor; ensure speedy redevelopment of Email: [email protected] environmentalists raise concerns old buildings.
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