November 30, 2023

REA Report on Pune Property Sales

Comment by Mr. Rohan Pawar, CEO of Pinnacle Group “This quarter has been witnessing a surge in property registrations and that’s great news for the Pune real estate market. Despite of the rise in the property prices due to 1% metro cess, the demand continues to be robust. Consumers are rushing to invest in properties as the prices are still attractive but there is a lingering fear of further rise in the interest rates causing home prices to remain on the upward trajectory. Additionally, reduction in stamp duty, all-time-low home loan rates and payment flexibility has helped Pune real estate market to grow stronger in the past two years. Today, homebuyers are also willing to buy a second home in Pune in light of the current real estate development rate. The year 2022 is likely to break several existing records in the Pune housing market. There will be newer benchmarks in terms of connectivity, infrastructure, locality, projects, neighborhood, amenities, configuration and more such important factors that buyers consider before making the purchase decision. That being said, there might be a substantial impact on property registrations should the interest rates go higher.”

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