Pune real estate appreciates rapidly
Pune real estate appreciates 30% in one year. People are rushing in to book apartments that will not be ready for possession even upto two years.Supply is however running dry on the eastern side in areas like Viman Nagar where they stand at rupees 2000-2500/ sq ft as compared to rupees 1300 - 1800/ square foot a year back and can go as high as rupees 4000 in Kalyani Nagar. On the west, in places like Aundh, Baner, prices are between rupees 1900 - 2400/ sq ft. These prices were at rupees 1400 - 1800/sq ft till one year back.
However there is hardly any availability of land or apartments in these areas. Over 90%of residential property in Pune is already sold out but this may have a lot to do with investors cornering limited supply. Experts predict that with falling supply and a buying frenzy prices in the city will continue to accelerate at about 20-25% over the next 8 - 12 months. (MoneyControl.com)
By INRnews Correspondent
By INRnews Correspondent
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