Pune is one of the largest and well-known metro cities of India, which always remain
in the news headlines for a variety of causes. Particularly, when it comes to the real estate market of Pune, it has been performing very well since the past decade, although incidentally, like every Indian city, the city of Pune has not been left intact of the blow of the nationwide demonetization, which took place the last month in November 2016.
The demonetization is a momentous step undertaken by the Prime Minister Narendra Modi in the effort to iron out the country’s major critical issues viz. black money, corruption, and terrorism. This undertaking although will bring forth the critical consequences for the real estate sector. Let us see what it has in the offing for one of the major Maharashtrian city Pune. Today, in addition to Bangalore, Pune is recognized the next hub of Information Technology. The real estate market of Pune has been doing very well since the past few years. The high-tech city has been witnessing the ups and downs in real estate sector in the wake of demonetization that is still sweeping across nationwide.
Every realtor is curious to learn like what effect would the demonetization put on the market, which is also as massive as some of the markets in the other parts of India such as Delhi, Bangalore, Kolkata etc. Well, most experienced realtors now contrive that the step will be a favourable boon for potential investors or buyers and they will have an upper hand on the developers in Pune
. The developers in Pune will most decidedly be going through the lack of currency notes and with that said, they will most probably be keen to negotiate with a buyer who appears to be serious about purchasing the property available for sale. The ongoing realestate projects in Pune
will witness a massive impact. The downtown part of the city as well as some posh suburbs of the city, which are known for their sumptuous villas and houses, will plummet in terms of price rates.
So now, as a real estate investor or buyer, whether you are looking to buy residential or commercial projects in Kharadi, Baner etc. or highlands NA plots for sale in Pune will now be relatively cheaper than the usual ones for the next few months. However, the word of caution at the crossroads is that not all every seller will sell his/her properties under the existing circumstances. A buyer can only make the most of the demonization opportunity if a miserable sale takes place. Buyers although who are specifically searching for spic and span properties should not expect the price rate will plummet sooner or later. However, for those who are seriously looking for a home, the builders will be ready for a bargain on some deals and this way, it could prove valuable to the buyers. In short, the next coming six months will be high time for the property seekers to own a property in Pune. An off-putting wave is already sweeping across the realty industry now. So buyers can make hay while the sun shines. They can start looking for homes in specific Pune areas, which they may have traditionally ignored in the wake of the exorbitant pricing.