The affordable alternative to Mumbai’s luxury properties, Pune, has been garnering the interest of buyers for a long time now. Last quarter, the city caught the eyeballs of real estate experts in another parameter.
As per the Apr-Jun 2015 edition of the Housing Sentiment Index (HSI), a joint initiative by IIM-B and Magicbricks, Pune noted positive sentiments for properties priced in the range of Rs 2-5 crore. It is the only city across the country which has registered the most optimistic sentiments in this price category.
As per HSI, Pune is the best city to invest in, second only to Hyderabad. The main reason can be traced to the fact that a steady housing demand comes from the IT and manufacturing sectors. Also, the relatively affordable pricing compared to Mumbai is also driving Pune’s realty so far.
Mid-segment properties most in demand
HSI indicates that the Rs 40-60 lakh price range is the most preferred category among Pune residents, closely followed by the Rs 20-40 lakh price segment. Over 25 per respondents voted for both the budget segments. However, overall, the sentiments captured for each of these segments remained negative. Thus indicating that despite the availability of affordable residential options, buyers still favour property prices to come down.
As per Magicbricks data, currently, there are over 11,000 property options available that are priced below Rs 40 lakh. In fact, there are over 500 projects offering options in this specific budget range.
Source - ET
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