| Real estate slowdown has hit the property | | | | compared to the corresponding quarter last year. |
| buyers, sellers, brokers and builders. However, it is | | | | Private Pune real estate developers assert that |
| the investors who are the worst of the lot here. | | | | only serious property buyers are enquiring about |
| People who had purchased property expecting | | | | property now. Since the surplus funds on the |
| huge sums are in a for a ride shock. Not only | | | | market are not available, thanks to high home |
| have the property prices stagnated but their | | | | loans rates and stringent borrowing terms. Hence, |
| overall appreciation has also gone down. | | | | there are very few property buyers in the |
| Further, there are very few property buyers in | | | | market. The numbers have definitely dwindled. |
| the market at this point of time. Hence small | | | | Pune-based property brokers like Rohan Shetty |
| investors have much to lose while the big | | | | of Smart Properties are still optimistic about these |
| investors can still breather easy thinking that the | | | | developments. Shetty says that this downturn or |
| market conditions will improve further and their | | | | stagnation in the property segment was very |
| investments will real some profits. | | | | much predictable. Hence, it hasn't come as a rude |
| India is not the only country going through this | | | | shock for property professionals. However, such |
| crisis. Even regional property markets are | | | | tides don't last for long and he is hoping that good |
| reporting similar trends. Pune property market is a | | | | times will return in the Pune Real Estate segment. |
| case study here. Property transactions in Pune | | | | The current capital value for residential apartment |
| have recorded stagnation. | | | | in Pune ranges between Rs 3,500-Rs 4,500 per sq |
| A recent media report specified that the number | | | | ft. The rental rates for a similar apartment are |
| of property registrations at the regional registrar's | | | | anything between Rs 4,000-5,000 for a |
| office has dipped by 10-15% in the last quarter as | | | | two-bedroom flat in areas like Dhakwadi. |