Invest-Wise

The Pune property market is witnessing growth

7/15/2014 12:04:46 PM
written By : Staff Reporter Print

With the Bombay property market in limbo, Pune seems to be galloping ahead when it comes to home sales. No wonder even global property tycoon, Donald Trump is looking at the luxury segment in this city with residential and hotel facilities. According to a report in a leading Indian newspaper, Trump’s daughter Ivanka said that with the new government with absolute majority gives confidence to the group and its plans for India. The New York-based Trump Organisation is collaborating with a local partner to launch his fi rst venture in India in the Queen of the Deccan.

According to a survey conducted by research firm, Liases Foras, Pune witnessed a 22-per cent increase in sale of residential properties for the quarter ended April 30,2014 vis-à-vis the previous quarter. Bombay on the other hand reported a 17 per cent increase, despite developers providing a several discounts and freebies to customers. “The cost bracket of Rs 25 lakh-to-Rs 50 lakh witnessed the maximum (35 per cent) new sales, followed by the Rs 50 lakh-to- Rs 1 crore cost bracket (32 per cent).

In the Pune market, the maximum new sales was in the affordable segment while in the Bombay and Delhi markets it was in the luxury segment,” said Pankaj Kapoor, Managing Director, Liases Foras.

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