5 Upcoming Pune Localities For Buying 1BHK Apartments

  It’s been a while since Pune established itself as an ideal investment destination owing to the major presence of IT hubs and industries. This historical city is now set to witness a new wave of infrastructural development, with the proposed airport project, upcoming metro rail, flyovers and road widening projects. According to a report by PropTiger Datalabs, Pune saw an increase in new residential launches by 166 per cent in January month-on-month, with home sales increasing by 53 per…

Pune’s Suburban Real Estate Transformation

One does not tend to think of Pune a Metro city, especially when compared to neighboringMumbai. Unlike Mumbai, however, Pune has the benefit of being able to grow spatially and it has been doing so at a very rapid rate. With the constant absorption of surrounding villages, the city will at some point overtake Mumbai in terms of developed and developing urban areas. Even today, Pune’s suburbs account for a massive geographic spread – and these suburbs are seeing the highest rate of affordable…

Demonetisation and RERA: How will it impact property prices?

On November 8, 2016, the Government of India de-notified currency notes of Rs 500 and Rs 1,000 as legal tender. The temporary shortage of cash adversely impacted several sectors that depended on cash, notably wholesale markets, the informal sector and even parts of the real estate industry. The real estate industry involves both, formal as well as informal sector stakeholders.    By some estimates, the real estate sector itself is a significant repository of unaccounted money in India,…

Pune Real Estate: The year that was, and the year ahead

The highest-selling category in Pune was mid-range properties priced between Rs 35-50 lakh within the city's municipal limits and its nearby periphery, followed by lower budget housing on the outskirts priced between Rs 15-30 lakh.  2016 did not bring as much cheer to Pune's real estate market as previous years had. Nevertheless, Pune outperformed Mumbai by between 20-25% in terms of overall sales. The highest-selling category in Pune was mid-range properties priced between Rs 35-50 lakh within…

Home Loan Guide for First Time Home Buyers in India

Step 1. Estimate Home Loan EMI, Check Home Loan Eligibility, Decide loan amount and tenure ·         How much EMI you can comfortably pay every month – this should not exceed 60-65% of your net post tax pay. ·         Calculate your loan eligibility for various loan tenures based on this EMI and your age. In case the loan amount you need is more than the maximum loan eligibility, you may add upto 3 of your…

Pune: Now, you can register for a property in just 30 minutes

PUNE:  In much-needed relief for realty dealers and buyers, property registration will now won't take more than half and hour. A government resolution made public on December 9 has asked the Department of Registration and Stamps -- all units across the state -- to complete property registration procedures in 30 minutes. Where buyers and sellers had to dedicate long hours just to finish the formalities, they can now get through the tedious process in not more than 30 minutes after they have…

ICICI Bank cuts home loan rates to 8.65%

Mumbai: ICICI Bank, which is among the top three home loan providers, has cut its home loan rate by 45 basis points (100bps = 1 percentage point) to 8.65% from 9.1% earlier. The bank has also reduced its benchmark rate — the one-year marginal cost of lending rate (MCLR) — by 70 basis points to 8.2% from 8.9% earlier. Following the rate reduction, the private bank's home loans are available 5bps higher than SBI's best rate of 8.6%. The best home loan rate is available to borrowers which include…

PM Modi announces cheap home loan for poor, relief for farmers, small businesses

   HIGHLIGHTS · Farmers' credit cards will be converted to RuPay cards in next 3 months · Pregnant women in 650 districts to receive Rs 6,000 for vaccination and pre-natal care ·Modi set out a stern warning to the "dishonest people"   NEW DELHI: Prime Minister Narendra Modi on Saturday announced a host of new schemes for various sections of society even as he urged the people to continue supporting the government in the fight against corruption and black money. In his televised…

50 Days After Demonetisation, Real Estate Deals Remain Few And Far Between

The government’s decision to withdraw notes of Rs 500 and Rs 1,000 was intended to attack the black economy. A natural corollary to this was a likely hit to the real estate sector, which, for long, has been considered a refuge for unaccounted money. The trends so far suggest some immediate hit to deals but clarity on price trends is yet to emerge. Residential sales’ enquiries have witnessed a drop and prices in the secondary markets are softening, says a report ‘A Review of 2016 and Peering…

NRIs have advantage in India's luxury property market after demonetisation

SINGAPORE: NRIs have an advantage in luxury property market in India post-demonetisation as real estate developers in major cities of the country have 'significantly' dropped property rates, according to Singapore-based business analysts. "Given the recent demonetisation move, property rates have significantly dropped across various cities in India," said Abhijit Ghosh, India Desk leader at Price water house Coopers (PwC) Singapore, an international financial consultancy.  "Specifically,…