Nobody can deny that there is a definite slowdown in the Pune real estate market:Sonal Modi general manager (Maharashtra), Housing Development Finance Corporation Limited (HDFC), said the market sentiments were low, despite strong fundamentals in the city (Pune) with migration and economic growth continuing to fuel demand.
“But what we are seeing now are the first signs of a kind of easing out in the market," Modi said.
Officers at the HDFC said that in Pune, people are not buying because property is not affordable. Unlike other markets like Gurgaon, Delhi or Mumbai, Pune is not as much investor driven. The city real estate market has seen growth because of automobile and manufacturing sectors doing well, besides IT.
“But customers are waiting and watching and expecting a certain rationalisation of prices in the city,” Modi said.
All signs of market correction there, say loan institutions - ExpressIndia.Com
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