The Pune has been witnessing a rapid growth of real estate sector development for more than a decade and it will expand in all direction. The increasing demand in the commercial real estate sector has been open the gateway for residential development in the suburb of Pune.
In Pune, the location like Chakan, Moshi, and Pirangut are previously known as an industrial hub but nowadays they are the best destination for low budget flat in Pune.
These newly expanded regions of the city offer many benefits like
- Low entry points.
- Promise higher returns on investment.
- Rapidly improving infrastructure.
Pirangut has a seamless connectivity to Pune- Bangalore highway with established centers like Kothrud and Hinjewadi. Now it is very good property destination for both investor and end users.
Now the government tweaks the definition of infrastructure sector in the budget include an affordable housing that will reduce the cost for the developer and attract the many investors. And this change is being proposed after Prime Minister Narendra Modi announced concessions on interest rates for low-cost housing loans under the Pradhan Mantri Aawas Yojana.
Prime Minister Narendra Modi aiming of “housing for all by the year 2020”
The economic survey said that “Real estate prices have fallen following the demonetization move and are likely to go down further as investing undeclared income in real estate will become difficult”
Due to demonetization, the number of a cash transaction is reducing to the great extent and make real estate sector more transparent. Now it would also start attracting the more foreign investor.
The Prime Minister Narendra Modi also announced the subsidy on the home loan interest rate. The Government will provide 4% and 3% interest rate rebate for the housing loan of up to Rs 9 Lakh and 12 Lakh. And also, the loan for a new house or property extensions in rural areas up to Rs 2 Lakh will get interest subvention of 3%.
Hence above all thing motivate buyers to purchase the small houses.