The Times Realty Expo happening next weekend offers a wide choice of homes, and now is the best time to buy one, says Prasad Sathyen

If you are looking for a new home in Pune, now is the best time to buy one, particularly with the The Times Realty Expo all set to be launched at Hotel Meridien next week end. The two-day event, on February 23 and 24, will showcase a wide range of residential and commercial properties, with top developers displaying some of the city's best projects. Developers from Nagpur and Goa too are participating.

   Satish Magar, CMD, Magarpatta Township Development Construction Company Ltd says, "With Mumbai increasingly becoming costlier, many are searching for a reasonable alternative in Pune. The home loan interest rates are down and are expected to go down further. IT and ITeS have created lakhs of salaried jobs and there are many who are interested in investing in a home  so as to avail of the income tax benefits. Thus the demand is more than supply. Pune also attracts higher rental incomes.”

   Mohammed Aslam, Regional Director, Jones Lang LaSalle Meghraj (JLLM) says, "PCMC, Chakan, Talegaon, Kharadi, Hadapsar are the areas most favoured for a middle class Punekar to get his dream home worth around Rs 25-30 lakh. For an IT couple Pune real estate has much to give in Western and eastern regions of Pune. In the Eastern region Mohammad-wadi, Kondhwa , Kharadi and in the western region Baner, Balewadi and Hinjewadi are the best places for IT couples. In Chakan, Talegaon, and PCMC area the average market price is Rs. 1600 to 2800 per sq ft. In Hinjewadi the average market price is Rs. 3000 to 3800 per sq ft. In Hadapsar and Kharadi the average market price is Rs. 2700 to 3200 per sq ft.

   "Today all the major developers are developing projects which include luxury, extra large, smart homes, stress-buster homes and medium apartments too," says Rohit Gera of Gera Developments. "This trend has grown and will continue mainly because there is lot of demand. Of course, the presence of IT and ITES and the growing retail and hospitality segments create more demand for housing in Pune; you can find homes at an average price of Rs 3000 per sq.ft with better social infrastructure than any other place in the state. The recent reduction in home loan interest rates will spur the home buying scenario."

   Shyam Sunder, COO & Executive Director, Disha Direct, adds: "Pune is looking at expansion and there is solid development as far as hospitality, IT, ITes, BPOs and retail segments in Hinjewadi and Hadapsar are concerned. This could be attributed to Pune's good infrastructure - telecom, power, roads and air connectivity. quality social infrastructure - entertainment, educational institutions, quality resource pool, business environment, and proximity to Mumbai. The development of industries in Talegaon and Chakan is another factor. There are many integrated township developments in the outskirts."

   Raghvendra Singh, Branding and Strategy Manager, Aditya Builders says, "This is the best time to buy in Pune as the realty prices in Pune are less as compared to Mumbai. Moreover, many banks have reduced the interest rates on home loans making favourable for investment. Baner road, Aundh and Balewadi are the preferred areas to buy homes for those having a budget of Rs 40-50 lakh. Buyers having a budget of Rs 30-40 lakh can afford to buy homes in places such as Warje, Wakad and Kothrud."

   Apart from Pune, developers from Nagpur and Goa are also participating in the Expo. John Britto CMD, Acron says, "It is always a great experience to participate in Times Property Expo, it connects us with quality clients for our second homes. We are here to showcase our branded second home projects with quality amenities and specifications in ideal locations which is away from the crowd. Earlier one used to prefer a quaint little sea-facing cottage but now the trend is people are opting for a quiet place away from the seas, as the beaches remain crowded. In other words, people now need a hassle-free environment and buy homes in Goa for aspirational purposes. We are coming with 3-4 new developments in north Goa such as Villa Eugenia and Villa Bela in Moira, Villa Julieta apartments at Nagoa near Arpora and Villa Vicente near Porvorim. We offer a variety of homes from a minimum price range of Rs 30 lakh to Rs 3 crore."

   So if you are planning to buy a property, do it now. The Times Realty Expo will make the choice far easier!