Pune Real Estate_ Growing Rationally

Property seekers in Pune have another reason to cheer. Recently, the Estate Agents Association of Pune (EAAP) published and launched a directory of all organisations, institutes, professionals and agents related to real estate. This directory has a database of Pune property registration offices in and around Pune, contact details of the all the members of the EAAP and useful tips for buying and selling property.

Pune’s real estate segment has seen a lot of activity in recent times. Civic agencies and private property developers and infrastructure companies have contributed significantly in upgrading the city’s infrastructure.

Property registration records also highlight this fact. Property transaction records have posted 17.6% growth in 2008. About 79, 973 new Pune properties were registered with the authorities in 2008, as compared to just 68,004 in 2007. These figures sham the property reports that transactions have nosedived owing to high property prices and rise in construction material like steel and cement.

Prominent real estate builders like Kolte-Patil, Gera Properties, Mutha Group and Kumar Builders are active in the city. Local developers like Aditya Builders, Achlare Associates, Bhujbal and Brothers Construction Co. are also playing a significant part in the city’s real estate development.

Pune’s central areas like Model Town, Gymkhana, Salisbury Park are a hub of the prime residential and commercial property. These localities are thickly populated and have just no space for new construction. Only remodeling of property (like residential properties being converted into commercial properties) and reconstruction is taking place in these localities.

Most of the new construction is taking place in the bordering regions and the suburban regions on the city. Localities like Kothrud, Vanwadi, Oundh are witnessing frantic real estate development too.