Pune Property Segment Gears Up for New Challenges

By: George Gonigal

Pune's property segment in fast evolving its profile to become one of the most active real estate market in the country. Recently, the Promoters and Builders Association of Pune (PBAP) launched a realty fund worth Rs 26 crore. This fund would invest up to Rs 5 crore per residential project in Pune to help the small developers to complete their projects quickly.

Earlier, the Estate Agents Association of Pune (EAAP) launched a real estate directory for Pune. This directory, called the Eaap Directory 2008, has details of the property professionals and real estate firms operating in the city. This directory would be of immense help to the home seekers and property buyers.

Civic authorities have just announced that all land record in Pune will be digitilised. Land owners will soon have digital images and computerised papers confirming their ownership records. This would bring transparency in the real estate segment and would help the land owners as well.

Pune has witnessed record land registration and transactions in the last quarters. Contrary to the media reports, official figures reveal that property transactions in Pune have registered 8% increase in the last quarter as compared to the time period last year.

Pune's property market has seen significant activity in the last one decade. Private property developers, along with the civic authorities, have launched new construction and infrastructure projects in the city. The city stretching its borders to give rise to new suburbs. The city's property segment is very active and is adopting new trends for the benefit of property professionals and home seekers.

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