{"id":2905,"date":"2011-08-08T01:31:25","date_gmt":"2011-08-07T20:01:25","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=2905"},"modified":"2020-06-15T05:00:06","modified_gmt":"2020-06-14T23:30:06","slug":"whether-the-upward-trend-continue-in-pune-real-estate-or-not","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/whether-the-upward-trend-continue-in-pune-real-estate-or-not\/","title":{"rendered":"Whether The Upward Trend Continue In Pune Real Estate or Not?"},"content":{"rendered":"

\"\"Buying a home is everyone\u2019s dream of lifetime in a country like India. In old times people usually bought a land and then built their houses as per their requirements but today everything has changed. Now you have to think more than one aspects of owning a house like location, cost of buying, possession time<\/a>, type of house, loan amount, quality of life etc. It is not easy to find the suitable home to fulfill all your requirements. In a city like Pune which is rapidly expanding in all possible directions is much to offer in its magic box. Now the question is if the supply is enough then why the prices of properties are sky mounting? There is no doubt in this fact that in the past five years the prices of real estate has surprised each one of us. But is it good to have such a trend or are there some facts or points that we are not thinking about.\u00a0 If we see the graph of real estate prices we can see sharp upward direction then some stillness then again very sharp shoot up of prices in the year 2010 till end. Now what?Uncertainties are all around as some predictions are in favour of real estate and some are against it. If we take the current market prices of properties in Pune<\/a> city then it is clear that slowly it is becoming just unrealistic to afford a 2BHK in Pune. Apart from the cost of a 2BHK the interest rates are also too high to materialise the deal of purchasing a property. Some views are like that there will be some correction but how much no one knows. What will happen to the future real estate market of India if the present state of affairs continues in coming years? The answer is the sale will go down because if the common man is not having purchasing power then how will he be able to think of buying a property that is just impossible to afford. He would prefer to have a rented accommodation instead of buying a home.If one waits for the correction in the prices then how much correction he can expect. If we analyse the past then we can see that in the year 2008 when the economy slowed down, the impact was clearly seen but the real estate prices<\/a> never came down. I agree the fact that they were not rising at that moment but they were stagnant because of lack of demand and downfall of IT industry due to world economy slow down. Today the scenario is that World economies are recovering, Indian economy is giving good signs of growth and thus the demand is rising for real estate. This demand has made the reality sector mad and the prices went up like rockets which seem to be unrealistic to touch. Here are some points that can contribute in downfall in demand of real estate:The banks have increased the borrowing rate that is another slap on the cheeks of a home buyer.<\/p>\n