Owing to the commercial influx, the fringes of Pune have started witnessing significant residential development with rising demand from professionals.
Properties in the ₹5 core to 10 crore bracket are the most favoured, with the maximum demand from NRIs in the UAE, followed by Canada, the UK, Saudi Arabia, the US, Singapore, Qatar, and Kuwait
Second homes have got an impetus in the recent past,due to reformatory changes in the realty sector, thereby making them a lucrative bet for buyers.
A recent report by JLL India, an international real estate consultancy firm, pointed out that sales for residential properties have remained strong, quarter after quarter.
After a protracted period where interest for real estate investment was concentrated primarily in the larger cities, we are now seeing a resurgence of the Tier 2/Tier 3 cities story in India.
Property buyers and sellers in metros, especially in upmarket localities, won’t need to pay additional tax if the difference between the agreement and stamp duty values of the property is less than 5 per cent.