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Arun Developers, Pune

Arun Park, Opp. Aditya Birla Hospital,
Chinchwad, Pune - 411033

3-5% price gap between ready and under-construction homes: Report

TNN / May 8, 2021, 23:58 ISTPune: A report on real estate prices for ready-to-move (RTM) and under-construction (UC) homes by consultancy firm Anarock has revealed that the gap between the prices for both has shrunk to around 3-5% in 2021 against up to 12% in some markets in 2017.UC homes generally attract lower rates than RTM homes across major real estate markets — the four metros, plus Pune, Bengaluru, and Hyderabad, the report said.In some markets, such as Pune and the Mumbai metropolitan region, RTM homes used to cost around 12% more per square feet than UC homes in 2017. By the first quarter of 2021, that gap has shrunk to 3% for the Mumbai metropolitan region and the National Capital Region, while the gap in Pune is slightly higher at 5%.“People are shifting more towards RTM homes these days as new homebuyers and investors are concerned about uncertainties in construction of new projects as well as projects stalling during construction,” said the head of a real estate major based in Pune.“The fact that RTM homes does not attract GST has been an added attraction, even the price gap between RTM and UC homes has eroded substantially - from 9-12% in 2017 to just 3-5% by Q1 2021. The shrunk price gap works well for end-users as well as investors. End-users can see what they buy and save rent by moving in immediately, while investors focused on steady rentals can start earning right away,” said Anuj Puri, chairman, Anarock.
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‘Big brands are cornering housing mkt’

Pune: A report by real estate consultancy Anarock has found that branded real estate projects, of major listed and unlisted players, are taking up a significant share in the housing market. The report said customer preferences shifting, and RERA seeking more compliances, played a major role in the shift awat from local, standalone players. The report said the share of listed and unlisted players in the real estate market across the top cities in India went from 17% in 2017 to to 40% in the first three quarters of the 2020-21 fiscal. Anarock added the shift started with notification of RERA. “After the roll-out of structural policies including RERA and GST, organized and branded players’ dominance has risen exponentially,” said Anuj Puri, chairman of Anarock. “While buying a home, customers expect and demand trust, transparency, as well as on-time delivery of their homes. RERA helped raise awareness for customers,” said Rohit Gera, MD of Gera Developers.https://timesofindia.indiatimes.com/city/pune/big-brands-are-cornering-housing-mkt/articleshow/82957156.cms
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