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Pune: Over 10,000 visitors at realty expo - CREDAI PUNE METRO

Pune: Over 10,000 visitors at realty expo

Satyanarayan Iyer | TNN | 

Updated: Dec 15, 2019, 10:59 IST

PUNE: The largest real estate expo in Pune, last week, saw over 10,000 walk-ins in three days – more or less in line with the number of walk-ins in the previous edition, indicating that market interest still remains tepid. 

However, according to realtors, the walk-ins this time were more focussed and intent on buying than in the previous edition. How much of these walk-ins will convert into real sales, only time will tell as it requires more sustained efforts to sell a house.
"There were more people in the stalls and less in the corridors this time…Over 300 properties were booked on the spot," said Suhas Merchant, president, Credai, Pune Metro.
Arvind jain, the convener of the Credai property expo said that he believed that 500 more conversions will happen in the next couple of months.
The industry body also took to technology to help people narrow down on the projects, suitable to them.
"Much of the interest was for a 2BHK in the Rs 40-65 lakh price band," said Aditya Javdekar, CEO, Vilas Javdekar Developers. 

He added that the average age of a lot of prospective buyers was about 30 years this time, against 27-28 years in the last edition – another indicator that people are making their purchase decisions, rather slowly.
Developers, however, hope that all of this will translate in better business outcomes. The industry body also bought out a booklet to help buyers with better decision making and grievance redressal.
"Neat and quality enquiries and value for money," said Sachin Kulkarni, managing director, Vastushodh Developers.
The realty market in Pune, as elsewhere, is stuck into a bit of a quagmire with much of sales in the last 2-3 years, still being range bound in the 35000 to 40000 homes sold per year in the corporation limits of Pune and Pimpri-Chinchwad. This is despite public-private efforts like MahaRERA, interest subsidies and deep discounts by developers in the past three odd years.
Recent reports from property consultancy firms, JLL India and Knight Frank, pointed to a positive momentum in sales, but the reported numbers still seemed to be off the highs attained in the period between 2011-13. 

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