PMC Realty check: Demand for new houses falters, number of permissions lowest in last 10 years

  • | Wednesday | 2nd August, 2017

Over the last few years, Pune’s real estate sector has witnessed a slowdown, with realtors lamenting the large inventory of unsold properties. However, on an optimistic note, he said that within a year or two, the real estate sector was expected to witness a boom. The number of new permissions issued was low in 2014-15 and 2012-13 as well. As per the Environmental Status Report (ESR) of the PMC, 3,095 permissions were granted for new construction projects — the lowest in the last 10 years. Realtors pointed out that the high real estate rates in Pune were gradually making the city unaffordable for the average buyer.

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