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Pune Flat Sees Rs 20 Lakh Jump In Weeks; Stunned Buyer Shares Experience

Remember Vasooli Bhai's iconic line from the Golmaal movie series, where he jokes about property prices rising "pal-pal", every passing second? That cinematic exaggeration has found a real-life parallel in Pune's Wakad area, where resident Kunal Gandhi recently shared his experience on social media platform X. Tracking the price of a newly launched 3BHK flat over just a month, Gandhi witnessed a steep and rapid surge, reflecting the dramatic pace and shifting dynamics of the city's real estate market. According to Gandhi's post, when he first visited the project at launch about a month ago, the quoted price for a 3BHK unit was Rs 1.80 crore. On a return visit just 15 days later, the price had already risen to Rs 1.95 crore. Most recently, he was informed that the price had reached Rs 2 crore, with developers projecting it could increase further to around Rs 2.15 crore next month. Gandhi wrote that the pace of growth raised the question of whether India'...
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Pune Flat Sees Rs 20 Lakh Jump In Weeks; Stunned Buyer Shares Experience

Remember Vasooli Bhai's iconic line from the Golmaal movie series, where he jokes about property prices rising "pal-pal", every passing second? That cinematic exaggeration has found a real-life parallel in Pune's Wakad area, where resident Kunal Gandhi recently shared his experience on social media platform X. Tracking the price of a newly launched 3BHK flat over just a month, Gandhi witnessed a steep and rapid surge, reflecting the dramatic pace and shifting dynamics of the city's real estate market.

According to Gandhi's post, when he first visited the project at launch about a month ago, the quoted price for a 3BHK unit was Rs 1.80 crore. On a return visit just 15 days later, the price had already risen to Rs 1.95 crore. Most recently, he was informed that the price had reached Rs 2 crore, with developers projecting it could increase further to around Rs 2.15 crore next month.

Gandhi wrote that the pace of growth raised the question of whether India's residential market is entering a bubble or simply responding to strong demand.

The post went viral and many social media users commented on it.

Gandhi noted that the rapid price surge raised questions about whether India's residential market is heading toward a bubble or merely reflecting strong demand. His post quickly went viral, sparking a wave of reactions from social media users.

One user, whose brother works in real estate, commented that the price rise is expected and not a bubble. Another user added that while demand is definitely high in cities like Pune, such rapid price increases don't entirely make sense and that the situation varies depending on the area. A third user pointed out that although demand has always existed, access to capital was a challenge. With globalization, more Indians are earning at global standards, but this can sometimes lead to overbuilding and potentially create a bubble.

Nevertheless, rapid price increases, such as those noted in Gandhi's experience, highlight the need for continued monitoring of supply, demand and pricing trends to ensure long-term stability in India's housing market.



from NDTV News- Special https://ift.tt/puB0rjw
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