DUBAI — Pune Property Show, a two-day exhibition focusing on the booming real estate market of Pune in western India, which opened on Friday at the Radisson Blu Hotel in Deira, has lined up 20 exhibitors offering residential properties with prices starting from Rs500 to Rs12,300 per square foot.
The two-day show, the third event organized in Dubai since 2009 by “MagicBricks.com, India’s leading property site was inaugurated by Rizwan Sajan, Chairman of Dubai-based Danube Group.
- Bala krishnan, regional manager of “MagicBricks.com, said the Pune-centric show has been designed to offer the best residential and commercial properties from across the Pune region at a single venue.
Property prices in Pune has been on a steady and sustained surge averaging between 10 and 15 per cent over the past several years despite the general slump witnessed in most parts of India,
“As one of the fastest growing IT, automobile and educational hubs of the India, Pune has become a sought-after destination of property buyers looking to settle down,” said Bala krishnan.
The show offers a wide array of apartments, villas and residential plots. “We are hosting the Pune Property Shows to serve as a showcase for sellers. With a wide variety of properties to choose from, NRIs in the UAE can make the most of the ideal investment opportunity that Pune property market offers,” he said. On an average, the past two editions of the event drew 3,500 footfalls. “The feedbacks from exhibitors have been always very positive with some reporting brisk business, he said.
Despite an increase in housing loan interest rates — from 8.25 per cent a few years ago to 10.4 per cent at present — end-users are still buying properties, said an executive of HDFC, a leading Indian home financing company.
The line-up of developers includes BEPL, Bramhacorp Infrastructures, Amanora, Prime Purple, Alcon Builders, Anshul Realties, G-Corp Properties, IBT Realty, Kool Homes, Naiknavre Associates, Nandgude Patil Developers, Nyati Group, Phadnis Infrastructure, Rohan Builders and Developers, Sairung Developers, and Shapoorji Pallonji and Co. Nitin Rupani, director of Bramhacorp, said his company offers both high-end and mid segment properties with prices ranging from Rs3,800 to Rs7,000. “We are getting good response because of our attractive prices as we play in volumes,” said Rupani.
Vikas Bhalla, joint development partner of BEPL, which is offering Le Belle Grand, said he already sold two luxury apartments priced at around Rs40 million each within hours after the opening of the show. BEPL also sells retail space at a shopping mall it is developing on a prime location.