Poor response to afforable houses in Pune civic body’s limits – ET RealEstate

PUNE: Only 1,200 of the 2,918 winners of the online lottery conducted by the Pune Municipal Corporation for allotment of apartments under the Pradhan Mantri Awas Yojana have so far paid the 10% advance, necessary for the purchase of flats.

The civic administration on Monday issued a public notice, urging the remaining beneficiaries to complete the formalities in a week’s time.

“The citizens who were selected in the lottery should complete the process. The civic administration will sell the flats on first-come, first-serve basis if the remaining beneficiaries don’t come forward in a week’s time,” PMC additional commissioner Rubal Agarwal said.

The civic administration officials said the lack of required documents and non-availability of loans for the beneficiaries were impeding what should have been a good response. The administration will now partner with the financial institutions to speed-up the loan disbursement, the officials said.

The houses under the PMAY are built in areas like Kharadi, Hadapsar and Wadgaon. As many as 2,918 people had qualified during the online draw conducted in October.

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Pune: Affordable housing lottery winners’ response poor – ET RealEstate

PUNE: Only 240 winners of the online lottery conducted by the Pune Municipal Corporation (PMC) for allotment of apartments under the Pradhan Mantri Awas Yojana have paid the 10% advance necessary for the purchase of flats till the November 23 deadline.

As many as 2,918 people had qualified during the online draw conducted by the civic administration in October. The PMC had received over 20,000 applications for the lottery.

A PMC official said 1,500 beneficiaries had collected challans from its office, but were yet to transfer the amount. “The civic administration had sent letters to the winners and told them to make the payment. We have told those on the waiting list to apply for the houses. They would be allotted the units, if the winners failed to complete the process by the end of Monday,” the official said.

The PMC had conducted the lottery for allotment of houses in five projects for the urban poor in areas such as Kharadi, Hadapsar and Wadgaon.

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Pune residential sales up 58% quarter-on-quarter in Q3, launches rise 55% – ET RealEstate

MUMBAI: Property market of Pune has witnessed 58% sequential rise in housing sales to 1,344 apartments in the third quarter led by the state government’s move to reduce stamp duty on property transactions. Sales momentum was also supported by low home loan rates, attractive schemes by builders, and competitive prices.

Residential launches in the city saw a 55% sequential jump to 1,756 new units during the quarter with locations like Kharadi, Hinjewadi, Wakad and Hadapsar accounting for more than 50% of the launches, showed data from property consultancy JLL India.

This strong growth was on a low base of the second quarter that was significantly impacted owing to the severe lockdown restriction in the wake of ongoing pandemic.

Homebuyers preferred projects that are closer to prominent office locations and are being developed by established builders with an execution track record. There are also a higher number of enquiries for completed and nearing completion projects as compared to those which have recently launched.

“Developers continued to align new supply with demand and the majority of these launches were in affordable and mid segments. Further the city has also witnessed healthy traction in the luxury segments which was not visible earlier,” said Sanjay Bajaj, Managing Director, Pune, JLL India.

In the subsequent quarters, he believes, the translation of demand into sales will primarily hinge on enhanced consumer confidence, which in turn depends upon the continued implementation of progressive government policies amidst the gradual revival of the Indian economy at large.

There is growing acceptance of digital platforms amongst homebuyers to complete their home purchase process from raising an inquiry to making the payment through the developer’s online window, he added.

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Pune civic body’s affordable housing lottery on October 24 – ET RealEstate

PUNE: The lottery for affordable houses offered by the civic body as part of the Pradhan Mantri Aawas Yojana will be held on October 24 and would be streamed live on the PMC’s official website.

Over 20,000 applications have been received by the Pune Municipal Corporation (PMC) for 2,918 flats available in areas like Kharadi, Hadapsar and Vadgaon. Of the 2,918 houses 1,024 will be available in Hadapsar, 786 in Kharadi and 1,108 in Vadgaon Khurdi.

The programme will be held at 11am at the Chhatrapati Shri Shivaji Maharaj hall inside the PMC building. Union minister Prakash Javadekar will preside over the function.

As per PMC data the houses will be available as part of five different projects under the ‘affordable housing in partnership’ section.

“The Pune Municipal Corporation had invited applications from citizens who wanted to buy the houses. The applications were scrutinized and only valid ones will be considered for the lottery,” said mayor Murulidhar Mohol. He said the lottery would be held online in accordance with Covid-19 guidelines such as social distancing.

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