There is a steady and inflexible demand for studio apartments, both in the metros and tier 2 cities. These apartments are usually the first to be sold out in a residential project that features them.
Integrated townships are rather complex with lower FAR, more open areas and an emphasis on creating a sustainable living ecosystem with residential and commercial spaces supported by an infrastructure backbone of power, roads, water, drainage and sewage – a virtual living and breathing city.
Over the last six months, the housing market in Mumbai had started showing signs of revival after an 18-month period of sluggishness beginning in the 4th quarter of 2010. The hiked Ready Reckoner rates could dampen that revival.
As has been the case in the past, the larger cities of Mumbai and NCR-Delhi recorded healthy absorption of residential units during 2012, with a 60% contribution to the overall absorption. Chennai and Pune were among the other two cities that increased their share of absorption during 2012 to 26% from the 23% recorded a year ago.
In terms of residential property value, Keshavnagar in Pune’s Mundhwa area benefits from its advantageous proximity to Koregaon Park, of which Mundhwa is now considered an extension. It is one the increasingly rare locations where purchasing a budget home in a strategic location in Pune is still possible.