Real estate developers in Pune real estate market are offering festive incentives such as zero stamp duty, No EMI till possession as demand gradually tapers off in the IT hub of Maharashtra. According to developers and consultants, 2024 is the first time after COVID that festive offers are being doled out to prospective buyers. According to developers, the Pune real estate market was under stress from the year 2015 to 2019, and Diwali offers were common.
However, post Covid-19 as hybrid work culture took off, demand revived for larger apartments in Pune. Owing to demand picking up after Covid-19, no offers were being given by developers but now with sales gradually slowing down, developers are doling out offers to attract buyers,a Pune- based developer told HT.com It was only after the Covid-19 pandemic that several Mumbai and Bengaluru-based developers announced entry into the Pune real estate market.
This includes players like Lodha, Dosti Realty, Adani Realty, Puravankara, Prestige Group among others. "Pune real estate has taken a drastic turn where developers are giving out special offers during the ongoing festive season— something not seen post Covid. The focus is much more on the upper mid segment for 2 and 3 BHKs that caters to almost 70% of Pune’s residential sales.
Special packages ‘No EMI for 24 months’, 'Zero Stamp Duty’, fully furnished homes – these are tactics never used in Pune’s real estate market. This trend demonstrates a shift in market balanc.