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Effects of Demonetization on real estate sector

On November 8, 2016 when Prime Minister Narendra Modi, declared to the entire nation about discontinuation of Rs 500 and Rs 1000 notes from midnight, the whole nation was shocked from this revelation. There was chaos everywhere, as people started to panic about the effects of demonetization on day to day life. Long & never ending queues stood outside banks & ATMs. There have been mixed reactions of people to this decision by our PM due to the hardships it has caused to common people but majority of them have reacted in the most overwhelming way.

Demonetization – the biggest news of 2016!!

Though the real motive behind it was to abolish the black money & also eliminate the fake currency from the market. In the long run this will definitely help to stabilize the country’s economy and also secure our nation from illegal actions. The effect of it has been different of varied sectors. Obvious ones are; inflation will drop down drastically, which will lead to the reduction the prices of various goods & services. Bank will have more deposits which will reduce the interest rates on loans & eventually due to payment of taxes; the government will have more money to spend of infrastructure & development of the country.

The Real estate sector is one of the sectors that has got affected drastically due to this move. Let’s read below the effects of Demonetization on real estate sector:

Homes loans getting cheaper: With more deposits being done in the bank, the fund holding of the bank has gone up in shorter span of time. This in turn will decrease the home loan interest rates significantly. The expected rate of interest would be between 8% to 10% on home loan in the year 2017.

Transparency: Due to the introductions of RERA’s amendments and demonetization affecting this sector back to back, there will much transparency in the transactions as all the payments will be made in white.

More Demand: Since home loan will get cheaper, the demand for houses will increase as the purchasing power will be in the hands of the buyers. Also the unsold inventories may come down since demand will increase.

Opportunities of foreign investment: With improvements and transparency in the economy there may be room for more foreign investments in the sector.

On the various points mentioned above, the real estate developers in Pune had a different take on each. Aksha Group, having many new construction projects in Pune, was much happy with the effects of Demonetization and implementation of RERA. Their 1, 2 and 3 BHK flats in Moshi – Chikali, Pune are a paradise to every home buyer. Affordable, comfortable & various payment schemes for the buyer’s makes this group much loved and trusted developer in Moshi & Chikali, PCMC.

Pune the newest avenue for home buyers

Pune- a vibrant and thriving city situated in the western Indian state of Maharashtra. Pune was once upon a time called a “pensioner’s paradise”.People looked upto this city for peace and serenity. This city has grown exponentially to a centre of academic, IT hub, business and entertainment. Presently it is the city with youngest crowd. It tops the favorite list because of its proximity to hill-stations, forts, adventurous parks, resorts and not to forget places of pilgrimage too.
Lately, Pune has also become the hottest place to invest due to the presence of multinational companies in here. Young Indians from different parts of the country working in these multinational companies have made this city home. This in return has increased the demand for houses increasing residential projects relatively.

Let’s figure out why investing in Pune is a good deal:

Improved Infrastructure and facilities:

This city has been on a massive development juncture since centuries. Conscious efforts are made by the Civic body to provide the best of infrastructure in terms of roads and their connectivity. Pune is easily connected by road, rail and airways. Having multiple options in every transport mode makes it an easily accessible place.
In terms of residential projects, some of the best new construction is happening in Pune. Builders like Aksha group are providing cheap flats in Pune which include 1, 2 and 3 BHk flats in Moshi and Chikali, Pune.

Oxford of the east:

Being called the,”oxford of the east”, because of its excellent quality of education. The presence of some of the top colleges in different fields like medical, engineering, theater, IT and creativity makes this place a one stop solution to all. Not to forget Pune’s own university, Pune University is regarded as one of the best universities in India.

Booming IT hub:

The setup of some of the biggest IT companies in Pune is the primary reason why the investment in Pune is booming. Huge brands are coming to the city which has increased the employment rate. More job opportunities in decreasing the unemployment which is a positive factor.

Climatic Conditions:

Known for the best climatic conditions, usually evenings are cool and breezy throughout the year. Monsoon is the best time to explore the surrounding areas of the city. Winters are chilly and fun.

Lot of Greenery:
To balance the rapid developments of residential project a constant check is kept on the greenery part of city. There are lush green trees by the roads of the city. Areas like Koreagaon park, Salisbury park and Sinhagad etc are green and beautiful which adds to the serenity of the city.

Safety :
Being of the youngest city which also mentioned above, it’s still a safer place. Women find it safe and secure to even roam about at 12 in the night. Thanks to the Pune city Police who are on a continuous drive throughout the city.

Keeping all the above factors in mind the residential sector is booming due to the high demand of homes. Top builders of the city like Aksha Group, are constantly on a roll to provide some of the best projects in the city. Featuring 1, 2 and 3 cheap flats in Pune, they are providing budget homes to people who dream of having their own house in a city like Pune. Attracting both domestic and international buyers of property in Pune.

Benefits of purchasing a 2 BHK house

Living in a city like Pune and owing your own house is a proud feeling in itself. When people own a property they leave no opportunity to flaunt it. Project amenities, location are always a point of discussion. For a young couple to who has purchased the house with their hard earned money is like a dream come true. They call it a dream home.

Usually couples or smaller families go for 1 BHK homes keeping in mind their finances. That one bedroom, hall, kitchen and bathroom is perfect for small families or very few people like 3 friends staying in. But if there are more people living, then 2BHK is the only rescue. If finance is pretty sorted for you, then you should definitely consider a 2 BHK apartments with Aksha Group – one of the top builders in Pune who has comfortable 2 BHK apartments in nearly 7-8 projects of theirs.


2 BHK is preferred over 1 BHK, why ?

More Space: Purchasing a 2BHK than 1BHK definitely gives you more space. The total carpet area increases along with the added bedroom and Bathroom. You can also use this additional space to recreate and pick hobbies that you always wanted to. Create a gallery or library there, make it a dance room and groove to your favorites there.

Additonal Amenities: When you purchase a 2 BHK the developer always gives additional benefits to the 2BHK and 3 BHK owners. Like n extra parking space or more member reservation at the club house events or maybe a bigger balcony. It comes like a package, bigger the house, more are the amenities and comforts. Like at Aksha Group the builder has numerous 2BHK flats project in Dudalgoan and has given top line amenities like Amphitheater, Jogging track, Yoga and meditation hall, Gym, Party Lawn etc.

Perfect for Future: Whether you’re a married couple or single 2BHK will be a good option for you because the family will always grow in future with new relations. Also there is a possibility of family, guests and friends coming over. When finalizing upon the flat always keep the project location on a priority. When living with family, the house should have easy connectivity to important places of the city. In this regard, Aksha Group has all their projects in the central parts of the city like Moshi, Chikhali with has direct access to Spine road.

Resale value: We purchase a house with the intention of living in it forever and creating some amazing memories in there, but for any circumstances if you have to sell the house then 2BHK flats are easy to sale and chances are always high that there will be appreciation in the rates of the property.

Home is a dream place to be

There are so many things on everyone’s mind; what dress to put on? Or where should you shop today? But have you ever thought from where all these things come in your mind. May be while you are brushing your teeth, or when you just woke up from your bed. Wherever it may be, there one common place where you think. The day begins at home and ends at your home. How much busy you are? How lazy are you? Or even better how social you are you? It all dials back to your home.

So when I was asked to write a piece of mind about ‘home’ all I could think of the launch event that i recently attended. Don’t get me wrong, launch events of residential projects is just another fancy way of saying how good we are at creating homes. But this launch event hosted by Aksha was quite different you know. There were people, of course at any event that is mandatory I know. But the unexpected thing was there were people who had already bought a 1 BHK flat in Aksha’s previous project in chikhali and yet here they were. I was quite inquisitive why anyone would be interested so much. And this was not just one person, but, likewise there were many. When I started conversing with them I understood, Aksha doesn’t promote a new project to new T.G. Instead he calls for all his trusted customers who are spread across Moshi. Dudulgaon, Ravet and PCMC. The boutique flat made ready for the event was just as much sensational the way I started with my blog. Every nook and corner of the flat reminded me of my house. The decor was just as simple as any house. And the most common thing was that there was one corner in the flat that needed attention. You know the one where we keep all our heap of unwashed clothes or entangled headphones that kind. That corner personalised the touch to everyone who came by.

So, while I reminisce my experience of a launch event I realised what place Aksha group has in their customers’ heart as well. People literally were so overwhelmed with his treatment that they have literally reviewed as the best builders in Pune and the only construction company that pays heed. Being a part of this home journey was really a great experience for me too.

Edge of living

Now a days the most trending feature for a residential project is the proximity and their amenities; Of course other than the economical rate of the area.

Many builders are simply planning to become the main and sole personality to develop budget homes. With the outreach of Pune being IT Hub, the construction of luxurious and leisure flats was initialized. That was the time in 2000 when many residential projects were built with 1, 1.5 BHK, 2, 2.5 BHK homes. As the saturation of the resources developed then along with homes, builders started giving amenities. The description of these features was unbelievably beautiful. From swimming pool to cricket pitch, there was so much that every real estate developer started acknowledging this trend. Now the habit has been such, that the flat area has been reduced from 2 and 3 BHK to 1 RK, or 1 BHK but the amenities space is always reserved.

Although said so, one of the best things for amenities in Indian residential projects is that they have been designed keeping in mind with the Indian habit and Indian necessities. Many builders are trying to bring that international edge by providing amenities and redefining the class of residences to luxurious projects. Amenities for not only outdoor features but the indoor infrastructure is the big bonus to who so ever is thinking to buy a flat.

Aksha Group has been constantly researching and redeveloping their projects to excel in every new residential township. Depending on the location and the necessary of the features needed, Aksha Group plans the resources such that every amenity is utilized at par and with best possible appreciation for its buyers. May it be a luxurious township like Amulyam or Swapnalok or a budget friendly society like Elegance or Empire, Aksha group sees to it that the amenities given to the projects are sound and maintained properly. Amulyam is a project with luxurious flats and much of an open space, therefore, Aksha has developed a cricket pitch for their buyer’s benefits. Similarly, elegance is a project that is mostly targeted for investment and professional lifestyle purpose therefore, they have made it a point to develop the internal infrastructure than the playfield.