Published at: 31 Jan 2025
The budget for the year 2025 is to be expected in just a few days and of course, both the homebuyers and real estate developers have anticipated measures that will provide support in dealing with challenges about homeownership and property development.
Pune as a city has witnessed rapid growth as well as faced unique and multiple challenges such as an increase in property prices, extremely high interest rates and also the increase in the demand for sustainable housing options in recent years. This year, stakeholders are hopeful for impactful initiatives that can reshape the real estate landscape and make housing more accessible.
At SK Fortune Group, a trusted name in Pune’s real estate market, we understand the aspirations of homebuyers and the challenges developers face. We have accumulated some of the basic key expectations of the home buyers in Pune as well as real estate development companies from Budget 2025:
High EMIs are a major concern for homebuyers, especially first-time buyers in popular Pune suburbs like Wakad, Hinjewadi, and Kharadi.This will undoubtedly help ease their financial burdens and make the buying process more feasible. As for the developers, this move will boost demand for housing projects. This would support the growth of the real estate sector especially in a city like Pune.
The real estate market in Pune has steadily risen in recent years. Well of course this is all because of the increase in property values. However, the current real estate market and the subsidy limits under Government schemes like Pradhan Mantri Awas Yojana unfortunately no longer align with market realities. Revising these would make affordable housing accessible to everyone. Such reforms would also empower real estate developers to focus on creating more affordable housing projects ultimately benefiting both buyers and the industry as a whole.
With high interest rates on home loans, many buyers find it challenging to buy homes and take the first step toward homeownership.Interest rate subventions would alleviate this burden and make monthly EMIs more manageable for buyers. Additionally, this would reduce financial pressure on buyers translating to an increase in demand for housing projects.
In recent years, there has been a growing demand for sustainable living spaces, especially the ones that are well-equipped with premium features like solar panels, rainwater harvesting, and energy-efficient appliances.But these homes often come at a premium making them quite inaccessible to middle-class buyers. This challenge can perhaps be easily relieved with the budget having the scope of providing incentives for developers that would help them adopt eco-friendly practices. This would help bridge the gap making sure that sustainable and environment-friendly homes are more accessible.
Most of the time, delay in project approvals is one of the most common challenges in the real estate sector. This can easily be resolved by having simplified approval processes and proper government support for infrastructure projects. This would ensure that the projects are completed on time and that the delivery and possession of homes are given to the buyers, ensuring their confidence and trust.
Right now the real estate market in Pune is at a crossroads, with immense potential to grow and adapt to the needs of its diverse population. The upcoming Budget 2025 presents an opportunity to address critical issues like affordability, financial relief, sustainability, and infrastructure development.
At SK Fortune Group, we are optimistic about the future and committed to delivering innovative and value-driven housing solutions. Whether you are a first-time homebuyer or looking for a sustainable living space, we are here to make your dream home a reality.
Let’s build a better future together!