Builders confident of growth
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The realty sector is expecting a major boost with merger of villages in the civic limits.
The developers' body, Credai, is hopeful that development in these areas would be streamlined and there would be better amenities. "I see a ray of hope in the realty sector after the merger. With the 11 villages fully coming under the corporation, there will be the necessary focus on them and haphazard growth would be curtailed in all likelihood," said Pune Credai President Shrikant Paranjape.
There is a fear of land prices surging in these areas, but developers would want to restrict it to launch of new projects as they would have to register with Real Estate Regulatory Authority.
Ashutosh Limaye, the head of research and real estate intelligence service of JLL, firmly believes the villages would have better access to funds, planned development and better standard of living after the merger. "When utilities and services improve, so do real estate and land cost," he added.
Builder Sachin Kulkarni had a word of caution. "The decision to include some villages in the suburbs is a half-baked one. It leaves the development of all these villages in jeopardy. Neither the gram panchayats nor the PMC will pay attention to development of these villages."
Developer Sanjay Deshpande wondered why the PMC should look at planning the development plan of only 11 villages and not the whole region, which could have boosted the realty sector.
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