Real Estate News

Pune developers turn cautious, await new development control regulation

Real estate developers in Pune have turned cautious and are adopting a `wait and watch’ approach until the new development control regulation (DCR) norms come into force. The caution is one of the reasons that new residential launches in the city have dropped by 32 per cent in the first half of this year in comparison to the figure in the same half of last year. In comparison to H1 2012, the heyday on this front, the decline in new launches is a sharp 72 per cent with the luxury segment the worst hit, plummeting from a high of 450-500 units in a six-monthly period in 2012 to zero units in H1 2016. Source: The Hindu Business Line, July 5, 2016, Pune << Back