Pune buyers still eye luxury homes
There are still buyers for the super luxury home segment in Pune. Developers claim that despite depressed market conditions, this niche segment continues to attract investors. However, some of them have had to bring down rates to lure customers. Marvel Realtors, automated super luxury homes maker says that sales have picked up in the last one and half months due to correction in rates and banks easing lending. "Initially, buyers were holding decisions. With some correction in rat,es, they feel they are getting value for money. We have offered discounts of 10% to 15% less, than what we were selling at peak season rates," Vishwa-jeet Jhavar, CEO, Marvel Realtors said. Marvel has sold around Rs 20 crore worth properties in the past one and half months. "The first phase of Marvel Diva of around 3 lakh square feet is ready for possession by May 2009 and we sold 2.40 lakh square feet. These flats are in the range of Rs 80 lakh to Rs 5 crore," Jhavar said. The super 1uxury