Property deals in Purandar continue to remain sluggish despite the government’s push for the proposed airport project in the region. Here are some key points to understand the current scenario:
1. Slow Pace of Transactions: Official data shows a minimal increase in property transactions, with only 3,602 registered sale documents last year compared to 3,315 in 2023.
2. Factors Behind the Sluggish Market:
– Pending Land Acquisition Notification by MIDC causing uncertainty among potential buyers and investors.
– Resistance from villagers who are hesitant to give up their land for the project.
– Developer hesitation due to lack of clear timeline and land acquisition framework.
3. Current Developments:
– MIDC designated as nodal agency for the project, but no immediate directives have been issued.
– Possibility of a freeze on transactions post-notification, adding to the uncertainty in the market.
4. Challenges for Stakeholders:
– Lack of investor confidence due to unclear property rights and project progress.
– Market dynamics in Purandar reflecting the overall uncertainty in the region.
– Uncertainty impacting announced projects and hindering significant investments.
5. Important Points for Stakeholders:
– Buyers and investors advised to await formal notifications and monitor government announcements.
– Developers urged to conduct thorough market research and engage with local stakeholders.
– Government and MIDC should accelerate land acquisition notifications and address local resistance transparently.
The Purandar airport project has the potential to transform the region, but decisive government action and clear communication are essential to boost real estate and infrastructure development. Until then, stakeholders are likely to remain cautious, waiting for concrete progress on the project.
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