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Pune: The city of Pune is constantly expanding, causing demand for homes in new areas and thereby boosting the faster development of these locations. Undri is not a new entrant on the Pune real estate landscape, but it is now gaining increasing prominence because of the massive rise in demand for affordable housing in this precinct.

The majority of property buyers are looking for homes that cater to their families’ needs while at the same time remaining affordable. With the NIBM area having yielded maximum demand that has resulted in a host of projects that are priced above baseline affordability, Undri has now become a major contender to catch the expanding demand from there as well as highly developed areas likeSalunke Vihar and Wanowrie.

Undri has now emerged as one of the most viable residential property destination in Pune. While for many years it lacked the kind of infrastructure that garners interest from the buyer and investor community, this is now changing rapidly. The demand from the city’s manufacturing and IT sectors has encouraged more and more developers to concentrate on this vibrant and promising area.

Importantly, areas like Undri are ideal for offering residential options to the budget homes buyer segments and at the same play a significant role in relieving the pressure of urbanization on the city. In fact, Undri now has many options both in the affordable and premium property categories, which is giving new prominence to the area,

In terms of location, Undri has very definite USPs. It is enticingly close to Pune Camp and has the additional advantage of being well connected to various key localities in Pune via local and interstate highways. At the same time, it retains its serenity and dense green cover protected by Government regulations, which has turned into a major draw for property buyers who are tired of the concrete jungle life with its pollution and traffic congestion.

Proximity to Wanowrie and NIBM ensures that residents in Undri have access to all necessities of daily living such as shopping, healthcare, entertainment and ample public transport. It is an ideal residential real estate location, and one of the few in the more central part of Pune which still offer the city’s laid-back natural charm at affordable rates.

Undri also benefits from its proximity to the IT and ITeS hubs of Magarpatta and SP Infocity and also the thriving high street shopping area of MG Road. As a result, Undri is increasingly patronized by employees from the close-by IT/ITeS companies. With the widening of the Katraj-Kondhwa-Phursungi-Solapur highway, Undri is going to be even more connected and accessible.

The fact that all parts of Undri will soon be included within the Pune Municipal Limits is attracting significant interest from property investors who are banking on incremental value growth on the heels of even more infrastructure development in this area.

MONETARY POLICY
The Reserve Bank of India (RBI) Governor Raghuram Rajan listens to a question during a news conference after the bi-monthly monetary policy review in Mumbai, India, September 29, 2015. REUTERS/Danish Siddiqui
Expert Views - RBI rate cut positive for growth and markets
The Reserve Bank of India cut its key repo rate by a bigger-than-expected 50 basis points to 6.75 percent on Tuesday, with inflation running at record lows and the economy in danger of slowing down.

Moneycontrol Bureau The Reserve Bank of India (RBI) lowered the benchmark repo rate by 50 basis points to 6.75 percent, while keeping CRR and SLR unchanged at 4 percent and 21.5 percent, respectively. This marks the fourth repo rate cut by the RBI since January 2015. However, it has lowered its FY16 GDP growth target to 7.4 percent from 7.6 percent. It also said the focus should now shift to bringing inflation down to 5 percent by FY17-end. The repo rate was last at 6.75 percent in March 2011. The focus of monetary action in the near term will now shift towards removing impediments in rate cut transmission by banks, the RBI said. It also intends to work with the government to ensure that banks pass on the bulk of the cumulative 125 basis points cut since January this year. "A further monetary policy accommodation will be conditioned by the abating of recent inflationary pressures, the full monsoon outturn, possible Federal Reserve actions and greater transmission of its front-loaded past actions," the RBI press release said. Governor Raghuram Rajan said the RBI intends to be as accomodative as possible given its inflation targets and with this 50 basis points rate cut, he has front-loaded action. However, the RBI cautioned that since the third bi-monthly statement of August 2015, global growth has moderated, especially in emerging market economies (EMEs), global trade has deteriorated further and downside risks to growth have increased. As far as India is concerned, a tentative economic recovery is underway, but is still far from robust, the RBI statement stated. However, there are a lot of questions on the impact of poor monsoon on inflation. The RBI said looking forward, inflation is likely to go up from September for a few months as favourable base effects reverse. The RBI expects the outlook for food inflation to improve if the increase in sown area translates into higher production. "Moderate increases in minimum support prices should keep cereal inflation muted, while subdued international food price inflation should continue to put downward pressure on the prices of sugar and edible oil, and food inflation more generally," RBI said. Rajan also expects pro-active supply-side management by the government. "It is important that pro-active supply-side management by the government be in place to head off any food price pressures should they materialise, especially in respect of onion and pulses." RBI said it expects CPI inflation to average around 5.5 percent in October-December and 5.8 percent in January-March 2016 and finally moderate to 4.8 percent in January-March 2017. The RBI has also said that foreign investment cap in government bonds will be relaxed in phases to 5 percent by March 2018. A hike in foreign investment limit in bonds will be announced every March and September. The foreign investment limits in debt will be fixed in rupee terms. In aggregate terms, this is expected to open up room for additional investment of Rs 1,20,000 crore in the limit for central government securities by March 2018 over and above the existing limit of Rs 1,53,500 crore for all government securities (G-sec). Also, the RBI said Indian corporates can now issue rupee denominated bonds with a minimum maturity of five years at overseas locations within the ceiling of foreign investment permitted in corporate debt (USD 51 billion at present).

Read more at: http://www.moneycontrol.com/news/economy/rbi-surprises-cuts-repo-rate-by-50-bps-keeps-crr-at-4_3306181.html?utm_source=ref_article

RBI surprises, cuts repo rate by 50 bps; keeps CRR at 4% The focus of monetary action in the near term will now shift towards removing impediments in rate cut transmission by banks, the RBI said. ..