Pune residents queue up for hours to buy ₹2 crore apartments | Video

Maharashtra’s Pune residents were seen purportedly standing in a queue for as long as eight hours to buy apartments that range between ₹1.5 crore to ₹2 crore. The video of the same became viral on social media.

According to the tweet, the long lines were seen in the Wakad area, situated 15 km away from Pune main city.

The video was shared on microblogging site ‘X’. In the video a long queue of people could be seen standing outside a building, waiting to go inside to take a look at the houses.

The user posed a question in the caption, asking if others would be willing to wait for eight hours to buy a house.

See the video here

(Mint could not independently verify the location of the video)

The video, which has gone viral, saw many comments from users. Some said they would not wait for such a long time to buy apartments while others refused to believe what they had seen in the video.

“Never ever. I don’t think who is standing there are those who has 1.5cr or 2cr in account. Most of them standing to get the bank business good,” one user wrote.

“Difficult to believe. Could be a builder’s marketing strategy with some hired people. But I feel the same way for iPhone launch day queues, so I could be wrong,” another user wrote.

“This is totally misleading. these all folks are channel partners waiting for the event and not the actual buyers,” a third user wrote.

According to a recent report by MintGenie, Mumbai city, within BMC’s jurisdiction, recorded 4,594 property registrations during the nine-day Navratri period from October 15th to October 23rd, 2023, marking a 37.4% year-on-year (YoY) increase.

A report from early October also stated that Gurgaon real estate community was buzzing with news of a substantial Rs100-crore transaction involving a 10,000 square feet apartment at The Camellias by DLF on Golf Course Road.

As per a joint report by Knight Frank and National Real Estate Development Council (Naredeco) released in August 2023, India’s real estate sector is expected to expand to $5.8 trillion by 2047, contributing 15.5% to the GDP from an existing share of 7.3%.