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Pune Realty Market Underwent an Expansion of Just 22% in the CY June 2013
August 21 2014

Gera Developments, a well-known real estate conglomerate and creators of premium residential and commercial projects across Pune, Bangalore and Goa have released the Gera Pune realty report for the period Jan- Jun 2014. The report gives an in-depth analysis of the Pune's real estate residential market.  It also focuses on the impact of overall economic slowdown on Pune's real estate numbers over the last 6 months and clearly indicates that the same has had a bearing on the demand in the market place. 

 

Here are some important highlights of the Gera Pune realty report:

  • The assessment of the overall gross stock (defined as projects under construction and ready projects with more than 5% unsold stock and more than 10 units) reveals that the rate of market expansion has come down in the last 12 months. (June 2013 to June 2014)
  • The gross stock rose from 200,944 units to 245,674 units. (A rise of 22% as compared to the preceding year i.e. June 2012 – June 2013 that witnessed a rise from 152,311 units to 200,944 units, a rise of 31.9%)
  • The half yearly price increase has been the lowest in the years at 2.2% for the period Jan 2014 to Jun 2014.  

 

However, a counter effect of increased loading and extra charges has to an extent added to the price rise but does not show up in the normal analysis. 

  • The average price across the city is now just shy of Rs.5000 psf and stands at Rs. 4910 psf.
  • The average basket of homes has delivered a 41.29% rise in rates over the last 3 years where the average prices in June 2011 were at Rs.3475 psf. The 3 year compounded annual growth has been 12.25%.
  • Investors who have purchased homes 3 years ago with mortgage rates at 10.5% and loan to value of 80% would have seen an equity returns of 18.75% per annum. This shows that real estate is still an attractive investment especially when factoring in tax benefits and deducting entry load costs.

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It was indeed a pleasure being a part of the Christmas celebrations at Astoria. Kudos to the Gera team for bringing in such a wonderful event with great carol singing participation from our own kids. It brought in the spirit of Christmas and the games, Santa, the gifts only added to it. Thanks for organising such a wonderful event which helped in community building...looking forward to many more such celebrations!

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The Christmas event organised at Astoria was a big success and a big step in bridging the gap between us and Gera. It was a memorable event as we are still in the beginning of our journey of life in our little home at Astoria. The kids have been the happiest of all and what more can we ask for when we see smiles on the faces of our little ones. Kudos to you and your team for making this event a huge success! Looking forward to many more in the years to come.

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The Christmas party organised by Gera at Astoria this year was a great success with good participation from kids and parents. Our children Sia and Saish enjoyed the party to the fullest. Sia, in particular, had a gala time and reiterated her stand that Anita aunty's parties are THE BEST.... We as your customers take much pride in informing our friends that such goodwill gestures are one of the many differentiators Gera brings to us, which no other builder in Goa can boast of. Many thanks to you and your team for doing an excellent job in putting up this event. We look forward to the next one! A big thanks to the Gera Management for its efforts in community building.

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