fe Bureau Pune, Feb 8: Developers in Pune are going slow on new launches. Around 716 new projects were launched in Pune in December 2011 as against 616 new projects in June 2011 and 325 new projects in December 2011, a 'Gera Realty Report – June to December 2011' an in-house study on Pune's real estate market prepared by Gera De-velopments, a Pune realty company says. This trans-lates into a new stock of 38,093 units in December 2010,down to 33,045 new units in June 2011 and 18,428 new projects in December 2011 clearly indi-cating a reduction in the num-ber of new projects, Rohit Gera, MD, Gera Develop-ments said. "Developers are taking the more cautious outlook and are working on their projects in a phased manner unlike the past in 2007-08 when they would end up creating stock first,” Gera said.“The overall mood over the year has been pretty gloomy - interest rates have been rising last year, in- flation has been stubbornly high, industrial production has been down, the Europe crisis has been an overhead dark cloud rearing its ugly head in every scenario. All these macro economic trends have led to the industry turn- ing cautious. Real estate is no different. Developers have therefore been quick to adjust their project launches in tune with the sentiment and mood of the market,”he explained. However, the the real es- tate market in Pune metropol- itan region shows signs of stability in terms of demand and supply, he said. A total of 1,695 projects across the city across 20 micro markets were considered for analysis by the company. The 1,695 projects have a total of 178,775 apart-ments at various stages of construction. Of the total 1,78,755 apartments, 36,124 (20%) apartments were avail-able for sale indicating a high sell-out of 80% (142,651 apart-ments), he said. The avail-ability was 22% six months ago (38,323 apartments out of 174,981 apartments) and 25% 12 months ago (39,376 out of 160,255 apartments). "This reduction in avail-ability is significant as it indi-cates a reduction in the over-all stock of apartments in the city. This is especially impor-tant as this reduction in avail-ability has happened during a period where inflation has been significantly high, in - terest rates have risen and the overall sentiment has been bearish during the last 12-18 months,”Gera said. Interestingly, home buy-ing has not abated as seen in the increase in the sellout ra-tio from 78% to 80% from De-cember 2011 and an increase in the property rates in the last one year, the report said. Gera said that a 2% rise in the sellout ratio is evidence to the fact that demand is pushing prices up or else demand would have slowed down with the price increase. The high sellout from the developers perspective indi-cates an extremely healthy cash flow position and on the whole the data indicates that there is no scope for any re-duction in prices, he said. Given the direction of infla-tion,indications from the RBI that interest rates will soften, the current cost structure for developers and most impor-tantly the overall stock posi-tion, price movement in 2011, Pune could see a price rise of 15% to 18% in 2012, Gera pre-dicted.
First of all I would like to thank you and the Gera team for organizing different workshops at our doorstep.
The best thing I have done to my kids is that I took a right decision to buy a flat in Gera.
Because of this decision , Vishnu could attend the development workshops that were conducted.
Vishnu was a shy child who didn't like to participate in any of the programmes.
As far as Dale Carnegie workshops is concerned it has given him a lot of confidence and was presenting things in a much better way and I can see a lot of improvement in him.In simple words u made a person(..
My son Tattva had been enrolled in the intermediate level and has been coached by the Vishwanathan Anand Chess Academy coach . Tattva has made remarkable strides and will be on his way to get his FIDE rating in November. A lot of credit goes to the mentor for his unique way of handling his students. He has been very patient while working with Tattva on his areas of improvement. In addition before the tournament the coach had voluntarily added additional classes and doubled his efforts to get a better performance out of Tattva. He has shown complete ownership which is commendable. I hope he continues to develop more and more chess players in the coming days...
It's a wonderful experience with the tennis academy and my daughter liked it. Also she is getting good training and love for the game.
The coaches are good and we would continue using their expertise for Nishita going onwards. We are also looking forward for signing (actually instrument) and dancing coaching too.
This is to share with you that both my little girls (Aditi Anisha) are really enjoying their Tennis classes at the Mahesh Bhupathi Tennis Academy.
I always find them very excited whenever there is TENNIS CLASS, and this excitement matters to both of us, as the kids seems to be interested.
It’s nice to see them constructively engaged, and coming home happy and having felt productive in their own child little way. It’s a great way for them to bond with other young ones and feel belonged to a larger community.
Thanks to You, Gera Developments and MBTA for giving our young ones, an opportunity for a wonderful learning experience.
Now they are looking forwar..
Regarding the workshops & different academy sessions, it has been wonderful experience so far for Shlok and we’re looking forward for the new opportunities.
It’s absolutely fantastic to have all these academies in the premises, and that too from the renowned personalities, so we can send kids without worrying about other factors like safety & all.
And most importantly, a big thanks to you for the lovely follow-ups & timely updates about the upcoming/ongoing sessions.