Gera Developments, one of the pioneers of the real estate business in Pune and the creators of premium residential and commercial projects in Pune and Goa released the Gera Realty Report Pune for the period December 2012 - June 2013. This report which has now become an industry benchmark and an index for the Pune real estate market has been produced as a result of a detailed ground research. This report contains information gathered from 2273 projects having a total of 2,52,054 apartments at various stages of construction across the Pune Metropolitan Region and is by far the most extensive report published on the Greater Pune real estate scenario. The Gera Realty Report Pune for the period December 2012 to June 2013 highlights a significant infusion of supply in the form of 494 new projects alone adding 27,008 units. This led to the Pune Realty market expanding by 20.30% from December 2012 to June 2013 (as against 12% in the previous 6 months). Of the total stock, 79.5% is currently sold out. All in all this is a significant expansion of the market. Even with substantial supply being added, the market continues to show remarkable stability in terms of sellout - the average unsold stock has remained steady in the range of 21% since June 2011. Mr. Rohit Gera, Managing Director, Gera Developments while commenting on the report said, "The Pune residential market continues to show resilience amidst a negative economic environment at a macro level. At a local level, the fact that developers have launched projects in more numbers than ever before and the sellout ratio continues to be at the average market sell out indicates that the demand continues from home buyers. The price increases have also tapered off marginally in line with the reduction in inflation over the last 6 months. It is interesting to note that on one hand there has been a consistent shift towards catering to the high end segment of the market, however, the shift is more in the 3 & 4 bedroom segment. The Pune Realty Market is in an expansion mode with more premium homes being launched. On analyzing the price points across the market, there is a clear trend of larger apartments selling at higher prices. On the other hand, the micro markets have witnessed the maximum increase in prices over the last 24 months." Mr. Gera further added, "Looking forward, we believe that the next 12 months have more risks than the last few years on account of the impending national elections as well as the macro economic situation. We also expect the cost structures for developers to be negatively impacted on account of the Real Estate Regulation legislation that is currently being considered by the Government. The draft in its' current form will lead to a price rise - this is a fallout of the populist move by the Government to regulate developers and the effect of price rises for the home buyer can be considered collateral damage." Key Highlights of the report 1. Over the last 6 months, the average market price has risen from Rs. 4211 per sq. ft to Rs. 4464 per sq. ft up by 6.01%. 2. The total unsold stock of 51,725 is approximately 6½ months of inventory which is a very comfortable situation from an inventory overhang perspective. 3. A total of 15,478 apartments are unsold in the size segment of 751 sq. ft. to 1000 sq. ft. 60% of the unsold apartments under 1000 sq. ft.which is 31,252 apartments out of a total unsold stock of 51,725 apartments. 4. There is a notable increase of supply in the 501-750 sq. ft.size segment, with stock climbing up sharply by 28.72% (from 11,145 in Dec-12 to 14,346 in June 13). 5. Roughly 53% of the stock is below the 40 lakhs cost bracket while 87 % of the stock is under 75 lakhs. 6. Approx. 13% of the unsold stock is above 75 lakhs. The presence of almost 13.15% of unsold apartments in the 75 lakh+ bracket (as against 11.52% in December 2012 & 7.2% in June 2012). 7. The average rate across all micromarkets put together is Rs. 4464 per sq. ft.Amongst the top ten highest gainers Bakori/Bolhai/Shirsatwadi has witnessed highest price appreciation of 75.67% followed by Vishrantwadi/Kalas with 50.88% and then Erandwane/Karve Road/Karvenagar/Kothrud belt with 49.01%. 8. The top two areas with the maximum new supply are Wagholi with 3700 units and Chakan with 3243 units. All in all, the market currently seems to be in a state of equilibrium, however, the absolute number of unsold units can lead to a situation of oversupply if the macro economic conditions deteriorate drastically. The depreciation of the Rupee in the recent past makes it attractive for NRIs to invest in India thereby providing developers an alternative customer base. Source: Equity Bulls http://www.equitybulls.com/admin/news2006/news_det.asp?id=127183
I’ve been a sports person, and also captained my throwball and volleyball teams. I understand the importance of extracurricular activities in our growing up years.
Trainings provide a child with the required discipline when working within teams as well as gives one the chance to follow what makes you happy. It also enables an overall development!
Dance has been my passion since I was a child and I have been thrilled to see both my little ones have this in their genes too.
This opportunity really came to my doorstep through Gera. My daughters Lavanya and Diya have had an enthralling experience being a part of not just one but three Academies (The Shiamak Davar Dan..
I cannot thank you enough for making our journey with Gera so so interesting and mind-blowing. I had never ever imagined my life taking a beautiful turn with me beginning to start my career as a music teacher that too with SMA (Shankar Mahadevan Academy) and all this has been possible only because of GERA and YOU my dear.
It is only because of your efforts and kind gesture that I could meet the man himself (Shankar Ji) and have a small recording session with him. That was like a dream come true.
I am super excited to start my journey with SMA and Gera as a teacher now.
Apart from that, Me and Prateek have always been grateful to you for making Shiamak happen for us and I ..
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!..
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...
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...