Your browser version is 8.0 and the minimum required version for this
website is 9.0 So please use IE 9+.
click here to upgrade IE
Facebook Icon
Twiiter Icon
Youtube Icon
Google Plus Icon
LinkedInIcon
Great Place To Work Logo
Call:   +91 89 2854 1424


Gera in News
 
 
 

Pune real estate: 2013 highlights and 2014 way forward

Magicbricks.com - 10 January, 2014

Pune real estate in 2013

The Pune real estate market showed tremendous resilience in the face of head winds from both supply and demand. On the supply side, the first six months saw an increase in the total market supply by nearly 21 per cent. Year 2013 saw the largest increase in supply and inherent demand was also demonstrated. While the launches of new projects have continued unabated over the course of the year, the demand has seen a slight drop on account of the negative sentiments, inflation and economic slowdown. The outcome of supply being up and demand showing a marginal decline has led to a multiplier effect to the sales numbers of the developer community. However, despite this, the prices across most micro markets have been trending upward through the year. This indicates that there is clearly a demand and developers are overall comfortable with their inventory thereby, being able to retain pricing with an upward bias. Inspite of poor sentiments and comparison to Mumbai, the Pune real estate customers continued to buy homes. Though the numbers were less it was not reduced to an extent which caused price correction. Year 2014 will continue to see demand for housing.

Trend in prices

The wakeup call to the UPA government has led to a number of policy steps being undertaken over the last quarter. This, followed by the outcome of the state elections indicating the likelihood of an NDA government being formed at the centre, has led to a mood of cautious optimism for 2014. With inflation at current levels, finance not being available to developers leading to high costs of finance, delays in approvals leading to higher holding costs, does not has much head room for prices to drop. We expect that prices will continue to see an inflation-led increase across micro markets (barring the odd case of developer distress) through the year. However, a clear mandate to the NDA government will set the stage for a smart recovery of sentiment and correspondingly purchase of homes in the second half of the year leading to a steeper price increase during the second half of the year. I anticipate that with the NDA government, as is indicated by the recent state elections, we will see a boost in the realty sector in the second half of the year 2014. There is an inherent need for homes across the country and while this need has translated to marginally lower demand during 2013, it is a matter of time before the need converts to demand. Hopefully, 2014 will be the year this happens in a big way.

Rohit Gera, MD, Gera Developments. "The views expressed in this article are the author's own."

News Archive
 
 
 



Testimonials

It has been a wonderful experience in owning a commercial space at Gera's latest offering in Goa GERA GRAND.

Read More

How has your experience been of owning a commercial space with Gera?

My experience has been excellent. I have purchased an office in Gera’s Imperium 2 and a s..

Having a commercial space in and around Panjim was our long desire and this could be possible with Gera’s.

Patto Plaza has ..

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.

..