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
Call:   +91 89 2854 1424

Gera in News

Mumbai property show trips on price front

Financial Express - 4 March, 2015

If the value of unsold under-construction real estate inventory in Mumbai is anything to go by — R53,400 crore for a clutch of listed firms — consumer confidence isn’t exactly soaring.

If the value of unsold under-construction real estate inventory in Mumbai is anything to go by  — R53,400 crore for a clutch of listed firms — consumer confidence isn’t exactly soaring. What’s worse, with an additional R36,800 crore of launches across 20.4 million sq ft expected — half of it in the south central part of the city — it is possible prices will be under pressure.

An analysis by Kotak Institutional Equities (KIE), from which the numbers have been taken, says land buying has dropped and prices are not going up as only four or five developers have the capacity to buy land worth more than $200 million.

Pricing still remains high in certain markets but is not increasing anymore,” the report notes.

Niranjan Hiranandani, co-founder of Hiranandani Developers, believes price points are now crucial since only relatively affordable projects are able to find takers. “The high-end properties in the central and southern parts of the metropolis aren’t seeing interest,” Hiranandani confirmed to FE.

Ghulam Zia, executive director, Knight Frank India, observed that first-time home buyers continued to sit on the fence. “In the absence of any incentives for home buyers in the Budget, the market will get revitalised only once the RBI (Reserve Bank of India) begins to cut interest rates,” Hiranandani observed.

KIE’s analysis shows HDIL, DB Realty, Oberoi Realty, Godrej Properties, Peninsula Land, Sunteck Realty and Indiabulls Real Estate are among those property developers that are sitting on high inventories, most of which is inthe  south and central pockets of Mumbai — Lower Parel, Worli and Prabhadevi.

Ambar Maheshwari, CEO, alternate investment funds, Indiabulls Group, also believes  there’s a glut at the premium and high ends of the market. “A recovery is unlikely in areas like Prabhadevi and Lower Parel unless developers build smaller apartments that result in  some kind of rationalisation in prices,” Maheshwari said.

Oberoi Realty has targeted selling its unsold inventory in the next 12 months by March 2016 but KIE expects the company will only be able to sell R8,500 crore worth of residences in the next 30 months. According to the latest data issued by the director general, registrations, Mumbai, in the first 11 months of 2014, property registrations fell 2.4%.

The report says developers are giving discounts after definitive interest from buyers. Channel checks suggest a large number of units are being sold in the 20:80 schemes (without a bank debt burden) and trip abroad for designing apartments. Discounts are becoming more evident as developers are also offering absolute discounts to buyers now, the report adds.

However, such measures are clearly failing to impress buyers. In certain markets developers are selling 20-30 units a month while in others they could be selling two to six a month, it stated. Amit Bhagat, CEO & MD, ASK Property, pointed out that demand was tepid in the luxury space so any developer who was leveraged might be under pressure.

News Archive


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.