Pune: Pune’s real estate market has seen a dip in sales with unsold stocks (inventory with developers for sale) showing a jump of 36.85 per cent and slowdown in price appreciation hitting 3.33 per cent between June 2014 and June 15.
The unsold inventory is valued at Rs 48,526 crore, blamed largely on a market slowdown. These findings were shared by Gera’s Pune Realty Report for January-June 2015 on Thursday.
Some of the main reasons for the slowdown include a supply-demand gap, as the total inventories have increased from 2,45,639 homes from 2,761 projects in 2013-14 to 2,80,931 homes and 3,067 projects in the last 12 months. The other reasons include high banking interest rates, which are deterring new buyers and high government taxes.
While commenting on the Gera Pune Realty Report, Rohit Gera, Managing Director of Gera Developments, said, “While our findings indicate that the market is facing stress on various counts, this is the right time for buyers to invest as the prices are currently flat.”
However, these challenges can lead the developers to focus on providing a better product, a more customer-centric approach and greater focus on delivery track records to remain competitive.
Meanwhile, Shantilal Kataria, President of CREDAI (Pune Metro), said that the large number of unsold inventories does not mean there is a reason to panic for developers.
“The high number of unsold inventories does not mean that ready-made projects are going unsold. Developers are confident that the market can easily absorb these inventories as it has several sectors like IT, education and manufacturing, which can fuel growth in the real estate sector,” he said.
Gera’s Pune Realty Report findings
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.