| Back to News List |
With demand playing a pivotal role, home buying in Pune has not abated, according to a recent report
The Pune Metropolitan Region real estate market continues to show signs of stability in terms of demand and supply, according to a recent study by Gera Realty. The report notes that home buying in Pune has not abated, judging by the increase in the sellout ratio from 78% to 80% from December 2011 and an increase in the property rates in the last one year.
"An increase of 2% in the sellout ratio is evidence to the fact that demand is pushing the prices up, else you would have seen demand slowing down with a price increase," the report observes. "The fact that this has not happened goes to show that fundamentally the real estate sector is backed with active demand participation. Clearly then, with demand playing a pivotal role the real estate sector remains as solid as ever," it says.
The survey involved a total of 1695 projects across the city and those projects that were under construction or ready but with some stock available to sell were considered in the analysis. The 1695 projects have a total of 178,775 apartments at various stages of construction. Of the total 1,78,775 apartments, 36,124 (20%) apartments are available for sale indicating a high sellout of 80% (142,651 apartments), the report notes.
The availability 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 availability is significant as it indicates a reduction in the overall stock of apartments in the city," the report notes. "This is especially important as this reduction in availability has happened during a period where inflation has been significantly high, interest rates have risen and the overall sentiment has been bearish during the last 12-18 months."
On the whole however, the data indicates that there is no scope for any reduction in prices, the report adds. Prices have moved up approx. 11.63% in the last 12 months. The report also notes that roughly two thirds of the stock is below the 40 lacs cost bracket, and that approximately 7% of the unsold stock is above 75 lacs. QUICK BYTE
DATA ACCORDING TO A RECENT REPORT INDICATES THAT THERE IS NO SCOPE FOR ANY REDUCTION IN PRICES
5-Year Warranty on Real Estate
-
"Truly felt secured while dealing with Gera’s...Especially during the initial stage which made me consider Gera instead of other builders in town.The details given on the construction quality and the advantages of buying a Gera Home, were truly were the insights into the construction industry..
-
"We feel extremely lucky to own a Villa at Gera’s SkyVillas. Our choice of the property was because of its 'Villa feel' and the conveniences of a multistoried apartment building. The location is excellent for its proximity to Air, rail and bus stations and the city..
-
"Coming Home", takes on a new meaning when one shifts into his own house. This much awaited even occurred in our lives in the month of June this year, after months of "shall we....shan’t we " we finally decided to take the plunge and move out of our comfort zone to brave the..
-
"I would like to take this opportunity to thank Gera’s and also say that I am happy to have purchased a home at your esteemed Project Astoria in Caranzalem ,Goa. The picturesque location of the building attracted me towards it in the first place. The state of the art amenities provided on site, the easy access to all public facilities..
-
"I am very pleased with the type of coordination and cooperation provided by team Gera. I have been in touch with them from Manipur and when I reached Goa I had everything ready. The unit was neat and clean and I didn’t have anything to point out. Even though there has been a delay, I am very pleased and happy with my flat..
-
"As I took possession of my unit at Astoria, I felt proud to own a flat at Gera’s Astoria. I can see that the place is developing like Resort Style Residences with all amenities like Swimming Pool, Gym & Club house. The clean and sparkling..
-
"I feel so lucky and blessed on our decision to invest with Gera’s. In between when there was a standstill with the project we were taken aback, but I guess Gera’s have regained the trust back. The location is excellent for its..
-
"… like any other Indian middle class family whose dreams are bigger than their earnings, we were wary of the cost and the trust as we ventured to invest in an apartment. We were quite sure we would be unable to settle our above two concerns in one single project..
-
"On the auspicious day of Dushera I took possession of my dream home at Gera`s Astoria. I have been anxiously waiting for this day and I am happy that the wait has not been futile. I am delighted that the project has turned out the way me and my family has dreamt about it.Truly appreciate the combined effort by the..
-
"I have purchased an apartment at Gera`s Astoria and wish to state that - “We Liked Astoria when we saw the advertisements in the newspapers. We were interested in buying a bigger apartment but the first and foremost thought that crossed our mind was that, since the builder is not from Goa will the project..
-
"I have purchased a premium apartment at Gera`s Astoria and wish to state that - “We are delighted to see our dream home taking shape. It is exactly as we had envisioned it to be..
-
"I have purchased a luxurious apartment at Gera`s Astoria and wish to state that: “One has to experience the rooftop at Astoria to truly understand what I want to express about Gera’s Astoria. It’s a tall building overlooking the marvelous Miramar Beach and the best part of this project is the top terrace..
-
"When we booked a place at Astoria, the longtime wait was very inconvenient and disappointing with the constant change in the management; it had been utterly heartbreaking as it seems that my problem was just not understood. However, as time passed by we saw a sea change in the approach and realized that..
-
"Everyone dreams of buying an apartment/ house/ plot etc. but we feel that, one always wants to deal with professionals, who would pamper you on each stage with their professionalism, then they should deal with GERA..
-
"I have purchased a spacious office space at Gera`s Imperium II and wish to state that “Setting up an office in Gera`s Imperium has many advantages: It’s one of the first Commercial Complexes in Panjim with a strikingly beautiful glass façade and impressive elevation. I was impressed with the hi-tech building management..
-
"I am a mother of 2…. and when we decided to by an apartment in downtown Panjim. We knew we were looking for a project where our children would really have lots of things to do! My husband and I loved the list of features and amenities that Gera`s Astoria had to offer! That sort of sealed the deal for us… our kids cannot wait to..
-
"I decided to book a flat with the Gera Project coming up in Baner because – I wanted a spacious flat and the area of 1600 sq/ft is very attractive. The layout of the house is also very good. I like the spacious bathrooms and the utility rooms that are provided. The project is nicely situated. Just a little inside from the main Baner road without..
-
I decided to book a flat in Emerald city, Baner, because of it’s good layout and design. I really liked space utilization done with underground parking which leaves a lot of open area for children playground. The design of the flats is also good with lots of privacy for each flat and good room layout. Baner is a good choice to take flat in with Aundh..
-
"I found the entire team of Gera Developments totally professional in their approach. Each of the persons knew their jobs, which made things most convenient for us..
