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Pune Realty Market Underwent an Expansion of Just 22% in the CY June 2013

August 21 2014

Gera Developments, a well-known real estate conglomerate and creators of premium residential and commercial projects across Pune, Bangalore and Goa have released the Gera Pune realty report for the period Jan- Jun 2014. The report gives an in-depth analysis of the Pune's real estate residential market.  It also focuses on the impact of overall economic slowdown on Pune's real estate numbers over the last 6 months and clearly indicates that the same has had a bearing on the demand in the market place. 

 

Here are some important highlights of the Gera Pune realty report:

  • The assessment of the overall gross stock (defined as projects under construction and ready projects with more than 5% unsold stock and more than 10 units) reveals that the rate of market expansion has come down in the last 12 months. (June 2013 to June 2014)
  • The gross stock rose from 200,944 units to 245,674 units. (A rise of 22% as compared to the preceding year i.e. June 2012 – June 2013 that witnessed a rise from 152,311 units to 200,944 units, a rise of 31.9%)
  • The half yearly price increase has been the lowest in the years at 2.2% for the period Jan 2014 to Jun 2014.  

 

However, a counter effect of increased loading and extra charges has to an extent added to the price rise but does not show up in the normal analysis. 

  • The average price across the city is now just shy of Rs.5000 psf and stands at Rs. 4910 psf.
  • The average basket of homes has delivered a 41.29% rise in rates over the last 3 years where the average prices in June 2011 were at Rs.3475 psf. The 3 year compounded annual growth has been 12.25%.
  • Investors who have purchased homes 3 years ago with mortgage rates at 10.5% and loan to value of 80% would have seen an equity returns of 18.75% per annum. This shows that real estate is still an attractive investment especially when factoring in tax benefits and deducting entry load costs.

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