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Gera in News


Times Of India { Property Times } Page 04 - 1 February, 2012

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

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