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
LinkedInIcon
Great Place To Work Logo
Call:   +91 89 2854 1424


Gera in News
 
 
 

REAL ESTATE PRICES HIGHEST IN PUNE IN FOUR YEARS

The Indian Express - 1 August, 2012

The Gera Pune Market Intelligence Report released recently by Gera Developments has revealed that the price of real estate in June this year was the highest in the last four years and is likely to increase now that the Maharashtra Housing Regulation and Development Act has been implemented. “The average price across market in June 2011 was Rs 3,467 per sq ft, which moved up to Rs 3,647 per sq ft in December, 2011 and Rs 3,955 sq ft in June this year. This reflects that the prices have moved up by approximately 14.08 per cent in the last 12 months as compared to 10.66 per cent for the previous year,” said Rohit Gera, managing director, Gera Developments. The Maharashtra Housing Act makes it mandatory for all projects, where the occupancy certificate is not issued, to register with the Housing Authority and to hold back 10 per cent of their built up area to be sold only after occupancy certificate is obtained for the project. “This rule will mean that out of 1,59,832 units that are currently under construction at various stages, there would be an unsold stock of 37,941 units. Of this, 10 per cent of the total stock i.e. 15,983 units will need to be put on reserve and cannot be sold until the occupancy certificate is obtained. This will create an artificial shortage and reduce the available stock by 42 per cent, leaving a total of 21,958 units available for sale. The total stock for sale will be 27,322. This is only 13.44 per cent of the total supply. We believe this will create an upward pressure on prices,” said Gera. The report reflects that despite a growth of 16.6 per cent in real estate projects in the city in the last 12 months (June 2011 to June 2012), the unsold segment stands at 21 per cent. A maximum of this unsold stock is in the price range of Rs 40 lakh to Rs 75 lakh. “The total unsold stock (flats) has increased from 36,124 units in December 2011 to 43,305 units in June 2012,” said Gera. About1,821 projects across the city with a total of 2,03,186 apartments were surveyed for the report. Of the 2,03,186 apartments, 43,305 (21 per cent) apartments are available for sale or are unsold stock. Of the unsold number of apartments, 24,004 (55 per cent) are under 1,000 sq ft between the price range of Rs 40 lakh and Rs 75 lakh, he said.

News Archive
 
 
 



Testimonials

It has been a wonderful experience in owning a commercial space at Gera's latest offering in Goa GERA GRAND.

Read More

How has your experience been of owning a commercial space with Gera?

My experience has been excellent. I have purchased an office in Gera’s Imperium 2 and a s..

Having a commercial space in and around Panjim was our long desire and this could be possible with Gera’s.

Patto Plaza has ..

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.

..