Pune property market records 78% sellout in Pune region: Gera Realty Report

Gera Realty Report on the Pune real estate market highlights 78% sellout in the Pune Metropolitan region with the 20 micro markets witnessing the highest price rise in the last 6 months

Pune: Gera Developments, one of the pioneers of the real estate business in Pune and the creators of premium residential and commercial projects in Pune and Goa released the Gera Realty Report Pune for the period January 2011 – July 2011. This report is the first in the series that has been produced as a result of detailed on the ground research. Since the report is based on past and recent data, it provides comparative data as well.
This report contains information gathered from 1846 projects having a total of 1,74,981 apartments at various stages of construction across the Pune Metropolitan Region and is by far the most extensive report published on the Greater Pune real estate scenario.
There has been no credible data about the Pune real estate market thus far. At best there have been guesstimates. The problem has been further compounded by the fact that greater city is governed by 3 jurisdictions (the Pune Municipal Corporation, the Pimpri Chinchwad Municipal corporation and the Town Planning department).
Rohit Gera, Managing Director, Gera Developments while commenting on the report said, “We have been conducting research on the supply side of the market over the last few years. We have been tracking project launches, prices, sales/off-take etc across the entire Pune Metropolitan Region.
It is our belief that the market shows no signs of distress and that while the rate of growth of prices on an average may slow down, notwithstanding some structural shift in the overall economy, we will not see a reduction in prices. The marginal slowdown in the rate of increase of prices can be attributed to the increase in interest rates. Inspite of the dark clouds looming large over the US and Europe, the IT sector continues to show good results and more importantly for the real estate sector continues to recruit personnel and lease additional space. This bodes well for the realty sector.”