Gera Realty Report Pune for the period December 2012 – June 2013 highlights a significant infusion of supply in the form of 494 new projects adding 27,008 units. This has led to the Pune realty market expanding by 20.30% from December 2012 to June 2013 as against 12% in the previous six months. Of the total stock, 79.5% is currently sold out.
The report contains information gathered from 2273projects having a total of 2, 52,054 apartments at various stages of construction across the Pune Metropolitan Region and finds Pune as remarkably stable in terms of sellout. On analyzing the price points across the market, there is a clear trend of larger apartments selling at higher prices but on the other hand, the micro markets too have witnessed the maximum increase in prices over the last two years.
The report also states that though the market currently seems to be in a state of equilibrium, the absolute number of unsold units can lead to a situation of oversupply if the macro economic conditions deteriorate drastically. However, the depreciation of the Rupee in the recent past makes it attractive for NRIs to invest in India thereby providing developers an alternative customer base.