Pune realty market expanded by 25% in 2013: Gera

Real estate market in Pune has been expanded by 25.26 per cent in 2013. According to the Gera Pune Realty Report, after a 20.30 per cent increase in the first half, the market grew by only 4.12 per cent during the second half.
The report, released by Gera Developments, gives an in-depth view of the Pune Realty market for the period July 2013 to December 2013 indicating an increase in supply through the launch of 41,607 units of which 19,209 units were in new projects while 22,398 units were added by way of new phases in existing projects. Also over the last 6 months, the average market price has risen from an average of ` 4,464 per sq. ft. up to ` 4,804 per square foot reflecting an increase of 7.66 per cent for the second half of 2013.  The average price a year ago was ` 4,211 per sq. ft., the Y-o-Y increase from Dec‘12 to Dec’13 has been 14.13 per cent. Both the six monthly and yearly average market price have increased significantly, after going through a short term correction.

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