The Pune residential real estate market has seen an average appreciation of 15 per cent during 2012, according to the 2012 Pune Residential Real Estate Report released by Gera Developments.

The report based on field research conducted over the past year indicates that as of December 2012, there were 1,882 residential projects in Pune under construction or with ready-to-sell stock.

The gross supply during the year was 2,14,115 spread over 1,882 projects, of which 79.33 per cent was sold. The total unsold stock stood at 44,251 units. Of the unsold stock, 58 per cent are below 1000 sq ft in size. The 1,000-2,000 sq ft segment has seen a drop in supply.

An interesting insight is that the supply of homes above Rs 1 crore stood at 2,719 units and the segment between 75 lakh and one crore had 2,191 apartments. This means, 10 of the total supply is in the high-end segment — an indication of the push towards premium homes.

Aundh has seen the highest price gain of 94.17 per cent in the last two years, while Ghorpadi has seen the lowest gain of 13.68 per cent in the same period. Wagholi had the highest number of new residential units launched (4,183), followed by Undri (2,964) both in east Pune, while Talegaon and its neighbouring areas had 2,219 new units launched, making this the highest in west Pune.

The highest increase in the land rates over the last two years were seen in Undri (56.10 per cent), Kharadi (37.66 per cent) and Baner (36.51 per cent).

Residential real estate prices are expected to increase by 13 to 17 per cent in 2013, with a bias towards the higher side due to the expected reduction of home loan interest rates and pro-reform Budget stimulus, the report said.

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