Pune real estate price reaches highest in June
The Gera Pune Market Intelligence Report released recently by Gera Developments has revealed that the price of real estate in June 2012 reached the highest in the last four years.
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.
The report further added that prices are likely to rise due to implementation of Maharashtra Housing Regulation and Development Act.
The 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.
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