Pune’s residential real estate demand to soar in 2013
Pune- Residential real estate sector of Pune is likely to witness stronger demand in 2013 owing to increasing interests among IT/ITeS and manufacturing sector employees, NRIs and Mumbai-based investors, according to global property consultant firm.
The average value appreciation of residential projects in Pune is expected to be higher in the coming year.
In the current calendar year, the average price rise for houses was 12% while 12-15% average appreciation is being expected for 2013.
The number of new launches in Pune dropped down this year. Hinjewadi, Kondhwa and Undri accounted for almost 40% of the total sales in 2012.
The supply was high in the mid-budget (Rs 50 lakh to Rs 1 crore) and luxury (Over Rs 1 crore) segments and this trend would continue in 2013. Super luxury segment (Rs 4 crore and above) too witnessed increasing supply of units in 2012, mainly in the Eastern corridor which encompasses Boat Club road, Koregaon Park, Kalyani Nagar and Viman Nagar.
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