2012: Pune residential demand up

Sunil Rohokale, CEO & MD

According to Pune residential property market prepared by ASK Property Investment Advisors, the demand for houses during 2012 will remain firm with an upward bias, contrary to the trend in several other Indian major cities.

This is the first amongst 7 cities where the real estate private equity arm of ASK Group has conducted a detailed survey and compiled a report.


Mr. Sunil Rohokale, CEO & MD, ASK Investment Holdings, said, ''“The IT sector will create 1 lakh jobs in 2012 leading to increased requirement of houses, and we expect this to be sustained at 50,000 flats/houses compared to 40,000-45,000 units last year."

 Mr Rohokale also said, '' Pune is one of the most affordable places in the country. The fastest moving locations are Baner, Kharadi, Kondhwa, Hadapsar, Dhayari, Bavdhan and Sinhagad Road, while the average age of buyers seeking home loans has dropped from 47 in 1998 to 28 in 2011."

Highlights of the Survey Report..!

# The services led economy of the Pune city is the key growth driver for investment in houses, while the earnings from the agro-driven economies in neighbouring towns such as Sangli, Satara and Kolhapur will also impact the demand positively.
 
# It covering 1,400 projects concludes that 2 B H K flats account for over 50% of the demand, followed by 3 B H K,while buyers consider Rs. 45-60 lakh band as “affordable”. The rate ranges from Rs 4,000-6,000 per square feet.

The ASK Group has invested a total of Rs 100 crore in realty projects in Pune.

About ASK Group
The ASK Group is a well diversified and renowned Financial Services Group. Today, it is positioned at the summit in the areas of portfolio management, real estate investment and advisory and wealth advisory services managing the wealth of some of the richest families in India.

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