Pune property rates to be steady: Study

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, launched the first-ever detailed report on Pune real estate on Thursday. According to the report, property rates in Pune are expected to remain steady, with upward bias in growth corridors due to sustained demand.

The report, which covers the residential real estate requirement and supply of Pune urban agglomeration, is based on the economic and demographic profile of the city.

During the launch of this report, Sunil Rohokale, CEO and MD of ASK Investment Holdings said, “The outlook of the Pune real estate market is based on the rapid growth of the city, driven by strong economic activity and migration.” Being the hub of service and manufacturing jobs, Pune is expected see sustained creation of up to 1,00,000 jobs, leading to increased requirement of houses. The proximity of the city to major towns like Sangli, Satara and Kolhapur makes it a preferred destination for investments, he added.

The requirement of houses based on demographic and commercial space indicates that requirement for houses are expected to be sustained at 50,000 units in 2012, as compared to 40,000 units in previous years.

ASK Group, which has emerged as a leading player in the real estate fund business, manages domestic real estate funds of more than Rs1,000 crore. In Pune city, the group has invested in projects worth over Rs525 crore.

This initiative of the group rests on extensive investment and asset management expertise backed by strong research focus.