Last quarter had not been as well various, if you compare it with the January-March quarter, the April-June, we were able to do about 0.45 million, which was practically 50,000 square feet, less than just what we had actually done in the previous quarter, so not excessive impact as far as numbers go, since last quarter. As a matter of fact the average price realisation for us had to do with 3-4 percent more on a quarter-on-quarter basis as compared with the last quarter of last fiscal year.
We do not prepare to in fact postpone any one of our launches once we obtain the authorizations. Infact we introduced Margosa Heights Phase III in the last quarter which received suitable response, that is a job in NIBM area, then we have actually pre-launched 2 of our upcoming launches one Pre Launch Housing Projects In Pune remains in Kharadi, various other is again in NIBM. Both the pre-launches were halfway decent successful I would think as well as we will certainly proceed with the launch intends according to the original plans. We are not changing any of our plans for launches already.
I would assume if we are speaking about eastern residential areas Kharadi continuouslies do effectively, Wagholi once again continues to do extremely well due to the fact that it is economically priced in the bracket of Rs 3,500-4,000. Clearly, Kharadi is that, preferably valued at in between Rs 5,000-Rs 7,000 a square feet. Once more, on the Western side we continue to see great traction in the marketplace of Aundh, Hinjewadi, Baner for a rightly sized product. Certainly, in a few of these markets you additionally have bigger items that are targeted towards high net worth person (HNI) segment. Yet if you have actually a rightly sized and also rightly priced products- we are still seeing respectable offtake per se in these markets. You do have slowdown when you discuss the markets of Talegaon, Chakan, and also some other markets, which are located in the South Eastern part of Pune like Undri where we are seeing some quantity of drop in sales. But once again if you are in the right market and also if you have actually the best sized product, it is still offering really.
Pune a booming realty market currently seems to be entering the slow lane. Prices have actually appreciated from an optimal of Rs 8000 each square feet 2 years ago to over Rs 20,000 each square feet. Realty rating company Liases Foras states sales in the April-June quarter has dropped 19 percent year-on-year as well as 15 percent quarter-on-quarter. It also cautions unsold supply for a tiny city like Pune is at a high 54 million square feet. Likewise check out: Kolte-Patil bets huge on redevelopment with Mumbai job Kalele nevertheless stressed that ideal sized as well as valued product still has takers in the marketplace. “”We are not altering any of our prepare for launches as of now,”” he said. The company has actually aligned two jobs for launch in September. One of this, Tuscan Estate Phase II, is priced at regarding Rs 6,500 in Kharadi and also Allura, aligned at NIBM is valued at regarding Rs 5,500-6,000 each square feet.
The outcome is that nearly half the saleable area has actually currently been sold out– a clear instance that require exists however at the best price factor. States Godrej Properties Executive Director KT Jithendran, “”We have actually done a pre-launch and also we have actually got a very solid response, concerning 3 lakh sq feet has currently been marketed.”” “”Over an extended period of time I think Pune has actually ended up being a really steady Best Pune Prelaunch Projects market. The demand in the mid-range real estate has been very solid and secure,”” he adds. Godrej thinks the technique will certainly pay off and also the overall market will certainly maintain in the near future. Jithendran says that the company is established for a few more launches in the coming quarters. Real estate professionals claim the Pune as well as Bengaluru markets have been a lot more resilient to the need downturn. Likewise, bigger developers with a proven track record of prompt delivery are being favored. Thus it’s been a good beginning for Godrej Properties’ Pune project. However, with market watchers forecasting a correction in residential property costs, that optimism could be examined.