2012 property prices to remain firm with upward bias, says report

Pune: A report on the real estate sector in the city — Pune Real Estate Report — was released by ASK Property Investment Advisers here on Friday. According to the report, property prices are expected to continue with the upward trend with a demand of 50,000 units in 2012.

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

“The outlook of the Pune real estate market is based on the rapid growth of the city driven by strong economic activity and migration. Pune, which has been the hub of service and manufacturing jobs, is expected to see sustained job creation of 90,000 - 1 lakh jobs, leading to increased requirement of houses. The proximity of the city to major towns like Sangli, Satara and Kolhapur also makes it the preferred place for investments,” said Sunil Rohokale, CEO and MD, ASK Investment Holdings.

Rohokale said currently about 19 per cent of housing units in the city are unsold stock but the demand will go up in the near future.

Availability of properties in the range of Rs 45-60 lakh makes it affordable for end-users.

“The requirement of houses based on demographic and commercial space indicates that requirement for houses are expected to be sustained at 50,000 units compared to 40,000-45,000 units in previous years. Prices are expected to remain firm with upward bias due to sustained demand” said Amit Bhagat, CEO and MD, ASK Property Investment Advisors Ltd.

NCP corporator gets bail in murder case

Pune: Additional Sessions Judge N P Dhote granted bail to Nationalist Congress Party (NCP) corporator Prashant Krishnarao Shitole, who was arrested in connection with the murder of Tushar Rajendra Dhore (24) at Ganpati Chowk in Old Sangvi during Navratra festival. Tushar, who was reportedly associated to Shitole’s political rival Harshal Dhore, was murdered on October 3. The two rival groups clashed following a petty quarrel during Navratra celebration. Tushar received vital injuries during the brawl and succumbed to death. Shitole, who was arrested on October 14, was granted bail on condition that he should not try to influence any witnesses in this case.

38 pilgrims injured as tempo overturns

Pune: As many as 38 pilgrims were injured when the tempo they were travelling in over-turned on Friday morning. Five sustained fractures and others got minor injuries, said police inspector Manohar Jadhav of Lonavala police station. “There were about 40 pilgrims from Bhivandi in the tempo. They were going to Ekvira Devi hill when the tempo overturned at the first turn of the ghat section of the temple. The injured were rushed to the local hospital,” said Jadhav.

MNS declares dates for civic poll interview

Pune: The second round interview of the aspirants for the Pune Municipal Corporation (PMC) elections would be conducted by Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on January 10, 11 and 12. Thackeray will interview aspirants who had successfully cleared the written exam and the first round of interviews conducted by MNS leaders Rajan Shirodkar, Rita Gupta and Anil Shidore. Meanwhile, about 60 more aspirants from Pune and Pimpri-Chinchwad have applied for another written exam to be conducted on January 8. A press release issued by MNS leader Ranjeet Shirole on Friday said the dates and venue for aspirants selected for the interview will be informed by the party office.

Source: http://www.expressindia.com/latest-news/2012-property-prices-to-remain-firm-with-upward-bias-says-report/896758/