mumbai unsold inventory of ready and underconstruction houses in in pune property market is valued around rs 105000 crore as on september end said ratings agency icrapune real estate market has been passing through a difficult phase since quite some time now real estate rates appreciation which had been healthy till 201213 has largely turned stagnant thereafter out of total units under construction around 77 are priced under rs 75 lakhaccording to icra significant regulatory developments changing financing environment and weak demand has been affecting the real estate prices dwindling demand from investors due to limited returns over the past few years and uncertainties in the economic environment has impacted the market as the citys economy is also critically dependent on itites and automobile favourable demographic profile of young workforce and matching supply with reasonable pricing had ensured conducive environment for the pune residential real estatesignificant pressure on key user industries and waning investor demand have impacted the residential real estate market in pune and sales velocity is likely to remain slow in the near term the market is undergoing structural change and unorganized local developers are struggling to adjust with the changing operating environment said anand kulkarni assistant vice president and associate head corporate ratings icrathe ratings agency has analysed 2800 ongoing projects in pune metropolitan region having total of 28 lakh units and over 178 million sq ft carpet areacomparatively the commercial real estate in pune has a stable outlook the demand in the city for commercial office space has historically outpaced the supply resultantly the vacancy levels have come down graduallythe demand for commercial realty is expected to continue in the near to medium term considering cost arbitrage offered by the city as well as adequate availability of skilled manpower and social infrastructure as additional supply is also expected to enter the market the vacancy levels are expected to be stable at around 46 over the next few years