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Jagruk Punekar · 17-11-08

Let me share here with all, my experience of Nov. 11, ‘08. I visited a mid-sized builder, for enquiring for the first time a commercial property. After finishing our discussions about the commercial office space, I asked him about the residential property they were offering.

I was talking to one of the partners of the company, who was responsible for sales. He showed me their brochure containing 4 – 5 apartments in Baner – Balewadi area. I could see that all their properties (possession by mid ‘09) were only few hundred meters away from Katraj - Dehu Road bypass. After asking him about the rate, he said that before the slowdown started, they were offering those flats (2, 2.5 & 3 BHK) for Rs. 3,300 per sq. feet. However because Diwali was very cold for them from the point of view of customer enquiries, they were offering the same property now at 2,850. On my way out of his office, I overheard him offering these properties to someone on phone at 2,600!

So the learning I got from above interaction was that if someone approaches a builder with ready cash today, one can squeeze a further discount of at least 10 – 15 %. They are clearly desperate for sales.

However I would not recommend someone to buy today, even with above discounts. Keep watching the market closely, before putting your hard earned Lakhs of Rupees. Remember, it may be your ones in a lifetime investment.

17-11-08	#2
Jagruk Punekar New Member Join Date: Nov 2008 Posts: 2 Thanks: 0 Thanked 0 Times in 0 Posts	Prices in outskirts of Pune Let me share here with all, my experience of Nov. 11, ‘08. I visited a mid-sized builder, for enquiring for the first time a commercial property. After finishing our discussions about the commercial office space, I asked him about the residential property they were offering. I was talking to one of the partners of the company, who was responsible for sales. He showed me their brochure containing 4 – 5 apartments in Baner – Balewadi area. I could see that all their properties (possession by mid ‘09) were only few hundred meters away from Katraj - Dehu Road bypass. After asking him about the rate, he said that before the slowdown started, they were offering those flats (2, 2.5 & 3 BHK) for Rs. 3,300 per sq. feet. However because Diwali was very cold for them from the point of view of customer enquiries, they were offering the same property now at 2,850. On my way out of his office, I overheard him offering these properties to someone on phone at 2,600! So the learning I got from above interaction was that if someone approaches a builder with ready cash today, one can squeeze a further discount of at least 10 – 15 %. They are clearly desperate for sales. However I would not recommend someone to buy today, even with above discounts. Keep watching the market closely, before putting your hard earned Lakhs of Rupees. Remember, it may be your ones in a lifetime investment.