realacres

Friends,

Many may have gone through this but here is the link giving the details about all the DP plans of PMC. If you see, Wakad is missing. Make sure you cross verify these plans with what the builder committs.

]http://www.punecorporation.org/pmcwebn/dp23vill.aspx[/URL]

Btw, guys I really felt nice & shy when I read you comments here:-
]http://www.indianrealestateforum.com/pune/t-is-pune-the-most-favoured-destination-for-nris-8357.html[/URL]

Thanks but please don't make me feel shy.

compuwalah

Isn't Wakad part of Pimpri Chinchwad Muni Corp ? Why will PMC bother about putting its plan on its website ?

realacres

True, but when it came up for discussion at the State Cabinet, it was kept out. Only PS was included from this nearby area in PCMC. Wakad DP has been partly sanctioned & excludes DP roads in the plan. However, entire DP has yet to recieve sanction from State Govt.
Some info is also given here:-

]http://www.slideshare.net/rgadgi/09-development-plan-for-pcmc[/url]

compuwalah

Hmmm. So guess in abscence of clarity, Wakad will take a backseat in planning by both municipal corporations.

frugality

After waiting so long .... Now seeing 2750/- at MAGARPATTA CITY in Paper today. feeling better that the knee-jerk is finally appearing to be over and again a new down trend starting.
Looks like another bus coming soon that will be better and faster.

compuwalah

Its good news. However check that is builder having that 30% load factor etc and what are the extra charges. Coz many builders now a day advertise low rates but in practice it turns out to higher due to load factor and extra charges.

UscoKumar

Whether Buy or rent, everything is ridiculously inflated in India. I am currently negotiating 2000 sq. ft. of office space on 9th floor of a landmark downtown building, in a reasonable size town in Tx USA, for yearly rent of $ 14.50 per sq. ft. This includes HVAC, Electricity and 5 days of office cleaning. This would come out less than Rs 36-40 per month per sq. ft. appx. Compare this with Rs 100 or so for property being developed or already developed on NOIDA Expressway. On Expressway, there is mostly vacant land with small cluster of residential or businesses property.
In India, there is excess supply everywhere. Prices are artificially inflated. I expect a crash, so bad, which we have never seen before in Indian realty sector.

Venkytalks

Our current situation was well described 120 years ago and came true in 1906, 1916, 1929 all of which were just repetitions of what happened 200 years ago when the first federal bank was formed in USA.
]http://www.oftwominds.com/blog.html[/URL]
"The Work of Orestes A. Brownson (1893)
The Credit System
The fact is, the mercantile system, introduced by England, or the credit system, that is, the system of making debt pass for capital, is itself failing, in consequence of its own expansion. The principle of the system, as we understand it, is to do business on credit and to rely on the profits of the business done to pay the interest on the borrowed capital and to discharge in time the loan itself. This would, perhaps, be well enough if the capital borrowed were real capital, for the volume of business would then not exceed the ability of the country to sustain and no general depression of business could occur. But it is credit, not capital, that is borrowed. The banks do not lend money, they simply lend their credit, and consequently depend on their debtors for the means to sustain their own credit or to redeem their bills; and these depend on the amount and profits of the business they do on their borrowed credit. If they fail the bank fails, or suspends, as it is politely called. The greater the facility of borrowing credit, the greater the extension of business.

The multiplication of banks of discount facilitates the borrowing of credit, tempts an undue proportion of the young men of the country into business, and those already engaged to extend their business operations, till business is expanded far beyond the wants of the community or the ability of the industry and productions of the soil to support; and a collapse and business depression, as well as widespread financial ruin, inevitably follow. No wisdom, foresight, or prudence, no business tact or capacity, can save a house that has borrowed or given credit from failing, for it will be carried down by the collapse of credit or the demand for payment of the debt hitherto used as capital; and the means to pay it will not be forthcoming when business has been overdone.

Financial Remedies

The various remedies suggested, whether by the president or by prominent merchants, traders, and bankers, are puerile, and not even palliatives. There is no remedy for a gangrenous limb or safety for the patient but in amputation, and not always even in that. The essence of the present system is in using debt as capital. Under it no debts are ever really paid; there is only a transfer of the debt, and all debts are mortgages on the future. A debt discharged in bank-notes becomes a debt against the bank; in greenbacks, it becomes a debt against the government, but in neither case is there any liquidation of the indebtedness.

If the government credit fail – and a revolution or gross mismanagement may cause it to fail – somebody must lose; if the bank fail – and fail it must if it overdoes its business, if its debtors fail, if it lock up its means in unavailable or worthless assets, if there is a considerable shrinkage in their market value, or it its officers are speculators, stock-gamblers, swindlers, or defaulters – its creditors necessarily lose.

The bank depends on its debtors for its ability to pay its own debts, and the government would bankrupt the whole people were it to attempt to liquidate at once its entire indebtedness. It is more than it is now able to do to meet its ordinary expenses and pay the interest on the public debt.

CHS note: doesn't this precisely describe the current financial meltdown? "

I can hardly distinguish this 120 year old writing from something current

ttt43

I have seen rates of as low as 2800 at Magarpatta before(6-9 months ago). So this is probably not that great. But yes, from the excesses of past, this is a welcome relief. I have seen that the Magarpatta resale market fluctuating a lot. Anyone know why? Why are Magarpatta sellers scared more than say Baner/Balewadi etc?

frugality

that's by the broker..... so its a resale flat .... so you can count 30 to 50 rs more negotiations
and by the way looking at today's paper its 3 pages of RE ads