hitmady

"Given the upswing in market revival we feel the rates may go up during the festival season beginning with Ganesh Chaturti. This exhibition will offer Punekars an opportunity to seize the benefits of builders' proactive measures," says Anuj Bhandari, Chairman Exhibition Committee CREDAI Pune on 7-Aug-2009.

I find above statement highly laughable.
Punekars are remaining indoors on weekends due to swine-flu. And business in Pune is already down due to it & recession.

Right now there is NO incentive for prospective RE buyers becoz of following:
1. RE & interest rates has NOT fallen to the level to make it attractive for genuine buyers/investors.
2. NO signs of Indian slowdown & worldwide-recession getting over in coming years.
3. Draft tax-code does NOT create any +ve sentiments (NO tax-deductions for self-occupied RE).

EITHER these builders are living in fool's paradise OR laws of economics cease to exist for them

realacres

It is more like:- Dead man walking. Btw, they are not living in paradise but hell.

s_rathore

well well I am seeing a lot of youngster getting impatient and jumping to catch the bus.

A typical case of buying in a falling market on slight uptrend or false bottom. only thing different here is time span is of months compared to days or minutes in the market.

And they are less aware, probably not came across this wonderful blog, Parents pressure. So out of 100 if 5 are going ahead these CRE.. guys will make it sound like 200.

Is demand really there for more homes in Pune??
And tell me ... are we considering the rate of "families moving in Pune" since slowdown in an increasing trend ???
If hiring is not increasing so is the rate of "families moving in Pune".
I know that is very difficult to assess.
As that actually constitutes increase in demand.
Otherwise any buyer living in Pune wont be part of demand creation , he is just changing his title from Rented to Owner.

Rashmi_mavlankar

I completely disagree with some of the members who are saying that rates are going to be further down...I have been searching a flat in Kharadi area for last 6 months & i observed that indeed rates are going up for last 2 month: following are the examples
1) AMANORA - amanora was giving their 'Trendy' 2 bhk flats in pre launch offer in 28.75 Lac (3 Months Back) now presently they are not ready to negotiate same flat less that 32 lac.
2) Urban Nirvana - My friend purchased a flat in 2300 psf now they are not ready to give the same flat less than 2450 pfs

On one side peoples are saying rates are going down but truth is completely reverse....can anybody give me some example where rates are coming down as compared to last 3-4 month

Sansei

The mind does say that the rates r going to go up for new projects due to latent subdued demand in last one yr. However the stuck up projects 3 bhk and above wont move any much.

The auto sector is also expecting good sales this yr due to excess liquidity driven investment / cheap loans / heavy discounts / depreciation cycle. The low monsoon will hit first qtr, next yr.

The Banks / Govt has not yet indicated any rates tightening. banks have not reported any pick up in credit growth. So easy loans are to stay till oct or yr end.

Its fool hardy on part of bldr to show unbashed greediness with out any heed for eco sense. And some people r going to buy their arguments.

Sansei

On ground whispers say the bldrs r going to offer HUGE discounts for stuck projects.

The grape vine is that INT rates will surely pick up with rise in credit growth stoking inflation any time after Diwali.


So folks be ready!

tsongt

if India growth gets affected by the 2009 drought, the effects are going to show only in Dec-Jan timeframe.

lets see what other news emerges out of China in the coming days.

Whatever bullish trend we currently see in RE is only because of speculation. No new jobs, no salary rises, insecurity in jobs continue. There is absolutely no chance for a real bull market for RE.

The builders tactics continue to fool buyers in Pune, but i guess this should be the last leg. A deep correction is defenitely on the cards.

ash7979

Why you think only IT guys are FOOL??? I think IT ppls are more connected, coz communication is the there part of job (I mean easy access to internet)...So Dont think that IT guys get fool by these news....I can bet here in this forum more than 50% are IT guys & they are better informed & those are only ppls are waiting for market to fall...& other ppls are booking flat these days....

__________________
Cheers,
-Ashish

McLordGanj

CDERAI should ensure that:

1. Super area, buildup area, and carpet area should be declared FIRMLY
2. If there is scope of super area increase, it should be firmly mentioned that super area increase will have a corresponding increase in carpet area also.

3. Parking charges are ILLEGAL and builders should not charge for it

4. Service tax on parking charges is even more ILLEGAL

5. All licence details SHOULD BE CLEARLY MENTIONED IN ADVERTISEMENTS

6 VERY HIGH PENALTY to be imposed on builders for concealing any legal information about title of land, licence etc.

7. BUILDERS SHOULD DECLARE FROM WHOM THEY BOUGHT LAND, WHEN , AND FOR HOW MUCH , AND WHAT % HAS BEEN PAID

8. PENALTY FOR DELAY SHOULD BE REASONABLE AND SHOULD BE ACCORDING TO THE RENTAL OF FLAT. IF DELAY EXCEEDS 6 MONTHS THAN PENALTY SHOULD BE DOUBLED, AND WHEN DELAY EXCEEDS ONE YEAR PENALTY SHOULD BE THREE TIMES

9. EDC,IDC CALCULATIONS SHOULD BE SHARED WITH BUYERS AND AMOUNT PAID TO REGULATORY AUTHORITIES SHOULD BE KNOWN TO BUYERS.

10. AFTER TAKING 90% PAYMENT POSSESSION HAS TO BE OFFERED WITHIN 4 MONTHS - currently the norms are 4 years after taking 90% payment.

THAT IS THE JOB OF CREDAI - LET THEM DO THIS FIRST

compuwalah

From this post of 2009, I fully agree that CREDAI claims are laughable.
They had completely hidden the fact that rates are going to go same way for at least next three years or so frmo 2009. Their statment is as misleading as statement made on this forum that rates will drop by Diwali (never mentioning Diwali of which year so its vague but anyway has provided some face saving).
Would request CREDAI to make statements with less ambiguity. Also request them to predict the rates for next one year at least. We have found that CREDAI's prediction are more credible than "others"

Regarding the three points you mentioned , I am not quiet sure about them. Did you ever try to find out in what exactly was the incentive for the buyers from Aug-2009 till now ? Please enlighten the members if you happen to know.