RAJESHP

NOT ME. For simple reason, I dont have that much money. I believe 2BHK has to be atleast 1200Sq feet else you wont have space to move around in your own bedroom after putting bed and wardrobes. So cost of 2BHK with 5k+/sq ft for 1200Sq feet would be almost 70L. I dont see any reason why would I buy a 800-900Sq feet 2BHK because /sq feet rate is more.

I would rather rent it cheap. Considering cost of owning, rent is almost free

realacres

70L will yeild you 7L/annum with ease (10%/annum), which means INR 58333/month. Even after cutting the 30% tax, it would mean INR 40834/month. With this money, why Samrajya, I can rent a good 3BR at Boat Club Road, yet have this money safe which would have otherwise gone in builders' pocket.

Now, how many of you would buy for INR 4000/sq ft?

ash7979

Yeah,I also wish that I could get it at 2000 sq ft rate or I can get a 2BHK in area like Balewadi or wakad in 10 lacs or so (As I feel that that deserve that much only)....but reality bites me & I come out from my dream

Everybody wish I could buy a C-class in 10 lacs or so (As its extremely expensive & those can not afford it)...so, do they get C-class in 10 lacs????

ppls always argue that property prices are went up by 3-4 times in last 5 years, so most of ppls's salary as well...Why we dont say this when we get salary hike for 2-3 times in 2-3 years (this is true for govt babus as well, as after 6th pay commission those ppls also got salary hike like anything....A college professor earn almost a lac per month these days)....

So, these are all factor which contribute RE price rise....I still think that in India buying your own house is a BIG sentimental issue (how may logic you apply behind this or do n numbers of calculations on this forum about Rent Vs Owing a house ,this fact wont change in near future, say in next 15-20 years)....So India wont see US like 50% fall in RE prices...If somebody waiting for that, then I ask him I have identified a good property in Balewadi (some members from this forum already know, about which property I am talking abt), if somebody can get that to me in 50% of its peak price then I will subscriber this 50% correction theory...otherwise if you show magzine articles that we have see so much RE downfall in particular area that doesn't make any sense for me....As it righly said in Hindi "jis Gali jana nahi, so uski baat karne se kya fayda".....

So, stop criticizing anybody , who dont believe in big fall in RE....as those ppls advocating 50% correction here, they them self are not able to get their property of choice at those rates & I wont think they can get in in those rates in near future

__________________
Cheers,
-Ashish

RAJESHP

Moreover, I was just thinking where would I park my Tata Nano? If parking itsef cost 3L, is there
any place in Pune where I can park Nano? or Nano will not be sold at all in Pune?
Parking 1L car in parking space that cost 3L is like insulting the parking space.

realacres

C-CLass was never sold at 10L, but flats were. Did C class command a price of helicopter in 3 years? The real problem is not C being sold at 10L but Maruti Alto being sold at 10L.

Ashish, does people constitute only IT? If you come out of this, you will see hardly 20-30% hikes in manufacturing, banking or in short non-IT sector.

As far as 6th pay commission is concerned, the amount is not going to be paid in cash but at regular intervals with large component of Govt. bonds. For babus, they don't give damn about their salaries as they make much more in a month which IT guys does in an year. Personally, I haven't seen a professor earning 15l/annum salary in Pune. Even if yes, they are in minority & won't take even a single building to fit them in.:p

. But yes, I do agree that house buying is much more emotional in India.

Not owning a house is much better than go bankrupt. Man, there are much better things to do in life than buy a flat.

Perhaps Mr.Tata should now manufacture portable garage too.

ash7979

Those ppls buy 70 lacs house wont Buy Nano

And more of less I was not justifying the RE prices here (I also been affected by these prices)...I was just justifying the reason of RE demand in india & this answers itself justify that...So, I just want to emphasis that demand is not that low what ppls are thinking here for big fall I think that wont happen due to this demand which comes out every time we see drop in prices say 10-20%...

sam2008

hey guys,
this discussion is becoming interesting. as said by real acres if 5000+ rate is not justifieble for pethkar-samrajya then we need to understand as to if someone who wishes to have a home similar to samrajya then where can he find so. today 2BHK of 1300 sft costs 70L in samrajya. if this is high then is there any other better option available at a better cost.
realacres wud suggest sigma1, but again there r may b diff opinions on this. rest of the projects like indradhanu, bhujbal dont even come close to pethkars as reg quality, location. i can say this as i had been to these sites 2/3 times.
it wud be nice if someone can put light as to which projects in kothrud r NOW offering rate of 2500 (as per 50% correction) to 4000 psft ?

sam...

RAJESHP

Why not, wont people like to have 2 cars, one family car and one for driving locally?
For example, I would like to buy one car that mostly be used to drop my son to school,
buy grocery, vegetables and quick drive in the neighbour hood aread where I cant walk.
Where would I park this car?

sam2008

dear rajesh,
u hd raised a valid point here. today there is a genuine problem of additional parking. many sites doesnt provide more than 1 parking. later it becomes difficult to find one. in future builders hv to think on providing more than 2 levels of parkings or may be some advance techniques to fulfill additional accomodation.

sam...

RAJESHP

Sam,
Nothing available NOW, and that only means that Its not the right time NOW.(Its time to rent NOW) This is all that we have been saying.
Price which most people cannot pay cannot sustain for long (for things that are of primary need to every one like housing. BMW/Ferrari can keep selling at any price the company wants, thats luxary, not need)

Joy of living in your own house is not measurable with money, but frankly, if I buy something for 70L and tomorrow my new Neighbour buys the house for 40L, man I will be get sleepless nights in my very own house.
Buying property today in Pune, there is a very high chance of that happening tomorrow, So I would wait and not buy right now.

As I told already, rent is very good Indicator of demand vs supply. If there is shortage of house in Pune, rent will shoot up. Rent has to be atleast comparable to EMI if not more. In developed countries, rent is always
more(or aleast comparable, there cant be huge gap.) than cost of owning, which makes perfect sense to me.

This huge gap in rent vs cost of owning is clear indication of Bubble in RE. All bubbles burst, irrespective of what mr PM says about recession or where stock market heads.(I know no one buys this statement from me, but it makes sense to me!!)