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Program on RE prices yesterday on CNBC Awaz

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Program on RE prices yesterday on CNBC Awaz

Last updated: July 27 2010
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  • Program on RE prices yesterday on CNBC Awaz

    Yesterday night, there was a program on Real Estate prices in Mumbai on CNBC Awaz. They mentioned that the rates in Mumbai have increased by about 15 to 50% and that has caused bookings going down substantially. It has resulted in Oversupply and the number of registrations have come down to the lowest levels in May-June 2010 but the builders are not lowering the rates.
    Is this the case in Pune too ?

  • #2

    #2

    Re : Program on RE prices yesterday on CNBC Awaz

    i think the delta in pune is less compared to mumbai..so mumbai can double from say 5k to 10k in a year..but pune is generally like 3k-3.5k...for example

    the cheapest property i guess shud be in NCR considering there is serious oversupply there from prominent builders

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    • #3

      #3

      Re : Program on RE prices yesterday on CNBC Awaz

      The speculation of property has been more in Mumbai hence the sudden rise in prices. However Pune has speculators but the percentage is less compared to end users. Also most speculators in pune are more interested in lands than buying apartments/ off plan properties. That’s why we are not seeing any sudden drop in property registration.

      However pune has always felt the repercussions of Mumbai. If Mumbai continues to see a drop in number of buyers for over 6 months the developers have to reduce the prices and than pune will automatically follow but looking at the number of end users the drop will not as Dramatic as Mumbai (If Any). Also the property markets Dubai, London and USA is still in the pit so the NRIs and real estate FDIs will flow money in India and China for better ROI.

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