I visited the Rose Icon (GK Developers) in pimple saudagar. The flats look nice but they are quoting 4200 Rs. please suggest me if is it worth to purchase property in this rate.
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  • Originally Posted by akssenti

    So this whole idea of how many people are like this in Pune is answered by the spiraling prices. Apparently a lot of them.


    its true..prices will remain stable but won't crash as there are lot of people who are buying (apart from just IT folks)..

    and here we predict prices will crash..btw how many people are even registered for IREF...probably less than 1% of the total property buyers...so i don't see much value to the prediction which says prices will crash or going down by more than 30%...as far as i know from last 20 years this kind of speculation is going on...

    with even worst kind recession could not stop the prices below 30%..in recession the prices were dropped to 20 - 30% at max..so should not be carried away with these arguments
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  • I agree that the percentage of the possible buyers which are registered with the IRIF are very less. But it's the real fact of the customers when prices of any material things increases, potential buyers decreases. I have visited many sites in past few days and found that many builders offer ready possession flats (Including Rose ICON). To make profit on them builders need to sold them ASAP. Global market condition in not in good condition(European countries like Greece,Portugal, Ireland etc are in liquidity crunch) also many Big companies started doing cost cutting(e.g CISCO- latest e.g.) Looking in to all the situation buyers may move away from investment in real estate. also increasing interest rate will adds oil in them..
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  • Hi

    HI, even i completly agree that rate will not go down... if it not rise further for some time.... 4200 is bit higher side but in PS we don't have other option to see. following GK other builder also puting there rate as 4100 which is too much as per there brand and quality.
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  • Hello akssenti /Kings***

    I agree with your opinions. People are talking about RE crash since from last 2.5 years, I have been following this forum from last 2.5 years and I saw substential rise in property prices in Wakad/PS/Baner etc. There is popular thread on this forum about RE crash which got many hits, but by experience I feel people only had discussion.... nothing else..property prices did not fall down. But the problem with such kind of discussion is, new people gets confused and it affects them, experts know whats the situation in market. I am talking based on facts which I observed, here I am not at all advocating price rise.

    Now coming to Rose Icon in PS as perticular, the reasons quoted by one of our member in this thread are correct. NRI/Wealthy investors/IT people are most among investing in PS area. I asked once to sales lady of Rose icon rising rates, she said whatever is situation outside I am getting customers even at such high rates so why to go down ?

    This is a fact and one has to go with it.

    I still feel, whatever is situation, one should go ahead to purchase a property if he wish to stay there because owning a house is a need of that individual. Investors should consider RE market since their intension is to make money out of it.

    Regards
    AD:bab (22):
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  • Originally Posted by aedhole
    Hello akssenti /Kings***

    I agree with your opinions. People are talking about RE crash since from last 2.5 years, I have been following this forum from last 2.5 years and I saw substential rise in property prices in Wakad/PS/Baner etc. There is popular thread on this forum about RE crash which got many hits, but by experience I feel people only had discussion.... nothing else..property prices did not fall down. But the problem with such kind of discussion is, new people gets confused and it affects them, experts know whats the situation in market. I am talking based on facts which I observed, here I am not at all advocating price rise.

    Now coming to Rose Icon in PS as perticular, the reasons quoted by one of our member in this thread are correct. NRI/Wealthy investors/IT people are most among investing in PS area. I asked once to sales lady of Rose icon rising rates, she said whatever is situation outside I am getting customers even at such high rates so why to go down ?

    This is a fact and one has to go with it.

    I still feel, whatever is situation, one should go ahead to purchase a property if he wish to stay there because owning a house is a need of that individual. Investors should consider RE market since their intension is to make money out of it.

    Regards
    AD:bab (22):


    as far as maing a real estate deal is an individual choice..it depends upon many factors..however, we should do our own analysis (like financing, if it suits your budget or not) while approaching it and then take a decision and not just someone else thinking..

    i still know 8-9 yrs back, one guy was getting an apartment in karishma kothrud for 1700 psf..he initially booked it..and after someone else's advice (which said that why are you booking at such high prices..there's no logic in that..prices are definitely going to come down..and thins like that) and he cancelled that booking..

    now who's got the loss..the one who has given the advice or the one who listen to that advice and implemented it..

    alwyas listen to the people but do your own thing (of course by anayzing)..
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  • Originally Posted by kingsmead
    as far as maing a real estate deal is an individual choice..it depends upon many factors..however, we should do our own analysis (like financing, if it suits your budget or not) while approaching it and then take a decision and not just someone else thinking..

    i still know 8-9 yrs back, one guy was getting an apartment in karishma kothrud for 1700 psf..he initially booked it..and after someone else's advice (which said that why are you booking at such high prices..there's no logic in that..prices are definitely going to come down..and thins like that) and he cancelled that booking..

    now who's got the loss..the one who has given the advice or the one who listen to that advice and implemented it..

    alwyas listen to the people but do your own thing (of course by anayzing)..



    I AGREE....ABSOULOUTLY....FORUMS ARE JUST FOR GUIDANCE BUT FINAL CALL IS URS....ITS A NORMAL TENDENCY OF A PERSON WHO HAS PURCHASED A PROPERTY IN A AREA WILL PRAISE IT AND WILL POINT OUT ISSUES IN OTHER PROPERTIES....SO APNI AKKAL LAGAO....LOGON KI BAATON MAIN MAT AAO...AUR UTNA HI PAIR PHALEYAAO JITNI CHADAR HO...NAHIN TO PANGA HO JAYEGA.... :)
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  • See the rates in baner guys....recently launched project...

    see the prices of baner....

    and people here have been saying for a long long period with great hope..... Wakad / PS are costly.... Huhhhhhhhhhhhhh

    Where is the RE Correction ???

    Hell amount of threads are running on this forum about RE correction...and people are following that with great hope....but see the fact



    Friday, July 22, 2011

    Reelicon Alpine Ridge, Pancard Club, Baner, Pune 411 045; Launched!

    Approximate All Inclusive Launch Property Prices at Reelicon Alpine Ridge,
    Pancard Club, Baner, Pune 411 045:



    1) 2 BHK Flat - 682 sq.ft. Carpet Area + 124 sq.ft. Terrace:

    1st to 4th Floors - Rs. 51.82 Lakhs + VAT + Service Tax + Maintenance

    5th & 6th Floors - Rs. 52.39 Lakhs + VAT + Service Tax + Maintenance

    7th, 8th, 9th Floors - Rs. 52.96 Lakhs + VAT + Service Tax + Maintenance
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  • Originally Posted by aedhole
    See the rates in baner guys....recently launched project...

    see the prices of baner....

    and people here have been saying for a long long period with great hope..... Wakad / PS are costly.... Huhhhhhhhhhhhhh

    Where is the RE Correction ???

    Hell amount of threads are running on this forum about RE correction...and people are following that with great hope....but see the fact



    Friday, July 22, 2011

    Reelicon Alpine Ridge, Pancard Club, Baner, Pune 411 045; Launched!

    Approximate All Inclusive Launch Property Prices at Reelicon Alpine Ridge,
    Pancard Club, Baner, Pune 411 045:



    1) 2 BHK Flat - 682 sq.ft. Carpet Area + 124 sq.ft. Terrace:

    1st to 4th Floors - Rs. 51.82 Lakhs + VAT + Service Tax + Maintenance

    5th & 6th Floors - Rs. 52.39 Lakhs + VAT + Service Tax + Maintenance

    7th, 8th, 9th Floors - Rs. 52.96 Lakhs + VAT + Service Tax + Maintenance


    Yaar these prices are high, but if you compare with PS prices then hardely there is difference of 5-6L (because in PS you get 900 salable area at 4200 Rs, here atleast you are getting 682 carpet area). 5-6K per month EMI for better area is worth paying. However as I said earlier, these prices are high, and after must awaited RE correction you may get the flat in this area at the price of today's PS price (4200). These are my personal opinions, use your mind before finalizing the deal.
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  • Bolt***
    Even in last recession, prices got reduced by hardly 200-300 psf that too at the end of its period...but here you are expecting RE correction of same kind without Recession....?

    hats off to your hope..!!
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  • Originally Posted by aedhole
    Bolt***
    Even in last recession, prices got reduced by hardly 200-300 psf that too at the end of its period...but here you are expecting RE correction of same kind without Recession....?

    hats off to your hope..!!


    My dear friend, you have wrong impression on RE correction in last recession. Prices in PS & wakad before recession were more than 3500 (even close to 4000 in few builders in wakad), and during recession prices came down to 2700 Rs in PS and 2500 in wakad (even 2300 in wakad in few projects where group booking was done) for the people who had negotiated hard. So to be very practical (& if you think at cool mind you will agree too), prices came down from 3500 to 2700 during recession, that comes to difference of 800 (% wise more than 20% dip from peak). And there is another side story too, prices of luxury/high end/costly procets were down by more than 30% during recession. I would consider rates near 5000 (like in Baner today) in costly categary, where one could see atleast 15-20% correction in coming few months, which make the same property will be available at 4000 (if 20% correction which is little on higher side) but definitely in the range of 4200 (like we saw in Bangalore- 17.5% correction in last few months).
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  • Originally Posted by aedhole
    Bolt***
    Even in last recession, prices got reduced by hardly 200-300 psf that too at the end of its period...but here you are expecting RE correction of same kind without Recession....?

    hats off to your hope..!!


    Fact I know for sure: Pre-2009 recession highest price by GK builders.. 3300

    Booked price by many people in peak recession: 2450

    Today price: 4200

    Do the math, prices fall. But recession means very few customers have confidence to book flats. Saw that in 2009. Class quote asman se tapka khajor pe atka.
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  • Hi

    Dear Friends,

    Any of you have booked flat in Rose Icon?? i 'm looking for any group form where i can contact the flat buyers of rose icon project.

    anybody know group than please let me know.


    Thanks in advance
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  • Hay guys,
    Look at the below post. 4200 rate not changed from Jan 11. and lot's of things happened after that(Increase in interest rate). and many ready possetion flats are still unsold. Interest rates are also going to increase in coming feature as reserve bank again increased repo rate by .5%.

    So staying away at this time is the best option.


    see the below links.

    Loans to become costlier as RBI hikes repo rate - The Times of India

    https://www.indianrealestateforum.com/forum/city-forums/pune-real-estate/13502-rose-icon-pimple-saudagar-redirect?t=15804
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  • We can make the correction happen. Stay away from the real estate for some time and see the rate will definitely come down.
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  • any idea what is the current rate for rose icon?
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