Any body experienced down trend in Pune Real esate prices?

There are news like, recent rise in inflation will have effect on real estate prices.

Thanks
Makarand
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  • Viman nagar

    Anybody has a vew on prices in viman nagar area
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  • The prices are stagnant..not going down yet..due to inflation there will be pressure on builder however you nenver knwo
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  • What About Gera Projects in Kharadi?

    Does anyone have any idea about Gera Emerald City in Kharadi?
    I inquired and was quoted 3100/sqft and the builder said that he cant go below this and is not ready to negotiate - take it or leave it. Can anyone please tell me if this is ok rate or should i wait for some time? Builder said that there are only few flats on few floors left :(
    Has anyone managed to negotiate for anything lower than this for this property?

    Also, anyone has any idea about Gera Sky Villas? Rate is 3300/sqft - does it look ok?
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  • What About Gera Projects in Kharadi?

    Does anyone have any idea about Gera Emerald City in Kharadi?
    I inquired and was quoted 3100/sqft and the builder said that he cant go below this and is not ready to negotiate - take it or leave it. Can anyone please tell me if this is ok rate or should i wait for some time? Builder said that there are only few flats on few floors left :(
    Has anyone managed to negotiate for anything lower than this for this property?

    Also, anyone has any idea about Gera Sky Villas? Rate is 3300/sqft - does it look ok?
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  • Thanks a lot Pune Rental - really appreciate the feedback
    Cheers!
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  • I am being quoted a rate of Rs. 3500 for paranjpe projects - Gloria in Paud road and Saptagiri near Baner Pancard club. Is it reasonable?
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  • Originally Posted by Makarand_keer
    Any body experienced down trend in Pune Real esate prices?

    There are news like, recent rise in inflation will have effect on real estate prices.

    Thanks
    Makarand

    No... property prices in Pune havent gone down dramatically..... maybe around Rs 50 per sq.feet here and there... but thats about.... In Kharadi for example... prices have remained stable for the past 4 months... some projects have actually increased their prices a bit.... be rest assured that there is no panic amongst realtors to reduce their prices.... like you are playing the wait and watch game... they are as well !!!! too bad... with the new radisson hotel all set to come up in kharadi... the prices are sure to pick up by the year end...
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  • Pune Prices are falling..

    I live in Pune... I have been seeing prices in Pune falling since last one year.

    In India Price fall is very sensitive thing for builders and investors to discus.
    When it was said that prices are stagnant , many builders were accepting booking secretly at lower prices if you negotiated.

    6 months back when i did survey for commercial property i found that some some projects were available at lower prices.

    3 months back a builder accepted that the Residential prices have fallen 20% but commercial prices are stable.

    Recently i also saw some new projects being launched at lower then market prices that were not heard in Pune for last 2 years in mainly city limits.

    Though many prominent builders/projects are quoting higher prices, i am sure similar properties can be bought atleast 20% cheaper. and due to further increase in interest rates expected... i think many small builders will have almost nil bookings and will need to run around to sell almost at cost to exit projects.
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  • can you please point at some small time developers.. or any projects your are aware of?
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  • wakad area rates

    Hi,
    Does anyone know abt rates in wakad area? I have gone thru lot of sites but prices are not comng down..they quote around 3000 per sqft..is this OK?
    iam planning to buy a 2 BHK in windwards..any opinion?
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  • Act in haste, repent at leisure

    Originally Posted by diwki01
    Thanks a lot Pune Rental - really appreciate the feedback
    Cheers!


    In the old days, buyers used to ask builders, "explain, why so much?". Now-a-days that seems too complex to expect of buyers. They have become lazy because banks are ever-willing to give huge amounts of loans to buyers. They believe whatever builders/sellers quote - and that is the main reason for this unbelievable upswing in prices.

    With interest up from 8% last year to 12%+ this year, for you to pay the same amount of money to buy, prices should fall 25% for you to have the same burden. Example, if you bought a flat with a 40 lakhs loan at 8% for 15 years, when rate increased to 12%, price should come down to 30 lakhs to neutralise the effect on your final payments. But with other factors like global recession, etc, price will overshoot downwards substantially more.

    Wait, diwki01, wait. If price of this flat is not lower by 20% or more by this time next year, I will do vanvaas. By 2010/2011, expect 50% + drop. Why waste money now because Pune Rental says so? If price declines, will he make up the difference? :)

    Rent now. Buy much later for a REAL bargain.

    cheers
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  • Once again, thanks for the advise, suggestion, I genuinely appreciate it.
    But actually I went ahead with the deal last week.
    But I think it is ok, coz I have seen the builder not ready to budge below 3300/sq.ft now and I am seeing people booking with that price (I actually saw the papers of a neighbour). Given the location the fact remains that somehow someone is buying flats inspite of these high prices. I checked out and most people are "genuine" buyers who will be occupying immediately once they get possesion (like me) and there is no short of these people who want a "good" house to stay with their families.
    Again, I am not sure if I did the right or wrong decision as I am not the expert, but I think I am happy seeing the area and the actual construction of Phase 1 and assuming that Phase 2 will be of atleast the same quality (if not better as told by builder).
    My view is this, even if the prices drop 20% (which even being naive I somehow feel it might not happen given the upcoming EON IT Park and other big things coming up nearby), I will assume I was at a loss of say 2.5L - but I think given the way property appreciates, I think i will be ok after 8-10 years. Again, I might be just making myself feel good since i have gone ahead with the deal anyway, but I am really happy that I was able to buy a 1600sq.ft flat for my family in a posh gated community (which at some point of time in the near past did not feel as realistic)
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  • Pune Property Analysis Report

    Hello,

    I am planning to work on a project that will do indepth technical analysis (like people do for stocks) for the upcoming Property projects in Pune with comparison that will immediately bring out the winning investment opportunities in Pune..

    Considering the un-organized market.. such analysis can give boost to people looking for investment in Pune.. with 1-3 years return prospective.. I believe that such a report will help people save few lakh of rupees and be more confident of their property investment decisions and aviod mistkes.

    I will need at least Rs.2.5 lakh to generate such a report.. i want to check if there are people in this forum who may like to contibute atleast Rs.50k in return for the Free copy of report and 1 month of remote guidance in finalizing their investment.
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  • @pksden

    I appreciate you initiative ... but guess you are knocking wrong doors.
    what makes you think people will pay 50k to a stranger and wait for a property report. Most of the news papers or property magazines give you a good idea of what is going on in the real-estate sector (though it is influenced by the developers).

    I don't intend to discourage you ... in fact I would love to grab a copy of your report once done

    All the Best!!!
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  • Hi i'm looking forward to buy a house in Pune sometime in October. Wanted to know if there are any signs of prices coming down in the near
    future? Had visited a few sites in pimplesaudagar, and it was hard to
    beleive the rates the builders were charging out there.
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