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Has Pune Properties started showing price down trend?

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Has Pune Properties started showing price down trend?

Last updated: January 4 2013
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  • #11

    #11

    Re : Has Pune Properties started showing price down trend?

    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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    • #12

      #12

      Re : Has Pune Properties started showing price down trend?

      Act in haste, repent at leisure

      Originally posted by diwki01 View Post
      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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      • #13

        #13

        Re : Has Pune Properties started showing price down trend?

        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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        • #14

          #14

          Re : Has Pune Properties started showing price down trend?

          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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          • #15

            #15

            Re : Has Pune Properties started showing price down trend?

            @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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            • #16

              #16

              Re : Has Pune Properties started showing price down trend?

              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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              • #17

                #17

                Re : Has Pune Properties started showing price down trend?

                Prices in outskirts of Pune

                Let me share here with all, my experience of Nov. 11, ‘08. I visited a mid-sized builder, for enquiring for the first time a commercial property. After finishing our discussions about the commercial office space, I asked him about the residential property they were offering.

                I was talking to one of the partners of the company, who was responsible for sales. He showed me their brochure containing 4 – 5 apartments in Baner – Balewadi area. I could see that all their properties (possession by mid ‘09) were only few hundred meters away from Katraj - Dehu Road bypass. After asking him about the rate, he said that before the slowdown started, they were offering those flats (2, 2.5 & 3 BHK) for Rs. 3,300 per sq. feet. However because Diwali was very cold for them from the point of view of customer enquiries, they were offering the same property now at 2,850. On my way out of his office, I overheard him offering these properties to someone on phone at 2,600!

                So the learning I got from above interaction was that if someone approaches a builder with ready cash today, one can squeeze a further discount of at least 10 – 15 %. They are clearly desperate for sales.

                However I would not recommend someone to buy today, even with above discounts. Keep watching the market closely, before putting your hard earned Lakhs of Rupees. Remember, it may be your ones in a lifetime investment.

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                • #18

                  #18

                  Re : Has Pune Properties started showing price down trend?

                  Real Estate Prices will started to rise by Jan again from what is now!

                  As RBI cuts its PLR rate .75% and banks are following the same in this week and Finance ministry is given signal that there will be further .75 - 1% cut in CRR if situation not improve in realty and automobile sector which were hard hit by the recession as of now. And moreover Pune Municipal Corporation has increasing its FSI from 1 to 2.5% there will be huge demand creation process that government and developer associations are doing will give fruit as people have to invest before march to settle the taxes primarily businessmen and industrialist, as there is no sign of improvement in job sector as of yet middle class people certainly looking for rented accommodation instead of purchasing new houses as of now, but this trend can also change by january as local job market shows trends of improvement specifically in retail and healthcare sector.

                  But, when compared to other states and cities Pune's downtrend in real estate is very neglegible as demand still there after US recession and other indian cities recorded record fallout in the realty area.

                  After Mumbai terror attack, most of the new customers are preferring pune instead of mumbai, that shows major shift in indian real estate segment, and mumbai is hardly hit in terms of real estate after new delhi.

                  Meanwhile Pune is also attracting international IT firms attention as more and more international IT companies occupying their spaces in Pune, so the future job market in Pune will be more stronger than Mumbai, these all factors lead Pune as No. 1 place for invest. But whomsoever want to invest has to act fast and the time is now.

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                  • #19

                    #19

                    Re : Has Pune Properties started showing price down trend?

                    The beginning of the end of the so-called BOOM!

                    World financial sector collapse: NRIs cannot buy properties as fast as earlier.

                    Mumbai blasts, Satyam collapse: more layoffs and uncertainity, local IT guys hold back...

                    Get ready for the 'Foreclosure Crisis' in India....

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                    • #20

                      #20

                      Re : Has Pune Properties started showing price down trend?

                      Pimpri Saudagar Rate???

                      What is the latest rate in pimpri saudagar??

                      Some agent said its 2800 per sq feet but discount milega.... Is he lying?
                      What was rate 6 months back???

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