Would be interested to know the prevailing property prices in areas like Pimple Saudagar and Pimple gurav. Is there a downturn in the prices or it is still upwards?
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  • Originally Posted by akssenti
    Hi Neha

    I dont really know if it will drop to 2200. You can wait for some time and then ask them again but i have genrally seen that they do not go below a specific rate. Try negotiating at 2300 or even 2350 if need be.

    I did a lot of rounds around Pimple Saudagar and Pimple Gurav and Kharadi Wagholi etc.

    2200 would be an awesome price but you would have to be the best bargainer to get it. :)

    When are they giving possesion?

    Regards
    Akshay


    Thanks Akshay

    I agree..2200 will be an awesome price:), but 2 visits to GK's office and talks with a salesgirl really put me off! She was quite stand-offish, which led me to feel as if GK is not interested in negotiations.

    I also visited 52 Greenwoods...gr8 scenic location, on the sus-pashan rd, beyond the b'lore highway.

    Any dope on the sukhwani pjt of elmswoods in PS? He is promising dec 09 possession..is it possible??
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  • No idea about Sukhwani buddy. A friend has also booked a Sukhwani project near Magarpatta. He is also expecting possesion near the same time. Lets hope other members can give you more feedback on Sukhwani.
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  • What price did they quote for 52 green woods neha?
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  • mm...if i rem correctly, it was 29 or 30
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  • yes .. 52 green woods is quoting 29.5 lakhs inclusive all for 2 bhk.
    locality is a bit remote but still plesant.
    but only few options left there :(
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  • rates at elysian baner

    elysian is a good project but rate quoted is too high at 3750/sq. feet does anyone have idea about what level the property will come down
    i am interested
    thanks
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  • Think before you buy

    Guys,
    I had posted a reply in a thread 'Aishwrayam Greens, Wakad'. However, i thought lots of points which apply to Pimple Saudagar too. So posting the same reply here too.


    Ritesh,
    If you have already bought a flat, there is no point to think if you made a right decision or not. However, if at all there is some way to get your money back. Just think if 2150 is a justified rate in under developed area like Wakad ?

    Have a look at this article by business world, its a must read - ]http://www.businessworld.in/index.php/Infrastructure/The-Rise-Fall-Of-Realty.html Take 10 minutes out and read if you are buying.

    The rates are supposed to drop more by 30-40% by November or even lesser than logical value according to this article. Depending on the area, this correction is going to area. I see following points turning out to be against Wakad -

    1. Wakad is far from the city( typically areas away from city are more susceptible to correction).

    2.Demand-Supply Gap - There is huge supply of ready possession/under construction property in Wakad which don't have buyers (very less even if they are). Go to MontVert, Pristine, Omega sites, the work seems to have stalled there because of cash crunch.

    3. IT job scenario- The only reason the prices were so much hyped in Wakad was its proximity Hinjewadi. But now, with IT itself in turmoil, the rates must move in downward direction.

    4. Lack of infrastructure: The Wakad area lacks basic infrastructure. No good market, doctors nearby.

    5.Risk with new construction: The builders are compromising with their construction quality to make up for the 'sacrifice' in the profit. Plus, you never know, if the scheme fails and the builder goes bankrupt becuase of cash crunch ? One of the DLF projects in delhi, the possesion has got delayed by 3 years and people are still waiting to get possesion despite of the road show against it. As Mahesh, pointed out you are going to pay at least 3 Lakh Rs interest + The rent(if you rent out this property).

    Finally, don't believe the builder and fall in trap. I had been to this site on 2nd day of the launch itself. There were around 20-22 tables on which sales guys were explaining the plan etc. After around every 15-20 mins, some sales guy used to come to the table and used to update the salesperson loudley like...... 'Flat No- 301, 504, 603..... are gone.' Just think logically, is this required at all ? How does it help the builder ? When one decides to buy, that time the sales guy can check ? It was not like vegetable market in peak time that the people were buying flats like vegetables that the status was changing every 15-20 mins.
    There may be a few dummy customers also to make others think that people are buying. They can used different strategies.

    One of my close friends is a broker and he told me that the builders have started selling properties cheaper from the backdoor. If you go directly to the builder, builder will quote higher rates and a few desperate people are buying even in these rates. But due to cash crunch, builders are selling these new properties as resale throught broker at cheaper rates. Now, you would ask why builders are not selling directly cheaper rates ? The answer is to keep the rates same for new construction.

    Hope this helps, save yourself and save others too.

    The rates are supposed to drop more by 30-40% by November or even lesser than logical value according to this article. Depending on the area, this correction is going to area. I see following points turning out to be against Wakad -

    1. Wakad is far from the city( typically areas away from city are more susceptible to correction).

    2.Demand-Supply Gap - There is huge supply of ready possession/under construction property in Wakad which don't have buyers (very less even if they are). Go to MontVert, Pristine, Omega sites, the work seems to have stalled there because of cash crunch.

    3. IT job scenario- The only reason the prices were so much hyped in Wakad was its proximity Hinjewadi. But now, with IT itself in turmoil, the rates must move in downward direction.

    4. Lack of infrastructure: The Wakad area lacks basic infrastructure. No good market, doctors nearby.

    5.Risk with new construction: The builders are compromising with their construction quality to make up for the 'sacrifice' in the profit. Plus, you never know, if the scheme fails and the builder goes bankrupt becuase of cash crunch ? One of the DLF projects in delhi, the possesion has got delayed by 3 years and people are still waiting to get possesion despite of the road show against it. As Mahesh, pointed out you are going to pay at least 3 Lakh Rs interest + The rent(if you rent out this property).

    Finally, don't believe the builder and fall in trap. I had been to this site on 2nd day of the launch itself. There were around 20-22 tables on which sales guys were explaining the plan etc. After around every 15-20 mins, some sales guy used to come to the table and used to update the salesperson loudley like...... 'Flat No- 301, 504, 603..... are gone.' Just think logically, is this required at all ? How does it help the builder ? When one decides to buy, that time the sales guy can check ? It was not like vegetable market in peak time that the people were buying flats like vegetables that the status was changing every 15-20 mins.
    There may be a few dummy customers also to make others think that people are buying. They can used different strategies.

    One of my close friends is a broker and he told me that the builders have started selling properties cheaper from the backdoor. If you go directly to the builder, builder will quote higher rates and a few desperate people are buying even in these rates. But due to cash crunch, builders are selling these new properties as resale throught broker at cheaper rates. Now, you would ask why builders are not selling directly cheaper rates ? The answer is to keep the rates same for new construction.

    Hope this helps, save yourself and save others too.

    The rates are supposed to drop more by 30-40% by November or even lesser than logical value according to this article. Depending on the area, this correction is going to area. I see following points turning out to be against Wakad -

    1. Wakad is far from the city( typically areas away from city are more susceptible to correction).

    2.Demand-Supply Gap - There is huge supply of ready possession/under construction property in Wakad which don't have buyers (very less even if they are). Go to MontVert, Pristine, Omega sites, the work seems to have stalled there because of cash crunch.

    3. IT job scenario- The only reason the prices were so much hyped in Wakad was its proximity Hinjewadi. But now, with IT itself in turmoil, the rates must move in downward direction.

    4. Lack of infrastructure: The Wakad area lacks basic infrastructure. No good market, doctors nearby.

    5.Risk with new construction: The builders are compromising with their construction quality to make up for the 'sacrifice' in the profit. Plus, you never know, if the scheme fails and the builder goes bankrupt becuase of cash crunch ? One of the DLF projects in delhi, the possesion has got delayed by 3 years and people are still waiting to get possesion despite of the road show against it. As Mahesh, pointed out you are going to pay at least 3 Lakh Rs interest + The rent(if you rent out this property).

    Finally, don't believe the builder and fall in trap. I had been to this site on 2nd day of the launch itself. There were around 20-22 tables on which sales guys were explaining the plan etc. After around every 15-20 mins, some sales guy used to come to the table and used to update the salesperson loudley like...... 'Flat No- 301, 504, 603..... are gone.' Just think logically, is this required at all ? How does it help the builder ? When one decides to buy, that time the sales guy can check ? It was not like vegetable market in peak time that the people were buying flats like vegetables that the status was changing every 15-20 mins.
    There may be a few dummy customers also to make others think that people are buying. They can used different strategies.

    One of my close friends is a broker and he told me that the builders have started selling properties cheaper from the backdoor. If you go directly to the builder, builder will quote higher rates and a few desperate people are buying even in these rates. But due to cash crunch, builders are selling these new properties as resale throught broker at cheaper rates. Now, you would ask why builders are not selling directly cheaper rates ? The answer is to keep the rates same for new construction.

    Hope this helps, save yourself and save others too.

    The rates are supposed to drop more by 30-40% by November or even lesser than logical value according to this article. Depending on the area, this correction is going to area. I see following points turning out to be against Wakad -

    1. Wakad is far from the city( typically areas away from city are more susceptible to correction).

    2.Demand-Supply Gap - There is huge supply of ready possession/under construction property in Wakad which don't have buyers (very less even if they are). Go to MontVert, Pristine, Omega sites, the work seems to have stalled there because of cash crunch.

    3. IT job scenario- The only reason the prices were so much hyped in Wakad was its proximity Hinjewadi. But now, with IT itself in turmoil, the rates must move in downward direction.

    4. Lack of infrastructure: The Wakad area lacks basic infrastructure. No good market, doctors nearby.

    5.Risk with new construction: The builders are compromising with their construction quality to make up for the 'sacrifice' in the profit. Plus, you never know, if the scheme fails and the builder goes bankrupt becuase of cash crunch ? One of the DLF projects in delhi, the possesion has got delayed by 3 years and people are still waiting to get possesion despite of the road show against it. As Mahesh, pointed out you are going to pay at least 3 Lakh Rs interest + The rent(if you rent out this property).

    Finally, don't believe the builder and fall in trap. I had been to this site on 2nd day of the launch itself. There were around 20-22 tables on which sales guys were explaining the plan etc. After around every 15-20 mins, some sales guy used to come to the table and used to update the salesperson loudley like...... 'Flat No- 301, 504, 603..... are gone.' Just think logically, is this required at all ? How does it help the builder ? When one decides to buy, that time the sales guy can check ? It was not like vegetable market in peak time that the people were buying flats like vegetables that the status was changing every 15-20 mins.
    There may be a few dummy customers also to make others think that people are buying. They can used different strategies.

    One of my close friends is a broker and he told me that the builders have started selling properties cheaper from the backdoor. If you go directly to the builder, builder will quote higher rates and a few desperate people are buying even in these rates. But due to cash crunch, builders are selling these new properties as resale throught broker at cheaper rates. Now, you would ask why builders are not selling directly cheaper rates ? The answer is to keep the rates same for new construction.

    Hope this helps, save yourself and save others too.
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  • yes... even i found that. Suncrest's final offer is 2750 p/SqFt. There are only 4 flats remaining... i am planning to book one. Considering the absence of amenities like Club House, gym, the rate is high for sure but internal amenity is cool and the ventilation is perfrect. i was sold after looking at the sample flat and even the actual flat.
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  • Dear Manoj,

    Are there any 3 bhk flats remaining at Suncrest ?
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  • Recent rates as of now

    Hi guys,

    I have been surveying the PS area since a month.
    I have seen builders quoting less rates initially. But, as the markets have started moving upwards, they have once again started quoting higher rates.

    I am failing to understand if this is hype or real? Don't you think this will result in chaos among people who were hoping that the prices will fall further? As a result, they would start buying immediately so that they don't miss the price dip.

    I would like to know a recent rates of following projects from you guys
    1) Rajaveer Palace
    2) Roseland Rhythm
    3) Mirchandani Palms
    4) Sun Crest
    5) Rose Valley
    6) Sai Heritage
    7) Sai Marigold
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  • Hi all,

    I am looking for a 3 BHK flat in PS. My budget is around 30L. Anyone can suggest a decent scheme ?
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  • hey commonman... wakeup!!

    1.5 years back I was almost in the same state as yours. The area that I was looking was different though. I wanted a decent 3BHK for 30L. Now I have realized that once you put the following factors, then your choices for a decent home are very limited:

    1.) Location
    2.) Size of the society
    3.) Size of the flat
    4.) Floor layout
    5.) Project Layout
    6.) Amenities
    7.) Budget

    Anyways...happy house hunting...see you soon with an increased budget and hopefully with very less frustration!
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  • Originally Posted by punebloke
    hey commonman... wakeup!!

    1.5 years back I was almost in the same state as yours. The area that I was looking was different though. I wanted a decent 3BHK for 30L. Now I have realized that once you put the following factors, then your choices for a decent home are very limited:

    1.) Location
    2.) Size of the society
    3.) Size of the flat
    4.) Floor layout
    5.) Project Layout
    6.) Amenities
    7.) Budget

    Anyways...happy house hunting...see you soon with an increased budget and hopefully with very less frustration!


    Hi Punebloke,
    Thanks for sharing your comments. However, here are the reasons why its very tough for me to shell out even a penny more than 30L.

    1. EMI of Rs. 30,000:- I work with a prominent IT MNC earning a very good salary. However, after all tax cuts i get Rs. 55,000 in my hands. You would definitely agree that in a city like Pune, you need to spend 25k a month to maintain good life style. Already, paying Rs. 30k a month for 20 years seems quite a challenging task.

    2. Save for future:- Buying a flat is not the only objective in your life. There are many others for which you need to save like chldren's education, post retirement life etc. If i pay more than half of my salary for a single shelter seems like too much.

    3. Job security:- Today there is no job security in IT industry. Comapnies are laying off lots of peole very silently. I just can't imagine what will happen to my EMI of 30k ? Will i be able to pay it even for 2 months. I did some 'google'ing to find out that the defaulters have increased for home loan and majority of them are IT 'workers' who work for their company and the builders.

    One of my friends lost his job in November last year and now he wants to sell it immediately.But can't sell it now, no buyers.He is under tremendous mental pressure.

    4. Why to buy for more than 30L? :-
    The standard way of evaluating a flats price is to consider the rent in the area. The rent must be at least half of the EMI being paid. So, for 30L the EMI turns out to be 30K and half of it is 15k which is still more than the rent of a 3 BHK in PS area. You can get a very good 3 BHK flat for Rs. 12,000. This means, actually one should not pay even more than 24-25L. I have already stretched my budget beyond that.

    In fact, less rent in the area, that too when very few people are buying suggests there are lots of flats remaining vacant owned by investors/builders.

    5. Lots of sellers, but no takers:-
    Just to see how many people are trying to sell in PS area, iwent to magicbricks.com. And can you guess how may properties i found in PS area alone ? I found around 2300 properties waiting to find buyers! If i am not wrong, PS area has around 10000 flats. So, around 25% properties are to be sold and thats a big number. I have checked only on a single website. There can be many other properties which never get listed on website or on some other website.

    Punebloke, if you consider the above mentioned facts, you may agree that even 30L seems to be too much! I don't know how the hell builders are still quoting rates around 3000 in PS area and if any people are still buying how they are falling in the trap ?
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  • you should easily get a decent 3BHK flat in PS if you have 30L ready liquidity and are willing to provide a higher downpayment percentage.


    btw, all this talk of market improving is bluff. Only the stock market has risen in the last couple of weeks. This does not mean anything for the Real estate. All other real economic indicators are spiralling downwards each passing day... but what do these brokers know about such stuff.. they think the stock market increase means that the economy is booming upwards!

    hell, companies like DLF, Unitech. Indiabulls are selling themselves... you know what does it mean by recent news of raising money to pay off debt interests by "private placement of equity" for institutionalised investments... the RE company owners have to sell off part of their ownership in the stock market to raise money for debt interest payments and prevent themselves from going bankrupt!


    There is no actual improvement of the economy... people who hold on to their hard earned money for the next 9-12 months would be surprised to see the gains made from patience.
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  • Hi Amit,

    i agree with the global economic factor, and also the builders starting to raise money from stocks. I am ready to wait for more time, but is it guaranteed at least a 10-15% reduction in psf rates ?

    And please clarify one point - how does 30L in liquidity gets different from 30L loan a bank provides? assuming a reputed builder does not take any money in black. I might get finance from one of my friend if that can help me negotiate better. But i dont understand the equation that 30L liquidity can help me get better deal. How will this help the builder?

    I am a prospective buyer waiting for more than 2 years, and can wait one more year for sure if its guranteed that at least there is a 15% correction from todays psf rates.

    Thanks.
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