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 Sarang_Pune
    This is what one of my colleague had to say during one of these discussions regarding an article posted today (4-Jun-09) in rediff regarding drop in realty prices -
    Housing prices in Pune have also dropped considerably.
    Only the problem is that builders are still showing high rates to customers and we, professionals, have tendency of not negotiating the prices.

    Actual price/sq ft in Wakad is 2100-2200 but builders are quoting it 2600.
    For pimple saudagar, considering the no of ongoing projects, the rates are even lower.
    You will get best price only when u start at low rate (say 2000) and bargain hard.

    P.S. – I got all this information during one of my site visits Wakad from an architect who has designed many prestigious projects in Wakad area. As per him, Pune real estate has not reached its bottom yet, the price will still drop considerably if the buyers show that they are unhappy with the prices.

    So please think before you buy, the price might look good to you but still you can buy at low rates by bargaining.

    Personally, I don't see anything wrong on builders' part. They are doing business and they definitely have right to gain as much profit as possible.
    In free market, prices are always decided by Demand-Supply.

    With the gloomy outlook of IT industry, affordability of >25L house has taken a big hit for the IT folks and hence demand will decrease further until the prices are in affordable range. And investors are no way in teh scene anymore.... only genuine home buyers.

    Builders will not reduce prices because they SHOULD reduce, They will reduce it when they HAVE TO reduce.


    Posting a link to the article which Sarang is referring to.
    ]http://business.rediff.com/slide-show/2009/jun/04/slide-show-7-housing-prices-have-begun-to-drop.htm

    Sarang, I think this is the article right ? Please post the correct link, if at all this is not correct.

    You are absolutely correct that the rates in PS will come down only when we start quoting for sub 2000 rates.

    Just to add on you Wakad update. In Baner area, near Sadanand Hotel too builders are quoting 3000 plus rates and after negotation giving away ready possession flats for rates around 2600 or even lower. I will try to explore in these areas over the next few days.

    While buying we IT folks often tend to forget that the EMI which we have tp pay is for 20 years and our job security is only for 1-2 months!

    Sarang, I think this is the article right ? Please post the correct link, if at all this is not correct.

    You are absolutely correct that the rates in PS will come down only when we start quoting for sub 2000 rates.

    Just to add on you Wakad update. In Baner area, near Sadanand Hotel too builders are quoting 3000 plus rates and after negotation giving away ready possession flats for rates around 2600 or even lower. I will try to explore in these areas over the next few days.

    While buying we IT folks often tend to forget that the EMI which we have tp pay is for 20 years and our job security is only for 1-2 months!
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  • Loan Disbursement stuck due to NA order not submitted to IDBI bank

    Has anyone bought a flat in ganeesham -2 and got loan disbursed. I had everything done with IDBI bank but at the last moment, the bank stopped the dsibursement stating the NA order is not submitted. I enquired with builder and he states its for 'A' building but the F, G , H, I are approved. The builder also has APF# of the IDBI bank and still this happened. Is anyone facing the same issue?
    Please let me know if anyone of u have booked flat and are facing any such issue, also what other banks/HFCs is the project already approved, if u know please share.
    Also is there anything I am missing? that I need to be careful about?

    Awaiting ur valueable advice friends, please help!!!
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  • I agree with Arin we are only reason for high proerty rate,
    dont buy flats at high rate.
    demand will go down and rates too
    Originally Posted by arin_12
    I dont know why you people are still buying house at the high inflated rate. I dont you people might have earned the money with out hard working.
    Think - Rethink, If you are getting VFM or not.
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  • I agree with Sarang we should bargain hard.
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  • One of the most idiotic and arrogant builders you'll come across. Rest assured that your project will never be completed. promises made in the brochure will remain just that "promises". If you have any doubts.. just go and visit the last two projects of SSD Sai Avenue & Sai Angan both opposite Kunal Icon and you'll get the real picture. If you still want to spash 25+ lakhs of your hard earned money on Mr Vijay & Vinod... remember you were warned.
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  • How is Aishwaryam builder in Pune

    Guys, Anyone knows about Aishwaryam builder in Pune?
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  • Dengue, malaria lay IT professionals low; builders blamed.

    MANOJ MORE
    Posted: Jul 13, 2009 at 0144 hrs IST

    Pune
    Dengue and malaria have again reared their head in Pimpri-Chinchwad.

    Unlike in the past when dengue and malaria cases surged post-monsoon, this time the menace has cropped up right during the monsoon.

    The affected areas include Pimple Saudagar, Wakad, Rahatni and areas around Jagtap Diary. At these places construction activity has been going on for years. Pimple Saudagar, where property prices have hit the roof and where many IT professionals working in Hinjewadi park stay, has been the worst hit.

    Since January, 150 dengue cases and 250 malaria cases have been recorded in Pimpri-Chinchwad. In July alone, till Saturday, around 20 dengue and 30 malaria cases have been registered.

    Even as the Pimpri-Chinchwad Municipal Corporation has issued notices to 36 builders to remove pools of water around their construction sites, residents and civic activists are breathing fire at the civic body for “playing with their lives.”

    Thirty-five-year-old Bhagvat Sonawane, a resident of upmarket Pimple Saudagar, said, “In the past few years, dengue and malaria cases have been making life miserable for residents in Pimple Saudagar. This year, the situation is worse. Yet, the civic body has refused to take emergency steps.”

    A week ago, Sonawane, a project manager with an IT firm, had to be admitted to Aditya Birla Hospital with high fever. “I was treated for a week for dengue and the total bill was Rs 24,700,” he said.

    He could afford to pay the bill, but what about poor construction labourers and other poor families, said Sonawane.

    Next to his bed at the hospital was an IT professional who had come from Bangalore for training . “He had spent barely three days in Pimple Saudagar before he got dengue. Many IT professionals are suffering either from malaria or dengue,” said Sonawane, who lives in Tushar Residency.

    A roadside shopkeeper’s two sons were also admitted to a private hospital. The shopkeeper spent nearly Rs 30,000 on their treatment. Both have been discharged, he said.

    Sonawane said the builders in Pimple Saudagar, Rahatni and Wakad areas need to be reined in. “Pools of water are a common sight at construction sites. Besides, garbage is spread all over. All this is spawning the mosquito menace while the civic body has shut its eyes,” he said.

    PCMC medical director Dr Rajshekhar Iyer said builders have been told to take precautions to prevent the mosquito menace. “If they don’t, we will bring their construction activity to a halt,” Dr Iyer said.

    Maruti Bhapkar, an activist-turned-corporator, said the PCMC had not taken any action against builders in the past and will not do it now. “Residents should learn to take care of themselves,” he remarked.

    http://www.expressindia.com/latest-news/dengue-malaria-lay-it-professionals-low-builders-blamed/488533/
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  • Originally Posted by realpune
    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.

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D

    Very good Insight. Need to support most of points.

    A simple way to understand cost is Land rate+ Cost of construction per Sq Ft. Also Demand and supply rule.

    I have been looing at many sites over last 6 months. There are Tons of READY possession Flat avaialble.... Also weely fall and rise of prices are all sales tactics.... be firm on what you want and what rate... I now it is dificult but nobody is dying if you boo flat with some other builder or slightly late ... YOU ARE NOT MISSING ANY TRAIN...

    Dont Fall for Pressure Tactics .... ALL SOLD OUT .. Very Few Remaining .... I have obeserved that sales guys try to push customers to push for under constructuon flats first to loc their money ....

    May we should start posting how many Ready possession flats are avaialble in which project....:D
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