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Property prices in Pimple Saudagar

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Property prices in Pimple Saudagar

Last updated: August 16 2009
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  • #71

    #71

    Re : Property prices in Pimple Saudagar

    i agree about Bangalore infrstructure being much better around the city than Pune. See, the investments always carry a risk whether its stock or RE. Time will decide if its a good investment or not.

    I too cannot imagine today a 5000psf rate in Aundh becoming 10000psf in the next 4 years. But if that happens i am certain that the rates in PS or Wakad may touch 7500 in 4 years time.

    If someone strongly believes that the worst is yet to come, then its wise to wait. If we go with Warren Buffet, we should start buying if you are thinking longterm ;-)

    this is purely my presonal thought. Lets come back to this thread after sometime and see what happens. There are lot of builders who have bought lands in higher prices which is one reason they are not negotiating too much.

    Comment

    • #72

      #72

      Re : Property prices in Pimple Saudagar

      Can anyone please provide their inputs on prices of the projects listed below?

      Thanks.

      Originally posted by ganeshjaju View Post
      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

      Comment

      • #73

        #73

        Re : Property prices in Pimple Saudagar

        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.

        Comment

        • #74

          #74

          Re : Property prices in Pimple Saudagar

          Originally posted by tsongt View Post
          IT is the big share of income everywhere including Chennai, Bangalore, Pune or Hyd. You cannot single Pune alone, for sure.

          compare PS or wakad with similar localities in Bangalore or Chennai which are within the range of 6-8 kms away from the core city. You cannot find a decent locality in these cities where you will get a 2BHK/1000 Sq ft apts with decent amenities for around 30L or Rs 3000 psft, and that is still available in Pune.
          tsongt,

          Rates in Bangalore are at much more realistic level than in Pune. At Banerghatta Road, Bangalore 2 BHK flats are available for 18-20L and 3BHK for 30-35L and these are being offered by very reputed builders.

          One more point, the rent which you get for these flats justify their value. In Bangalore for a 2 BHK flat in decent locality which costs you around 26L, one gets around 12k rent per month. However, in Pune for a 2BHK flat costing 30L the owner struggles to get even 10k as rent.

          To add one more. Bangalore city has much better infrastructure and the center of south. You can't compare Bangalore and Pune rates. Pune rates have to be much lesser. I have stayed in Bangalore in 2006-07. The no of IT companies in Pune are much lesser than in Bangalore. The salaries offerred t IT folks are much more than in Pune.

          Comment

          • #75

            #75

            Re : Property prices in Pimple Saudagar

            One of the reasons fot higher rates at Pune is it is close to India's financial hub Mumbai. People who can not afford to invest in Mumbai are investing in Pune real estate.

            I think having Mumbai so close must be beneficial for Pune in other areas but reality.

            Comment

            • #76

              #76

              Re : Property prices in Pimple Saudagar

              Originally posted by tsongt View Post
              i agree about Bangalore infrstructure being much better around the city than Pune. See, the investments always carry a risk whether its stock or RE. Time will decide if its a good investment or not.

              I too cannot imagine today a 5000psf rate in Aundh becoming 10000psf in the next 4 years. But if that happens i am certain that the rates in PS or Wakad may touch 7500 in 4 years time.

              If someone strongly believes that the worst is yet to come, then its wise to wait. If we go with Warren Buffet, we should start buying if you are thinking longterm ;-)

              this is purely my presonal thought. Lets come back to this thread after sometime and see what happens. There are lot of builders who have bought lands in higher prices which is one reason they are not negotiating too much.
              In can understand that In areas like Aundh, where there is no land for further developments, the rates will be sustained,if at all they don't decrease.

              About PS and Wakad area - I think huge amount of land is available for further develpoment. During 2006-07 the land prices went up multiple folds. But now, the land prices too have started coming down. And if you apply simple demand-supply logic for the land too, you too would agree the land prices won't go up at least in Wakad, PS area.

              3 reasons for rates hike in Wakad PS area in 2007-
              1. Very good IT job market.
              2. More demand - less supply.
              3. Increase in construction cost.
              4. Land rates going up.

              But now, i see all 4 factors going against it. So, my personal opinion is that the rates should go down. But if at all they don't(assuming my prediction goes wrong), at least i don't think that the rates are going to get double in PS and Wakad area.

              Affordability is the key factor my dear. Already the flats costs in PS and Wakad area has gone out of reach of 'rich' IT folks. And i don't think the IT salaries are going to get doubled in next 5 years that people are going to buy for double rates In fact the chance of IT salaries being cut over the next few years seem to be very dark.

              Comment

              • #77

                #77

                Re : Property prices in Pimple Saudagar

                Originally posted by Sarang_Pune View Post
                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[/URL]

                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!

                Comment

                • #78

                  #78

                  Re : Property prices in Pimple Saudagar

                  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!!!

                  Comment

                  • #79

                    #79

                    Re : Property prices in Pimple Saudagar

                    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 View Post
                    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.

                    Comment

                    • #80

                      #80

                      Re : Property prices in Pimple Saudagar

                      I agree with Sarang we should bargain hard.

                      Comment

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