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Pune Property Rates Will be Down by Diwali

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Pune Property Rates Will be Down by Diwali

Last updated: September 23 2016
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  • Re : Pune Property Rates Will be Down by Diwali

    link

    ]http://www.indianrealestateforum.com/chennai/t-real-state-of-chennai-real-estate-5596.html[/URL]


    So it will be longer than diwali ???

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    • Re : Pune Property Rates Will be Down by Diwali

      Pl. dont listen to those so called market pundits.They get paid for their reviews.Did they predict about market fall? besides god nobody is in position to forsee future market trend.And believe me builders community who are having good holding capacity will not in a mood to negotiate their rates lesser than 10% maximum.

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      • Re : Pune Property Rates Will be Down by Diwali

        I am wondering what is happening in the Pune RE market. For last one year, no real scheme has been launched by any builders. They seem to have good control over the situation and seem to be holding out well. On the other hand, those who are looking for a place seem to be satisfied with a minor rate cut and running around with chequebook in hand.
        Last edited by ttt43; July 23 2009, 03:53 PM.

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        • Re : Pune Property Rates Will be Down by Diwali

          Right said Hrishi. It's the way business is done everywhere. The seller will try his best to sell at highest possible price while the buyer will do the oppposite. If the seller can afford to wait till he gets the right buyer then he will not lower the price below a certain level. Currently it is a situation of who blinks first. Let's hope the builders are the one. After all greed or the threat of bankruptcy will drive some of them to lower the price and reap the benefit of being the first mover.

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          • Re : Pune Property Rates Will be Down by Diwali

            Originally posted by hrishikesh View Post
            Pl. dont listen to those so called market pundits.They get paid for their reviews.Did they predict about market fall? besides god nobody is in position to forsee future market trend.And believe me builders community who are having good holding capacity will not in a mood to negotiate their rates lesser than 10% maximum.
            hrishikesh,

            Can you please elaborate on who pays and how much for their reviews?
            I am sure every one is eager to know the secret that only you know

            Also why were builders in mood to negotiate rate upto 10%? Out of charity? or they pity the buyers?

            Please help me understand.

            Thanks in advance.

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            • Re : Pune Property Rates Will be Down by Diwali

              Look at Schemes of major builders in Pune:-

              Nanded City
              Kumar Aatman
              Kumar Papillion
              Blueridge
              Megapolis
              Crosswinds
              MV
              Felicita
              ...... The list can go on.

              Why are the projects getting delayed or abandoned like in case of BR new towers, Nanded City, Papillion etc.? If builder had money & bookings, they could have completed the projects, couldn't they?

              Builders don't have the cash now. I have personally observed builders selling at lower rates through backdoor channels.

              Simply look at these 2 facts which can be observed personally:-

              Speed of construction &
              Follow up by the builder (they never bothered to give you a call in boom period, now they follow you for atleast few weeks).
              In boom period, there used to be heavy rush in office & builders' did not even had the courtesy to offer a glass of water. Go today & you will be pampered. Why sudden change of heart?

              Earlier I used to speak with senior salesperson. Now the builder directly invites me to his office! Got the point?
              If you are happy, you are successful.

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              • Re : Pune Property Rates Will be Down by Diwali

                Originally posted by ttt43 View Post
                I am wondering what is happening in the Pune RE market. For last one year, no real scheme has been launched by any builders. They seem to have good control over the situation and seem to be holding out well. On the other hand, those who are looking for a place seem to be satisfied with a minor rate cut and running around with chequebook in hand.
                how long can they hold out?, they have started feeling the cash crunch, and they cannot wait for a long time. I have seen real data that a booking in PS area was done for 2400 psf in April, the same flat was cancelled in June. It has been resold in July for 3000 psf.

                Now what does this 25% increase in RE mean?

                This data is not indicating any recovery from recession, or any RE boom. This indicates the stupidity of the buyers who have fallen into a trap. As someone else said earlier in another thread, the investors who missed out in 2004/05 are thinking they will miss out another opportunity if they do not buy at current levels. Thats just pure panic, nothing else. Who in this world today especially in the IT industry is expecting salary raises in the next 2 years? which sector is generating jobs for the millions who have come out of college this year?

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                • Re : Pune Property Rates Will be Down by Diwali

                  Rot

                  The money crunch started in 2008 begining.

                  The prices reached Sky high, 3000+ psf for Wagholi and kharadi???

                  People stopped booking. those who booked r trapped now.:p

                  bldrs offered flats instead of money to its supplier.

                  Projects stalled , construction slowed.

                  The way out is only by increasing salaries, after eco picks up.

                  Zooming salaries r out. So zooming prices r also out.

                  Another saner way by bldrs is to reduce their profit margins & sell

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                  • Re : Pune Property Rates Will be Down by Diwali

                    Is this a fake sale?

                    Originally posted by tsongt View Post
                    how long can they hold out?, they have started feeling the cash crunch, and they cannot wait for a long time. I have seen real data that a booking in PS area was done for 2400 psf in April, the same flat was cancelled in June. It has been resold in July for 3000 psf.

                    Now what does this 25% increase in RE mean?

                    This data is not indicating any recovery from recession, or any RE boom. This indicates the stupidity of the buyers who have fallen into a trap. As someone else said earlier in another thread, the investors who missed out in 2004/05 are thinking they will miss out another opportunity if they do not buy at current levels. Thats just pure panic, nothing else. Who in this world today especially in the IT industry is expecting salary raises in the next 2 years? which sector is generating jobs for the millions who have come out of college this year?

                    From 2400 to 3000 in this market even by a stupid buyer looks too implausible. I don;t think anyone is that stupid!

                    On the other hand in times of stress (or even otherwise) builders and other RE-interested people are prone to fraud - like doing circular trading or circular sales, i.e, selling between themselves at increasing prices and publicising it to create an artificial increase.

                    If you are really serious, you might want to contact the actual buyer at that price and check out the credentials. You'll probably find out its a fraud.

                    cheers

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                    • Re : Pune Property Rates Will be Down by Diwali

                      2400 -> 3000 is a fact. I rounded the numbers though, to be precise the numbers were 2415 -> 2950. The deals happend in the GK builder project in PS area. Its extremely hard to believe, but the salesman has shown me all the bookings for the months of March - mid June while I was trying to close the deal. And I confirmed the booking for the rate of 2950 as well.

                      The buyers have indeed done such things, and they are equally responsible as well for the builder's greed. Feb and March 09 were the months where some reasonable deals have happend in Pune. And the rates are 25% up now. These are real data.

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