I have got confirmed news from one of family friend who works with one of the reputed builders (from Pune), that property market in Pune is getting worse day by day. Many people who has signed but not made agreements are cancelling the deals (due to job conditions). Plenty of new projects are at High Risk. Many wise builders stopped the launch of new projects (including Paranjpe, DSK, Kumar).
People don't have money to pay EMI. Investors are not getting good rents. They want to sell off.
All in all, by Diwali rates will be down, if not the same.

You still can buy a flat if you have secured job and enough of money in hand. Those who want to take loan (more than 10L), please don't take risk.

Sansona
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  • Prices won't fall down by same pace as they were rised, because of huge demand in this sector not only in Pune as other cities also. It is always advisable if you get a good deal which includes your all parameters then don't wait for time to price down till that search.
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  • It's truely a battle of bulls and bears in this forum!
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  • Hi..after completing an aniversary of this message did u chk with your frnd abt the confirmed news..
    I doubt if ur frnd is a reliable source..


    Originally Posted by sansona
    I have got confirmed news from one of family friend who works with one of the reputed builders (from Pune), that property market in Pune is getting worse day by day. Many people who has signed but not made agreements are cancelling the deals (due to job conditions). Plenty of new projects are at High Risk. Many wise builders stopped the launch of new projects (including Paranjpe, DSK, Kumar).
    People don't have money to pay EMI. Investors are not getting good rents. They want to sell off.
    All in all, by Diwali rates will be down, if not the same.

    You still can buy a flat if you have secured job and enough of money in hand. Those who want to take loan (more than 10L), please don't take risk.

    Sansona
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  • Sansona or Sansani ... Man this information scares the hell out of you. God knows, if Sansani managed to buy his own house at a cheap rate after throwing out this sansani for others.

    God bless.

    Originally Posted by sansona
    I have got confirmed news from one of family friend who works with one of the reputed builders (from Pune), that property market in Pune is getting worse day by day. Many people who has signed but not made agreements are cancelling the deals (due to job conditions). Plenty of new projects are at High Risk. Many wise builders stopped the launch of new projects (including Paranjpe, DSK, Kumar).
    People don't have money to pay EMI. Investors are not getting good rents. They want to sell off.
    All in all, by Diwali rates will be down, if not the same.

    You still can buy a flat if you have secured job and enough of money in hand. Those who want to take loan (more than 10L), please don't take risk.

    Sansona
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  • Well he mentioned diwali. not which year's diwali ... so for many members of this forum the original message still applies :D

    Originally Posted by manu1981
    Hi..after completing an aniversary of this message did u chk with your frnd abt the confirmed news..
    I doubt if ur frnd is a reliable source..
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  • Property prices are unreasonable ...AGREED !
    But please ponder on factors below :
    1.proportion of "looking for work" population is exponentially increasing compared to jobs at hand.
    2.Jobs are only concentrated in the cities or its close suburbs.
    3. I can buy at 500 Rs/ft at fugewadi ( xyz town) but there will be no jobs there.
    4. India's travel infrasructure for long distance commute is a joke.
    5. If you are IT "superdude" , or technological " Experienced Professional" you need to be in the city to earn in sync with others.

    So in conclusion population will grow , everyone is running and will run in race of earning more till death, jobs will be available only around city area, so new faces will flock every year towards cities and will pay for unreasonable property prices...

    Those are my 2 cents..
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  • Originally Posted by zuzuzu

    So in conclusion population will grow , everyone is running and will run in race of earning more till death, jobs will be available only around city area, so new faces will flock every year towards cities and will pay for unreasonable property prices...


    And so the builders keep on getting buyers....and demand again is more than the supply (supply in right locations). And finally....no chance of rates coming down. :bab (38):
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  • What I can see from last 2 years (& I have confirmed with few persons in constrcuction line) is that Jun-Aug is the best time to buy property. During this period, due to monsoon, eerything is sluggish. Including stock market, cloth market, commodities etc.

    So during this time, no new launches happen & overall progress slows down. This is the best time to book since rates come down inadvertantly by 15% min.

    Again from Sept onwards, market picks up the activity.
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  • Last two years's observations?? Here we are, studying and observing the patterns in gloom, boom and doom since 1920's and even before, you place your possbily biggest purchase in life on two year's data!
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  • Well, It was my call & proved to be OK atleast for me.
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  • Originally Posted by nitesh321
    And so the builders keep on getting buyers....and demand again is more than the supply (supply in right locations). And finally....no chance of rates coming down. :bab (38):

    For now rates r coming down since supply is more and demand is less. 2 months back builders in Wakad were quoting 2900psf(without negotiation), now they started negotiating with customer upto 2600psf.
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  • Originally Posted by pnb_2k
    For now rates r coming down since supply is more and demand is less. 2 months back builders in Wakad were quoting 2900psf(without negotiation), now they started negotiating with customer upto 2600psf.


    Thats why I said 'supply in right locations'. Wakad always had & will have scope for negotiation (with some builders atleast) as there is a lot of competition among the builders to attract buyers as there are lot many projects going on there.
    This is not the case at some other locations in Pune.
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  • Suddenly this thread is emitting right and knowledgeable facts :)
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  • Originally Posted by nitesh321
    Thats why I said 'supply in right locations'. Wakad always had & will have scope for negotiation (with some builders atleast) as there is a lot of competition among the builders to attract buyers as there are lot many projects going on there.
    This is not the case at some other locations in Pune.

    Add Ambegaon to Wakad list as well. Amit Bloomfield is still selling err trying to sell:D. Man, look what they advertise for Ambegaon:-

    The most premium address in Pune:D:o.
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  • I think Pune's ready possession inventory is really building up very fast, now all magicbricks/99acres/indiaproperties is laced with "new construction" advertisements from builders and agents try to sell or RE-SELL ...
    Common...Give us a break !!!!!!!
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