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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  • 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.


    Hi,
    It would be great if you tell the builder name who are selling 2600 psf.
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  • Originally Posted by realacres
    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.


    Wakad is much better than Ambegaon. I travel to wakad so many times, so for me its part of Pune. Ambegaon I wonder why is this discussed in Pune thread?
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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.



    Conveniently assumption of demand supply in your favour. :D:D:D

    If demand is more rent in that area will go up. simple. period.:bab (35):
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  • RE rate started slipping as per analysis, check the latest index

    http://makaaniq.makaan.com/makaaniq/property-prices-in-pune-see-a-marginal-drop-of-18-in-april-2010-says-makaancom-property-index-mpi.html

    Better to wait for few month as it may further go down due to over supply of residencial property.
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  • Large builder says 20% correction in mumbai expected soon

    http://www.moneycontrol.com/news/business/orbit-corp-looks-at-raising-rs-1000-cr-via-qip_463338.html

    Originally Posted by pnb_2k
    RE rate started slipping as per analysis, check the latest index

    http://makaaniq.makaan.com/makaaniq/property-prices-in-pune-see-a-marginal-drop-of-18-in-april-2010-says-makaancom-property-index-mpi.html

    Better to wait for few month as it may further go down due to over supply of residencial property.
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  • Yes, this is very true, extremely high prices with low volumes cant sustain for long, last time the prices started to go southwards but the banks played the spoil sport by decresing interest rates and offering 90-100% loans.

    This time, RBI will make sure this does not happen,and we want the banks to maintain strict policies despite low volumes and sales, let the builders reduce the prices & stop all frauds first and ONLY then we will BUY.
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  • Mkt has to go Down...any idea for when the chinese Mkt is on its verge to see "subprime" similar environment, within there economy....RE regulatory authority needs to be established ASAP so as to avoid any further exploitation by Mafia Builder Lobby......and we get healthy home at affordable budgets....
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  • Originally Posted by Manoos
    Large builder says 20% correction in mumbai expected soon

    http://www.moneycontrol.com/news/business/orbit-corp-looks-at-raising-rs-1000-cr-via-qip_463338.html


    One RE spokesperson on a TV channel claimed that around 80% who buy RE in Mumbai are investors and that current prices would not sustain for long.
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  • see the thread title :-)

    Thread title says prices will go down by Diwali, here we are standing and waiting for another Diwali :) and prices are moving higher.
    Speculations...
    Its all supply and demand. We should agree that land is not available and where available there is no infrastructure or it is in exterior area.
    I think RE prices are not going up for now but are consolidating, though on longer trend chart it is upwards for sure.
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  • How do you know RBI will do this or that?? Forget abt all this what RBI does or what banks do? Look at the bigger picture??

    Job prospects are getting better day by day, not only IT, but govt jobs, Bank jobs, Pharma, mannufacturing industry, Agri ind etc etc.

    And most of all, do you know how many kids got added into Indian population, between your and my post?? :)

    Prime cities like Pune n all, i dont think rates will go down guys. I see craziness here abt Pune, most threads are discussing RE in Pune. This shows to builders, that people are dying to buy in Pune, if there is slight drop in prices. Somebody had opened a thread, that this is self defeating hypocrisy for all of us.

    Everyone can say, i want banks to do this, RBI shall do this/that? But bigger picture is different dude. Good luck.


    Originally Posted by pcpune
    Yes, this is very true, extremely high prices with low volumes cant sustain for long, last time the prices started to go southwards but the banks played the spoil sport by decresing interest rates and offering 90-100% loans.

    This time, RBI will make sure this does not happen,and we want the banks to maintain strict policies despite low volumes and sales, let the builders reduce the prices & stop all frauds first and ONLY then we will BUY.
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  • Well, if that was the case prices would have tripled again from 2007 to 2010, the way it happened in 2004-2007. This kind of absurdness does not happen TWICE.
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  • Originally Posted by pcpune
    Well, if that was the case prices would have tripled again from 2007 to 2010, the way it happened in 2004-2007. This kind of absurdness does not happen TWICE.


    pcpune, this is a cycle which will come and just won't go. it will consolidate and then move again atlst for developing economies.

    Jo sochta hai woh sochta hi rehjayega :), even I'm still thinking to buy a home :bab (22):. Have to take a call.
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  • Infosys to hire 30k. Economy getting better. No chance of RE going down. Yes and as someone mentioned this post was for previous Diwali, from previous Diwali rates high. See comments from some of our senior memeber who backed the claim of price drop.
    Prices going southward. See trends in Noida etc wher price going up Rs100 every month in some projects
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  • Ignorance is a bliss.

    Originally Posted by realbee
    Infosys to hire 30k. Economy getting better. No chance of RE going down. Yes and as someone mentioned this post was for previous Diwali, from previous Diwali rates high. See comments from some of our senior memeber who backed the claim of price drop.
    Prices going southward. See trends in Noida etc wher price going up Rs100 every month in some projects


    Infy to hire 30K, do you know how many will leave infy? or you dont want to think about all this?

    Rents in market are stagnant from 2008 onwards. Dont you want to think why? even when economy getting better?

    Prices are still struggling to touch their 2008 peaks. why? or you dont want to think all this. why to trouble the brain?

    Read TOI and buy and make forture, simple right? why to trouble the little brain at all when TOI is telling us story.
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  • Originally Posted by realbee
    Infosys to hire 30k. Economy getting better. No chance of RE going down. Yes and as someone mentioned this post was for previous Diwali, from previous Diwali rates high. See comments from some of our senior memeber who backed the claim of price drop.
    Prices going southward. See trends in Noida etc wher price going up Rs100 every month in some projects


    Today Bloomberg reported - highlights are:
    Foreclosures rise by 44%.
    25% of all mortgages are under-water (mortgage is more than worth of house) in USA.
    Almost 3.1 millions homes foreclosed (seized by banks) since 2005 and another 5 millions are expected to be foreclosed.

    Full Report:http://www.bloomberg.com/apps/news?pid=20601087&sid=aF9v9t9hrr7Q&pos=2
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