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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

    Originally posted by tsongt View Post
    yesterday i saw in ESPN that the prize money for some of the Golf and Tennis tournaments are getting affected as the sponsors have backed off.

    Argentenia has delayed the soccer season because of recession and lesser sponsors.
    Honda has pulled out of F1 racing due to cash crunch.
    If you are happy, you are successful.

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    • Re : Pune Property Rates Will be Down by Diwali

      Top Nine Listed Real Estate Firms Post a 76% Dip in Profit and 57% Fall in Sales

      August 6, 2009
      IRN

      India’s struggling realty industry may have sprouted some green shoots of late, but the top nine listed real estate firms posted a 76% dip in profit and 57% fall in sales in the June quarter, prompting the segment leader to observe that the industry is not “completely out of the woods”. Analysts said the revival in demand could improve things, especially in light of a government subsidy for loans taken for affordable housing, but warned that a possible price war between players sitting on huge inventories could spoil the scene. “The recovery of the sector will depend a lot on the sustenance of demand,” said Shailesh Kanani, a real estate analyst with Angel Broking.

      Rupesh Sankhe, another real estate analyst with Centrum Broking, felt low-priced homes will continue to drive up demand , even though it may not be, “anywhere close to what we saw in 2006 and 2007”. DLF, India’s largest listed real estate developer, sold 2.5 million sqft of home space in Delhi and Bangalore in June quarter and wants to launch another 16 million sqft of residential space this fiscal. DLF reported a 79% decline in profit and 57% slide in sales for the June quarter.

      “There has been a reasonable revival in demand for homes not just in low-cost or mid-income , but also for high-end ,” DLF vicechairman Rajiv Singh told an analyst conference call on Friday. His immediate competitor, Unitech, reported 63% decline in profit with sales down by half. “Property prices have come down and so has the interest rate. That’s why home buyers are again looking at the property market ,” said R Nagraju, head of corporate planning at Unitech. The firm is targeting to sell a total of 30 million sqft of space this fiscal. Other realty players Indiabulls Real Estate, Parsvnath, Omaxe, HDIL, Akruti, Sobha and Purvankara too have reported decline in profits up to 95% for the June quarter. Parsvnath chairman Pradeep Jain said the worst was over for the sector and demand had started picking up. But the pick-up in demand hasn’t really erased all concerns as DLF’s Rajiv Singh said the sector was still not “completely out of the woods.”

      Much of the new bookings received in residential projects have been in what developers call ‘affordable’ category or homes priced between Rs 20-35 lakh. Encouraged by the response , more developers are readying to launch homes in this segment. The tax benefits announced recently by the government for smaller homes is likely to act as additional incentive for projects in the category. “Supply is likely to increase faster than the demand in the residential market, as many developers, who had been postponing their launches for a long time are now launching new projects ,” says another analyst with a Mumbai-based brokerage firm, who didn’t want to be named. He says prices may correct further as new supplies hit the market.

      Mr Sankhe of Centrum believes the scope for price correction in low-price segment is limited, but high-end homes can still see property prices drop at least 10%. Some developers such as HDIL and privately held Lodha developers have claimed that prices have already started firming up in Mumbai. But analysts as well as some developers, including DLF and Unitech, say price hike would hit demand and not be good for the sector at this stage.
      If you are happy, you are successful.

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      • Re : Pune Property Rates Will be Down by Diwali

        Rentals Nosedive

        http://economictimes.indiatimes.com/...ow/4865751.cms

        Fund raising by realty-focused PEs slows, slumps 72 pc in Q2:-

        http://economictimes.indiatimes.com/...ow/4859966.cms

        Recession's positive effects on Indian realty sector:-

        http://economictimes.indiatimes.com/...ow/4865766.cms

        Jet looks to cut 2,000 jobs in phases:-

        http://economictimes.indiatimes.com/...ow/4861234.cms
        Last edited by realacres; August 7 2009, 09:06 PM. Reason: added link.
        If you are happy, you are successful.

        Comment


        • Re : Pune Property Rates Will be Down by Diwali

          Down & Down

          If rentals r down : the sale prices also should follow

          But Pune bldrs r immune to eco fundamentals

          Siing the situation

          Methinks:

          The RE space is going to stagnate for some more time

          Its going to continue to I/II qtr next yr, before u see some sales in noticeable numbers.

          The June spurt was due to election effect.

          Bldrs have foolishly raised some prices driving away more customers than

          achieving sales.

          Know some people who have finally given up and wait for sanity.

          Some r now concentrating on saving and building own house.

          Personally i m fatigued by the Bull crap told in RE.

          Comment


          • Re : Pune Property Rates Will be Down by Diwali

            Today's Indian express has an interesting article on real estate.
            • Pune leads the country in demand vs supply gap. Too many empty flats no buyers. Bombay follows pune.
            • More than 60% projects delayed and average delay of 8 months.
            • Real estate gurus warning against price rise which would kill slight recovery in market.

            Comment


            • Re : Pune Property Rates Will be Down by Diwali

              Info

              Ya nice articles.

              Sakal also carries nice articles and problem solving box.

              TOI is just pure crap and ADs paper on saturday.

              Comment


              • Re : Pune Property Rates Will be Down by Diwali

                Have you ever think why pune leads in demand vs supply gap???

                1. Pune Builders are most arrogant lot...
                2. Price reduction is least in Pune.
                3. Flat availability told by them is always 3-4 flat in entire project (even if they have 100s of flat unsold, this reduce options for genuine buyer & that keep buyer away from their project).
                4. They change their rates like "Aalu-pyaaj" like if you go on saturday & if u call up mondy then most likely you will get a different rate...

                5.Last but not least I found Pune's builder most unethical (no transparency in anything) thats also reason some genuine buyer (like me) afraid to deal with them


                so, if Anybody from the builder is reading this then they should improve on these points, then only I think sale will increase otherwise "KEPP DREAMING"




                Originally posted by akssenti View Post
                Today's Indian express has an interesting article on real estate.
                • Pune leads the country in demand vs supply gap. Too many empty flats no buyers. Bombay follows pune.
                • More than 60% projects delayed and average delay of 8 months.
                • Real estate gurus warning against price rise which would kill slight recovery in market.
                Last edited by ash7979; August 8 2009, 11:44 AM.
                Cheers,
                -Ashish

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                • Re : Pune Property Rates Will be Down by Diwali

                  Hello Ashsih,
                  the above points may be true for many builders, but i have a diff say on tht. recently i confirmed a unit at pethakars samrajya in kothrud. since day one i had got a proper service. i liked their systematic approach towards sales. also as reg transperancy they hd informed me abt all aspects of the sale including the indemnity bond for vat (which i think many builders r not disclosing at the start and make it mandatory at the end).
                  if u hd a chance to go to kothrud do visit their site ans sales office.

                  sam....

                  Comment


                  • Re : Pune Property Rates Will be Down by Diwali

                    Backing

                    Pune bldrs have better finance options available. Hence held out for this long.

                    Also education sector is immune to recession and generates huge monies.

                    Bldrs r used to dictating terms to their customers. So i for one was impressed by Mr Sanjay , mktg exec of Ozone Villas at Wagholi.

                    Now if i go, i do dictate terms to resalers/investors/bldrs.

                    If ever it does not work out for me, i would go the way of my friends.

                    Build own house and have that satisfaction.

                    Comment


                    • Re : Pune Property Rates Will be Down by Diwali

                      Investors may have lost one-third investment in real estate

                      http://www.dnaindia.com/money/report...estate_1280529
                      If you are happy, you are successful.

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