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 RAJESHP
    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.


    Ignore the agents, man; some times ignorance is a bliss :D

    ohh well, I didn't noticed the title of your post...we are on the same page :)
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  • Originally Posted by monds
    Ignore the agents, man; some times ignorance is a bliss :D

    ohh well, I didn't noticed the title of your post...we are on the same page :)



    This realbee is our old friend ShirishTiwari01. He is not a agent, but invested in multiple flats in Pune.:bab (34):
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  • Originally Posted by saggii

    Jo sochta hai woh sochta hi rehjayega


    I second that. We did not buy when Kalpataru offered 2300-2400 psf and waited for the prices to dip further. See what happened. People did book and the phase 3 bookings are going great..

    I would say search for the projects offering below 2600 psf levels. If you feel that the location and other important aspects are fine with you, then go ahead, make your calculations and book..

    I dont see prices coming near to 2400 psf levels in good areas in Pune for a long time now..
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  • On this thread, a movie can be made -

    Yeh Diwaali kab aayegi
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  • ^^ Yeh Diwali 2008 mein aayi thee :)
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  • Originally Posted by puser
    On this thread, a movie can be made -

    Yeh Diwaali kab aayegi


    That reminds me of Javed Akhtar who once wrote, “Kyon dare zindagi main kya hoga, kuch na hoga to tajurba hoga…”

    VK
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  • Originally Posted by m_square
    ^^ Yeh Diwali 2008 mein aayi thee :)


    As I said earlier, people are being too optimistic too soon here. I think we will have to wait for another couple of years for the prices to go down or stay stable and then go down...to predict whether it will go down this Diwali or no is a Nostradamas's guess...

    As Warren Buffet says - It is easier to predict WHAT will happen than WHEN will happen --- so I predict the market to remain stable with a small long term downtrend in the next couple of years - with few ups and downs during the term.

    Generally seen during Diwali & March , there is a small uptick - July-August a small down tick... however THESE ARE NOT MILESTONES AND NEITHER WAS THE ONE (SMALLTICK) IN 2008.

    PICTURE ABHI BAKI HAIN MERE DOST!!!!!!!!
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  • Just last week he admitted he could not see subprime crisis (WHAT) happening

    So sometimes gurus also dont know 'WHAT' forget 'WHEN'
    Originally Posted by pcpune

    As Warren Buffet says - It is easier to predict WHAT will happen than WHEN will happen ---
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  • It is difficult to predict when the markets will move.. Rates are high.. no doubt.. and there is a general perception that it should correct.. it may or may not grow.. when is impossible to predict..
    High rates pcokets will be there, but the distress is there is no option for a medium budget..
    Do banks have any regulation not to give loans to people already owing homes or having another housing loans..
    I think we as Indians still believe property and are the best investments and do not understand others..
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  • Originally Posted by Manoos
    Just last week he admitted he could not see subprime crisis (WHAT) happening

    So sometimes gurus also dont know 'WHAT' forget 'WHEN'


    Manoos,

    I did "probably" predict things happenining in the next couple of years but where did I give a timeline-Diwali,or December....Nobody can do that...It is only a "guess" WHEN things happen....

    I dont think you can get my messge....so no point explaining....I have always said - PAITIENCE PAYS RICH DIVIDENDS...but due to emotional and peer stress, for RE , people GET IMPATIENT.

    Dont understand why they dont get impatient to buy a term insuramce, a medical insurance, some good stocks...and "happiness" and enjoyment for life....
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  • Originally Posted by pcpune
    for RE , people GET IMPATIENT.
    Dont understand why they dont get impatient to buy a term insuramce, a medical insurance, some good stocks...and "happiness" and enjoyment for life....


    Right said pcpune. It is only family/peer pressure.
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  • Hey i was referring to Warren Buffet and not you ! relax :D
    Originally Posted by pcpune
    Manoos,

    I did "probably" predict things happenining in the next couple of years but where did I give a timeline-Diwali,or December....Nobody can do that...It is only a "guess" WHEN things happen....

    I dont think you can get my messge....so no point explaining....I have always said - PAITIENCE PAYS RICH DIVIDENDS...but due to emotional and peer stress, for RE , people GET IMPATIENT.

    Dont understand why they dont get impatient to buy a term insuramce, a medical insurance, some good stocks...and "happiness" and enjoyment for life....
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  • Originally Posted by m_square
    I second that. We did not buy when Kalpataru offered 2300-2400 psf and waited for the prices to dip further. See what happened. People did book and the phase 3 bookings are going great..

    I would say search for the projects offering below 2600 psf levels. If you feel that the location and other important aspects are fine with you, then go ahead, make your calculations and book..

    I dont see prices coming near to 2400 psf levels in good areas in Pune for a long time now..

    Why didn't you buy? It was because even you felt that the rates are no good.

    But hey, Katraj-Kondhwa is good area?? :D
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  • Originally Posted by realacres
    Why didn't you buy? It was because even you felt that the rates are no good.

    But hey, Katraj-Kondhwa is good area?? :D


    i didnt buy at Kalpataru coz i dont have the capacity to stretch around 40 lakhs.. :)

    if you are talking precisely abt the location of Ackruti countrywoods, then, if you visit the place, you'll find that its clearly "out" of the kondhwa area (which u detest)...

    i dont know whether Katraj-kondhwa is a good area.. seriously.. but they were offering something which was in my budget, which i cud afford... and after weighing all the merits and demerits, I made the decision.. hoping that may be this area would be considered "in" pune after 2-3 years.. :)
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  • Originally Posted by m_square
    if you are talking precisely abt the location of Ackruti countrywoods, then, if you visit the place, you'll find that its clearly "out" of the kondhwa area (which u detest)...

    Looks everyone now knows that I hate Kondhwa. Yep, it is away from Kondhwa but the issue is of infra, especially when this is the only major scheme going on in this particular area. No doubt that the rates are much lower than rest of the east side at Katraj or Kondhwa but as said before, I would stay away from PROPOSED things while buying for self use.

    i dont know whether Katraj-kondhwa is a good area.. seriously.. but they were offering something which was in my budget, which i cud afford... and after weighing all the merits and demerits, I made the decision.. hoping that may be this area would be considered "in" pune after 2-3 years.. :)

    The Pune builders have hyped the rates tooooo far & this is admitted by the builders themselves to me in private. However, such schemes are indeed welcome step as it gives the buyer additional options for house. To an extent, this may also put pressure on nearby areas where rates are quite high vis-a-vis that area. Seen cases where rates differ by almost INR 800-1000/sq ft by distance of hardly 1-1.5km. The reason for people shifting to outskirts was not lack of land but steep prices in central areas which was ofcourse manipulated like any other part.

    If the DP does come into existent & the locality develops by the time the project completes, you would have made good decision, no doubt. For me though, it is a bit different story.

    Congrats once again for the house purchase & do keep us updated for the same:).
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