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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  • 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.


    way back in mid 2009, it was the only major scheme going on around this area.. but now many good projects are coming in vicinity (and far off even)... lake district, tata's project, Kumar builders are planning to start one there...


    If the DP does come into existent & the locality develops by the time the project completes


    abt DP roads, we cannot really predict.. its all politics and vote-bank thing.. but i will give a candid view looking at the locality... i really dont think it will develop the time project completes... wud still take minimum 1-1.5 years for a proper decent liveable locality.
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  • This bear market is of Supercycle degree

    So if not this Diwali maybe next ..to next ...to next ....

    But definitely there will be more opportunities in Future.....

    As earlier it was never predicted(last 30 yrs) that US market will fall 90%.
    Or Euro will collapse ...
    Why to be fool in a 'Fool country'(among the countries there are smart countries... analogous to a person ) ....



    Smoke without fire ..... many are moving to cash ...

    "This bear market is of Supercycle degree, the biggest since 1720-1784. It should therefore include a decline deeper that the 89% decline of 1929-1932. A decline of 91.5% or more would carry it below 1,000."

    http://finance.yahoo.com/banking-budgeting/article/109841/elliot-wave-predicts-triple-digit-dow-in-2016

    Is worse yet to come ??? may be I am day dreaming
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  • Originally Posted by frugality


    Is worse yet to come ???


    Question is how long can we wait for worst to come? And once worst is there then to wait till worst is over!!! And when worst is over there would be fear of another worst on the way!

    If you (read it as we) are investing, it is fine to wait as you are not loosing. But, if you want your home then you have to quantify if wait is worthwhile or buying is. I've realised it in hard way that to have a home, we have to take little risk!

    Cheers,
    Manish
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  • I think that rates are bound to go down as suggested by experts on this forum. Today I visited Megapolis and they are offering rates 2500/2550/2800/3000 for their project. Few week back it was down to 2300/2400. Its good to see that due to less response these builders have to decrease the rates.. May be in other area same thing starts happening... Area like PS,Baner, Balewadi etc are now a days out of reach of the buyers... If we distance ourselves from visiting these so called premium projects, miracle can be seen in terms of prices.
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  • Originally Posted by sans_re
    I think that rates are bound to go down as suggested by experts on this forum. Today I visited Megapolis and they are offering rates 2500/2550/2800/3000 for their project. Few week back it was down to 2300/2400. Its good to see that due to less response these builders have to decrease the rates..


    From 2300-2400 few weeks back to 2500-3000 today is decrease or increase??

    Do you want to suggest something else or have you typed it the other way round sans_re?

    Anyways, has anyone else seen this trend of reduced rates in any other projects?
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  • Its the correct way. Megpolis was opened with rate of 3200.. Few weeks back rates were down to 2300-2400. Today I visited and they are now quoting 2500/2550. I asked the reason.. got the expected answer.. "we are doing good so rates are increased"...

    may be he was true.. as peoples must have booked for 2400 in megapolis like project. Main point is price drop .. from 3200+ to 2400+....
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  • Guys,

    From 3200 to 2400 is like reducing 25% ? You can really calculate the margins if the builders can reduce and increase rates like ALLU-KANDA...

    I really believe megapolis price point should be around 1500-1800, and the cost price should be around 1000 Rs per sq feet for such a large project....

    Hence, hold on to see things unfold, picture abhi bakki hain mere dost....
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  • Originally Posted by manish_sharma24
    Question is how long can we wait for worst to come? And once worst is there then to wait till worst is over!!! And when worst is over there would be fear of another worst on the way!

    If you (read it as we) are investing, it is fine to wait as you are not loosing. But, if you want your home then you have to quantify if wait is worthwhile or buying is. I've realised it in hard way that to have a home, we have to take little risk!

    Cheers,
    Manish



    Yes you have to take a little risk but do not take it with 90% home loan. Save money and they go for right opportunity. with loan amount 50 to 60 % so even there is worst you can pay EMI till worst is over.
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  • Originally Posted by pcpune
    Guys,

    From 3200 to 2400 is like reducing 25% ? You can really calculate the margins if the builders can reduce and increase rates like ALLU-KANDA...

    I really believe megapolis price point should be around 1500-1800, and the cost price should be around 1000 Rs per sq feet for such a large project....

    Hence, hold on to see things unfold, picture abhi bakki hain mere dost....


    Megapolis has actually two kind of offergs. Premium flats at rate of 3200 and budget flats in range of 2400. Initially all flats in Megapolis were supposed to be premium ones. However with the economic slump, they cancelled few wings of premium flats and palnned budget flats in that place. So there was a impression that prices have fallen from 3200 to 2400. Even if you go to book premium flats in Megapolis, the price still is 3200 +. The budget flats have gone from 2250 (at start of slump) to 2600.
    Posting this so that genuine buyers do not get mislead by such skewed facts quoted to support big fall in price.
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  • Originally Posted by compuwalah
    Megapolis has actually two kind of offergs. Premium flats at rate of 3200 and budget flats in range of 2400. Initially all flats in Megapolis were supposed to be premium ones. However with the economic slump, they cancelled few wings of premium flats and palnned budget flats in that place. So there was a impression that prices have fallen from 3200 to 2400. Even if you go to book premium flats in Megapolis, the price still is 3200 +. The budget flats have gone from 2250 (at start of slump) to 2600.
    Posting this so that genuine buyers do not get mislead by such skewed facts quoted to support big fall in price.


    So called premium flats were available 2800. Also premium means only large areas nothing more than that.
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  • Hi friends,

    I was just going through various remarks. Few are predicting Diwali. Few are waiting for Diwali, few are mentioning that Picture to abhi baaki hai....
    I am also waiting for Diwali.
    I still feel the demand for budget homes (15 to 25 lakh) is going to increase.
    I really don't see any drop in this category.

    Kahi aisa na ho jaye ki hum Gabbar ki tarah sirf puchate rahenge" Kub hai Holi??" and miss the bus(as well as holi).

    Market is already on a upward trend.:)
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  • I m no expert, but with experience in the last one year of home search I can mentioned that if you want to purchase it for own use, then look for projects in good areas, try to negotiate upto some level like 200-300 rs per sqft and go for flat.

    Pune RE may see up and downs but waiting for these to happen you might end up not getting flat of your choice (Area, Floor, Neary by surroundings). Each time you have to look towards outskirt areas... May be Hinjewadi, Talegaon, Dehu Road... (Navi Pune).

    Only problem with outskirt area is development of school, hospitals, good shopping complexes, railway stations. etc.. Think about hospital as a case.. Jahangeer, Ruby, Sancheti, Deena Nath, Ratna, Aditya Birla, Kotbagi, Medipoint..

    Area like Wakad, Wakad Annexe, Hinjewadi other outskirts lack in medical services and will be behind to Aundh,Baner etc..

    Living in outskirts is also a way of compromising your living style.
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  • Lame attempt to create FUD amongst buyers (Fear, Uncertainty, Doubt)
    Builders are doing this for years, and I think those who have found this forum, are intelligent enough to understand this.

    Originally Posted by Prasaddeshpande
    Hi friends,

    I was just going through various remarks. Few are predicting Diwali. Few are waiting for Diwali, few are mentioning that Picture to abhi baaki hai....
    I am also waiting for Diwali.
    I still feel the demand for budget homes (15 to 25 lakh) is going to increase.
    I really don't see any drop in this category.

    Kahi aisa na ho jaye ki hum Gabbar ki tarah sirf puchate rahenge" Kub hai Holi??" and miss the bus(as well as holi).

    Market is already on a upward trend.:)
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  • Originally Posted by Prasaddeshpande
    Hi friends,

    I was just going through various remarks. Few are predicting Diwali. Few are waiting for Diwali, few are mentioning that Picture to abhi baaki hai....
    I am also waiting for Diwali.
    I still feel the demand for budget homes (15 to 25 lakh) is going to increase.
    I really don't see any drop in this category.

    Kahi aisa na ho jaye ki hum Gabbar ki tarah sirf puchate rahenge" Kub hai Holi??" and miss the bus(as well as holi).

    Market is already on a upward trend.:)

    Prasad : The wait dictum was for last Diwali and not this one...and the rates took the reverse gear (Upward!!) ..i hope this Diwali also doesn't fire some rocket in prices again
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  • Originally Posted by sans_re
    I m no expert, but with experience in the last one year of home search I can mentioned that if you want to purchase it for own use, then look for projects in good areas, try to negotiate upto some level like 200-300 rs per sqft and go for flat.



    well no one is expert here. But I would always maintain, even for end use, make sure you pay the right price for what you buy. If nothing is available today, then dont buy even for end use.

    200-300 discount on what base price? that should matter. Dont Ignore it and be happy with 10% discount the builder offers.
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