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 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.

    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.

    Even Baner/Balewadi don't have any good hospital but property rate is still high since people see good cemented road(still not complete) and few malls around :D even drainage system goes to toss in heavy rains.There is no point to pay such high rate of 3500psf, even underconstruction property where proper road is not there asking for 3200psf. I request all peoples not to look overprised property. We should not pay beyond 2600psf in baner. Goverment is developing infrastructure and builders are taking advantage of it by increasing their property rate. If there would be less demand then rate will automatically come down.
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  • Selling Crap as Diamond

    Originally Posted by pnb_2k
    Even Baner/Balewadi don't have any good hospital but property rate is still high since people see good cemented road(still not complete) and few malls around :D even drainage system goes to toss in heavy rains.There is no point to pay such high rate of 3500psf, even underconstruction property where proper road is not there asking for 3200psf. I request all peoples not to look overprised property. We should not pay beyond 2600psf in baner. Goverment is developing infrastructure and builders are taking advantage of it by increasing their property rate. If there would be less demand then rate will automatically come down.


    true builders are cashing in the Euphoria of naive young generation .....
    there are far better developed places in India itself ..... if the way they are developed .... they must be costing at 8000 - 12000 Rs psf ....(Not land but apartment).
    Chandigarh
    Noida
    Greater Noida(Similar to Baner distance wise from City Center and Infra wise Baner is at not even the Half of GN)
    Noida
    PanchKula

    Why there rates are reasonable there ???and here ..... almost equal to US,UK.:D

    These are some of the Pics of Chandigarh .....

    PMC and PBAP should all visit Chandigarh once if not Forien
    http://www.panoramio.com/photo/11394619
    See how the places are developed .... and flight cost is 7k only....
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  • Now, the new project in the Noida extension is launched with 1800 rates and builders are Unitech, Omaxe, JP and Gaur etc. But in Pune still new projects are launched with 3500 :) and people are booking it.
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  • Originally Posted by Saurabh01
    Now, the new project in the Noida extension is launched with 1800 rates and builders are Unitech, Omaxe, JP and Gaur etc. But in Pune still new projects are launched with 3500 and people are booking it.


    From my experience, most of recent-buyers in Pune suffer from scarcity syndrome (Mumbai-kars).
    Some feel that they missed the bus in 2004. All lack financial knowledge and has money/leverage to smoke.
    Hence buying at absurd rates.

    The positive is that there is ample supply of new flats and low rents. Which is good for me :)
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  • World Upside down

    Originally Posted by frugality
    true builders are cashing in the Euphoria of naive young generation .....
    there are far better developed places in India itself ..... if the way they are developed .... they must be costing at 8000 - 12000 Rs psf ....(Not land but apartment).
    Chandigarh
    Noida
    Greater Noida(Similar to Baner distance wise from City Center and Infra wise Baner is at not even the Half of GN)
    Noida
    PanchKula

    Why there rates are reasonable there ???and here ..... almost equal to US,UK.:D

    These are some of the Pics of Chandigarh .....

    PMC and PBAP should all visit Chandigarh once if not Forien
    http://www.panoramio.com/photo/11394619
    See how the places are developed .... and flight cost is 7k only....



    First Infra is developed ....
    Take the case of Noida and GN first Town planning happens then ... Roads ,Street light ,Sewage etc etc are built then buyers are invited .....


    Here first Money is taken from buyers ..... then Aptmt. built ..... then comes the infra ......

    And Planning ... thats for taking Bribe the Govt way ....PMC notice .... Boss we planned Road here long back so now we need to demolish ...
    want to save you house ... pay XX lakhs...

    And the above places(N & GN) have higher prices for lower floors Gnd Highest , 1 high so on ...!!!!!!! ....:bab (59):

    Seems Pune concept for 'per floor rise' came from Mumbai....
    minus 'the Sea'....
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  • It just points to one thing - property bubble in Pune. No one wants to live in the flats..just buy it for appreciation...

    Somebody needs to publish a recent data of "flats available for rent" in Pune against the total demand...Only then we would realize whats happening in Pune.
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  • Originally Posted by frugality
    And the above places(N & GN) have higher prices for lower floors Gnd Highest , 1 high so on ...!!!!!!!

    Thanks for this. This is some news for me:).

    Seems Pune concept for 'per floor rise' came from Mumbai....
    minus 'the Sea'....

    Correct. Add to it that Mumbai buildings are true highrises (25 floors+) & in Pune, one pays floor rise even for 9-11 storied building:D.
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  • Originally Posted by realacres
    Thanks for this. This is some news for me:).


    Correct. Add to it that Mumbai buildings are true highrises (25 floors+) & in Pune, one pays floor rise even for 9-11 storied building:D.


    i have started kindof hating pune's infra n over all devlopment is damn f** so the politicians involved needs to b under scanner then will the issues like metro rail will b skiped to save their own asses...Than to screw publics...Most pathetic view i had few days back that mr.Vinayak nimhans son aka sunny build his office on SB road n the most wierred view was that the property was build on some nullah n even the street light was made to change the direction towards office than on road...These scoundrals have took the civic work on toss n complete corruption is on its peak in pune...In short i will definitely wait until the confidence of city devlopment is in strong support to my decision to buy in pune till then RENT...:-)
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  • Originally Posted by mayurk
    These scoundrals have took the civic work on toss n complete corruption is on its peak in pune...In short i will definitely wait until the confidence of city devlopment is in strong support to my decision to buy in pune till then RENT...:-)


    I am not sure when or ever general people will gain confidence on government. So always buy ready posession and better resale property, where you get to see the actual infr/water situation and all.

    No buying under construction and based on DP.

    When the sanity in prices return, buy a re-sale property, till then rent.
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  • Originally Posted by Saurabh01
    Now, the new project in the Noida extension is launched with 1800 rates and builders are Unitech, Omaxe, JP and Gaur etc. But in Pune still new projects are launched with 3500 :) and people are booking it.


    You may want to dig deeper to understand the pricing structure in NCR housing. They have add-ons in terms of p.s.f for everything like amenities, floor rise and literally everything that you would come to expect in a house. So it ain't cheap the way one would read it when when reading the base p.s.f rate. The 1800 will very happily become 2600-2700 even before you know it. And then you are talking of Noida extension ... trust me, try traveling to Sec-80 at Noida and you will be lucky to get there using a public transport.
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  • yes the 1800 rates are for the noida extension and then there are other charges.

    Although with metro connectivity is improving
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  • Originally Posted by pcpune
    It just points to one thing - property bubble in Pune. No one wants to live in the flats..just buy it for appreciation...

    Somebody needs to publish a recent data of "flats available for rent" in Pune against the total demand...Only then we would realize whats happening in Pune.

    Pune's property market got the thrust due to IT and ITES services. As long as IT people will pay overprised rates and buy the property, it is difficult to control the rate. Anyway our work is to educate people and that we'll do.
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  • Originally Posted by rishitiwari
    You may want to dig deeper to understand the pricing structure in NCR housing. They have add-ons in terms of p.s.f for everything like amenities, floor rise and literally everything that you would come to expect in a house. So it ain't cheap the way one would read it when when reading the base p.s.f rate. The 1800 will very happily become 2600-2700 even before you know it. And then you are talking of Noida extension ... trust me, try traveling to Sec-80 at Noida and you will be lucky to get there using a public transport.


    I know the NCR and Noida, few months back they sold 2400- 2600 includes the every thing ( registration etc.) and even in Noida and know few person who booked in those projects. They always offer the deal for companies which is rare in Pune. Only the broker giving the offer in Pune and not initiated by the builders.
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  • http://economictimes.indiatimes.com/news/international-business/We-are-now-in-the-early-stages-of-a-third-depression-Paul-Krugman/articleshow/6101667.cms

    A fool called Paul Krugman ;)
    by accident he got a nobel .... ;)



    "We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost – to the world economy and, above all, to the millions of lives blighted by the absence of jobs – will nonetheless be immense."

    What a Joke :)
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  • Originally Posted by frugality
    http://economictimes.indiatimes.com/news/international-business/We-are-now-in-the-early-stages-of-a-third-depression-Paul-Krugman/articleshow/6101667.cms

    A fool called Paul Krugman ;)
    by accident he got a nobel .... ;)



    "We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost – to the world economy and, above all, to the millions of lives blighted by the absence of jobs – will nonetheless be immense."

    What a Joke :)

    I thought I am insulting him .....

    So either he is incorrect and he is fool according to the fool theory

    or we are incorrect and fools :)
    Time will tell

    By the way he is a regular Columnist on Indian Express NYT section

    http://www.indianexpress.com/news/towards-the-next-depression/639590/0
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