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 Nitin_P
    So called "Buy your dream house at double discount this Diwali"

    Buy your dream house at double discount this Diwali | ETNow.tv


    dream house remains a "dream" in pune real estate market
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  • I am afraid investing FD in your wife's name would not save you tax.
    The income from FD from your wife's account would be counted as your's according to Clubbing of Incomes rules of IT
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  • Per bank if the interest on FD goes above 10K in a year TDS is cut.


    Originally Posted by AJAY_GGN
    I am afraid investing FD in your wife's name would not save you tax.
    The income from FD from your wife's account would be counted as your's according to Clubbing of Incomes rules of IT
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  • Originally Posted by Manoos
    Per bank if the interest on FD goes above 10K in a year TDS is cut.

    Its not 10K but 12K. Fill form 15H, so bank will not decsuct the TDS but you are liable to pay.
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  • Originally Posted by Manoos
    Per bank if the interest on FD goes above 10K in a year TDS is cut.


    Suppose A donates money to his spouse B and makes FD in name of B then
    in any case the income from FD will be clubbed with the income of the donor(A) as follows.

    (1)If the interest income is less then 10000 TDS is not deducted, the interest income is added to the existing income of the donor.

    (2)If TDS is deducted 10 % then excess tax has to be paid depending in what tax bracket donor lies.
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  • Originally Posted by BlotJab
    I think, investing 80% of your money in FD and 20% in Mutual fund is the best option in today's dynamic market conditions. See, even banks are not sure to grow their money (or make profit) by 8-9% every year, though they are giving you 9.5%(soon it will be 10%) return on FD. I don't know, whether there will be any investor in the world today who can guarantee to get 10% or more return in any of available investment options (like gold, real estate, stocks etc.) in current market conditions (I think in this decade 2011-2020).

    The best way to invest money is to create one FD account for the name of any of your non earning family member (so that you can save 30% tax). I know people, who happen to invest in Real estate despite knowing the fact that their investment of 50L today will give them only 40L (20% loss) after 3-4 years, but the only reason they are investing that they have surplus money to handle (that too black money) and they will still be satisfied with 20% loss, because if they don't invest now, either their sons and daughters will spend those money on luxury things or some relatives may come to borrow that amount.

    12L in FD can give you around 10,000 Rs/Month tax free return, and that may be sufficient to get 2BHK on rent in outskirts of Pune. Or you can buy the same flat by giving 12L as initial amount and remaining 30-35L as loan, which you will end up paying more than 1 Cr Rs (and forget the loss of return which you would have made on your 12L initial amount over the years). Choice is yours, you can decide, what you want.

    +1. I would rather say 90% FD & 10% gold in form of SIP (Buy some physical gold every month).

    Btw, few months down the line, this investment will turn into purchase as this gold will be converted into jewelry :D. But its OK :).
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  • To turn back to the topic this Diwali has passed with no price corrections.
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  • Originally Posted by compuwalah
    To turn back to the topic this Diwali has passed with no price corrections.



    It was for next diwali, then surely.......:D
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  • Originally Posted by vatsalbajpai
    It was for next diwali, then surely.......:D


    and more Diwali's in future until 2099 :bab (59): I hope one can survive till than after all scientist are making all their efforts to construct a pill to live you past 100yrs :bab (50): :bab (48):
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  • Originally Posted by eloish
    and more Diwali's in future until 2099 :bab (59): I hope one can survive till than after all scientist are making all their efforts to construct a pill to live you past 100yrs :bab (50): :bab (48):



    Yes the pill will work only if you stop drinking....
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  • Originally Posted by vatsalbajpai
    Yes the pill will work only if you stop drinking....


    you got it buddy :bab (6):
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  • Only God & Pune builders know, how many Diwalis have to pass to see some price correction. :D
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  • Originally Posted by frugality


    US housing has more way down
    -US states have no money....
    Their spending will reduce.....
    “The states are facing a protracted budget crisis, like none seen in the last 30 years and perhaps not seen since the Great Depression… This raises the specter of a ‘lost decade’ for states.”
    http://www.nga.org/Files/pdf/1002STA...TRECESSION.PDF

    -UK Budget cuts ....Results will follow in few Quarters
    -US Bank Closure yet to Peak 83 so far...
    -Stimulus package not yet removed........ for India and for US .... things will twist after that...
    -China Market is low...
    -Euro slow growth is for granted if not Recession ......
    -Pune RE prices are competing with the Rest of World(at peak).

    Now what positive growth
    Things have started happening
    -US states have no money....
    Illinois
    http://www.nytimes.com/2010/07/03/business/economy/03illinois.html?_r=4&pagewanted=1&ei=5065&partner=MYWAY
    California
    http://finance.yahoo.com/news/Calif-state-workers-brace-for-apf-1034411212.html?x=0&sec=topStories&pos=4&asset=&ccode=


    -US Bank Closure yet to Peak 83 so far...(Two week back 5 more banks)
    Ideal Federal Savings Bank fails, 88th of 2010 ... its July 10th still

    Expect lots of government layoffs at state, local level ... actual current unemployment is dreaded at 19 % this is likely to increase in 2011
    Expect lots of government layoffs at state, local level - USATODAY.com



    California is tightening faster than Greece. State workers have seen a 14pc fall in earnings this year due to forced furloughs. Governor Arnold Schwarzenegger is cutting pay for 200,000 state workers to the minimum wage of $7.25 an hour to cover his $19bn (£15bn) deficit.
    Can Illinois be far behind? The state has a deficit of $12bn and is $5bn in arrears to schools, nursing homes, child care centres, and prisons. "It is getting worse every single day," said state comptroller Daniel Hynes. "We are not paying bills for absolutely essential services. That is obscene."
    Roughly a million Americans have dropped out of the jobs market altogether over the past two months. That is the only reason why the headline unemployment rate is not exploding to a post-war high.
    Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.
    The share of the US working-age population with jobs in June actually fell from 58.7pc to 58.5pc. This is the real stress indicator. The ratio was 63pc three years ago. Eight million jobs have been lost.
    The average time needed to find a job has risen to a record 35.2 weeks. Nothing like this has been seen before in the post-war era. Jeff Weniger, of Harris Private Bank, said this compares with a peak of 21.2 weeks in the Volcker recession of the early 1980s.

    With the US trapped in depression, this really is starting to feel like 1932 - Telegraph

    So now we have three Stars contestants for Slowdown. US , EURO and China..... and braving them is India ;)


    From this post of Jul 2010, what all this has to do with RE rates in India ?
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  • Teen saal guzar gaye, akhir yeh DIWALI kab aayegi...!:(

    ..
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  • Hypothetical Diwali - Only in dreams

    Diwali's are coming n going making the builders prosperous. Buyers who bought or looking for are loosing prosperity. a diwali prosperous for everybody is simply hypothetical which can only be dreamt.

    Go to bed guys for such a prosperous diwali. :)
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