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 kingsmead
    who the hell cares from whre the demand is..the general rule in any business is demand and supply..when there is more demand than supply..prices will tend to increase and vice versa and in fact as you might be noticing are increasing consistently in pune..the point which i was making is there is more than enough demand for RE from all sectors and not just by IT..

    my friend if there is not enough demand for RE..do you think the prices would have increased at this level..they have increased at this because of what??? can you answer this 1..


    just check only on Baner Road, many commercial buildings are ready for rent and still unoccupied . Now there is not a single company which expanding there work force. I do remember in 2007-2208 every companies was growing their workforce by 15-20% which created a lot demand in the market. They were hiring people at any cost. Now scenario got changed, everyone trying to save their job.
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  • Originally Posted by Saurabh01
    just check only on Baner Road, many commercial buildings are ready for rent and still unoccupied . Now there is not a single company which expanding there work force. I do remember in 2007-2208 every companies was growing their workforce by 15-20% which created a lot demand in the market. They were hiring people at any cost. Now scenario got changed, everyone trying to save their job.



    this thread is "pune property prices will be down this diwali"..from last 2 yrs its being running..we all know how badly the prices have dropped.. ;-)

    i'm not sure which diwali the thread owner is dreamin about..i think its time now to close this thread or at least change the subject name of this thread..it is not at all looking relevant..

    whether the demand is real or unreal, wats the story today..from today's prices it looks like demand is there..and lets accept it..instead of getting too much technical about it..real/unreal ke bare me jaada mat socho..

    if at all that diwali comes in future..believe me all RE market in country will suffer not just pune..

    there may happen a 5-10% correction here and there..but that you should not call prices dropping..

    let's assume 10% correction happen in baner..consider current rate as 5k..10% correction means rates wud come down to 4500, what wud that make difference to many??

    the kind of price drop which people assue wud happen is 30-40% and some braveheart says 50%..that means baner prices wud come down at around - 2.5 k to 3.5k range..arre kya majaak hai kya..today just search in wagholi if there is any builder who is offering below 3k rate..stop day dreaming man and accept the reality..

    you please check the property prices at baner road..and let me know if anybody's selling at 3.5k to 4k today..and here we are discussing residential property prices and not commercial ones..and man why you just looking into IT guys..there are lot of people from non-IT sector that are purchasing properties today..

    my bro..purchased 3 bhk flat at baner in 2k9..3 yrs back..believe me just check old threads..some so called senior people mentioned that BANER - NOT EVEN WORTH FOR 2500..at that time..why waste your money in that crap location..

    instead he booked flat at 2900 in august 2k9, got posession in feb 2k11 and staying at his flat since last 1.5 yrs..total cost including 2 parkings was 50L for 3 bhk 1425 sq.ft. flat..now a very happy man for himself and about the decision he took at that time and not listening to so called senior guys advise here..

    in fact honestly he also never imagined that property prices wud rise so steep so quickly..

    see these prices just indicate 1 thing demand is there..if you have money n courage get into RE..instead stay on rent forever..simple logic..
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  • Originally Posted by Saurabh01
    just check only on Baner Road, many commercial buildings are ready for rent and still unoccupied.



    even EON IT park Kharadi proved to be a dud after some years.
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  • Originally Posted by kingsmead
    this thread is "pune property prices will be down this diwali"..from last 2 yrs its being running..we all know how badly the prices have dropped.. ;-)

    my bro..purchased 3 bhk flat at baner in 2k9..3 yrs back..believe me just check old threads..some so called senior people mentioned that BANER - NOT EVEN WORTH FOR 2500..at that time..why waste your money in that crap location..


    in fact honestly he also never imagined that property prices wud rise so steep so quickly..

    see these prices just indicate 1 thing demand is there..if you have money n courage get into RE..instead stay on rent forever..simple logic..


    I am talking about the current scenario, 2009 was the best time to buy a property and certainly i would not west my 55 lacs to buy a 2 BHK (1000 sqf) flat to only save my 12K rent. Commercial and residential all are correlated things. If there would be money to spend then there would be boom in commercial market also. At end money govern everything which currently not flowing in the market.
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  • Originally Posted by Saurabh01
    I am talking about the current scenario, 2009 was the best time to buy a property and certainly i would not west my 55 lacs to buy a 2 BHK (1000 sqf) flat to only save my 12K rent. Commercial and residential all are correlated things. If there would be money to spend then there would be boom in commercial market also. At end money govern everything which currently not flowing in the market.



    Kitna bhi chillao bhai...RE ke price kam hone wale nahi.

    Lage raho munnabhai.;)
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  • Originally Posted by gandabaccha
    Kitna bhi chillao bhai...RE ke price kam hone wale nahi.

    Lage raho munnabhai.;)

    Bhai, maine kab bola ki price niche aane wale hain...
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  • Pune office market absorption down nearly 24% from a year ago: Knight Frank report

    Originally Posted by Saurabh01
    just check only on Baner Road, many commercial buildings are ready for rent and still unoccupied . Now there is not a single company which expanding there work force. I do remember in 2007-2208 every companies was growing their workforce by 15-20% which created a lot demand in the market. They were hiring people at any cost. Now scenario got changed, everyone trying to save their job.



    Pune office market absorption down nearly 24% from a year ago: Knight Frank report - The Economic Times
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  • Originally Posted by lovepune
    @realacres

    Can you please comment on the increase of price for above project from 2700 to 4000? You may be aware that you are predicting bubble burst theories since 2010. But to the contrary the prices have increased.



    ees baat kaa pata chalte hee aapko khabar kar denge (jai to mausi) .... :)
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  • Originally Posted by sansona
    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



    Sansona . ab teen saal gujar gaye, ab to oos dost kaa naam bata do.

    Sansona and Sansei . apki khabaren to badi sansani phenk rahe hain magar sab fattebaji lagti hai . :bab (45):

    more than 10 L loan, don't take risk ... LOL ...

    complete sentence should be like ... take loan only if its above 40L :-)
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  • Originally Posted by anup.thakare
    Latest CREDAI exhibition seems to be an attempt to show that property buying is on the rise again. Just to fool the crowd...

    Have you read the FREE issue they circulated during the exhibition? It shows the picture of exhibition with crowd breaking in. The matter inside claimed that CREDAI has provided budget homes to people and thats why people have now started buying again.

    My opinion over this is that if builders are trying hard to make a scene that property market is back again, then it is definitely not. :)


    Looks like we are being fooled by this post :D
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  • Originally Posted by compuwalah
    Looks like we are being fooled by this post :D



    Aap bahut pareshan lag rahe hain....:D
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  • Prices in Pune have gone UP by close to 10.5% in H1-2012 as compared H1-2011.

    So, any1 hoping prices will come down is in fools paradise....go get the property u want else ur budget will not be gud enough to buy any RE near city limits also.
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  • I went to Megapolis...surprised to see that they increased base price by a whopping 500 rs ( now 4500)

    Plus there were 20+ buyers on Sunday evening....market hardly looked dull

    You go to life republic anytime...you will see at least 10+ family
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  • Originally Posted by amitgupta00
    Aap bahut pareshan lag rahe hain....:D


    Rightly said pal. I cannot bear that people have been fooled for so long by such posts. :)

    If anyone would have invested that time even in resale, would have reaped rich reward by now.
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  • Originally Posted by Baruch
    I went to Megapolis...surprised to see that they increased base price by a whopping 500 rs ( now 4500)

    Plus there were 20+ buyers on Sunday evening....market hardly looked dull

    You go to life republic anytime...you will see at least 10+ family



    Baruch. What's matter with you man. Haven't the veterans been educating for past 3 years that all those buyers are in fact builder people only ? :)

    I know you would be asking then why price is being going up since last 3 years .... well let me find out some way of attention diverting mechanism so as to avoid answering the question :D
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