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 realacres
    LoL. Look at builders like Rohan, down by 25%, Mont Vert, down by 30%, Nyati, down by 22%, Kumar Properties, down by over 24%. Get your facts right. Even Nanded City has reduced the prices from INR 3500/sq ft to INR 2500/sq ft.


    sluurrrpppppppp .... this all is so mouth watering ... :D


    Originally Posted by realacres

    The prices have to fall by atleast 50% from their peak as it is the case across India & Pune is no exception.



    ab yeh kuch zyada ho gaya sir ... :)
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  • why so much of sarcasm here ?

    cant we tolerate different views ?
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  • Amazing!!

    Cant believe this thread is still alive. I joined in 2010 and even now i can see people are hopeful and keep reviving this thread

    Let me tell you i havent seen many posts on IREF where someone has waited for 2 years and then posted by saying thank you, i was able to get the right price in my budget, rather people have been accusing people (including myself) of letting them miss the bus and these numbers are far more than thank you ones.

    Yes people have been thankful in other ways i.e. they now know how to do due diligence but issue is that IREF contributes to less than 0.01% RE buyer population.
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  • Welcome back Munish.

    Since the year is not mentioned in the original post , this is a evergreen thread :) .


    I would suggest to make this thread sticky instead of "Bubble will Burst" .
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  • Originally Posted by hitmady
    These type of RE guys will put 10% & borrow 10% from friends/relatives :D

    A friend exhausted mutual-fund/investments, applied for max home-loan. Now wants personal loan from me. He's ready to give 15% (mkt rate 18%).
    I denied coz don't want NPA in my balance-sheet and invested in Coal-India.


    You lost a money making oppurtunity in 2010. Your friend would also given you 20% as his prop from 2010 buy would be gained 70%. Did you friend finally buy ?

    Originally Posted by realacres
    Last year was very bad for consumer durables as well. This year, RE fares badly in this period while consumer durables has picked up really well. That's the difference as people find more value in later.


    From this post of 2010, reality was that the RE fared very well in 2010 and far too well in 2011 :).

    Not sure what dataset was used to arrive at conclusion that RE did not fare well in 2010.

    Originally Posted by rameshyahoo
    Let me ask a rhetorical question here

    If prices of deccan/camp/koregaon park drop to Rs 3500 per sq/ft will you jump at the opportunity or will you buy in Baner at 1800 per sq ft ?


    My gut says that people who discuss the fall will jump at the opportunity to buy in the developed areas at 3500. If this is the case then it means that affordability is not an issue. It is the value for money argument which is keeping buyers away.

    If people resist buying 'developed' areas at 3500, it means that the buyers sentiment is very weak and therefore baner prices at 1800 or below can easily be possible.

    I'm one of the people who will sell my Baner apt at 1800 if I can get Deccan/Camp for 3500


    Think this all sounds too good to be true kinda post.

    Originally Posted by aditi sharma
    Revisiting this message as results for this quarter are out.
    Not 30K but now Infosys has increased target to hire 36K this year.
    For first quarter, net hiring was ~8.8K againts 7K of target.

    Now see the facts:
    ~7.8K left in first quarter.
    Net hiring for this quarter is 1.2K.

    Now calculate for whole year. 36K freshers will be hired this year, and 30-35K experienced (and costly) employees will quit or get fired (or soft fired)


    From this original post of 2010.
    Aditi . Wonder if you did any further analysis on how Infosys fared . Actually Infosys did very well in 2010 and 2011. What makes you think they did badly .

    Originally Posted by compuwalah
    Nice one Rajesh :) Someone need to keep tab on doomers if they forget about their old predictions with no intention to explain failure of those and start posting new gloomy future predictions :D (trying to keep tab on Diwali threads in the meantime ).
    wiseman !! Would you mind posting updated chart you posted on 3-Jan (same thread).


    ahemmm ... :)
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  • Originally Posted by compuwalah
    Welcome back Munish.

    Since the year is not mentioned in the original post , this is a evergreen thread :) .


    I would suggest to make this thread sticky instead of "Bubble will Burst" .


    Thanx Compuwalah,
    i have been more active on noida forum but i follow some threads of the threads on pune forum which are actually evergreen:)(bulls and bears, stock advise etc), not this one though, i just couldnt hold myself when i saw this thread again.

    People need to understand that there are a lot of factors than just salary levels and piled up inventories of builders that control RE prices in India. The big RE players sing this song- JIS JAGAH PE KHATAM SABKI BAAT HOTI HAI, US JAGAH PE HAMARI SHUWAAT HOTI HAI. We have no idea what goes into this RE biz of our country.:bab (5):

    BTW-Prices are expected to be moderate during this Diwali (2012) but not coming down for sure.
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  • Originally Posted by Munish Malhautra
    The big RE players sing this song- JIS JAGAH PE KHATAM SABKI BAAT HOTI HAI, US JAGAH PE HAMARI SHUWAAT HOTI HAI. We have no idea what goes into this RE biz of our country.:bab (5):

    BTW-Prices are expected to be moderate during this Diwali (2012) but not coming down for sure.

    Nicely stated Munish!

    If sbi lowers interest rates below 10 (say 9.75), prices will immediately go up in RE, if hovers at 10, status quo maintained in RE as well.

    Pune builders don't reduce rates generally, they hold when markets are jittery, increase again in short spurts when sentiments improve.Or launch some other building in same project with smaller area so that total cost tones down.
    Remember megapolis!

    Some one said Pune is no different any other metro and prices should go southwards here as well.
    No sir, Pune and Hyderabad are different than any other metro AFA RE New launches are concerned.
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  • Originally Posted by Munish Malhautra
    Thanx Compuwalah,
    i have been more active on noida forum but i follow some threads of the threads on pune forum which are actually evergreen:)(bulls and bears, stock advise etc), not this one though, i just couldnt hold myself when i saw this thread again.

    People need to understand that there are a lot of factors than just salary levels and piled up inventories of builders that control RE prices in India. The big RE players sing this song- JIS JAGAH PE KHATAM SABKI BAAT HOTI HAI, US JAGAH PE HAMARI SHUWAAT HOTI HAI. We have no idea what goes into this RE biz of our country.:bab (5):

    BTW-Prices are expected to be moderate during this Diwali (2012) but not coming down for sure.



    Some people who after flipping 2-3 properties (mostly 1-2 bhk types) in last 4-5 years become a self-proclaimed RE pundits .
    I can make out there class when they were busy finding 2 bhk for investment
    in RNE some months back.
    Now again they are looking for 3-bhk in Crossing republic for 50 lacs .
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  • Originally Posted by Trojon
    Nicely stated Munish!

    If sbi lowers interest rates below 10 (say 9.75), prices will immediately go up in RE, if hovers at 10, status quo maintained in RE as well.

    Pune builders don't reduce rates generally, they hold when markets are jittery, increase again in short spurts when sentiments improve.Or launch some other building in same project with smaller area so that total cost tones down.
    Remember megapolis!

    Some one said Pune is no different any other metro and prices should go southwards here as well.
    No sir, Pune and Hyderabad are different than any other metro AFA RE New launches are concerned.


    Hi Trojon,
    With increase in price of diesel, u can expect more investment in RE across India as inflation will go up, increase in inflation is directly proportional to increase in RE purchase.....and am quite sure interest rates are coming down.:)
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  • Originally Posted by Munish Malhautra
    Hi Trojon,
    With increase in price of diesel, u can expect more investment in RE across India as inflation will go up, increase in inflation is directly proportional to increase in RE purchase.....and am quite sure interest rates are coming down.:)


    I think better than RE ,people should buy Gold now.It will give better
    appreciation than RE .
    Interest rates will come down only after inflation goes down to 7% or so, which i do not see after diesel rate hike.
    Also even if after interest rates come down ,i am not sure if housing loan market will pick up, already this year banks have negative credit growth.
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  • Happy Diwali to all - bulls as well as bears :)

    Don't :bab (50): much and IT folks spend less time this way.

    Take some time off :fish2: from usual RE (RE is not only thing in life) and gorge on sweets within limits.
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  • happy diwali even though rates are not down this diwali just like diwali a year ago, two years ago and three years ago (when this thread was started)
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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


    From this post of May 2009, the thread starter, it almost sounded like end of world ... wo wo wo .. take a break man .... phew ... good none of this came true :). Think this was a good attempt to spread FUD in the forum (considering that was not spurted as you woke up from some bad dream, in case so please ignore rest of the message).

    But guys I say we should have big heart to forgive such tresspass on occasion of Diwali (though committed some 4 Diwali back) and assimilate such people in mainstream (rehabilitation does take some time). If people find that too aggresive target they can do half forgiving now and rest half on time of Holi (on Holi thread).


    Look at this .... (hasna manaa hai) .... " ...Those who want to take loan (more than 10L), please don't take risk ..." :) are bhai itna loan to shayad bhikari ko bhee mil jataa hai. anyway I willcomplete the sentence "Anyone who wants to take risk of doubling his money in next five years , please do not take risk ... blah blah"


    To be taken in spirit of Friday mood. Have a nice weekend.
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  • I requested the Mods to add year 2009 in the title of this thread so that everyone having a first look can understand which year's Diwali are we talking abt.

    But seems like all Mods are bears and hibernating :D
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  • Lolz....Yes the Mods should update the title.....

    I never saw dip in the market...wait and wait and wait....Today the rate is Rs. 5150 in PCMC, Rs. 4200 in Ravet (?)....for how many more Diwalis to wait..???
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