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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  • Yesterday I was watching the India Property Show on NDTV where they invited some knowledgeable people in their panel. They agreed that RE and Gold will continue to flourish like they have been recently for couple of years more. So RE will remain investor driven for some time to come. I agree to them a lot. I dont see any change in near future.

    They expected Gold to give returns in 12-15% range for an year or two to come.
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  • Originally Posted by Vinner
    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..???


    lol...true...just buy it if you're getting good deal
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  • Would agree with all,

    Time comes and goes and we still wait for the "right" time. Well we should have some analyst and data behind this "right-time-wait-period" fundamentals.

    IMHO if one has to either buy/invest in RE s(he) should do now, never keep waiting for prolonged period Diwali will come and go and you will keep celebrating this festive with a RE-mood buyer reflection.

    Long story short, get your feet running and buy if you really need/want it. Don't wait on people opinion of wait couple of more months it will come down.. or don't buy in "so" called area it is not valued at that price and so on...

    This story will continue for ages and your thoughts will deeply sink in this..lets go and hit the road should be the best adaptive approach!
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  • Originally Posted by crimson
    Diwali failed to light up realty sector: Survey
    :)

    Diwali failed to light up realty sector: Survey - Economic Times



    Ok. Some kind of consolation for bears. The sales have increased only 1/5 of what was expected by builders. The demand only grew by 20% during Diwali instead of the expected value of 100%.
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  • Diwali counter set ticking
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  • Hey Compuwalah, there is no point in opening old threads and advertising the fact that something didn't happen as predicted by someone. Those who think that it make sense to buy at current rates will anyway buy and those who think that they deserve a better deal (considering lousy construction standards set by Pune developers) will not buy or buy in some other city
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  • We will require this thread to discuss around Diwali as this is a generic thread as it does not mentioned the year in which Diwali falls.
    But someone pointed out that opening a thread more than 3 month old is not considered civil. So keeping the thread alive by a tick. Next tick in April.
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  • Compu,
    Possession dates from Diwali please.
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  • This thread used to be sticky...somehow moderators removed it

    May be...it will be made sticky around Sep in run up to next Diwali
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  • Originally Posted by compuwalah
    We will require this thread to discuss around Diwali as this is a generic thread as it does not mentioned the year in which Diwali falls.
    But someone pointed out that opening a thread more than 3 month old is not considered civil. So keeping the thread alive by a tick. Next tick in April.


    up thread to keep alive. reality check, no sign of any fall in Pune RE market. However some members like waiting4crash have been reporting crash of upto 30% in the Pune RE . They have been referred to cycoligists and reports are awaited ;)
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  • Originally Posted by realacres
    Compu,
    Possession dates from Diwali please.


    missed this post. wat is the context btw ?
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  • Pune real estate rates are steady ...will it go down?

    I have seen rates in Pune are steady from last 2 months. Will rates go down?
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  • Yes rates are bound for a correction very soon. If you go with full cash. You may even get a 25-30% discount. Try it if possible for you. There are no sales happening. Builders are starved for money.
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  • rates in Mumbai , Pune will never go down , in last 1 year , area i was searching was spine road in Moshi , in last June/ July i have seen rate was 3200 to 3700 / sqft negotiable ... Now you please go and inquire you will not get anything less than 4300 to 4800/ sqft , same applies to mumbai as well ...rates have gone up by Min 800 to 1000 / sqft in last 12 month.
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  • and builder's are starved for money - perhaps a convenient myth for us to believe price correction...reason - builder recovers money just by selling for first 10-20 flats...may be they're starved for projects which are just launched
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