The one question in every bodies mind is whether to go ahead and buy or wait some more!

I have been scouting for property for last one year.

Bought land some time back.

The prices are out of reach of majority of folks.

They r seemingly correcting . How much no one knows

These prices seem irrational and unsustainable to me.

Folks there is no dearth of land. What is causing these unrealistic prices.

: No infra development with restrictive land use rules.

: Easy money

: No building regulations.

Pesonally easy money is gone, Infra is Up , regu is increasing and demand down due to eco condition.

Logically the prices should continue down for some more time.

What do u thnk abt Pune?

Should I wait for dream flat some more time???:)
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  • Right time to buy

    pl c article in Ind express Sat 22 May.
  • wait for atleast 12-15 months... use rental acco in the meanwhile.. it will save you several lakhs of rupees in the currently overinflated scenario.

    The good price to buy would be at year 2003-2004 levels, which provide decent upside potential.
  • sansei,

    can you pls give the link to this Indian Express article or tell us what it said about Pune Real Estate Scenario?
  • In Express estate section:-

    The gist

    1. Choose & Go for house if for own use. Bargain as Price correction 15-30%.

    2. Do not invest in property now.

    3. Already invested, appreciation will be very slow. Do not expect returns.

    4. Appreciation risk for home buyers none.( extremely low).Risk of price depression still exists.
  • time is not ripe ?

    Hi vbrege,

    one article fm bizstandard, i posted in RE discussion forum

    Why the time is not ripe to buy a home
    a small article for the bloggers.

    Why the time is not ripe to buy a home

    That the property market has undergone a significant correction is well known. That real estate experts are now talking about prices bottoming out is well known too.
    But, contrary to conventional wisdom, experts are of the view that this may not be the right time to invest in residential property. And, their advice is for both first and second-time home buyers.
    Consider this: A report from PropEquity, a firm that maintains data on real estate, said that in the first quarter of the current financial year, the Mumbai market saw an average correction of 42.84 per cent compared to the corresponding quarter last year.

    According to another report by Centrum Broking on Maharashtra Chamber of Housing Industry's exhibition, prominent developers such as Kalpataru, Lodha, Rustomjee and the Acme Group were quoting prices 20 per cent lower than their card rate six months ago. Godrej Properties had dropped the quoted price of its Mahalaxmi project (Planet Godrej) by 34 per cent.
    Prices in other major metros too have seen a significant correction in the past six months, according to the PropEquity report. These include Gurgaon (24 per cent correction), Chennai (13 per cent) and Hyderabad (10 per cent) for the same time period.
    If prices are lower, then why investment in realty is not advisable?

    "To begin with, the yields of residential properties are low. They are between 3-5 per cent only," says Hitungshu Debnath, executive director, distribution and wealth management, Angel Broking.

    If you take a loan from a bank and expect the rent income to help you pay the equated monthly instalment, you will need to rethink the math, he adds.

    "The rent income along with property appreciation will not be able to cover even the interest that the investor will pay for the home loan in the first few years. This is called as opportunity cost in real estate. To get good returns, the buyer will need to hold on to the property for a long time, probably till the loan is repaid," says a property expert.
    Experts also suggest that property prices are going to remain stable for at least two years, that is, if the correction stops.
    "This is based on the supply that will hit the market in the next three years. An estimated 200 million sq ft a year will be available, considering the properties announced," says Pranay Vakil, chairman, Knight Frank (India).
    Not all the supply will be lapped up by the buyers immediately. This supply also means that the appreciation in the property value will be slow, he adds.
    Powered by ="http://www.business-standard.com/"]

    Recent upsurge due to feel good factor might be short lived,
    RE upsurge has limited up side range.
    Currently, Upward price 3k/ft should be Max for any decent out skirt project.
    Feel it is hyped, ready to wait more , just scouting., ready to wait more , just scouting.