Hi folks,

i have seen many folks here comment that property rates will be down by Diwali, or down in another 6-12 months etc...

I have been looking around last 2 months and have never seen any builder in Pune bringing down the rates, instead its increased by 5-10% in certain projects especially in the western part of Pune. I am looking for ready posession, or projects which can handover homes before March '10.

Is there any specific news someone is certain which can be a trigger to bring the rates down? local elections? Budget - July 09? is bottom still not reached in US/UK/western economies, and are we expecting more bad news which can affect jobs in Pune?

just wanted to know what makes buyers optimistic to wait for a RE downside?

Thanks.
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  • Originally Posted by Sharpj
    But real.. the question is will it result in drop in price.. I suspect not unless the the situation drags on for couple of years..
    A Gera and a Marvel hold on to price.. but slow down the construction because he does not have the money..

    Gera has drastically reduced prices...check with aditi or Sansei as they are tracking this area better.
    New projects get launched in the area at huge discounts.. but I am nervous to invest there because of the uncertainty of the project and the financial situation.. and my budget also has shrunk.. because of the inflation and bank loan interest hike..

    Correct. No point in putting money when you are not assured about delivery, nor is there any point in over-leveraging yourself.
    As a common man.. I keep chasing the end of the rainbow..

    This the sole reason for getting sad:- Chasing something. Yes, goals need to be there but you should also enjoy the journey man. Set up an action plan, the simplest thing would be to start saving & then when you accumulate enough wealth, make this downpayment & buy with ease. Save & go to trip with your family to Bahamas or just a drive down Mumbai-Goa highway, enjoy life. If this is done, the rainbow will come chasing you:).

    Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
    Everything has a time, when it will come, it will change everything, trust me, self experience.:bab (41):
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  • Originally Posted by realacres

    Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
    Everything has a time, when it will come, it will change everything, trust me, self experience.:bab (41):


    Good one :)
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  • We all live in hope.. Tomorrow is getting better than today..
    It is actually maybe....except the gap between the scorpio chap and me.. is getting wider..
    I enjoy life.. and doing good.. contrary to what the post suggests..
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  • Originally Posted by realacres
    Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
    Everything has a time, when it will come, it will change everything, trust me, self experience.:bab (41):

    I tend to agree with real most of the times :D
    Planning too much (holding sand) in life kills the fun. I see people cutting on fun/quality as soon as they get home-loan.
    Fun comes, when you enjoy life daily and not planing to enjoy after 5-10-15 years.
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  • RA, you got my message :o you not replying these days, have I bothered you enough with questions and suggestions regarding many projects :D
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  • Yes, but how long will they survive ? If we enjoy our life properly, we can certainly outlive them. Also do remember that their kids are THE most dumb people as they didn't get good education or parental care. So overall it may seem they are in a better position, but that is an illusion.

    So enjoy life and live it to the fullest, without bothering about RE or self-owned home.

    Anyway it's a curse to own a RE in city, with all the traffic, pollution, water cuts etc. Stay rental, move out to new areas, where things are pretty well planned in the initial stages before it starts crowding again.

    Better still to own a property on outskirt villages, where you can go for a weekend outing. That will appreciate more than city RE and it will be quite affordable.

    Originally Posted by Sharpj
    We all live in hope.. Tomorrow is getting better than today..
    It is actually maybe....except the gap between the scorpio chap and me.. is getting wider..
    I enjoy life.. and doing good.. contrary to what the post suggests..
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  • Originally Posted by puser
    RA, you got my message :o you not replying these days, have I bothered you enough with questions and suggestions regarding many projects :D

    Yep, I did get your message & couldn't reply as I was out of town & pm is the one which requires answers based on individual rather than general. Check your pm box now.

    mady & mymarji,
    +1 to your posts. People tend to forget that RE is part of life & not life. There are multiple areas to park your money at rather than paying it for crap flats without proper infra & constro quality. I know a person who has a flat in Bandra & stays on rent in Pune. His family (especially the women) are happy that they OWN some house, & he is happy as he rents in Pune, so saves a lot + Bandra house rent pays off his Pune rent + some money as well:).

    Had I been in Bangalore, I would have been doing interior work now!!

    * PS:- This Bandra fellow will finally settle in Mumbai, hence it made sense to buy at good levels there.
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  • This makes me think property will be down...

    With thanks from outlookmoney.com...:bab (34):
    http://money.outlookindia.com/article.aspx?266322

    More discerning consumers. In the last 8-9 months, as the prices shot up, demand fell. In fact, apartment registrations in Mumbai in May 2010 were down 25 per cent from the previous month. “The volumes that we saw in October-November 2009 have shrunk,” says Pranay Vakil, chairman, Knight Frank India, a realty consulting firm. Though there is a huge inventory at the developers’ end, they are still increasing prices. This has a lot to do with the fact that they have several initial public offers (IPOs) lined up. Some experts have already started speaking of a bubble in the market. Most believe that, going forward, prices will not increase the way they did recently. “The prices have gone up too high in a small time and salaries have not moved up accordingly. Inflation is also high. So, it’s only a couple of years from now that people will be able to buy a house. In fact, the next peak is expected to happen in 2013,” says DTZ’s Jain. “As a result, rentals in residential property will improve,” says Anuj Puri, chairman & country head, Jones Lang LaSalle Meghraj, a realty consulting firm.
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  • One more good thread for discussion.
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  • ....the next peak is expected to happen in 2013

    Originally Posted by home123
    With thanks from outlookmoney.com...:bab (34):
    money.outlookindia.com | How We Will Buy Houses

    More discerning consumers. In the last 8-9 months, as the prices shot up, demand fell. In fact, apartment registrations in Mumbai in May 2010 were down 25 per cent from the previous month. “The volumes that we saw in October-November 2009 have shrunk,” says Pranay Vakil, chairman, Knight Frank India, a realty consulting firm. Though there is a huge inventory at the developers’ end, they are still increasing prices. This has a lot to do with the fact that they have several initial public offers (IPOs) lined up. Some experts have already started speaking of a bubble in the market. Most believe that, going forward, prices will not increase the way they did recently. “The prices have gone up too high in a small time and salaries have not moved up accordingly. Inflation is also high. So, it’s only a couple of years from now that people will be able to buy a house. In fact, the next peak is expected to happen in 2013,” says DTZ’s Jain. “As a result, rentals in residential property will improve,” says Anuj Puri, chairman & country head, Jones Lang LaSalle Meghraj, a realty consulting firm.


    So we are in 2013 and did we saw the prices come down yet??:bab (59):
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  • Originally Posted by Citiboy
    So we are in 2013 and did we saw the prices come down yet??:bab (59):


    my 2 cents, RE Bubble is not something which will happen overnight, it is not going to be like one fine morning we read property prices are down 40-50%, this will not happen, prices will go down gradually....

    Speculative Bubble, grows on greed and delusion. in this world you will find both this trait in excess..
    the way property prices are rising, we all know this cant keep on rising forever and there would a point after that it can only come down....
    only problem is when RE will reach this point...that is the only question..
    i have no doubt this is bubble but we dont know when this would burst.....

    There are always some signs to show something is wrong, problem occurs when people ignore this sign and that is what is happening in RE, people are ignoring all the important signs....
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  • I dont think prices will come down. If you think prices will come down, by how much ammount and for how much time period ? Any predictions ?
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  • Prices in Gurgaon

    Optimus,

    We bought (rather my great grandfather did) land in what is now called New Gurgaon at the rate of Rs 1000 per acre. Ever since it has been heard that property prices have gone up and they'll come down because the only way they can go now is DOWN.
    Today I'm (or rather my father is) NOT selling that land for even as much as 10 Cr per Acre.

    For years people were talking about 21 December 2012.
    What happened? Did we all vaporize?

    Two options:

    1. Invest today and gain the appreciation. If it does not appreciate, you atleast have the physical posession of the property.

    2. Wait for the bubble burst. You won't be able to catch up with the prices by the time you give up the hope on bubble bursting.

    Choose wisely.

    Originally Posted by OptimusPrime
    my 2 cents, RE Bubble is not something which will happen overnight, it is not going to be like one fine morning we read property prices are down 40-50%, this will not happen, prices will go down gradually....

    Speculative Bubble, grows on greed and delusion. in this world you will find both this trait in excess..
    the way property prices are rising, we all know this cant keep on rising forever and there would a point after that it can only come down....
    only problem is when RE will reach this point...that is the only question..
    i have no doubt this is bubble but we dont know when this would burst.....

    There are always some signs to show something is wrong, problem occurs when people ignore this sign and that is what is happening in RE, people are ignoring all the important signs....
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  • Originally Posted by CaptainYadav

    Two options:

    1. Invest today and gain the appreciation. If it does not appreciate, you atleast have the physical posession of the property.

    2. Wait for the bubble burst. You won't be able to catch up with the prices by the time you give up the hope on bubble bursting.

    Choose wisely.


    You forgot the 3rd option.

    Catching up with the prices can be done in the future also, when one has saved enough. There are far better places wherein one can stay in future, far away from the rat race of property/RE ownership and live a life supposed to be lived.

    Today the big builders are creating small apartments due to unaffordability and dwindling purchasing power of people. Earlier they had a good market and more appreciation than any industry. Very soon they will see that its more cumbersome to build houses/apts than running some company. Many will move out of building houses/apts. Which will be a good thing. Too many apt, will lead to too much speculation.

    I hope the RE Regulator bill gets passed, that will bring some discipline to the unruly folks.
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  • this is what i call delusion and this only vindicate by belief in RE speculative bubble
    lets talk about options you mentioned.. (in blue)
    Originally Posted by CaptainYadav
    Optimus,
    Two options:

    1. Invest today and gain the appreciation. If it does not appreciate, you atleast have the physical posession of the property.

    i am talking about depreciation here, property losing the value at which it was bought

    2. Wait for the bubble burst. You won't be able to catch up with the prices by the time you give up the hope on bubble bursting.

    RE Bubble will take back market by atleast 4-5 years..so market crashes in 2013,,,,value of property will go back to 2008-9
    that is just one thing, correction will happen every where..
    Builder will not just raise property prices by 100 Rs/SQFT every week..



    now, lets go back 4 years, one of the hottest property market in Asia was Dubai.
    Dubai had all the ambitious project in pipeline and some of the project already created were totally high class...what happen, why Dubai Real estate bubble burst in 2009.. real estate crash by 47% in year 2009 ..
    why it happened in Dubai , why property bubble burst in USA, why property bubble burst in Spain..why..

    Investors selling flats to investors..

    that is the only reason..

    ...In todays world some how most of the people believe RE is the only and right way to invest money ..but if All want to multiple there money and if all start taking same route then how money would multiply....it will not.. for sure not in long run...

    See, no one can predict bubble burst..if this could have been predicted then it would not have been called a bubble..
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