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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    Originally posted by Venkytalks View Post
    Seems to me Pune builders really cut corners - these news of balcomies falling, walls crashing always seem to be from Pune for some reason.

    Even the burglary of apt - thieved smash 5 locks to find them empty, smash 6th and loot hous block highlighted in national news a few weeks ago - with pictures - mocking the burglars and lamenting locked up flats - to me pointed out only one thing - how flimsy the front door was - so easy to break in.

    Pune flat quality seems more suspect than rest of the country
    I wonder if those were thieves or builder's men who knew the owners were not present in India
    Pune RE is not only overpriced,but also low in quality. Hope the NRIs understand this before putting money in RE.

    Comment


    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Originally posted by Venkytalks View Post
      Seems to me Pune builders really cut corners - these news of balcomies falling, walls crashing always seem to be from Pune for some reason.

      Even the burglary of apt - thieved smash 5 locks to find them empty, smash 6th and loot hous block highlighted in national news a few weeks ago - with pictures - mocking the burglars and lamenting locked up flats - to me pointed out only one thing - how flimsy the front door was - so easy to break in.

      Pune flat quality seems more suspect than rest of the country
      In smaller towns and hamlets of northern India, the concept of housing has not changed that much. Many people buy plots and build aesthetically pleasing and structurally strong houses. Kitchen gardens are quite common, so they are self-sufficient in vegetables. Bartering food items [ fruit, veggies, milk etc ] is also common. Personally, I think this type of lifestyle is much better.

      Pune was a nice town to stay in around the 80s -- almost a hill-station. Builders and politicos have totally spoilt it. When I visited about 2 years back, I was shocked to see the unruly traffic & dirty roads and air. Almost all small houses have disappeared and ugly matchbox type buildings block out all the natural elements. And to top it all, its criminally expensive -- everything from daily essentials to property is overpriced.

      Also, I noted that Pune people have a distinct ' attitude' -- brash, unhelpful, rude, lacking basic manners and etiquette. I wonder if Pune folks believe that Pune is a place apart from Earth and they are superior to other beings on the planet ! Definitely not the sort of community I'd like to live in.

      One of my friends suggested checking out some properties and we roamed around Undri and neighbouring areas. Such a breezy area dotted with hillocks -- but again, scarred by ugly buildings of sub-standard construction. I said to myself " Is this the junk that people mortgage their lives for ? ! " Forget about buying such junk, the day I left Pune, I decided that I would not even set foot there agin.

      I met an acquaintence who is also in banking, and he has tried out an experiment. He had some 30 lacs but did not want to buy a flat. So he bought a plot near Sinhgarh fort [ I forget the name of the hamlet ] and constructed a 2-bedroom house with his own funds. In fact, he told me, that whereas he would have had to take a loan over and above his contribution for a " jail-cell" [ his words ], he now has a spacious house on a 250 sq yard plot with plenty of clean air and sunshine. He commutes about 40 kms [ to and fro ] everyday to office, but feels he has made the correct choice.

      Maybe more people should think on those lines. Building one's own independent house is time-consuming and tedious -- but no pain, no gain. I really think that Pune RE buyers are too much used to having dwelling units served to them on a platter. If you're enslaved to builders, obviously they will take advantage of you. Why not think different ?

      This might sound a bit extreme, but I think Pune is spoilt forever. I'm thinking of returning to India this year, but I'd rather set up home in Chandigarh or Nainital. Even for RE investment, smaller towns offer better prospects than cities like Pune which are over-hyped and overpriced.

      Comment


      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by SanjanaSingh View Post
        In smaller towns and hamlets of northern India, the concept of housing has not changed that much. Many people buy plots and build aesthetically pleasing and structurally strong houses. Kitchen gardens are quite common, so they are self-sufficient in vegetables. Bartering food items [ fruit, veggies, milk etc ] is also common. Personally, I think this type of lifestyle is much better.

        Pune was a nice town to stay in around the 80s -- almost a hill-station. Builders and politicos have totally spoilt it. When I visited about 2 years back, I was shocked to see the unruly traffic & dirty roads and air. Almost all small houses have disappeared and ugly matchbox type buildings block out all the natural elements. And to top it all, its criminally expensive -- everything from daily essentials to property is overpriced.

        Also, I noted that Pune people have a distinct ' attitude' -- brash, unhelpful, rude, lacking basic manners and etiquette. I wonder if Pune folks believe that Pune is a place apart from Earth and they are superior to other beings on the planet ! Definitely not the sort of community I'd like to live in.

        One of my friends suggested checking out some properties and we roamed around Undri and neighbouring areas. Such a breezy area dotted with hillocks -- but again, scarred by ugly buildings of sub-standard construction. I said to myself " Is this the junk that people mortgage their lives for ? ! " Forget about buying such junk, the day I left Pune, I decided that I would not even set foot there agin.

        I met an acquaintence who is also in banking, and he has tried out an experiment. He had some 30 lacs but did not want to buy a flat. So he bought a plot near Sinhgarh fort [ I forget the name of the hamlet ] and constructed a 2-bedroom house with his own funds. In fact, he told me, that whereas he would have had to take a loan over and above his contribution for a " jail-cell" [ his words ], he now has a spacious house on a 250 sq yard plot with plenty of clean air and sunshine. He commutes about 40 kms [ to and fro ] everyday to office, but feels he has made the correct choice.

        Maybe more people should think on those lines. Building one's own independent house is time-consuming and tedious -- but no pain, no gain. I really think that Pune RE buyers are too much used to having dwelling units served to them on a platter. If you're enslaved to builders, obviously they will take advantage of you. Why not think different ?

        This might sound a bit extreme, but I think Pune is spoilt forever. I'm thinking of returning to India this year, but I'd rather set up home in Chandigarh or Nainital. Even for RE investment, smaller towns offer better prospects than cities like Pune which are over-hyped and overpriced.
        I would tend to agree with own villa in principle.

        In practice, it is possible only in Tamil Nadu (coimbatore district rest is too hot) and Karnataka around Bangalore. Even Kerala is too hot to live in, though very safe.

        Coimbatore, though it has airport, but flight tickets to Delhi is quite expensive. Leaving only Bangalore as a possibility.

        Goa is another good possibility, though.

        All of these can only be a retirement home or second home - second homes in another city can be quite expensive to maintain and use - flight tickets alone make it not worth while

        Everywhere else, especialy in north india, the issue of security makes it simply impossible. Living on your own plotted development in New Gurgaon or Greater NOIDA (where plot prices are thinkable) - is unthinkable because you will be robbed and worse - policing is non-existent.
        Venky (Please read watch a or before posting)

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by amit3011 View Post
          I wonder if those were thieves or builder's men who knew the owners were not present in India
          Pune RE is not only overpriced,but also low in quality. Hope the NRIs understand this before putting money in RE.
          Actually it was quite funny. Robbers came and tied up the security guard. Then they went to each locked flat and broke open the door - only to find that it was a ghost flat - left empty by the flat owner as an investment.

          People with money are just buying and leaving it empty, sure in their knowledge that the value appreciates more than FD. Why bother with a 2% rental yield? I know in Delhi, Dwarka and Sohna Road are both full of such empty flats.

          Finally, the sixth locked flat actually had residents who were away, and the burglars could loot some valuables.

          At least they didnt rob flats which had people inside, at gunpoint - in NOIDA and Gurgan, that is what robbers do - they attack when people are inside.

          Frightening. To me the value of such a residence is junk - includes all the plotted houses and floors which dont have some semblance of security. Gated apartments are probably safest (despite the example just quoted above, where they just tied up the guard)
          Last edited by Venkytalks; February 8 2012, 03:28 PM.
          Venky (Please read watch a or before posting)

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Originally posted by SanjanaSingh View Post

            Also, I noted that Pune people have a distinct ' attitude' -- brash, unhelpful, rude, lacking basic manners and etiquette. I wonder if Pune folks believe that Pune is a place apart from Earth and they are superior to other beings on the planet ! Definitely not the sort of community I'd like to live in.

            Maybe more people should think on those lines. Building one's own independent house is time-consuming and tedious -- but no pain, no gain. I really think that Pune RE buyers are too much used to having dwelling units served to them on a platter. If you're enslaved to builders, obviously they will take advantage of you. Why not think different ?

            This might sound a bit extreme, but I think Pune is spoilt forever. I'm thinking of returning to India this year, but I'd rather set up home in Chandigarh or Nainital. Even for RE investment, smaller towns offer better prospects than cities like Pune which are over-hyped and overpriced.
            Well..

            I am from Rural Maharashtra..I used to think about Pune people in the same terms. But I have lived in Pune last 1.5 years and my opinion has changed. Many things attributed to Pune people are cultural imports especially from north. Marathi locals are mostly scared of this insane growth and trying to keep a foothold in the crazy surroundings.

            I have traveled in north and in south and I can say that in terms of acceptance of someone from outside of city, pune would rank better than any place in North or South India..

            Btw thanks for deciding not to come to Pune. Pune can definitely do without more people coming in.( See !! now may be you can accuse me of being a haughty Pune local !! ).Most of the rural West Maharashtra is depopulating and migrating into Pune and this is going to rival Mumbai in size even if no one from out of state comes in..
            Last edited by msp1976; February 8 2012, 03:50 PM.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Pune has gone to the dogs. It used to be a gorgeous town till the late 90s also. Post 2006 it has just gone ballistic....it is not that the locals arent benefitting from the massive influx from all parts of the country..it is the locals who are making max hay whilst the sun is shining...all builders are locals, all servicemen are locals....

              I recently enquired about an appartment at Supreme Palacio (or somethign like that) in Baner and was told it is all sold out. When i did not express any thing further, the sales lady told me that if i had the budget (of 2.2 crs for a 2637 sq ft flat), there was one available - an investor re sale. i doubt how many migrants can afford at this cost.

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Originally posted by SanjanaSingh View Post

                Also, I noted that Pune people have a distinct ' attitude' -- brash, unhelpful, rude, lacking basic manners and etiquette. I wonder if Pune folks believe that Pune is a place apart from Earth and they are superior to other beings on the planet ! Definitely not the sort of community I'd like to live in.

                I met an acquaintence who is also in banking, and he has tried out an experiment. He had some 30 lacs but did not want to buy a flat. So he bought a plot near Sinhgarh fort [ I forget the name of the hamlet ] and constructed a 2-bedroom house with his own funds. In fact, he told me, that whereas he would have had to take a loan over and above his contribution for a " jail-cell" [ his words ], he now has a spacious house on a 250 sq yard plot with plenty of clean air and sunshine. He commutes about 40 kms [ to and fro ] everyday to office, but feels he has made the correct choice.
                Pune is still one of the better places to live in . Most of the areas that you're talking about are villages outside Pune which are now getting included in PMC/PCMC. Its still much better than living in most of the northern part of India , though it has lost its charm in the last decade or so . By the way , experience is that hospitality increases as you move towards southern part of India .
                Everybody wants to build his own house , but today safety , maintenance and socializing factors are better taken care in an apartment society . There are many wealthy people preferring apts for safety reason alone .
                Travelling 40 kms daily from Sinhagad fort area is not possible for everybody and hardly an option for many long years . In the US this will not take more than 30 minutes , here it'll take 1.5 hours one way . 3 hours a day in commute everyday just to have your own villa ? What do you gain if you lose your health in this ? And living so far is how much safe and convenient for all other daily needs for oneself and family ?
                Most Indians living in US for a long time find it extremely hard to adjust on return to India as they get used to the standard of life there . Builders thrive on this NRI mentality of 2-3 people family wanting to live on an acre plot each . These days apts are being named as Colorado , Miami etc just trying to cache in this psyche .

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Originally posted by msp1976 View Post
                  Well..

                  I am from Rural Maharashtra..I used to think about Pune people in the same terms. But I have lived in Pune last 1.5 years and my opinion has changed. Many things attributed to Pune people are cultural imports especially from north. Marathi locals are mostly scared of this insane growth and trying to keep a foothold in the crazy surroundings.

                  I have traveled in north and in south and I can say that in terms of acceptance of someone from outside of city, pune would rank better than any place in North or South India..

                  Btw thanks for deciding not to come to Pune. Pune can definitely do without more people coming in.( See !! now may be you can accuse me of being a haughty Pune local !! ).Most of the rural West Maharashtra is depopulating and migrating into Pune and this is going to rival Mumbai in size even if no one from out of state comes in..
                  Partially agree to this post and the one earlier...being a puneite I can say it is difficult to get information from people here , especially if you're trying to search for something . Ask a PMT bus conductor about your stop and all you'll get an empty stare . Found it much better in the south where people are much more helpful and information is easily available .

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by Venkytalks View Post
                    I would tend to agree with own villa in principle.

                    In practice, it is possible only in Tamil Nadu (coimbatore district rest is too hot) and Karnataka around Bangalore. Even Kerala is too hot to live in, though very safe.

                    Coimbatore, though it has airport, but flight tickets to Delhi is quite expensive. Leaving only Bangalore as a possibility.

                    Goa is another good possibility, though.

                    All of these can only be a retirement home or second home - second homes in another city can be quite expensive to maintain and use - flight tickets alone make it not worth while

                    Everywhere else, especialy in north india, the issue of security makes it simply impossible. Living on your own plotted development in New Gurgaon or Greater NOIDA (where plot prices are thinkable) - is unthinkable because you will be robbed and worse - policing is non-existent.
                    Venky,

                    I'm not thinking of GGN or Noida.

                    Rather, I've zeroed in on the two towns mentioned in my post. Both these are also close to my parents' / in-laws homes.

                    Once I leave the ratrace here in UK, I have other plans when I relocate to India.

                    Other suggestions from friends / relatives are : Shimla, Solan, Palampur, Ranikhet. What do you think ?

                    I can't adjust in South India. And in the places mentioned above, I will be setting up primary residence, not a second home. I'm sick of big-city life.

                    Opinions will be appreciated.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by msp1976 View Post
                      Well..

                      I am from Rural Maharashtra..I used to think about Pune people in the same terms. But I have lived in Pune last 1.5 years and my opinion has changed. Many things attributed to Pune people are cultural imports especially from north. Marathi locals are mostly scared of this insane growth and trying to keep a foothold in the crazy surroundings.

                      I have traveled in north and in south and I can say that in terms of acceptance of someone from outside of city, pune would rank better than any place in North or South India..

                      Btw thanks for deciding not to come to Pune. Pune can definitely do without more people coming in.( See !! now may be you can accuse me of being a haughty Pune local !! ).Most of the rural West Maharashtra is depopulating and migrating into Pune and this is going to rival Mumbai in size even if no one from out of state comes in..
                      I'm not pointing a finger at any particular community or targetting Maharashtrian locals. In fact, the society in which my friend stays [ undri ] has majority non-maharashtrian occupancy. I can't express it precisely, but somehow it appears that the attitude is the same -- whether maharashtrians, migrants or locals. Maybe people who come from outside and settle down in Pune absorb the attitude and culture of Pune folks.

                      Anyways, not trying to start a debate. Just recording my impressions.

                      Actually it is the builders in Pune [ I'm sure there must be some who read posts on this forum ] who should consider such feedback seriously and spend a lot of time reflecting why they're building junk that no-one wants -- ha, and then they wonder why its not selling

                      Comment

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