Hi folks,

As I earlier mentioned I am going to visit Pethkar - Samrajya today. I am finalizing a 2bhk unit there. The last rate quoted was Rs. 4200. Lets see how much they reduce the price today. If anyone has more info on this project/builder then kindly share. :D
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  • Originally Posted by RAJESHP
    Launch price of Samrajya was 5600-5800 early 2008. What do you think investors who have invested then
    feel about their investment. Now dont tell me that they all cancelled their bookings and entered when there was
    correction.

    To date its not even at par, but below the launch price. 2 Yrs at par itself means 15L loss, as was calculated before in some other thread.

    Do you think its wise to Ignore this facts and celebrate this price hike from their recent lows.

    Its beyond my understanding. Its not "50% correction theory guys" who need to hide/disappear, but in fact its RE bulls who are in difficult situation now.:D:D:D


    i dont think tht anyone had booked at the launch rate of 5600+ as at tht time RE was going from a rough phase. but pethkars have started getting booking when they reduced it to 5200 and then 4500 psft. moreover they used to negotiate little but in recession period.
    i dont see rates coming down to 2500 figures in near future in kothrud area. moreover rates r improving in many area and i doubt tht rates at samrajya may touch the initial figures.

    sam...
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  • Originally Posted by mandarg
    Sigma 1 charges 3 lacs for parking and they have a floor rise cost. Pethkar is overpriced at this rate but still less than sigma 1 surely... :)

    As said by Sam, the higher floors are being planned to be opened at higher rates. This is then nothing but indirect floor rise charges, isn't it? Also, considering Sigma 1 & Pethkar in totality, the 3L parking charges is worth, if that's the only difference as the other advantages like less crowd due to less flats, better specs, much better location, quality & ready poss/close to poss etc. overcome this additional cost. If the price difference is 5-10%, better to go for Sigma1 anythime.
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  • Originally Posted by RAJESHP
    before in some other thread.

    Do you think its wise to Ignore this facts and celebrate this price hike from their recent lows.

    Its beyond my understanding. Its not "50% correction theory guys" who need to hide/disappear, but in fact its RE bulls who are in difficult situation now.:D:D:D


    I am neither a RE bull nor I am celebrating RE price Hike (As I dont have any investment in RE till date).....

    I am also like u guys, who is just seeing ups & down of RE in India, specially in pune...But still I dont subscribe the idea of 50% drop in RE prices.....India is not US to see 50% price drop due to problems US has seen i.e Sub Prime!!!!

    Don't be so emotional with RE price use your head as well to see the full picture...And don't see anybody who is frank enough to accept mkt realities as RE Broker or RE bull & don't see anybody who is yelling for 50% fall (Free fall) in RE since almost 1 & 1/2 year & keep increasing the time frame by a quarter by quarter as your "True" friend....

    No offense to any individual here...
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  • Not to criticize here anybody but these numbers/percentage which people love to throw are real gimmick.

    I agree that US housing market is not down by 50% but do you know its fact if you are staying in Nevda(Las vegas), Florida(Miami),California (San Hose). Rest other places RE market was down 5% to 40%. In any city there will be places where prices can literally fail 50% if those places were hyped with certain wrong reason like big SEZ plan which gets canceled (Ironically Kharadi plan got canceled but it didn’t see that much percent erosion may it was not hyped but builders in that area are cooling their heals).

    There is best book named ‘Freaknomics ’ which puts things in perspective about statistical analysts and so their called conclusions .

    Well I am also like Ashish sitting on fence waiting for RE prices to cool down for buying dream house :)
    Happy House hunting guys !!! :D
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  • Originally Posted by sam2008
    i dont think tht anyone had booked at the launch rate of 5600+ as at tht time RE was going from a rough phase. but pethkars have started getting booking when they reduced it to 5200 and then 4500 psft.

    I dont buy this statement, well may be true for Pethkar, but I was talking in general using this as a example. In general property prices have stagnated from begining of 2008.

    I personally know 3 people who have bought early 2008 and not cancelled their bookings(Not talking about Samrajya here). One is investor two are end users. End users some how keep themselves happy saying that, prices will reduce for all other projects but not their. Their project is good quality and builder does not negotiate much. The fact remains, had they bought today, they would have paid the same price or less with 15L more in their bank balance.

    But they are end users, joy they now get from living in their own house, cant be measured with money. So its ok to have 15L less in bank balance.

    Originally Posted by sam2008
    i dont see rates coming down to 2500 figures in near future in kothrud area. moreover rates r improving in many area and i doubt tht rates at samrajya may touch the initial figures.
    sam...

    Now think about that Investor, who bought thinking it was easy money, currently under the burden of 2 EMI, one for this own house and one Investment flat.
    What do you think he will do in comming 1-2 yrs. How long do you think he will keep this burden of 2 EMI? (Though I agree that many of the investors are with black money and done transaction in cash with no EMI on them. But though black money is easy money, every one loves to see it grow.)

    Would any one argue with me if I say that there are atleast same number of investors as end users who bought in boom time?

    Price is a pure function of Demand VS supply, Builder unsold inventory and Investors flats racing to get sold first in the market, what will happen?

    If tomorrow flats are sold at lower price in Neighbourhood, why will Samrajya not get affected? Price of anything is what similar thing gets sold in neighbour hood in the last transaction and not what we think.

    This reasoning is what makes more sense to me, so I write it, I can be completely wrong, I am common java developer man.

    Originally Posted by ash7979
    I am neither a RE bull nor I am celebrating RE price Hike (As I dont have any investment in RE till date).....

    Oops I forgot, I have investment in Pune RE already, but still I write what seems more logical to me.
    Originally Posted by ash7979

    Don't be so emotional with RE price use your head as well to see the full picture...And don't see anybody who is frank enough to accept mkt realities as RE Broker or RE bull & don't see anybody who is yelling for 50% fall (Free fall) in RE since almost 1 & 1/2 year & keep increasing the time frame by a quarter by quarter as your "True" friend....
    No offense to any individual here...

    No one is offended, you write what seems logical to you, I write what seems logical to me. The whole discussion is interesting because of different views.

    I am not emotional with RE, I write based on reasons that ROI for investors is in question now. Many investors will see their investment as bad investment.

    Time frame was increased, because builders got bailed out by banks in 2008. Anyway I have always maintained RE correction is slow process and takes lot of time. Dont see any reason why Builder will reduce the price unless forced to.
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  • i here agree with ashish. prices have not touched to 50% less than their launching rates. its true tht around 20 to 30 correction has been there. people who have booked in 2nd half of 2008 & early 2009 have got a good rate. i dont think those rates are going to come soon. already there has been much improvement in rates after lok sabha election and then after improvement seen in stock market. now Mr. PM has also declared the end of recession. this will boost these builders to increase their rates.
    one has to accept tht there has been bookings at various sites bcoz of which these builders are daring to increase their rates. fo re.g. the rates at pethkars were stagnant from jun 2008 till oct 2009 almost 1 1/2 yrs. now as they tend to increase there has been reduction in inventory. also when they can hold the upper floors for more period tht means they must be expecting higher returns from them.

    sam...
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  • Samrajya

    Has anyone booked flats recently at Samrajya? Is it negotiable below 3800?
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  • High price, no buyers.

    Hi Sam,

    Agree with some points but the FM has made it clear that fiscal stimulii will now be curtailed/pulled back. Again, if the builder raises the prices to illogically high level, there won't be any buyers.

    Median income & RE prices need to go hand in hand. If they push the prices very high again in short period of time, again RE will tumble. This has already been seen in Mumbai last month.

    Let's ask simple question:- How many of you will buy Samrajya at 5k+/sq ft?

    Originally Posted by sam2008
    i here agree with ashish. prices have not touched to 50% less than their launching rates. its true tht around 20 to 30 correction has been there. people who have booked in 2nd half of 2008 & early 2009 have got a good rate. i dont think those rates are going to come soon. already there has been much improvement in rates after lok sabha election and then after improvement seen in stock market. now Mr. PM has also declared the end of recession. this will boost these builders to increase their rates.
    one has to accept tht there has been bookings at various sites bcoz of which these builders are daring to increase their rates. fo re.g. the rates at pethkars were stagnant from jun 2008 till oct 2009 almost 1 1/2 yrs. now as they tend to increase there has been reduction in inventory. also when they can hold the upper floors for more period tht means they must be expecting higher returns from them.

    sam...
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  • No .. even after staying in US from last 4 yrs :(
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  • Originally Posted by realacres
    Let's ask simple question:- How many of you will buy Samrajya at 5k+/sq ft?

    NOT ME. For simple reason, I dont have that much money. I believe 2BHK has to be atleast 1200Sq feet else you wont have space to move around in your own bedroom after putting bed and wardrobes. So cost of 2BHK with 5k+/sq ft for 1200Sq feet would be almost 70L. I dont see any reason why would I buy a 800-900Sq feet 2BHK because /sq feet rate is more.

    I would rather rent it cheap. Considering cost of owning, rent is almost free :)
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  • Originally Posted by RAJESHP
    NOT ME. For simple reason, I dont have that much money. I believe 2BHK has to be atleast 1200Sq feet else you wont have space to move around in your own bedroom after putting bed and wardrobes. So cost of 2BHK with 5k+/sq ft for 1200Sq feet would be almost 70L. I dont see any reason why would I buy a 800-900Sq feet 2BHK because /sq feet rate is more.

    I would rather rent it cheap. Considering cost of owning, rent is almost free :)


    70L will yeild you 7L/annum with ease (10%/annum), which means INR 58333/month. Even after cutting the 30% tax, it would mean INR 40834/month. With this money, why Samrajya, I can rent a good 3BR at Boat Club Road, yet have this money safe which would have otherwise gone in builders' pocket.

    Now, how many of you would buy for INR 4000/sq ft?
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  • Originally Posted by bloger

    ALl Pune buyers have stopped thinking with brains, instead just falling for peer pressure and dummy talk by agents to justify high prices. If you are wise, this project should be demanded a tag of 2000 psf only. Whay say people ?


    Yeah,I also wish that I could get it at 2000 sq ft rate or I can get a 2BHK in area like Balewadi or wakad in 10 lacs or so (As I feel that that deserve that much only)....but reality bites me & I come out from my dream:D:D:D

    Everybody wish I could buy a C-class in 10 lacs or so (As its extremely expensive & those can not afford it)...so, do they get C-class in 10 lacs????

    ppls always argue that property prices are went up by 3-4 times in last 5 years, so most of ppls's salary as well...Why we dont say this when we get salary hike for 2-3 times in 2-3 years (this is true for govt babus as well, as after 6th pay commission those ppls also got salary hike like anything....A college professor earn almost a lac per month these days)....

    So, these are all factor which contribute RE price rise....I still think that in India buying your own house is a BIG sentimental issue (how may logic you apply behind this or do n numbers of calculations on this forum about Rent Vs Owing a house ,this fact wont change in near future, say in next 15-20 years)....So India wont see US like 50% fall in RE prices...If somebody waiting for that, then I ask him I have identified a good property in Balewadi (some members from this forum already know, about which property I am talking abt), if somebody can get that to me in 50% of its peak price then I will subscriber this 50% correction theory...otherwise if you show magzine articles that we have see so much RE downfall in particular area that doesn't make any sense for me....As it righly said in Hindi "jis Gali jana nahi, so uski baat karne se kya fayda".....

    So, stop criticizing anybody , who dont believe in big fall in RE....as those ppls advocating 50% correction here, they them self are not able to get their property of choice at those rates & I wont think they can get in in those rates in near future:):):)
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  • Moreover, I was just thinking where would I park my Tata Nano? If parking itsef cost 3L, is there
    any place in Pune where I can park Nano? or Nano will not be sold at all in Pune?
    Parking 1L car in parking space that cost 3L is like insulting the parking space.
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  • Originally Posted by ash7979


    Everybody wish I could buy a C-class in 10 lacs or so (As its extremely expensive & those can not afford it)...so, do they get C-class in 10 lacs????

    C-CLass was never sold at 10L, but flats were. Did C class command a price of helicopter in 3 years? The real problem is not C being sold at 10L but Maruti Alto being sold at 10L.

    ppls always argue that property prices are went up by 3-4 times in last 5 years, so most of ppls's salary as well...Why we dont say this when we get salary hike for 2-3 times in 2-3 years (this is true for govt babus as well, as after 6th pay commission those ppls also got salary hike like anything....A college professor earn almost a lac per month these days)....

    Ashish, does people constitute only IT? If you come out of this, you will see hardly 20-30% hikes in manufacturing, banking or in short non-IT sector.

    As far as 6th pay commission is concerned, the amount is not going to be paid in cash but at regular intervals with large component of Govt. bonds. For babus, they don't give damn about their salaries as they make much more in a month which IT guys does in an year:D. Personally, I haven't seen a professor earning 15l/annum salary in Pune. Even if yes, they are in minority & won't take even a single building to fit them in.:p

    So, these are all factor which contribute RE price rise....I still think that in India buying your own house is a BIG sentimental issue

    . But yes, I do agree that house buying is much more emotional in India.

    So, stop criticizing anybody , who dont believe in big fall in RE....as those ppls advocating 50% correction here, they themself are not able to get their property of choice at those rates & I dont think they can get in in those rates in near future

    Not owning a house is much better than go bankrupt. Man, there are much better things to do in life than buy a flat.

    Originally Posted by RAJESHP
    Parking 1L car in parking space that cost 3L is like insulting the parking space.

    Perhaps Mr.Tata should now manufacture portable garage too:D.
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  • Originally Posted by realacres



    . But yes, I do agree that house buying is much more emotional in India.


    Not owning a house is much better than go bankrupt. Man, there are much better things to do in life than buy a flat.


    Perhaps Mr.Tata should now manufacture portable garage too.


    Those ppls buy 70 lacs house wont Buy Nano:D:D:D

    And more of less I was not justifying the RE prices here (I also been affected by these prices)...I was just justifying the reason of RE demand in india & this answers itself justify that...So, I just want to emphasis that demand is not that low what ppls are thinking here for big fall I think that wont happen due to this demand which comes out every time we see drop in prices say 10-20%...
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