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Market trend 3 months down the line

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Market trend 3 months down the line

Last updated: November 20 2009
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  • Market trend 3 months down the line

    Hi,

    From last one week I have been going through various threads of this forum. Really good piece of information. I am going to start my house hunt starting the coming weekend. I am preferring areas like PS and Bavdhan. My observation after going through this forum is that the rates varies between 2700 - 3200 psf in these area (don't know if I am correct). I will be looking various projects and will be updating the forum accordingly. I had called few builders and they are saying that they are going to increase their price from next month or so. I was just curious to know how much true is the fact that as recession in IT is almost over rates will go up now. And in case rates increase how much rise we can expect in near future or it's going to be other way (price correction kind of thing)?

    Also what should be the total price range one can eye for in these area?
  • #2

    #2

    Re : Market trend 3 months down the line

    Personally, I don't think there is any scope for increasing the rates as the ground reality hasn't improved much. Though the fear of job-loss has reduced, there won't be salary hikes as they were earlier in many sectors especially IT. Taking this into consideration, people will buy on current finances rather than 'speculated future incomes' as they did till early 2008. Everyone knows that ROI hike will be there by first quarter of 2010.
    However, largely sold ready poss projects may not decrease the rates. Hence, if you are getting good deal for ready poss projects, think about that as the max demand is going to be ready poss or very close to poss projects especially in city areas like Kothrud where the buyer is from various sector & not dominated by IT like that seen in Balewadi.

    * PS:- If pricing even for ready poss is illogical, people won't buy ready poss projects even in central city limits. The classic eg. is that of Amit's projects at & near Sahakarnagar.
    If you are happy, you are successful.

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    • #3

      #3

      Re : Market trend 3 months down the line

      Resale

      I agree! On the similar lines what could be the thought for a resale flat in case the new one does not cater to all the requirements such as price, locality, late possession and many more. I would prefer a resale flat not older than 5 years closer to city. And for resale one more factor gets added is the brokers fraternity.

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      • #4

        #4

        Re : Market trend 3 months down the line

        Realacres,

        I have been following the posts on this site and your (and others) comments on correction and it makes sense. But on visiting the sites and looking at the rising rates in the last 2-3 months, I really dont know how long to wait for. I mean we are probably a bunch of 100 odd people coming on to such sites and trying to apply common sense(which is not so common). But there are many out there who just do not bother and buy at whatever rate available. So the prices would never come down it seems. A chicken and egg situation I must say..which has caused my 'bheja fry'

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