Hello to all,
I have started the search for my first flat since last month and quite dissapointed looking at the market the way it is. I have been mainly searching in Baner / Balewadi / wakad areas.
My budget is around 65 L could be stretched to 68 L max and i think this should be good enough to buy a decent 2 bhk around 850+ carpet in good society. I am not behind many amenities just a secure society.
i have visited many projects during my search regencey classic, yuthika, comfirt plus, kalpataru splendour, harmony, ivana, GK rosewood, royal rahadki, pebbles2, panache, prolife and many more.
few of those i had visited in first 2 weeks of jan and visited again in feb meanwhile builders have raised the rates by atleast 200/sqft. so the negotiation which would hahev happen on the original cost will now happen on the current cost the the buyer gets the flat at a cost which was original cost of the flat a month back..... Is this right? and is the market booming in such a way?? or is it a straight loot.
I have read many threads and users have commented 'dont be in hurry' wait for the right property, keep searching... etc.. I agree but then if i wait and keep searching they keep on increasing the rates and soon the flats will become out of my reach.
i am sure this would be the case of many of us. this is frustrating...:(
need your comments on current market trend and suggestions on few good projects fitting my needs.

Thanks in advance.
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  • Originally Posted by ShineShine
    Hello to all,
    I have started the search for my first flat since last month and quite dissapointed looking at the market the way it is. I have been mainly searching in Baner / Balewadi / wakad areas.
    My budget is around 65 L could be stretched to 68 L max and i think this should be good enough to buy a decent 2 bhk around 850+ carpet in good society. I am not behind many amenities just a secure society.
    i have visited many projects during my search regencey classic, yuthika, comfirt plus, kalpataru splendour, harmony, ivana, GK rosewood, royal rahadki, pebbles2, panache, prolife and many more.
    few of those i had visited in first 2 weeks of jan and visited again in feb meanwhile builders have raised the rates by atleast 200/sqft. so the negotiation which would hahev happen on the original cost will now happen on the current cost the the buyer gets the flat at a cost which was original cost of the flat a month back..... Is this right? and is the market booming in such a way?? or is it a straight loot.
    I have read many threads and users have commented 'dont be in hurry' wait for the right property, keep searching... etc.. I agree but then if i wait and keep searching they keep on increasing the rates and soon the flats will become out of my reach.
    i am sure this would be the case of many of us. this is frustrating...:(
    need your comments on current market trend and suggestions on few good projects fitting my needs.

    Thanks in advance.


    C...its abt how much cash u have to do a down payment , the kind of property that u r looking for, which determines how much time u can or should wait. ..from my experience. ..2 to 4 months of research n waiting n searching should b enough wen u have made up your mind to buy a house. ..Any more waiting than that will only make u stretch ur budget.. if u can't find a flat in this much amount of time in a locality or a set of localities u should look in other localities. ...Don't wait too much... come what may. ..

    Sent from my GT-N7100 using Tapatalk
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  • That's the reality of Pune real estate market. It took me more than 6 months to find a decent apartment and I ended up paying 4 lakhs more than my initial estimate. From my personal experience I can say that property rates increase by Rs 50 to 100 per month. This is not a rule but an observation about the areas you are interested in.

    And loot is not limited to the rates.


      Costly parking.
      100% charge for terrace
      Charges for so called amenities like club house, gym, pool, amphitheater etc. I don't find it worthy in most cases.
      Difference between sample and actual apartment. What you see is not what you get.
      Delay in possession.

      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
      I know its frustrating but this is how it is.

      If you think you have found the right property then paying little more is worth it!
    CommentQuote
  • Originally Posted by ShineShine
    Hello to all,
    I have started the search for my first flat since last month and quite dissapointed looking at the market the way it is. I have been mainly searching in Baner / Balewadi / wakad areas.
    My budget is around 65 L could be stretched to 68 L max and i think this should be good enough to buy a decent 2 bhk around 850+ carpet in good society. I am not behind many amenities just a secure society.
    i have visited many projects during my search regencey classic, yuthika, comfirt plus, kalpataru splendour, harmony, ivana, GK rosewood, royal rahadki, pebbles2, panache, prolife and many more.
    few of those i had visited in first 2 weeks of jan and visited again in feb meanwhile builders have raised the rates by atleast 200/sqft. so the negotiation which would hahev happen on the original cost will now happen on the current cost the the buyer gets the flat at a cost which was original cost of the flat a month back..... Is this right? and is the market booming in such a way?? or is it a straight loot.
    I have read many threads and users have commented 'dont be in hurry' wait for the right property, keep searching... etc.. I agree but then if i wait and keep searching they keep on increasing the rates and soon the flats will become out of my reach.
    i am sure this would be the case of many of us. this is frustrating...:(
    need your comments on current market trend and suggestions on few good projects fitting my needs.

    Thanks in advance.


    are you sure ? price rise in current market conditions looks unlikely...things will only pick if Modi comes into power...

    RE is going through tremendous strain and many builders are at serious risk of defaulting...so avoid under construction projects from tier-3 builders...either buy RTM ....or UC from a big builder

    waiting for price drop is never a good idea...no one can time market...things only look clear in hindsight

    still...no need to hurry up either as runaway price rise from here is unlikely
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  • Your encounter has just begun, there are no. of encounter specialist in Pune RE and few of them listed on this forum.

    Before buying anything please go through this forum.

    Buying ready possession is good idea as you buy what you see but ready possession will not negotiated much as today all the demand of property is in ready possession and resale.

    By my experience every time market is ahead of our budget so some day other we have to stretch the budget if possible.

    Under construction properties will give you better deals depending upon cash you have but again there is risk of completion time.

    Searching home is tiring process and you have to keep your spirit up as every time you will come across encounter specialists.
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  • Thank you all for jumping in and providing your inputs.

    I agree that its a little time consuming process and one should wait for the right property.
    My concern is the sudden rise of rates. in every couple of weeks they are raising the rates by 100 - 200 rs / sqft. if we say the market is not having best of times then why builders do that.
    I just fear that if i wait even a month more then the rates would be in 6k+ and the flats would become affordable. right now i have a decent budget of 68L which i think should suffice my needs for a decent place but that does not look like the case.
    I want to know on what basis the builders are hiking the rates?? is government raising any taxes so rapidly? No, is economy booming? No, dollar to rupee keep on falling. Are payments increasing ? no... then what basis the property rates are going up this high. I knw few project who have increased the rates by 600 - 700 /sqft in a span of 5 -6 months. How can this be justified and where are they going with this?
    CommentQuote
  • Originally Posted by ShineShine

    I want to know on what basis the builders are hiking the rates?? is government raising any taxes so rapidly? No, is economy booming? No, dollar to rupee keep on falling. Are payments increasing ? no... then what basis the property rates are going up this high. I knw few project who have increased the rates by 600 - 700 /sqft in a span of 5 -6 months. How can this be justified and where are they going with this?


    This is pure play of attacking on psychology of consumers by the builders. They are forcing this “abhi nahi liya to pachtaoge” and “gaadi chali jayegi” mind play.
    They know few realities upfront:

    1) This is a lull period and buyers are not queuing up to buy anything and everything thrown to them (rising inventory and so many adds of giving discount and free stamp duty+registration and other goodies offer proves it)
    2) They very well know how to hold inventory now and attack the mindset by increasing the rate 50-100 psf every fortnight/month.
    3) They also know the root cause of the desperation.. The peer pressure.. the comparison that my friend bought and so should I and wifey gossip attack “mr. And mrs Sharma bought 3 BHK” we should also buy now (hell with interest rates/loans/emi)..

    All might not be applicable to you but you cannot deny it happens.


    This tactic is similar to shopkeepers asking exorbitant price from new bakras and people from outside.
    However the technique remains the same in both cases:
    1) Check many shops/many builders before finalizing the product
    2) The check should be on price/quality/VFM in both case
    3) The builders/shopkeepers behaviour to you (vedanta’s mr shah is known to be rude.. still people are helpless i wonder why and GK are increasing rates and not doing agreement..heights of stupidity so stay away from that)
    4) Don’t show salivation/desperation to builder/shopkeepers or they will have upper hand and do the give the final price and walk away technique and if played card right he’ll call you repeatedly :) (first-hand experience)
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  • The best answer for your question in that 'Demand"
    Demand of people in mentioned areas is Big.. i.e why builder in PS,PN,Wakad area not negotiatinng much..they are negotiating just by 20to 30sq/Rs.
    And pepole are ready to pay for it... because ultimately they want home .. at good locality ...
    When you go for search.. you will come to know how many people are there in your race...and no. of properties,buiding is less compare to requirment,,,
    If you compare the rates of pune to Bangloar or hydrabad. IT is more...
    Also each location is having diffrent rates, not for the quality which is you are buying for..and Govenrment is not having any control on it... they are happy in earning Vat,Stamp duty,LBt,etc...
    so.. Happy Hunting...
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  • Very old question and the same old answer

    If you are an end user and plan to live there for atleast 5 years and have willingness and ability to pay buy a ready to move house.

    Believe me it will give you a peace of mind you have never experienced

    If you are kind of who have just 20 percent cash and relying on bank funding and have small family then find a house on rent with long term lease 5 years ... Bit hard to find but landlords are greedy and they fall for 1 year advance rent. Once you have found a houseon long term lease go and book any property which is just launched and offers construction linked plan.

    This works and has worked for many who are in contact with me. Try it do some math and please post your own findings.
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  • Originally Posted by ShineShine
    Thank you all for jumping in and providing your inputs.

    I agree that its a little time consuming process and one should wait for the right property.
    My concern is the sudden rise of rates. in every couple of weeks they are raising the rates by 100 - 200 rs / sqft. if we say the market is not having best of times then why builders do that.
    I just fear that if i wait even a month more then the rates would be in 6k+ and the flats would become affordable. right now i have a decent budget of 68L which i think should suffice my needs for a decent place but that does not look like the case.
    I want to know on what basis the builders are hiking the rates?? is government raising any taxes so rapidly? No, is economy booming? No, dollar to rupee keep on falling. Are payments increasing ? no... then what basis the property rates are going up this high. I knw few project who have increased the rates by 600 - 700 /sqft in a span of 5 -6 months. How can this be justified and where are they going with this?


    Its a very simple but effective tactic adopted by almost all builders. If people see SAME rates between two visits (even after 2 weeks), people will think the builder is not able to see his stuff and hence keeping the rates constant. This shifts the power to consumers.
    Raising rates without any justification creates that panic & Deprivation (thing is about to go out of hand) syndrome and people fall into the trap.
    I have personally experienced this with GK when i visited their site, took quotes, did a bit of nego and returned after 10 days (had gone out of pune) to find rates hiked by 75-100 Rupess!! The builder said that this is the new rate since they booked few flats last week!:(
    I was so freaking pizzed..and argued with shameless sales people. They offered a discount of 100 Rs but i walked away..they called atleast 5-7 times and since then i have not visited any GK sales office :o
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  • In areas like Balewadi, prices have been inflated by builders as well as by brokers too. The only negotiations I have seen are in resale flats when purchasing directly from an owner & that is only because those who booked 3-4 years back have seen good appreciation & want to sell their flats quickly. Builders are unwilling to negotiate because most of these builders are not losing much money considering that they had purchased the land for peanuts. Many builders can afford to delay their project launch till they think that the market is hot. In Balewadi, that is exactly what is happening. There is a sudden demand & you see new launches after many years.

    Personally, I think that your best bet is to look for resale flats & you may get lucky to find an unoccupied flat. You have better negotiating power. Plus in many cases, the amenities in societies are not functioning and can be used to reduce the price of the flat.

    Here is what you can do - find a society that you like, check online and see if any flats are sold directly by the owner. Alternatively, meet the chairman & show interest in the society. Then see if you can get information about resale flats & contact numbers of their owners. Call them directly. I have also heard cases where you see a flat through a broker, meet the owner and then deal directly w/o broker.

    Good luck !
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  • thanks nepolean.
    couldnt agree more lifeasver, picard and needhomenow.
    peerpressure, demand, increasing rates ultimately contibute to the panic & Deprivation. at many places i have seen people blindly booking from onsite without much enquiry or nigotiation this is also a huge factor for PS,PN n wakad situation (just my thought).
    so the current trend of builders is take it or leave it, they dont bother about selling the place instead if they keep it for a lon period it will only fetch more money for them with higher rates.
    GKs tactic of not opening all buildings for booking (in rosewood or rahadki) is for the same. ready possession flats would yeild them more money then underconstruction. so the thought of "abhi nahi to kabi nahi" and " things will get out of hand" would ultimately be true if they keep on increasing the rates on our every visit because even in IT i dont see the salaries increasing in the simmilar fashion or ratio.
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  • Originally Posted by pnq2012
    Here is what you can do - find a society that you like, check online and see if any flats are sold directly by the owner. Alternatively, meet the chairman & show interest in the society. Then see if you can get information about resale flats & contact numbers of their owners. Call them directly. I have also heard cases where you see a flat through a broker, meet the owner and then deal directly w/o broker.

    Good luck !


    Thanks pnq2012, i tried that too with some good societies in balewadi and sus road (not may though). first time in my life i heard of waiting list of buyers for resale flats in some society.
    a good society with security and a decent location is always in demand. owners know it so do the brokers... and we know even the security guard is a broker these days...
    I did like a couple of resale flats but the owners were not ready to wait for the entire amout to be paid even for a months time.
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