I have got confirmed news from one of family friend who works with one of the reputed builders (from Pune), that property market in Pune is getting worse day by day. Many people who has signed but not made agreements are cancelling the deals (due to job conditions). Plenty of new projects are at High Risk. Many wise builders stopped the launch of new projects.
People don't have money to pay EMI. Investors are not getting good rents. They want to sell off.
All in all, by Diwali rates will be down, if not the same.
You still can buy a flat if you have secured job and enough of money in hand. Those who want to take loan (more than 10L), please don't take risk.
I think its a logical step
Consider
1. Weak demand due to eco condition.
2. Tight liquidity.
3. Speculator abandoning their investmants.
4. Over-leveraged builders.
Its a buyers market!
physical sign
1. No construction activity or very low activity at project site.
2. Stalled projects.
3. Inferior quality in building.
Till affordability increases, it is one way street. Down
Avoid rate hype by builders and their cronies. Stock market rise is
sentiment based not supported by fundamentals. Avoid the trap.
Try for these ready possession investor flats. Wait if possible
I do subscribe to the dooms day prediction for the real estate market. There would always be scope for correction but never a major crash where you expect rates to touch 1500 or 2000 in decent areas.
I checked out Pimple Saudagar today MGK is now quoting 3000 on paper and ready to negotiate very little until you confirm booking by cheque. Also, even then he is not doing too much reduction.
I also checked out Laxmini Aangan and even they are quoting 3000 today. I did not even ask how much they were bargaining. This means the market has actually gone up. I also saw lots of people enquiring and some even booking flats. All places i saw Rajveeram, Laxmini Aanganem, VSuncrest in PS were having decent amount of people.
I may of course be wrong but with market being a little stable and signs of recovery coming in i think the worst in real estate has gone by.
This is strictly my personal opinion.
People don't have money to pay EMI. Investors are not getting good rents. They want to sell off.
All in all, by Diwali rates will be down, if not the same.
You still can buy a flat if you have secured job and enough of money in hand. Those who want to take loan (more than 10L), please don't take risk.
I think its a logical step
Consider
1. Weak demand due to eco condition.
2. Tight liquidity.
3. Speculator abandoning their investmants.
4. Over-leveraged builders.
Its a buyers market!
physical sign
1. No construction activity or very low activity at project site.
2. Stalled projects.
3. Inferior quality in building.
Till affordability increases, it is one way street. Down
Avoid rate hype by builders and their cronies. Stock market rise is
sentiment based not supported by fundamentals. Avoid the trap.
Try for these ready possession investor flats. Wait if possible
I do subscribe to the dooms day prediction for the real estate market. There would always be scope for correction but never a major crash where you expect rates to touch 1500 or 2000 in decent areas.
I checked out Pimple Saudagar today MGK is now quoting 3000 on paper and ready to negotiate very little until you confirm booking by cheque. Also, even then he is not doing too much reduction.
I also checked out Laxmini Aangan and even they are quoting 3000 today. I did not even ask how much they were bargaining. This means the market has actually gone up. I also saw lots of people enquiring and some even booking flats. All places i saw Rajveeram, Laxmini Aanganem, VSuncrest in PS were having decent amount of people.
I may of course be wrong but with market being a little stable and signs of recovery coming in i think the worst in real estate has gone by.
This is strictly my personal opinion.
