Tuesday, October 21, 2008

Is this the right time for NRIs to book a flat at Amanora Park Town?

Pune property buyers, give up the hope of property rates coming down!


Value for your Dollars!

In the present economic condition when Amanora ad claims that 'Towers 1 - 10 give you full value for your money', i assume that by money they mean Dollars, not actually rupees!

Because from finance minister of India to Aniruddha Deshpande, Managing Director, City Corporation Ltd. (promoters of Amanora Park Town), all need your dollars to come out of the current financial crises. So everybody is doing his best to convince you about safety and profitability of investing your dollars in India.

But how do you look at it? Because of the real estate rates, investing in Pune properties was not that attractive, but has the financial crisis changed it all? And what about those of you who are planning to return to Pune? Please, share your views in the comments. (Comments Policy)

Value for your Dirhams!

I asked my friend Pradeep, sales manager at Amanora, about the response. But Pradeep was in Duabi for MagicBricks.com Pune Property Show, Dubai on the day the ad was published so he could not tell me more than the number of calls received. However, in Dubai, Pradeep says, response was positive. Are you, Dubai? Please, share your views!

Return of Hedge Funds:

Commenting on my post Paranjape Schemes' Blue Ridge at Hinjewadi - An American Illusion? somebody called me on my mobile and explained that Hedge funds will sort out their mess by January and by middle of next year foreign direct investment will return to India. Till then it's your field.

What is your take?

What is your take on this investment opportunity in Pune real estate market, NRIs? Please, share your views in the comments and help us to prepare ourselves to give up the hope of property rates coming down!

Related Stories:

1) Investment opportunities for Non Resident Indian (NRI) in India

2) NRIs take advantage of the current situation of high exchange rates and interest rates - Venugopalan

3) India's steps to beat global crisis

4) India may register a Gross Domestic Product growth of 7.9 % in 2008-09, which may slip to 6.9 % in 2009-10 - World Economic Outlook projection

5) Amanora Park Town, Hadapsar: 400-acre model township for Pune

6) Congrats Pune real estate investors, for thinking irrationally and paying illogically high price for the newly launched property

7) City Corporation, promoters of Amanora Park Town, to build 50,000 houses in 5 townships for various income groups in and around Pune

8) Aniruddha Deshpande, of Amanora Park Town, to offer flats in 10 to 20 lakhs in his upcoming township in Pune

9) Temple of Environment in Amanora Park Town, Pune

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6 comments:

  1. Real estate prices in Pune have not come down till date, so obviously it's not a good time to invest. Secondly, western world is realising that they are entering in to recession (UK givernment officially declared today that they are going in recession)
    The biggest econimoies will be in recession by next 6 months and remain in slowdown for at least one uear there after. India will feel the actual heat then, currently what we see is only a trailer of the real show.
    It is more over a BIGGER risk to invest in under developed and very volataile economy such as India, so not a good option to invest at this time. Sad part of India is our own politicians and the great finance minister speculate and make brave statements that we are untouched, where as the fact is that aw are very vulnerable to any economic turmoils in the world. Take an example of real estate, 80% depends on NRI investments, isn't it?

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  2. Thanks for the comment, anonymous! It means you do not believe in the claim of expected growth rate of 6 % or do not find safety and conversion rate are attractive enough to invest in India. Right?

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  3. Considering the today’s market condition, what is the guarantee that the project will be completed on time? It has been already delayed by 4-5 months. I don't think it is secure to put your earned money in under construction project. It may not be true for the renown builders but whom should we say renown today. Really????

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  4. Why not contact Arindam or Girindam to buy at Amoarnoa Park (What a great name devised.. cant even pronounce it.. earlier days was much better - !!) Maybe he has 12 crore as mentioned here above and would buy a couple of flats in Amoriarnasewasfasdf ....

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  5. Indian real estate party is over. Soon the hangover is gonna start. Save your cash for the day to enslave the real estate fools.

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  6. Houses in UK are also not that expensive. In your one of blog, it shows bungalows of Paranjape schemes, which might cost at least 85 lakhs to crotes, in uk, similar houses in big cities (not london) might cost around 1.5 lakhs gbp which is around 1.2 crore in INR. Now, rental yields are also far better and assured one in UK. You can get insurance protection for that income loss from rentals as well. So, point is, Indian RE market has grown and become more expensive but other things like level of income, infrastructure from govt is not that gr8. Ppl (a.k.a. NRI ) want to buy just thinking like they can book profit after some time and if by any chance come back to india, they need some nest

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