<!-- Facebook Pixel Code --> <script> !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '351567535614080'); fbq('track', 'PageView'); </script> <noscript><img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=351567535614080&ev=PageView&noscript=1" /></noscript> <!-- End Facebook Pixel Code -->

Sunday, November 23, 2008

Trying hard to stay afloat

"Best friend turned on me. What to do?"

When i read this story in today's The Economic Times, I felt sorry for all builders in Pune. ET published this on the same day, when Property Times has organized it's most prestigious event at Le Meridien. How sad! I think Pune real estate developers should try Yahoo Answers or appoint a media manager immediately! Have a look:
Driven by the booming IT business, Pune’s property prices had shot up to exorbitant levels over the last four years as builders sold flats at up to thrice the rate prevailing earlier. Following the slowdown, demand suddenly dropped and property prices fell by up to 30%. Though builders refuse to accept, they are now open to negotiate with serious buyers.

A source said, “Customers have postponed purchases hoping that prices and interest rates will drop. With reduced demand, and thus shortage of funds, builders are postponing schedules of handing over possessions and launching new projects. Some have even stopped work due to lack of funds to source raw material.
To read more, please, visit - Omkar Sapre - The Economic Times

Related Story:

Pune builders will not see any cut in home prices

Subscribe for free to receive hot Pune real estate news, views and reviews:

1) Ravi Karandeekar's Pune Real Estate Market News Blog

2) Ravi Karandeekar's Pune Real Estate Investment Blog

3) Ravi Karandeekar's Pune Real Estate Advertising and Marketing Blog

4) Ravi Karandeekar's Pune Real Estate Blog

5) Please, feel free to call me on my mobile +91 98600 44110! I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so i do not charge anything for the first 8 minutes!)

6) Please, join me on Friendfeed, to share news articles, family photos, interesting links and videos and let us discover and discuss information!

Visit Ravi Karandeekar's Pune Real Estate Blog Group and join for free to receive updates of all blogs!


1 comment:

  1. Today I saw this analysis. Really GOOD!
    http://www.moneycontrol.com/india/news/business/lessons1996-realty-correction/367709

    ReplyDelete