A Pune-based developer may have a solution — at least temporary—for the hundreds of realty firms faced with dwindling de-mand for homes: Rent out apartments and hard-sell apurchase option to the tenants.
Mont Vert Homes has kicked off a ‘Rent Today Own Tomorrow’ campaign, inviting potential buyers to rent apartments of their choice on 11-month contracts, with the option of buying the flat anytime in the interim.
Developers sold between 50,000 and 65,000 new apartments in Pune annually in recent years when the economy was booming.
Sales will lag significantly behind those numbers in 2009, according to Jayant Kaneria, another director of Mont Vert.
Sales had skidded to “near-zero levels” between August and December.
“It has now revived slightly with single digit sales after the price corrections but the situation is unlikely to improve before July,” he said. ...read more-livemint...
It's good news for Pune property buyer when the builder accepts the truth and finds solution!It has happened before. We property buyers have seen the benefits of it. I am referring to Mont Vert Seville at Wakad. Which set the trend of "compact flat fitting in your budget". 2 bhk flat in 29 lakh!
When Mont Vert accepted the fact and decided to break the property price barrier and bring down the budget of the flat in the affordable limits, other builders followed the trend and launched "compact flats which will fit into your budget".
1) Palash 2i at Wakad
2) Pride Purple Group's Topaz Park in Park Street at Wakad
3) Recently launched Amit's Astonia at Balewadi
4) Gera's Park View 1 at Kharadi
5) Runwal Group's Euphoria at Kondhawa
6) Shagun Developers, Manav Promoters and Ashcon Builders' Sunshine Hills near Bishop's School at Kondhwa annex, means Undri
7) Even Kunal Sancheti Associates are launching one wing of compact flats in Venezia at Baner!
What a way to wait till the property rates come down!More than the success of Mont Vert's "Rent Today Own Tomorrow", for me, what is important is the possibility of many builders following this solution to mounting inventory and offering my readers, Pune property buyers, "rent free falts to live till the property rates come down!"
Isn't it good idea to finalize your flat, live in it, save rent for the down payment but buy your flat only when property rates come down? I find this is cool. Please, share your views in the comments. (Comments Policy),
Feel free to call me: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 5 minutes!) Call +91 98600 44110
Subscribe for Free!To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog
For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group