To hell with Pune builders!The reluctance of several real estate developers in Pune and Mumbai region to scale down property rates in keeping with the market gloom has turned into a business opportunity for players from other states.
Sensing a good business opportunity, they are entering the Mumbai-Pune ring.
They are wooing buyers, originally from their states, back home with the promise of an affordable home.
This trend is not new, but this is perhaps the first time builders are looking at weaning away potential buyers from big cities such as Mumbai, Delhi and even Dubai.
Real estate players from states like Karnataka, Andhra Pradesh and Kerala are showcasing their properties in the city at a corporate level, giving customers the option to own a house in their homeland at much lower rates.
To read more, please, visit - Indian Express
Hail Pune real estate!Sure, Pune and Mumabai builders are providing good business opportunity for the real estate players from Karnataka, Andhra and Kerala.
But more than that, Pune and Mumbai real estate is doing "great services" to local property buyers in these states. Considering the response of "Pune Property MahaYatra", organized by PBAP and Pune Sakal, I am sure, property rates in these states will come down substantially!
By organizing "Pune Property MahaYatra" in Kolhapur, Nashik, Nagpur, Aurangabad and Goa, Sakal convinced 25 Pune builders that they don't have an option but to reduce the property rates and launch "quality affordable housing projects" at "good" locations in Pune.
1) Darode Jog (re)launched thier "Greenland-county" at the property rate of Rs.2,350 per sq.ft. at Narhe Ambegaon - off Sinhagad Road
2) Amit Enterprises launched Amit's Astonia at Balewadi, offering a 2 bhk flat in 25 lakhs (all inclusive)
3) Goel Ganga Group launched "Good Value Homes" in the range of Rs.18 lakhs to Rs.30 lakhs at Sinhagad Road, Aundh Annexe, Chinchwad and Undri!
4) Kumar Properties launched Swastipuram, a 1 and 2 BHK apartments scheme near S.P. Infocity, Phursungi. Prices start from Rs. 9 lakhs (inclusive of all expenses)
5) Kolte Patil launched "Umang Homes", 1 bhk, 1.5 bhk, 2bhk flats starting from Rs. 11.22 lakh, in their 80 acre township "Lush County" in Wagholi.
Thanks Sakal! Your "Pune Property MahaYatra" proved to be the beginning of an era of budget homes in Pune real estate market. Now, Pune property buyers can say proudly, "Hail Pune real estate!"
View Affordable Housing Projects in Pune Real Estate Market in a larger map
6) Gera's Park View 1 at Kharadi,
7) Sunshine Hills near Bishops' School at Undri - Kondhwa annex (!),
8) Kenjale Pophale Associates' Spring Meadows at Ambegaon,
9) Runwal Groups's Euphoria at Kondhwa Budruk, opp. Talab Factory offering 1, 1½, 2, 2½, 3, 3½ BHK flats and
10) Sara City, a 50 acre mega township at Chakan, offering 1 BHK flat for Rs. 6.99 lakh, these projects offer good options of affordable housing for Pune property buyers.
How to negotiate the property rate of a luxurious housing project in Pune?By now, i am sure, you must be convinced about the "uniqueness" of Pune real estate market. Here demanding, abusing, complaining about not reducing property rates or even "waiting without booking" is not going to work.
Pune builders are not going to give up so easily. They are shrewd and resourceful marketers. In the second half of 2008, when property buyers practically stopped booking a flat, without substantially reducing the property rates of their on going projects, Pune builders took a diversion and opened a new market of an "affordable homes" and secured their position.
Now, while negotiating the property rates of on going "luxurious" projects in Pune, you have to really work hard.
In last couple of months, there is no "new supply of properties" in this category. On weekends, if you visit any site office, you can see that property buyers have started visiting. Not only that, actually, bookings are happening. Most important point is, Pune builders know how to market their projects in recession.
In this recessionary market, when there is less supply and enough inquiries to boost the moral of salesperson, do you think you will be successful in convincing Pune builder to be reasonable about property rates of his on going "luxurious" project?
For example: How can you convince Darode Jog to reduce the property rate of Crossover County on Sinhagad road? If you try to negotiate Rs. 3,500 per sq.ft., they will suggest you to go for the 'rational' property rate of Rs. 2,500 per sq.ft. in Greenland-County, off Sinhagad road!
Please, tell us in the comments (Comments Policy),, how are you going to convince the Pune builder to reduce the property rates?
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