NRIs & Investors, Right Time to Sell Your Properties in Pune and Earn Handsome Profits before Over Heated Pune Real Estate Market Goes Down!:
|Amit, Minneapolis, Minnesota, USA at The Times Property Showcase '11 - at Le Meridien, on 27th November 2011|
Amit has settled down at Minneapolis, Minnesota, USA. On vacation, Amit has come down to Pune. To be with his parents, meet relatives & friends. And to make important decisions about his real estate investments in Pune.
When Mr. Amit met me at Times Property Showcase at Le Meridien on 27th November, my real estate salesperson friend, working with one of the 'reputed' builders in Pune, and I were making sarcastic comments about each and every visitor in the property exhibition.
At first glance, i thought that Amit must have just comeback from 'the site'. Because of the Dollars earned at the site, he must be 'on high'. Curious to know who was the lucky builder in Pune who got this 'Bakara', i asked Amit, "Did you find your dream home in this exhibition?"
"Good exhibition! I had a plan to invest in Pune real estate. This property exhibition helped me to decide. Now, I am not going to buy property. But, sell!," Amit said.
"Surprising! I haven't heard anyone from US talking about selling his property in Pune!!," i said.
"Ravi, these are the smart people who read between the lines on your blog! Those who call you to ask about buying are poor fellows who have missed the bus and are repenting for not investing before 2007!," Amit said.
"Yes! I completely agree with you!! Those who can read between the lines are the smartest Pune real estate investors! But, i don't suggest they sell. In fact, i ask - where will you reinvest if you sell at this point of time? So, even i want to know why one should sell now!," I said.
"We, those who live in US and Europe, know that the world economy is in trouble. Even the finance minister of India has also accepted that the financial crises in these economies may - seriously - affect India. But, home buyers in Pune who are suffering - 'awareness lag' - still haven't realized that the situation is - risky. But builders in Pune are aware about the - impending danger - and are trying to make as much as they can before the market - goes down - property buyers stop booking completely. That's why they are advertising and participating in these exhibitions. So, it's a signal - an alarm - for the investors to sell their properties and en-cash the profit!," Amit said.
"I completely agree with you! That's why i urge all home buyers to stop booking a flat in an under construction or recently launched projects in Pune real estate market. And, if it's - urgent and important - to buy a home - at this point of time, please, go for the ready possession or a resale flat. But, why investors should not hold on? Don't you think that - if you hold 'now' - you can reap more appreciation when the market will come out of the danger - bounce back - like the last time?," i asked Amit.
"How can you hold on the property for a couple of years more - which has become 'unmarketable' - not worth buying - today itself? You know? About 5 year old properties in Pune - which look like "रद्दी" - old newspapers today - may become "भंगार" - junk - in the next 3 - 5 years - you know? - even most of the properties in the recently launched projects in Pune - i visited in this vacation - 2 BHK for 60 and 70 lakhs - or 3 BHK for 1.3 Cr - may not be able to hold their prices - so - point is - home buyers can afford but the investors can't afford to ignore the actual worth of the property - so - investors sell your properties now!," Amit said.
"Yes, you retire the horse with a broken leg. We know that 'doping' athletes and 'match fixing' cricketers vanish. I agree with you about selling investment properties in Pune. And, not investing in the recently launched projects at the irrational property prices. But, Amit, tell me - What are you going to do? - Where my NRI investor readers should invest?," i asked.
"I am going to invest in USA! I am going to get a loan at 4 per cent and invest in a 150 Thousand Dollar Property - around 77 lakhs rupees - which will give me rental income of around 60,000 rupees - 1150 US Dollars - per month! Can i get that much income from your 77 lakh 3 BHK Flat in Wakad or Kharadi in Pune? If not - then - why should i remain invested in Pune real estate market?," Amit said.
"You know? Amit you sound like Bhushan, my cousin in Sydney Australia. He says - Ravi, you write about Pune real estate market but invest in Sydney!," i said.
"Follow his advice! In fact, every Punekar who has a relative or a friend - should sell his investment properties in Pune and invest in US or in any developed economy!," Amit said.
Dear NRI readers, you always comment about getting better property in your country at the same price builders in Pune demand.
Now, please, share your comments on Amit's views! Is it the right time to sell your properties in Pune and invest in US or in your city in Europe and Australia?
I don't know whether investing in US is more profitable or not. But, i know well that this is the right time to sell your investment properties in Pune.
Dear, NRI readers, please, keep in mind that Pune property buyers are ready to buy your property in the known areas of Pune - than going for the under construction projects - in odd locations or - in the fringe villages - which will be delayed in the uncertain economical and political 2012 - 13!
1) WEDNESDAY, AUGUST 17, 2011
Buy a ready possession flat until there is no real estate regulator!
2) FRIDAY, AUGUST 19, 2011
Why do we borrow at high interest rates and offer interest free funds to builders?
3) MONDAY, AUGUST 29, 2011
An Agreement to be a Slave of a Builder
4) FRIDAY, SEPTEMBER 9, 2011
High Property Prices - Why does Government give a free hand?
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