Pune builders & Pune property buyers are in deep trouble:
Recently I had a cataract operation. For some time, I was totally cutoff from Pune real estate market. Now, doctor has permitted to work for some time. On 919860044110 I have started offering advice about buying a home in Pune. I have started reading conversations of property buyers' groups on WhatsApp. I am back in the land of fear. I am back in Pune real estate market.
In this land of fear, every Pune property buyer is under never ending fear. Starting with fear of rising property prices. Fear of may not be able to own a home. Fear of delayed possession. Fear of poor construction quality. Fear of occupying a flat which has not received completion & occupancy certificate. Fear of no water supply. Fear about builder not forming society. Fear about builder not complying with the conveyance deed. Fear about not becoming a true owner of the property.
But you know what? When i visited Facebook, ePaperBeta.TimesOfIndia.com & Online3.eSakal.com I realized that the builders in Pune are also under never ending fear. Fear of inventory of unsold flats. 67,557 Unsold flats - 70.64 msf in Pune. Fear of getting wiped out of business. The builders in Pune are in fact more frightened than Pune property buyers. Particularly, the 'so called' big builders.
Unable to find a solution for getting out of the deep trouble, these builders have gathered together under the leadership of Mr. Sujay Kalele, CEO of Kolte Patil Developers Ltd. (Yes, both still exist!)
Our "channel partners" - means the estate agents - the brokers - are the main culprits. These channel partners on whom we were depending for so long have let us down. Because of these lazy channel partners we are not getting bookings. We have to get rid of these buggers. All big builders agreed.
We have to eliminate the human element from our business. Like all humans these channel partners are also filthy animals.
We are here to exploit all filthy animals on this earth.
To exploit these filthy animals we have to use technology. Digital marketing technology. Amuratech.
All agreed. No one objected.
Because everyone is in this business to exploit human beings. Not to join hands with them or to serve them.
But, there was one problem. The print media houses.
If we go digital the traditional print media houses will get angry with us. A few builders feared. After all these media houses have invested in these builders' companies.
Don't worry. We will give them their cut. Ads and paid news. It's a matter of our survival. Some builders assured.
But wouldn't it create an impression that all of us are in deep trouble? One builder objected.
Aren't we all in deep trouble? Someone said.
Launching big digital marketing campaign means accepting that all real world efforts failed miserably. One builder objected.
Don't be too realistic. Be digital. Go national. Go global. Go world wide web or go down the drain. Someone said.
All agreed. Indian Realty Flash Sale was announced. And the farce began.
Indian Realty Flash Sale created digital terror. Visit www.IRFS.in & short list the projects. Only a few units are available at discount. Digital discount coupons available from 25th. Download coupons. Rush to the sites in the next few days. If you are late you will miss the discount offer.
Digital terror creates digital anxiety. May make some anxious in real life too.
And those who are anxiety prone may visit the sites.
Will these anxiety prone guys book a flat?
Because these guys will anxiously wait for more discount. More drop in property prices.
Now, these price conscious anxiety prone property buyers have the digital proof that Pune builders are in big trouble and they are ready to reduce the property prices.
If we don't book for a few more months - just 6 - 7 months - we can break the builders. We can force these builders to reduce the prices.
The price conscious property buyers will overcome their anxiety and will become brave. Thanks to that discouraging & disappointing experience of site visit.
Now, the long expected price correction looks possible - in very near future. These Pune property buyers will tell themselves.
And they will come to conclusion that - this is not the right time to book a flat in Pune real estate market!
Of course, all mainline news medias will publish the news stories about the huge response to Indian Real Estate Flash Sale. The so called news stories will talk about the number of digital discount coupons downloaded.
Because one can download as many discount coupons as one wants - for free - I have downloaded all Pune property coupons. The overall worth of my downloaded coupons's properties is a few crores. Means, a few thousand people are enough to claim a sale of a few crores. What a farce!
Some are not going to enjoy this farce. Particularly the investors and those who have already booked in these projects.
If a Pune builder can't sell under construction property at the current rate for payment in installments - who will buy from me - ready possession property - at the higher appreciated price - by one stroke - lump-sum - payment? Investors are worried. But this is not all.
These investors are always prepared for less appreciation. But not for loss. Though they know that loss & profit are two sides of the same coin.
However, no investor can think of losing his capital.
Because of the IRFS farce these investors will withdraw their investments as fast as they can.
But how many builders are in a position to repay the principal amount?
For the investors it's only about money. But for the actual home buyers, this farce is the confirmation of impending tragedy.
The good names will frighten him. Now, it's not only about big builders. Not only limited to Kolte-Patil, Amanora, Pride Purple, Tata Housing & Panchshil. Now, even Godrej, Nyati, Saarrthi, Kasturi & Nandan are also in the line. Sad. Very sad. He will say.
Will my builder be able to complete the project in which I have already booked a flat?
How can I keep on paying pre-emi & rent if my builder delays possession indefinitely?
Did I make a mistake of booking a flat at the launch of project?
Was it stupidity to go for a big brand in Pune real estate market?
If my builder reduces the property prices for new bookings - will I get that reduced rate - even if my flat agreement is registered?
What if my builder becomes bankrupt?
The actual home buyers who have booked the flats in Pune real estate market are worried.
But no sales executive or builder is available to answer his questions.
Or there is no digital answering system for these filthy animals on earth.
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