tag:blogger.com,1999:blog-5269558537262232516.post2582146479835585099..comments2024-03-28T14:01:25.631+05:30Comments on Ravi Karandeekar's Pune Real Estate Market News Blog: Nanded City Pune reduces the property rate to Rs. 2,500 per sq.ft.Ravi Karandeekarhttp://www.blogger.com/profile/01681035021606018101noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-5269558537262232516.post-72868267936949670142012-09-14T11:11:16.010+05:302012-09-14T11:11:16.010+05:30Whats the current rate going on for nanded city..Whats the current rate going on for nanded city..prajaktahttps://www.blogger.com/profile/11430617971082493976noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-17517083946590515702011-07-18T02:58:23.950+05:302011-07-18T02:58:23.950+05:30Whats the current rate going on in Nanded City... ...Whats the current rate going on in Nanded City... I came across a flat in same area...around Rs2500 / sq ft... is it safe for me to purchase it ...its in shivne gram panchayat...what all documents need i to check from the bulider for the sameDJhttps://www.blogger.com/profile/13822515845131801493noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-31190802095781427162011-04-08T18:47:14.570+05:302011-04-08T18:47:14.570+05:30Dear AJ, this blog was written in 2009. Sure, I wi...Dear AJ, this blog was written in 2009. Sure, I will write about villas when Nanded City Pune opens booking.Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-34263162486064284512011-04-08T18:35:58.079+05:302011-04-08T18:35:58.079+05:30Ravi thank you very much for this information I ap...Ravi thank you very much for this information I appreciate with the information and would look forward to buy a property in Nanded City.<br />The rates which has come down is apprecitating.<br />I was afraid when i heard the price will start from Rs 3500. Thought wont be able to go forward and purchase.<br />Ravi if you can tell me the rates for Villas/ Bunglows, it would be great help.<br />I look forward for your reply.<br />Thanks.*AJ*https://www.blogger.com/profile/10949555109448461911noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-20701373390237887412010-04-16T13:10:26.848+05:302010-04-16T13:10:26.848+05:30I feel Sinhagarh area is totally out scurt of city...I feel Sinhagarh area is totally out scurt of city. No good school, no good mall and work location is also very far. I found following chart of correct property prices posted by some user.<br /><br />Follow following chart for negotiating prices with builder<br /><br />Area Rate/Sq Ft. <br /><br />MG Road 2500-4000<br />Koregaon Park 2500-6000<br />Kalyani Nagar 2000-3500<br />Sopan Bag 2000-3000<br />Viaman Nagar 1800-3000<br />Nagar Road 1800-3000<br />Kharadi 1800-3000<br />Hadapsar 2000-3000<br />Wagholi 1200-2000<br />Kondhwa 1500-3000<br />NIBM 1500-3000<br />Wanowrie 1800-3000<br />Vishrantwadi 1500-2800<br />Airport Road 1500-2800<br />Yerwada 1800-3000<br />Kothrud 1800-3000<br />Deccan 2500-4000<br />FC Road 2500-4000<br />Shivaji Nagar 2500-4000<br />Model Colony 2500-4000<br />Sinhgad Road 1200-2200<br />Aundh 1800-3000<br />Aundh Annexe 1500-2200<br />Wakad 1500-2200<br />Pashan 1500-2500<br />Baner 1800-2800<br />Hinjewadi 1200-1800<br />Khadki 1800-2500<br />Pimpri 1600-2200<br />Chinchwad 1600-2200<br />Nigdi 1200-2000<br />Pradhikaran 1500-2500<br />Tathawade 1000-1800<br />Talwade 1000-1800<br />Bhosari 1000-1500<br />Akurdi 1500-2200<br />Talegaon 1000-2000<br />Chakan 1000-1800<br />Thergaon 1200-1500<br />Ravet 1000-1500<br />Dehu Road 1000-1800<br />Dapoli 1500-2200<br /><br />It is available at following link<br /><br />http://www.bharatestates.com/blog/index.php/real-estate-prices-in-pune/comment-page-1/#comment-476<br /><br />Hi Ravi,<br />Can you comment on the following prices area wise which seems to be quite realistic and correct for property buyers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-43211059012694413582009-07-07T12:48:12.995+05:302009-07-07T12:48:12.995+05:30Why add more floors (or more flats) when existing ...Why add more floors (or more flats) when existing flats are not getting sold out ? Original plan was to launch buildings with 11 storeys .... But now they changed it to 22 storeys which means more flats have been introduced...<br /><br />I thought, they were getting trouble to sell flats from their original plan of 11 storeys buildings... but adding 11 more floors means introducing twice as many flats ...<br /><br />Why decision like this was taken in such bad market condition ? Or the condition is not as bad as it seems ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-37341787831179389102009-07-03T17:15:05.445+05:302009-07-03T17:15:05.445+05:30# Ref: "Recently they changed their buildings...# Ref: "Recently they changed their buildings from 11 storeys to 22 storeys due to bad real estate situation. What could be the reason of introducing more flats in such bad market?"<br /><br />- Sorry, i didn't get you. Is it specifically about 11 - 22 or about the total number of flats open for booking?<br /><br />- About "Bad real estate market" - i am sure, you know the number of applications Nanded City Pune received. The number of flats may not be a proof but sure it reflects how many people have paid 10% to confirm their allotment.Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-45866580772442570222009-07-03T13:36:43.409+05:302009-07-03T13:36:43.409+05:30Hi,
Do you know ?
1. Its now 2750 again... and n...Hi,<br /><br />Do you know ?<br /><br />1. Its now 2750 again... and not 2500. <br />2. Tosh's clause, if true, should be an area of concern...<br />3. The end location of phase 1 is about 2.5 KM starting from their current sales office.<br />4. You can not change walls / restructure your apartments in future.. cause there are no pillars.<br /><br />Ravi sir, I do have one last question ...<br />Recently they changed their buildings from 11 storeys to 22 storeys due to bad real estate situation. What could be the reason of introducing more flats in such bad market ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-67476308065845035932009-06-04T18:25:15.486+05:302009-06-04T18:25:15.486+05:30Very good to see that major RE player in Pune has ...Very good to see that major RE player in Pune has reduced the price. In any case, even Rs.2500/sq ft here is too high or several areas of Pune for that matter. <br /><br />There is nothing in Pune to justify such high prices, no public transport, poor infra, etc. Prices rose only due to IT. As IT is now out, prices have started coming down, something on the lines of Bangalore.<br /><br />The matter is worse for Pune realtors as NCP faired poorly in Lok Sabha elections & is now looking at funds by divesting in RE for state elections.<br /><br />Prices in Gurgaon & Bangalore are already below Rs.2000/sq ft range.<br />Affordability is decreasing. Good link illustrating the same:-<br /><br />http://business.rediff.com/slide-show/2009/jun/04/slide-show-8-housing-prices-have-begun-to-drop.htmParimalnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-67748143716155534242009-06-02T10:27:32.750+05:302009-06-02T10:27:32.750+05:30Hi Ravi,
If you think from commom man's perspecti...Hi Ravi, <br />If you think from commom man's perspective, its a welcome move although it is intended to take into consideration the "Business" perspective. <br /><br />On Sunday evening, I went to Nanded city and I had take an appointment and wait for almost an hour to talk to a sales executive <br />to whom I could meet easily earlier.<br /><br />Overall response seemed good and there was some activity on site. Thinking rationally, its a good opportunity for any investor from long term perspective.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-65752637519112668302009-05-31T23:05:47.774+05:302009-05-31T23:05:47.774+05:30Just as a reminder - Nanded City has a clause that...Just as a reminder - Nanded City has a clause that you can not sell your flat 3 years from the date of possession. This information is not highlighted by the builder but is put in the contract when you go for buying. So if you get into this property you are locked for atleast 7-8 years before you will be able to sell it (if you want to) because construction of the first phase will continue for 4-5 years and then you will get the possession. It will be hard to rent out flat in this area as it is way off from the work places. With 2500 Mr Magar's profit markup expectation is 200%+. Well it has been reduced from 3500 to 2500 so Mr Magar has "REDUCED" his profit margin from 350%+ to 200%.. Very considerate Mr Magar for the end user, way to go Sir.. :)Toshnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-65145853059460677022009-05-30T17:37:16.580+05:302009-05-30T17:37:16.580+05:30this place does not deserve 2500 per sq ft. magars...this place does not deserve 2500 per sq ft. magars perhaps do not know that most of the people go to work to make a leaving. and the people who will live in these houses will also have to travel to work, mr magar. their places of work are far from this site. areas like wakad and pimple saudagar are demanding rates which are almost the same. who will go to nanded city if there are choices available in more developed areas such as wakad?Vinod Guptenoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-58166905480330817402009-05-30T10:49:30.040+05:302009-05-30T10:49:30.040+05:30Ravi,
I dont grudge the builders their profits. Bu...Ravi,<br />I dont grudge the builders their profits. But there is a recession going on. Holding on to high prices will only kill the flow of money. The party is over, I wonder will "ghost towns" make an appearence in india this recession? People who invest in houses depend on someone willing to buy and stay in that house at the end of the holding period. If the end user is not there, then there is no point. And houses are not like stocks, they dont pay dividend and they require maintainance. So a "buy and hold" strategy rarely works...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-48992206588543970252009-05-29T21:27:07.801+05:302009-05-29T21:27:07.801+05:30Wow! Finally we see rational comments rather than ...Wow! Finally we see rational comments rather than emotional ones in this section. I too agree that Mr.Magar's team is finally facing the reality. Pune was trailing behind other cities in rates reduction but no more. Nanded city is going to achieve a lot for the common man. It sends a big message that property prices were inflated in Pune and are finally seeing a decent fall. It is upto each individual,now, to decide when does he/she jumps in and buys his/her dream house. Some might prefer to wait while other might not. Nanded City will definitley benefit as they have taken the first step. They will definitley get more buyers as compared to sticking to unrealistic rates. Good for Nanded City and good for buyers. If the rates fall further so be it. All will benefit - buyers because they will be able to afford the houses, builders becuse they will be able to generate revenue, improve their liquidity and make decent profits (and not the obscene ones they used to make earlier)Unknownhttps://www.blogger.com/profile/11842094957738375543noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-19569172722592182292009-05-29T18:22:04.457+05:302009-05-29T18:22:04.457+05:30Good to hear that rate is reduced....But can anybo...Good to hear that rate is reduced....But can anybody confirmed if the actual total rate of flat is reduced by how much %.<br />......As Nanded is following Magarpaatta pattern .....I don't think there will be any change in total cost of flat.Vibhavnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-32252122719939641772009-05-29T10:54:35.906+05:302009-05-29T10:54:35.906+05:30Ravi, this is in response to ur statement - "I won...Ravi, this is in response to ur statement - "I wonder what Nanded City Pune is going to achieve by reducing the property rate to Rs. 2,500 per sq.ft!".<br /><br />My answer would be NOTHING (yet). They would still need to bring it down to around maybe 2000-2100 psft so that their sales can pick up and the project can take off.<br /><br />People who have booked at 3250psft should seriously think about canceling. <br /><br />Real estate in Pune is primarily driven by IT and then investors from Mumbai. All educated people are aware how IT industry is doing right now so I need not explain. For the Mumbai investors most people have lost money since the sub-prime and the sentiment is that rates would still fall.<br /><br />Other people, builders would also like to argue that Pune is a manufacturing, automobile hub etc. But the point is how many people in this industry earn that kind of money to afford a flat above 25 lacs except people from the senior mgmt layer?Xrisnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-52944523556712575812009-05-29T08:55:20.108+05:302009-05-29T08:55:20.108+05:30# Ref: "rate for booking in Nanded project should ...# Ref: "rate for booking in Nanded project should be around 1200-1400 Rs per sq ft"<br /><br /># Ref: "Everyone (even you) knows for fact that 2500psft is over-valuation "<br /><br /># Ref: " That’s where the confidence of the investor is reduced. "<br /><br /># Ref: " Still, I feel 2500 is out of reach of normal person including so called IT professionals... "<br /><br /># Ref: " For nended city, rate reduction is not devalutaion brcause there is no value at all for such location and price combination."<br /><br /># Ref: " Also, as per my knowledge this project does not fall under PMC limit. Plus connectivity is also a problem."<br /><br /># Ref: " Nanded City today is in the middle of nowhere."<br /><br /># Ref: " good news !! at least one builder is reducing prices. Rest will follow suit, remain assured."<br /><br /># Ref: " Now try justifying these myths to the property buyer in Nanded City who booked at 3250 per sq ft!"<br /><br /># Ref: " They have done nothing great just trimmed down a fraction of their super fat profits here."<br /><br /># Ref: " Already there are ppl intelligent enough who know that it is not worth the 2750 or 2500 or anything in these range really... "<br /><br />Thanks for the comments! I repeat:<br /><br /> <A>"I wonder what Nanded City Pune is going to achieve by reducing the property rate to Rs. 2,500 per sq.ft!"</A>It looks like that, like me, most of you are not happy. Some about the price. Some about the concept of 700 acre integrated township. <br /><br />If "not happy" sounds too harsh to you, then i would like to say that <br /><br />- This price reduction fails to create positive sentiments about Nanded City Pune. <br /><br />- This property price reduction didn't build confidence about Nanded City Pune in the property buyers mind.<br /><br />- Is this price reduction going to get the bookings of those reluctant property buyers who were not ready to confirm their bookings?Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-48358035226524180072009-05-28T19:16:16.956+05:302009-05-28T19:16:16.956+05:30You are right.. This is going to put more ppl in d...You are right.. This is going to put more ppl in dilemma as to why 2500... why not reduce further.. And guess what? only those fools will be thinking on this who havent done so already. Already there are ppl intelligent enough who know that it is not worth the 2750 or 2500 or anything in these range really... <br />If one makes a mistake and realises the mistake, it is 'Shahanpan'(clever) to admit it and try to rectify it. Sticking to your price just because it launched with it and not admiting that it might not be worth would be fool hardy!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-15202545356607461072009-05-28T17:46:35.245+05:302009-05-28T17:46:35.245+05:30Hi Ravi its not that hard to believe that Nanded C...Hi Ravi its not that hard to believe that Nanded City promoters themselves have reduced the price to 2500.<br />They have done nothing great just trimmed down a fraction of their super fat profits here.<br />And now if you are wondering what would be the right price for this Nanded thing, then take a hard look at the comment posted by Tosh...:-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-81269346609801151682009-05-28T16:51:19.111+05:302009-05-28T16:51:19.111+05:30I have booked in Nanded city at 3250 which was lat...I have booked in Nanded city at 3250 which was later reduced to 2750 and now again reduced to 2500. That too without any written confirmation to any body. Seeking opinion should I opt out of the investment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-992323640516969962009-05-28T15:14:16.060+05:302009-05-28T15:14:16.060+05:30Always, the builder tries to promote myths like:
1...Always, the builder tries to promote myths like:<br />1. Property prices always go up<br />2. What if property rate has come down? It does not matter if you are living in your house.<br /><br />Now try justifying these myths to the property buyer in Nanded City who booked at 3250 per sq ft!<br /><br />Maybe the buyer at 3250 per sq ft should try to cancel his booking. If he gets his money back, he can rebook the same flat at 2500 per sq ft :):)Abeer Bagulnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-90586925697492635722009-05-28T14:35:45.665+05:302009-05-28T14:35:45.665+05:30good news !! at least one builder is reducing pric...good news !! at least one builder is reducing prices. Rest will follow suit, remain assured.<br /><br />GM is going to declare bankruptcy and satyam is going to sack 8k people. these events will surely lead to further correction.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-83088657405940028682009-05-28T14:12:56.901+05:302009-05-28T14:12:56.901+05:30What do you think Ravi, when would be the minimum ...What do you think Ravi, when would be the minimum amount of infrastructure ready for anybody to lead a comfortable life at Nanded City counting from today?<br />Please correct me if i am wrong:<br />By infrastructure i not only mean basics like road, water electricity, i also would include shopping malls, schools etc. <br />In short a system that would be self-sufficient in itself. <br />Nanded City today is in the middle of nowhere.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-45898800599110273822009-05-28T12:04:19.179+05:302009-05-28T12:04:19.179+05:30well, ravi why are you disturbed if rates are fall...well, ravi why are you disturbed if rates are falling. It was due long time.<br /><br />I would nto even pay 1000 rate for such a remote location and these guys were asking a 3000+ rate which was ridiculous.<br /><br />I know you are RE salesman and it is natural for you to be worried if rate fall. But see the bigger picture, unless rate fall, real transactions will never happen and you'll face even more trouble.<br /><br />I say most premium property in Pune should not cost more than 2000per sq ft and others below than that accordingly. This is the right VALUATION and not devaludation.<br /><br />For nended city, rate reduction is not devalutaion brcause there is no value at all for such location and price combination.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-56326812840608397062009-05-28T10:35:51.319+05:302009-05-28T10:35:51.319+05:30I agree with Tosh. Ravi, we should be feeling happ...I agree with Tosh. Ravi, we should be feeling happy that prices are going down. This is a game of demand and supply. If demand is not there then it needs to be created. Reducing the price is one way to do that. I do not think it will create any negative impact in people mind as such. Still, I feel 2500 is out of reach of normal person including so called IT professionals... <br /><br />Also, as per my knowledge this project does not fall under PMC limit. Plus connectivity is also a problem.Unknownhttps://www.blogger.com/profile/15495448402542379327noreply@blogger.com