While the conveyance deeds have remained static in the last three months, registrations by way of leave and license as also lease contracts have shown a steady rise.
Conveyance deeds
Till February-end, the records show the registration of 28,052 conveyance deeds, with the graph peaking in September with 3,011 conveyance deeds. Thereafter, it dropped and has been averaging around 2,500 deeds per month.Leave and License agreements
Meanwhile, there has been an increase in registration of leave and license agreements as also lease contracts in the corresponding period. The leave and license agreements which was at its lowest in November last year at 1,020 has been showing upward movement since then. Having touched 1,431 in December. The number of such agreements peaked jumped to 1,878 in January and before steadying at 1,773 in February- ExpressIndia.Com
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Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front (?)
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If you are planning to purchase your dream home then just wait for 6 to 12 months as property rates started coming down.
ReplyDeleteClosely watch constructions going near by your home then you will find now they have stopped construction or the speed of constructions is very slow.
Reason behind is they don't have bookings so it is very difficult to complete their project. If they become defaulter then you will loose your valuable money.
For confirmation you can visit Aditya builders bawdhan pune, Aditya Builders Baner, Sun Orbit Singhgad Road Pune, Huzur Developer Singhgad Road Pune, DSK Vishva Dahiri, Roseland Aundh there are so many who don't have customers. Rates will surely come down which is good sign for buyers.
You can check it very easily visit their sites and enquire from some construction supervisor or site engineer about bookings. Then visit in their sales office they will try to present 80% - 90% has been sold out. Actually it is just 10% - 20%.
So total 10% - 20% poor guys has been nicely looted by these smart property developers. Please don't disclose them how you get real information about their project that way other interested property buyer will not get correct information about project and they might loose their valuable money. You can also enquire this from small kirana and pan shops which are near to that site. Or you can visit site 2 - 3 time in 10 - 15 days. So you will also get idea about work progress.
Before investing watch regularly CNBC and other business channel's real state programs. According to them real state developers are in big trouble. Some of them have invested their money in stock market when it was 20000+.
Most important thing is be aware about your job security also. Now a days job market is also little bit shaking. In case if you are job less and can pay their heavy EMI at least for 1.5 year then go ahead and purchase property if you feel it is worth.
Then after if you are interested in buying a property then just bargain with property developers if they ask for 3300/- per sq. ft. then just tell now it is buyer's time I can't pay more then 2200/- and give your contact number they might contact you.
Believe or not last month someone purchased a 2 year old 2BHK flat somewhere near to Kothrud bus stand (It is prime location of Kothrud) in just Rs. 1900/- per sq. ft. because seller and purchaser were aware with current market scenario.
Property developers are having a syndicate which is not allowing small developers to sale their property openly in reduced rate.
It already happened in USA. Property market, It has been came down 30% - 50% depends on location. You can enquire from your friends who are living there.
This is awareness mail for all highly paid people. Don't get looted by smart property developers.
Thanks for the commnet, anonymous! But why "anonymous"? Is it wise of me to publish anonymous comments?
ReplyDeleteAll these posts confuses me. While I can see in theory market is sluggish, but practically I dont see any impact yet.....
ReplyDeleteI tried all the tricks to bargain on flat rate for last 7 months without luck. I have been quoted 2800/- on Sus Road for Paranjape schemes, they are ready to pay back my money anytime if I want to cancel my aprtment. Since last year they are claiming not a single flat is available.
Is it because its a Paranjape scheme?