Pune real estate slowdown:
In the comments, most of you express your concerns about sluggish US economy, future of an IT industry and job cuts.'Are Pune real estate developers living in a fools' paradise?' you wonder, when new township projects are launched in Pune real estate market.
Most of us are convinced that builders in Pune are not aware about the imminent danger we all are facing. Some of us are even very sure about the crash of Pune real estate which is mainly driven by the growth of an IT industry in Pune.
Because we all are so overwhelmed, though we are aware about Indian IT industry's efforts to develop IT products and new markets like Japan to overcome this situation, we do not give much importance to these developments, including initiatives to develop "animation and gaming industry" in Pune.
"Hi Tech Pune-Maharashtra 2008 conference" organized by MP Suresh Kalmadi's Pune Vyaspeeth, 40 acre Animation and Gaming Park in Nanded City Pune, DS Kulkarni Developers' joint venture for the training institute in it's upcoming Fursungi SEZ are some of the recent initiatives to promote animation and gaming industry in Pune. Which is supposed to be the 'next big thing' happening after Information Technology, Bio-technology and Auto-hub.
Recession-proof solution?:
As per the Reuters' analysis "Growth ahead for more diversified game industry" by Kiyoshi Takenaka is, for sure, a good news for Pune real estate market. He writes:
"The video game industry looks set for at least another year or two of strong growth, driven by geographical expansion, a strong hardware lineup and growing pool of casual gamers.To update yourself about Pune real estate market, please, subscribe to my Ravi Karandeekar's Pune Real Estate Market News Blog. To know about my related blogs, please, visit my Google group, Ravi Karandeekar's Pune Real Estate Blog Group. Join me on Twitter!
Slowdown in the global economy and its chilling effect on personal consumption, which cast a long shadow over other industrial sectors, have not become a major source of concern, at least not yet"
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'Are Pune real estate developers living in a fools' paradise?' you wonder, when new township projects are launched in Pune real estate market.
ReplyDelete>>>> Yes, builders do live in fools paradise, that's why so many fools believe them. Builders are not investing anything in the new town-ships at present, they are only promoting a concept (Example - Nanded City). Launching a brand new car model in the market and launching a real estate scheme is not the same, but the builders create such illusion in their advertisement to fool the investors. Builders are practically producing nothing in these town-ships but doing only a propoganda. Investors are mislead by such advertisements and starts believing that whatever picture created by the builder will come true soon, but this is not the reality.
The fact of today is - builders have some fuel left to sustain this slow-down, hence they are just holding the current prices.
Regarding animation and gaming>>>
We are not developing ny IT product here, but just a cheap laborous job, don't need any high tech qualification and intellact, so surely this can't be a reason for next boom in real pune estate. We need to find out some other great reason to fool the investors.
This blog news is nothing but one more attempt to fool the people by telling that Pune Real Estate is rocking and the demand is increasing, which is FALSE.
Investors should be very careful of such misleading stories.
Kiyoshi Takenaka has booked a flat in Nanded city, Kreueters has reported recently.
ReplyDeleteHe has taken inspiration from Bill Gates who has bought 2 flats in Baner Balewadi
Also heard that Mr.DS Kulkarni and Mr. Magar have started painting and animation as retirement hobby in Fursungi Park.
Dear Anonymous, who has predicted above (in July 2008) regarding the further crash in Pune RE prices, first I admire you for your vision. Whatever, you had said has come true - today - almost two years after you had predicted this - we are seeing that the prices in Pune RE have further dropped, the prices at NC were droppped and now are at the same level when they started two years back (Rs. 2750-2850psf).
ReplyDeleteYou and Ravi, two years after your earlier discussion, I am interested to know what are your further views regarding the future of Pune RE in general and NC in particular.
Do you think as an investment NC is a better option now or is worse than what it was.
Please reply.
THANKS.