This data will help home buyers to negotiate property rates with your members!!
| Location | Projects | Unsold Flats |
| Undri, Manjri, Hadapsar, Fatimanagar, Wanowrie, Kondhwa and Katraj | 78 | 41 per cent |
| Pimple-Nilakh, Aundh, Baner, Pashan, Balewadi, Wakad, Pimple Saudagar, PCMC and Hinjewadi | 186 | 47 per cent |
| Vimannagar, Vishrantwadi, Wagholi, Wadgaonsheri, Kharadi, Kalyaninagar, Boat club/Koregaon Park, Mundhwa, Magarpatta, Sopanbaugh and City area | 110 | 34 per cent |
| Kothrud, Erandwane, Warje, Sinhgad road, Bavdhan, and Hingne | 110 | 49 per cent |
The real estate bubble empire created by the builder lobby is bursting. And even the big guys are not immune to that. Just look at the stock market, guys like DLF & Unitech are falling 25%+ a day. But our puneri builders didnt worry about them, as they are not listed(except DSK & kolte patil to name a few) so no-one knows how hollow they are. I had booked a flat at nanded city, when i went to cancel it (i am in I.T and i know how fragile my company is, we have been notified that we are safe for next 3 months) they asked me that they have reduced rate, but i said no. So even the mighty local builders are falling and resorting to rate cuts! I am happy and sad, because a lot of people who were waiting for such an oppurtunity are going to get theirs, but i also feel sad for people like me, who because of the uncertain economic times are not ready to commit to buy their first home. And now because of the Satyam fisco, i am sure there will be many people worried like me.
ReplyDeleteOn an average, 50% flats are unsold.
ReplyDeleteWhy mnany builders lie to me "Only 3 flats left, you have no option, choose one of it" when I was enquiring with many schemes just 6 months before...!!!
Mera Bharat Maahan...!!!
Business comes with profit & loss. This basic fact PBAP have forgotten. It cultivated mindset that RE is more profit during boom & less profit during slump. It is trying to hold market forces which are saying reduce price per sq.ft. from long time. If they would have started reducing prices current situation must have been better that this statistics. Six month back govt. was fighting inflation so no chances of reducing interest rates. So they would have get read off some inventory by reducing rates by by Rs.200 to Rs. 500 but instead they asked hike of Rs 50 to Rs 400. Reducing rates will have two advantages 1)It will reduce land cost in future. So in future boom will have more room for profit 2)It will remove non serious and new builders from competition so remaining builders will have more market share in future boom & more easily overcome loss they will accrue during current slump.
ReplyDeleteOnly solution is reducing rate per sq.ft.