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Saturday, June 20, 2009

Park Infinia at Fursungi - Kumar Properties reduces the property rate to Rs.2,250 per sq.ft.!

Good old property rate - click to zoom:

Why didn't Kumar Properties reduce the property rate of Park Infinia to Rs.2,100 per sq.ft.?

On the day of launch of Credai Pune's property exhibition "Best of East Pune", it was a big news that next day, on Saturday, Kumar Property is going to announce the price reduction of Park Infinia to Rs. 2,100 per sq.ft..

It was not a gossip but an authentic news. Nobody but salespersons of Kumar Properties' themselves were telling everybody about the price cut!

After coming home, i blogged the breaking news about price cut, but before pushing the "Publish Post" tab, i realized that the source of the news was "authentic" but not "official". It was quite an odd time to confirm it with any authentic, official source from Kumar Properties. So, i didn't publish but saved the post.

Next day, i couldn't control my enthusiasm and did what i am avoiding doing for last couple of months. I went to the stall at corner to purchase the newspaper.

Please, don't misunderstand me. I don't avoid "paying" for the newspaper and try to read it for "free". No, it's not about paying or reading for free. I am trying to give up the habit of reading printed newspaper for reading RSS feeds.

I picked the newspaper Sakal and before paying for it browsed all pages looking for Park Infinia's ad. When i didn't find it in Sakal, i picked up Times of India. But the ad was not in Times or in Property!

I was glad that i didn't publish the breaking news of Park Infinia's price reduction on my Ravi Karandeekar's Pune Real Estate Market News Blog, an unofficial but an authentic newspaper on the web of Pune real estate market.

My "ego trip" didn't last for more than 3 seconds because i had to deal with the reality. I had to face the tough question. No, not "Why Kumar Properties didn't reduce the property rate?" But "Should i pay for and read the printed newspaper or just keep it down?"

Old habits die hard! Change is not an easy thing to achieve! Being with the time is tough! Reading the newspaper with a hot cup of coffee is an enlightening experience!!

Related Stories:

1) After Megapolis at Hinjewadi, Kumar Properties launches Park Infinia, garden township of 1008 flats at Fursungi in Pune, at Rs.2,500 per sq.ft.

2) Kumar Properties' Park Infinia at Fursungi - increases property rate to Rs. 2,600 per sq.ft.!

3) Kumar Properties' Park Infinia at Fursungi and Pune real estate dilemma

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  1. Ravi..your descriptive style of writing reminded me of a typical weekend morning in Pune when you go and get a paper from the corner..sip chaha and browse thru the paper ..I really miss Pune..

  2. they are offering 2100/- per sq ft after some negotiation.. do u think it is a good investment, with regards to scope for the area to improve in the coming years?

  3. Would you consider say, a villa in Wagholi for about the same rate as this... from a value appreciation perspective as well as lifestyle perspective? I am told that some of the row-house projects in Wagholi area are available at 2100 to 2400 per sft.

  4. # Ref: "hey are offering 2100/- per sq ft after some negotiation.. do u think it is a good investment, "

    # Ref: " a villa in Wagholi for about the same rate as this... from a value appreciation perspective as well as lifestyle perspective?"

    In Pune real estate market even builders are saying that in the next 2 - 3 years appreciation would be around 5 - 6 % per annum.

    You can accept this statement only if you believe that economy would be really doing fine and there would not be a depreciation of 15 - 20 % of the property value like last 2 years!

    Though i am hopeful, as a professional i refuse to be so optimistic. I believe that you should buy any property if you really like to keep it even if it depreciates by 15 % in the next 2 -3 years.

  5. Hi Ravi,

    Please let me know if buying a home in Park Infinia at 2200/- is good option? Considering area, price, builder etc..


  6. Raj, yes. Buying a home in Park Infinia, Fursungi at Rs. 2,200 is, certainly, a good option.

  7. Hi Ravi,
    I had been looking at purchasing a two BHK flat for a long time now. Recently i came across Park Infinia which really looks really cool. They are currently quoting @2550 now. Do you think its a nice investment. I want to purchase it for investment purpose. My budget is 32Lacks. Can you suggest me some other property which might give me better returns?
    Thanks a lot in Advance

  8. Park Infinia is good.

    But re-check your calculations. Consider the 10% inflation, 11% interest on home loan and 15% appreciation, 5% rental income.

    Investment should not turn into liability.

  9. Dear Ravi,

    I would like to go for 2 BHK, Park infinia rate @3950/sq ft, shall I invest in same and shall I go to Wagholi for investment, Kindly suggest.
    Thanks & Regards
    Vikrant Baviskar

  10. Hi Ravi,

    My name is Ravi Joshi. Well I am planning to buy a flat at Silverwood by Venkateshwara builders in Phursungi Pune. What is your opinion about it?

  11. Hi Ravi,

    I would like to purchase a 2bhk flat in Park infinia as my budget is 45L...is it a good option now?
    Is there any other option available within my budget?