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Wednesday, November 18, 2009

InSignia_Pune News - How come some 2 BHK Flats in the 2nd Group Hosing Project at Sus are still available for booking?

Is it because some of us find it difficult to believe in ourselves?

When i saw the latest list of members of 2nd Group Housing Project of InSignia_Pune, housing group of IT professionals working in Hinjewadi Pune, i was shocked.

In the 2nd Group Housing Project of InSignia_Pune, all 4 BHK Row Houses ( Town Houses) are booked, means applied for. Only couple of 3 BHK Row Houses are available which may go at any point of time. For 3 BHK Flats, response is satisfactory. But how come all 2 BHK Flats are not booked by this time? Considering the current trends in Pune real estate market, i thought, not a single 2 BHK Flat should have been available for booking by now!

"This is not right. I am over expecting, I should be more realistic. I should see the positive s and be less critical," I told myself. Yes, actually, the response for the second project is much better than the first project. In just 1 month more than 50% project is already booked!

I should remember that the property rates of InSignia_Pune Group's 2nd housing project, budget of a 2 BHK Flat and floor plans are not yet finalized. Considering the tight budgets of the first time home buyers, it sounds reasonable if they decide to book only after these details are finalized, i convinced myself.

Then came Pune Expo 09 and The Times Property Show. Away from the site office, in comparatively relaxed mood, i could chat with many real estate salespersons. Like typical salespersons working in any field, we started gossiping about our past and present bosses, means Pune builders, and then went on bitching about our customers, over smart property buyers from Hinjewadi.

However, the conversation became serious when someone opened the topic of pay scale, incentives and commission in Pune real estate market. Certainly, prospects are very dull. New projects are not coming. Availability of flats is less. Property prices have increased more than in the days of real estate boom in Pune. Low budget projects have failed to speed up.

Most important, first time home buyers market which creates job opportunities for the real estate salespersons is shrinking. Today, if you want to buy a 2 BHK flat in Aundh annex, or in any popular location in Pune real estate market, your budget must be above 35 lakhs. When we crosschecked the list of upcoming projects, all were above 50 lakhs which made my friends more nervous.

This conversation motivated me to post the blog on the property rates and budgets of 2 BHK Flats in Pune real estate market. While compiling the data, i was wondering about the availability of 2 BHK Flats in InSignia_Pune Group's 2nd project.

Not only 850 members of InSignia_Pune Group but every IT professional in Hinjewadi, i am sure, knows that, today, only in this project you can get a 2 BHK Flat in less than 30 lakhs. Then, i was wondering, why aren't all 2 BHK Flats booked?

Is it because it's easy to believe someone else, even a small time builder or his fly by night broker, than yourself? What do you think? Why some IT professionals are taking so much time to book their 2 BHK Flat in InSignia_Pune Group's 2nd housing project at Sus? Please, share your views in the comment. Comments Policy

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  1. "Why some IT professionals are taking so much time to book their 2 BHK Flat in InSignia_Pune Group's 2nd housing project at Sus?"

    1) There are other options as well in the same price range.

    2) The builder has increased the price by 200 psq.ft., instead of decreasing.

    3) 2-Bhk would anyway be less of space in years to come, so why bother to buy it, instead pay some more and get 3-bhk.

    4) It is hell of paper work to go through. You pay deposit then wait for your turn to come up, etc.

    5) S/W industry is still in difficult stage

  2. Dear Ravi,

    Could you comment on the avalibility office and staff at Insigna? I had called them once (Only telephone conversation) and got the impression that they may not have the requisit office and structure to manage the builder and keep control of the project.

  3. Dear Ravi,
    When I had called the InSignia group telephonically, I got the impression that it may not have a good infrastructure (dedicated full time staff) to manage the project and the coontractor. Is my impression correct, or does InSignia have a dedicated Project management Team?

  4. Hello Joe, thanks for the comment! Yes, a completely dedicated team more more than 850. You can join too!