Pune registered India’s highest annual house price increase!
According to Global Property Guide, Pune registered annual house price increase of 33.33% (21.06% inflation-adjusted) during the year 2012. Highest in India!
So, now, at the end of 2012, question is - "Where are Pune property rates headed?"
If you visit PROFEST WEST 2012, organized by CREDAI Pune Metro at VITS Hotel Balewadi, you can see that at Hinjewadi, Wakad, Balewadi, Baner, Bavdhan, Pimpri and at all popular locations in Pune, property rate is above Rs. 4,500 per sq.ft. Which was around 3,200 per sq.ft. at the beginning of 2010! For example:
1) Sai Laurel Park Pimple Gurav - Rs. 4,700 per sq.ft.
2) Yash Sankul Pimple Saudagar - Rs. 4,600 per sq.ft.
3) Sai Ambience Pimple Saudagar - Rs. 5,040 - 5,0900 - 5,140 - 5,190 per sq.ft.
4) Mont Vert Seville Wakad - Rs. 4,599
5) Mont Vert Dieu Pashan Sus Road - Rs. 5,233 per sq.ft.
6) Mont Vert Vesta Bhugaon - Rs. 4,333 per sq.ft.
7) Celestial City Ravet - Rs. 4,300 per sq.ft.
8) 43 Private Drive Balewadi - Rs. 5,700 - 6,350 per sq.ft.
9) Elite Homes Wakad - Rs. 4,100 - 4,650 per sq.ft.
10) Empire Square Chinchwad - Rs. 5,300 per sq.ft.
11) Sukhwani Sepia Wakad - Rs. 4,365 per sq. ft.
12) Sai Deep Karve Nagar - Rs. 7,250 per sq.ft.
13) Saarrthi Sovereign Hinjewadi Phase 2 - Rs. 3,850 - 3950 per sq.ft.
14) Saarrthi Signor Hinjewadi Phase 1 - Rs. 4,300 per sq.ft.
15) Saarrthi Sinclair Warje - Rs. 4,400 per sq.ft.
16) Palladio Wakad - Tathawade - Rs. 4,200 - 4,400 per sq.ft.
17) Royal Rahadki Greens Rahatani - Rs. 4,990 - 5,000 per sq.ft.
18) Rose Icon Pimple Saudagar - Rs. 5,000 - 5,150 per sq.ft.
19) Nandan Astra Wakad - Rs. 5,000 per sq.ft.
20) Nandan Acura Baner - Rs. 5,300 per sq.ft.
21) Pristine Royal Aundh - Rs. 8,100 per sq.ft.
22) Pristine Privilege Aundh - Ra. 5,400 - 6,000 per sq.ft.
23) Pristine ProLife Wakad - Rs. 4,500 per sq.ft.
24) Neco Park Pimple Nilakh - Rs. 4,700 - 4,900 per sq.ft.
25) Wisdom Park Pimpri - Rs. 4,590 - 4,860 per sq.ft.
When I asked one of the senior real estate professionals about Pune property prices in 2013, he said, "If people keep on buying properties - rates will keep on rising!". So, tell me what are you planning to do?
A Few Photographs of CREDAI Pune Metro's PROFEST WEST 2012:
View Credai Pune Metro Presents "PROFEST WEST" 2012 in a larger map
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| VITS Hotel - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Orchid Convention Centre - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Kushal (www.kushal.org) - training and skill building for construction workers - CREDAI Pune Metro & National Skill Development Corporation India (NSDC) Project at PROFEST WEST 2012 |
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| Pillarless Orchid Convention Centre - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Property Buyers at Registration Counter - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Good Response - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Pride Purple Group (www.pridepurplegroup.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Aishwaryam (www.aishwaryam.net) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Mont Vert Luxury Homes (www.montverthomes.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| G:Corp Greens Wakad (www.greenspune.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Pharande Spaces (www.pharandespaces.com) Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| UrbanGram (www.urbangram.in) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 -28 October 2012 at VITS Hotel, Balewadi, Pune |
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| DNV Builders (www.dnvbuilders.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Pebbles II Bavdhan (www.pebblesii.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Elite Landmarks (www.elitelandmarks.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Kasturi (www.kasturihousing.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Vilas Javdekar Eco Homes (www.javdekars.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Teerth Realties (www.teerthrealties.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Nandan Buildcon (www.nandanbuildcon.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
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| Mantri Constructions (www.mantri.com) - Exhibition of Properties in Hinjewadi, Wakad, Baner, Balewadi & Bavdhan! - PROFEST WEST 2012 by CREDAI Pune Metro on 26 - 27 - 28 October 2012 at VITS Hotel, Balewadi, Pune |
Related Story:
1) FRIDAY, OCTOBER 19, 2012
Current Property Prices & Availability in Pune
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This comment has been removed by the author.
ReplyDelete"Removed by the Author" means removed by Sajid!
DeleteHi Ravi,
ReplyDeleteIt seems that property rates has been increased suddenly.
Few months back i visited KUL ecoloch at Mahalunge - rate was around 3700 now its 4200
river residency at chikali was 2800 now it is 3580..
it is not possible to book at such rates.. i guess resale is good option now. what u suggest???
You are right, Kishor. Resale is a better option.
DeleteHowever, always remember that we all can collectively stop booking & bring down these irrational property rates.
Ravi,
DeleteI appreciate your efforts. God knows we Punekars need a rationalization of the property rates. But that ship has sailed. The speculators have entered the Pune market in a big way. Where did they come from? Mumbai ! Yes, the Mumbai real estate prices have gone way past ridiculous.(they had gone irrational years ago). Now these speculators, feel that parking their money in Mumbai real estate will not give the same rate of return. So they started looking for alternative cities which had a reasonable size of economy. Pune was always at the top of that list. So they have started parking their money in Pune real estate market now.
Mumbai speculators are not to be blamed alone. There are people in other parts of India with their ill gotten money who want to invest, rather punt, in Pune market. For instance, I had come across a project in Wakad where a Delhi based revenue dept. officer had bought some 10 odd flats (a real estate broker told me this)!
What I mean to say is even if the Punekars stop buying/booking, the rates will keep going up now. Thats exactly what happened in Mumbai. The common( read tax paying salaried educated middle class) was pushed out of the buying-selling equation some years ago. Pune middle class people are in for the same future. This is a sad reality for people like me. But an inescapable reality all the same.
Again, I appreciate your concern about the realty market in Pune. You are clearly on our side( genuine buyers who actually need a roof of their own on their head).
Ravi,
ReplyDeleteI visited the exhibition seeing at the price i am curious to know who is buying 80Lakh 2bhk in baner...I am not sure where this is going. I work in IT and contrary to popular belief (In builder community)its not easy to buy a 80L flat even if you spend 5 years in US. also i see a new trend a 1150 Saleable area flat has 620 carpet and whopping 220-270 sqft terrace (this flat costs 60L +)
True...Amit ! The price trend the current real estate experiencing is ridiculous. I do not understand how people can manage to buy flat costing Rs. 80 L. Corruption money! Ancestral property wealth! or Black money through illegal business!...God knows! Home has become more of investment option than one of the basic needs of human being which is supposed to be at affordable price. Sadly ridiculous!
DeleteOne truth which you have to accept is whatever Anushka has written , she can write this in 2022 or she could have written it in 2002. Point I am making is , today you feel 80Lac is too much for a flat. Wait for 3 years. This 80 Lac flat will cost at least 1.1 Cr. And you can again Cut paste the same saying 1.1 Cr is ridiculous.
DeleteAlso historically it has been proved that property rises to 10 times in 20 years. Now if you want to rewrite what you have written , I am very sure, On 29th October 2032,This 2BHK flat will cost Rs 8 Cr.. and guess what thats minimum we are talking about ... Super duper ridiculous ... Isnt it??
One thing we must understand is Bank gives 10% interest to our FD money. Most secured form ... right? Now it means even bank agrees in most secured form real money will grow by 10%. So 80 lac today will become 88 next year , 96 the later year and 1.06 Cr after 3 years. Even if you keep in bank!!!! Now our population keeps on growing so there is demand for homes. Families are getting smaller, so even more homes are required. Demand will rise for sure. So if one expects this market to go up by 15% every year , whats wrong? Homes are always priced in such a way that you need to stretch a bit... after few years it seems like you bought it cheap.As they say ... Anytime is good time to buy property!!!
LOL! what a logic. Sir, the price depend on the demand, and the demand is based on paying capacity. If you take black money out of the equation, most people doesn't have the paying capacity even now. India's economic growth is going downwards so paying capacity will further decrease. Also, the black money investment will also decrease over time, and then property prices will fall. 8 Cr for 2 BHK? what a joke.
DeleteI have some different views.. To me rising property prices is just a syndrome and not actual disease. The disease is Rupee is losing its purchase power. Let me illustrate with few examples -- Shivneri fare has gone up by about 15% in last one year. Auto fare in mumbai has gone up by 36% in last 6 months. Lets not discuss petrol or diesel or gas cylinder prices because we all know how they have shoot up. Gold has gone up 25% in last one year.
ReplyDeleteGrocery bill when becomes 1500 Rs a month from 1000 Rs , its 50% rise. However it doesn't pitch us as hard as when EMI of flat goes from 20000 to 30000. ( Same 50% rise).
As i stated earlier , its inflation -- The root of all evils. One must understand to use it in his favor. Property prices will continue rising , no doubt, but always remember no one has ever said -- Lets buy home because its affordable. " Ghar kabhi bhi kharido , woh mehanga hi lagata hai!! "
You are right. It is a symptom and not a disease. The disease is the big haven that real estate has become for parking and growing black money.
DeleteAn easy fix for this is to ban all denominations upwards of Rs 100 with a seven day notice. Not so easy ,however, when you consider that the decision will never be made!
Dear Friends,
ReplyDeleteBe cautious and think 10 times before you call Mr. Ravi Karandeekar.
He has created very good impression over his blog but factually he does not have a gentlemanly attitude or even basic manners while he speaks over phone. Is it due to lack of money he is frustrated? I do not know.
He speaks as if he is the supreme authority and the only knowledgeable person in real estate & economics. I have rarely seen him talking numbers or stats or using correlation factors in his blogs and yet he cries, yells, screams economics. Let him do it…he is so called authority. At some point he might start talking point of failure, bending moment , shear force etc….again let him do it he is an authority in structure design also…)
He also keeps hitting at people without knowing his or her back ground and start underestimating and many a time accusing attitude of younger generation which is a typical attitude exhibited by many people and I suggest him to be aware of this disease.
You may receive at least 15 to 20 (if not more ) derogatory remarks while you talk with him over phone and this will make you feel as if you are talking to a very disgraceful person rather road side “gunda” who is abusing you for XYZ reasons. His voice takes un-usual high pitches in case you try to either agree, sympathize with him (…Yes I mean agree or sympathize..!!) and those pitches and sarcastic remarks are bitter than typical road-side verbal fights. So do not dare to disagree with him; he might spit on your face through phone..!!..Thank god this spitting through phone technology is not yet invented.
I always felt towards the end of conversation that as if he is yelling louder where even road side scrap-dealer’s voice will take a beating. I thought of giving him tit for tat over phone; but again I thought of giving due respect to his experience, research and age…but again, I question myself is it my job to protect his image or he himself need to be descent enough to protect it. If you have knowledge I feel you do not have basic verbal skills to deliver it though you write ok..!!
It was an agony to talk with him over phone. With his woeful attitude towards any innocent question, I think it is better he himself should tear apart the mask he is wearing to help (?) people to find home.
This conversation definitely made me more humble and hence I would still apologize to Mr Karandeekar if I have hurt him with my this written response.
And Mr Karandeekar you may keep shouting , yelling & abusing which happens to be your second nature..!!
I 100% agree to what you said... but I think its his first nature.. rather then second one..!!!
DeleteDear Yogendra, thanks for the exact description. Yes, many times, I speak like this. Mainly because of the topic of conversation. Because, I believe, that's the most effective way to communicate my point of view over the phone.
DeleteYou are right, Hacker. I have only one nature. Genuine nature.
Deletethis is an informative , beneficial blog which is very knowledgable for those who are looking for knowledge so appreciated by wave city center office space
ReplyDeleteThis comment has been removed by the author.
ReplyDeletePlease see this URL....
ReplyDeleteStill I am finding it difficult to buy..... :-(.
http://content.magicbricks.com/unsold-inventories-in-pune-a-boon-for-homebuyers
Waiting for more correction.
This comment has been removed by the author.
ReplyDeleteCan you please give some feedback about Pristine Privilege Aundh project?
ReplyDelete