On the first day of September,
Is it worth to visit 'Maharashtra Times Property Show'?:
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| Visitor at Maharashtra Times Property Show, Sakhar Sankul, Shivaji Nagar, Pune, 31st August & 1st September 2013 |
Everyday in August 2013, we were reading bad & sad news about Indian economy.
But in September, Ganapatti Bappa Morya - we have decided to be happy. We all know, for sure, Bappa will help us forget about inflation, economic crisis & slowdown in Pune real estate market.
Then would it be wise to visit Maharashtra Times Property Show on the first day of September 2013? I wanted to find out.
So, yesterday evening, I went to Sakhar Sankul, venue of the Pune property exhibition, and had a talk with a few visitors. Look what they say about Maharashtra Times Property Show.
1) Bargain for a Big Discount on Property Prices:
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| Prakash (Not a Real Name) at Maharashtra Times Property Show, Sakhar Sankul, Shivaji Nagar, Pune, 31st August & 1st September 2013 |
When I saw only a couple of brochures in his hand, I asked Prakash (Not a Real Name), "Good! You have found what you were looking for!! Already short listed the best options!!!"
"Shortlisted? No! Only these were worth considering!!," said Prakash.
"However, congratulations for visiting the exhibition in this poor economic conditions!," I said.
"Because, I know this is the right time! Now, the builder has to negotiate - reduce property prices - give a best deal - offer big discounts," said Prakash.
"True! Now, it's other-way round. Builders are desperate - not the property buyers!!," I said.
"That's what this exhibition is all about - so, I came for a good deal!," said Prakash.
2) No 'A' Category Builders - No Projects from East Pune - Vishrantwadi, Wagholi, Hadapsar!
Looking at the big bunch of brochures, I asked Rohit,"Happy? Good show?"
"This is Maharashtra Times Show - not Pune property show. No A category builders - Kumar Properties, DSK," said Rohit.
"You mean - the exhibition is only to promote Maharashtra Times?," I asked.
"Don't you think that a property fair should have projects from the entire city?," asked Rohit.
3) My budget is 25 lakhs - I want to buy a plot & construct a 4 room home
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| Mr. K, Property Buyer at Maharashtra Times Property Show, Sakhar Sankul, Shivaji Nagar, Pune, 31st August & 1st September 2013 |
"I am from Solapur. I have already built 4 room bungalow on 1 guntha plot for my parents. Now, I want to do the same thing at Pune for myself. I work at Talawade. At present I stay at Dhankawadi. Katraj, Hadapsar - Fursungi - Manjri are my preferred locations. My budget is 25 lakhs," Mr. K, not a real name, said.
"Did you find - like - any?," I asked.
"No. The ones - which were in my budget - were far away," said Mr. K.
"Then what?," I asked.
"I liked a 1 BHK at Ambegaon in my budget - possession is after 9 months - I prefer ready - or almost ready for - possession - flat - going to visit it tomorrow - but, you know? - this 1 BHK Flat is too small - not even 400 carpet - small size - high price," said Mr. K.
"Then why are you considering it?," I asked.
"They have started demolishing the unauthorized bungalows - then what is the point in investing in Jambhoolwadi - Mangadewadi?," said Mr. K.
"Why? Why now?," I asked.
"Yes! I asked the same question. Why now?," said Mr. K.
"What about Chakan - Talegaon?," I asked.
"Good. In my budget. Convenient from my office at Talawade. But what about tomorrow? Tomorrow - I may not be at Talawadi," said Mr. K.
"Yes, of course, no one knows about tomorrow. What are you going to do now?," I said.
"Keep on wasting my time - visiting these useless exhibitions," said Mr. K.
4) Life Crisis is Much More Serious than the Current Economic Crisis:
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| Mr. Suhas at Maharashtra Times Property Show, Sakhar Sankul, Shivaji Nagar, Pune, 31st August & 1st September 2013 |
Mr. Suhas was disappointed because there were no projects from his preferred area which were within his budget. Before I asked him - What is your budget - Suhas said that he knows that his budget is not enough for his preferred area.
"Then - thinking of changing the area or increasing the budget?," I asked.
"How can I do that? I own a property at Aurangabad. But I can't touch it - at any cost - and can't leave my current location - Yerawada. It's too costly to live at far away Wagholi or Dighi - you pay 10 lakh less - but end up spending a lot more on the cost of living at these far away places - for water - for petrol - for milk - for vegetables," said Suhas.
"How about increasing budget? Good life at Yerawada is better than the dead investment at Aurangabad. Isn't it?," I asked.
"No. Not at all. What about tomorrow? I am an IT engineer. Private job. No pension. How am I going to survive - if I lost the job or retired? What about the medical expenses? What about the education of my children? My property is my only power - support - solution - for all life crisis. You know? Three years ago a rate of a plot at Aurangabad was only 500 - now, it is 1500 per sq.ft. - and even if you go with a bag full of cash - you wont get a plot - because, no one is selling!," said Suhas.
"Aren't they aware about the declining price of rupee? Now, 1500 is not 1500 anymore - much less!," I said.
"True, But after the current land acquisition bill don't you think that land will be short in supply and an investment in a plot will appreciate a lot?," asked Suhas.
"Land is not less - shortage can be created of anything - because we are scarcity minded people," I said.
"Whatever! Point is - I can't - only - think of today - planning for tomorrow - is more important - so, I must keep on finding solutions for life crisis - visiting exhibition is one of them," said Suhas.
What say you?
Are you vising Maharashtra Times Property Show today, 1st September 2013? Share your views in the comments, please.
Related Stories:
1) The India of 2013 is not the India of 1991
2) 2013 Indian economic crisis: Is it as bad as 1991?
3) Impact of land acquisition bill on the real estate scenario in India
4) Land Acquisition Bill may push up property prices by 30%
5) Why rupee depreciation is bad news for the economy
6) Why is Indian economy stumbling
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I think prices of properties in Pune are hyped. Very much hyped. There has been appreciation of 50%-60% in last 15-18 months. Is income of families have increased that much ? Answer is simply no. Its just greed of builders and land holders which increase price by average 100 Rs a month. But there is limit for everything. 8-10 years back when IT was new and booming people considered becoming IT guy. But now they are considering builder line option. Now IT is down since last shock of 2009. Same shock will be applicable for builders ? Remember whatever comes up goes down and vice versa. Pune property prices till date never went down. However after reading todays Maha Times and TOI its clear that all the builders in Pune are struggling. So this fair was one of attempts to attract the customers. But prices are already high so evern outside of Pune is now out of budget for the Punekars. IMHO property prices in Pune will go down drastically as this trend is already started in the north India. Noida prices are down by 30% and pune is likely to follow the trend.
ReplyDeleteThis blog is very interesting and worth spending time on reading.
ReplyDeleteOnline property mela in dhamtari
I also feel the same way, I have visited couple of builders scheme, to found that most of the builders are playing games on their smart phones. Most of time, when i have visited no one were present.
ReplyDeleteBuilders are in real hiccup, and real estate bubble which gets blast in Mumbai, Bangalore, Delhi Noida, Ahmedabad, Rajkot... same will be followed by Pune.
Most of places has ready possession flats.
Moshi which was 3800 1.5 years back, is selling at current rates of 3300-3500
My friend has booked flat of 60 lack, and now currently good flat is available at 40 lacks.
I got really feared by the condition, when EMI is bagging the boots, and at the same time, what he has booked, is also depreciating.
After december, there were heavy price down, due to cummulative effect. As normally in janyary market resumes, black money gets diverted to other investement sources. This is the time where weak market gets weaker.