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Sunday, October 9, 2016

Take steps to prevent Pune flat buyer suicides

Builders in Pune are not driving flat buyers to suicide 
Pune builders are only assisting flat buyers to commit suicide

Take steps to prevent Pune flat buyer suicides
Image - https://pixabay.com/en/users/johnhain-352999/

Blaming builders has become a fashion.

Ask anyone who wants to book a flat - he will blame the builders for hiking property prices irrationally.

What does he do after blaming the builders?

He books a flat!

"Don't you know that the builder increases the price only if he gets a good number of bookings?," I ask.

"Yes! That's why I booked the flat!!," a flat buyer says.

"Didn't you actually help the builder to hike the property prices?," - I.

"Not really! I booked the flat before the builder hiked the property rates! I am smart. I knew - if I had not done it - someone else would have booked & the builder would have hiked the prices," - a flat buyer.

"Yes. You are smart. You must have read about piling inventory of unsold flats laying around in Pune. You must have read about stagnated property rates in Pune. Someone must have told you about oversupply and low demand for flats in Pune. You must have came across builders' desperate discount offers. Isn't it?," - I.

"Of course! I have read all about it. You know? I am Hinjewadi IT engineer. I read all these things all the time on my smartphone," - a flat buyer.

"Don't you believe in it?," - I.

"You know? If I have to remain alive - I have to book a flat - as soon as I can - no options - my parents are after me - how can I get a girl if I have no flat?.......They are driving me crazy," - a flat buyer.

"Did your parents buy a home when they were 28 - 29?," - I.

"That's not the point. What I have to do - I have to do," - a flat buyer.

"Why?," - I.

"Otherwise....how can I live? I can't live a shameful life," - a flat buyer.

"But the flat you have booked offers no status - no comfort - no convenience - nothing - isn't it a suicidal decision?," - I.

"I know! But that flat has saved my life," - a flat buyer.

"You have become a slave of a bank for life!," - I.

"Living as a slave is better than being dead! Isn't it?," - a flat buyer.

"Oh! It means that the builders didn't actually drive you to suicide!!," I say.

"No - my parents pushed me over the edge," - a flat buyer.

Dear parents, please, stop.

Prevent your son from committing financial suicide.

If you keep on pushing - remember - banks & builders in Pune are ready to assist your son to commit suicide.

Related Story:

1) Review of pre-launch offer of Vilas Javdekar Developers' Yashwin Hinjawadi - What if Hinjewadi IT Engineers were a little less stupid?

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
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For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
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Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
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  1. I've been following your blog since I came to pune and feel very reliefs seen there are people around who talk, mostly similar like my parents guiding, helping and feeling protective.

    With this post on Sunday and as per current market situation in pune is absolutely correctly timed. I've two properties now one in pune and second in my hometown brought as much I can manage after considering family current and future needs.

    Thanks again for keeping us updated and protective with your timely valuable posts.

  2. what's your view on pune real estate market. How long you think time correction will continue. Do you think there will be absolute correction will take place.

    1. I hope so, Gaurav! Pune real estate market will never be the same again. Of course, it doesn't mean that everyone can own a home easily.

  3. what's your view on pune real estate market. How long you think time correction will continue. Do you think there will be absolute correction will take place.

    1. This is a very good article written few months ago.
      Why Indian Real Estate Will See A Crash, Or At Least A Long Period Of Stagnation :

      SNAPSHOT :
      Real estate in India is overpriced, while rental yields are too low to make sense as a good enough investment.

      If the property market were to function as efficiently as the stock market, real estate prices should crash, but the market is rigged.

      The fundamental reason why property prices have to fall is because they are no longer affordable to the vast majority of Indian middle class households.

      If one accepts 4-5 percent rental yields as a reasonable level at which property makes some investment sense, it means prices have to crash almost 50-80 percent from current levels to equate demand and supply.

      The problem with predicting a real estate/property price crash is that you will look wrong most of the time. People were expecting a 2008 global financial crisis three or four years before it happened, but for much of the time before 2008 they looked like cassandras.

      And so it will be with Indian real estate. Those predicting a crash will look foolish for a couple of years, but prophetic when it actually happens. The current level of property price is unsustainable. It has to crash.

      Full article -


    2. Thanks TheMonk.Price to Income ratio is one of the highest in India

  4. Buying a property is an emotional decision over rationalism for potential buyers. The conscious mind overwhelms subconscious which turn out to be right most of the times. As we hear stock markets are ruled by two dominant emotions: Greed & Fear. Over here two dominant emotions could be : Greed & Inferiority Complex. There is no fear coz everybody feels RE bound to go up ONLY.

    In stock market, we use P/E ratio for fair pricing. As 'TheMonk' correctly pointed out that buying property should base upon some numbers, ratios like Rental yield. Builders have long back learned about owning property as social benchmark among rats participating in rat race.

    1. For me buying a home - should be considered as a financial decision. Because to buy a home you need lot of money.

  5. I have my self faced this situation. My marriage was called off one month before the actual date because I could not buy a flat on time.

    The mentality of parents (both girl and boy) needs to change. The girls parents are OK with their son-in-law to be a slave of the banks for lifelong. But, they want their son in law to have a own house.

    Girls also need to be mature and practical. In this uncertain job market, you cannot expect a 25-28 yrs old boy to purchase a 60-70 lac flat.

    As both boy and girl are earning, buying a house needs to be a planned and carefully thought decision. Buying a flat is not like buying clothes.

    1. Dude, I would count your self Lucky.. did you think wht would happen if you had booked the flat, got married and then builder didn't give you possession for 3-4 years..

    2. I completely agree with your every word, Genuine Buyer.

      What happened with you was certainly sad and painful - but it only proves that you are fortunate. You didn't deserve her.

    3. Genuine Buyer,
      This has to be due to your good karmas.
      Be grateful to god that you got protected from financial disaster by buying a flat as well as escaping to have a gold digger as your wife which would have led to total bankruptcy of your life, not just money.

      If you are still bachelor, welcome to bachelors club. There are lot of things to do in life than to buy flat & to say - I do.

      This is one of my most favorite ads. Those under pressure to get married should definitely see this & forward this to as many as possible. Apart from the message, I loved the voice.


    4. Past birth's karma saved u from getting married to silly girl n family. Ravi said it correctly - it's a financial decision. Prices have gone up due to financial institutions providing loans to this extent and term, fueled by tax breaks provided by government. Common man should understand these basics and then only take such decisions.

  6. Very thoughtful post Ravi.
    Most of the buyers actually don't even know why they are buying ? I have seen multiple cases where they say they buy flat so that there is forced savings on account of EMIs else entire money is blown away. Now which idiot told them that paying high interest to banks due to high priced flat is called as forced savings ? It is either the builders salesperson, banker or some of their yeda friends who too have done same thing.

    Having 10L in very low-medium risk investments easily gives returns of 10% per annum. This is called an ASSET.
    Putting this 10L as down-payment to buy flat of say 30L giving rental yield of 1.5%/annum is an EXPENSE, while the 20L loan which is taken for this flat is a LIABILITY.

    There is huge difference between INVESTMENT & EXPENSE; ASSET & LIABILITY; VALUE & PRICE.
    Most often, for most of flat buyers, both the things clubbed together here means one & the same. I really don't know how a flat can be called as investment when it's bought for self use with big loan ? No one factors in total cost of ownership, nor how ill-liquid real estate is.

    Those who look to buy flat so that they become more eligible for marriage is worst thing to do. Even if you get married, you end up marrying a gold-digger, loose your financial freedom which leads to poor quality of life which further creates rift between the two as the foundation of marriage itself was money. And even if this doesn't happen, then wife is forced to work only because they can repay the EMI. Idiots.
    And if girl marries you because you own (on loaned money) 2BHK flat at Wakad, won't she dump you for person having 3 BHK in Aundh ? These are gold diggers who can offer enjoyment for a cost. In our group, we call them as tissue papers !

    And this arrange marriage thing is a sort of curse in current system where the person is looked like a product. Boy looks for arm candy, boys parents thinks she can be good housewife, girls parents think they are marrying their daughter to 'well-settled boy' & girl thinks she is marrying ATM, LoL.
    Character, honesty, sincerity, simpleness, empathy....hardly anyone bothers about these. No doubt money is required, without money you can't do anything but such are some parents of girls that they will happily marry them off even to a guntha-mantri !

    There may well be listing for girls & boys on amazon or flipkart if they are marrying for first time, while those who are marrying for 2,3,4,5......times or already had slew of affairs, should be listed on Olx ! There will be no replacement policy.

    Some will even write a review - Delivery was quick, got it before time but horror started when I opened the box. The product I received is not the same as it's listed. Purchased it because I got it in a deal but feel cheated due no refund/replacement policy. Beware of this seller. If possible I would rate 0 star but can't so giving 1 star.

    # If you like my review, click on Yes button below as this inspires us to write more reviews (even for products which are not ordered, LoL).

  7. Some useful latest real estate news.

    No Diwali sentiments for real estate in India, says ASSOCHAM survey :

    Buried under high debt and inability of developers to complete and hand over the pending projects well beyond commitments to hard-pressed consumers, the troubled housing sector is not witnessing any festive activity this year despite the latest cut in the policy interest rate by the Reserve Bank of India (RBI), an ASSOCHAM survey said.

    Based on data and information collected from 250 builders in the Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun, the survey found that the demand for new projects is hard to come while new launches have come to a trickle, marked by lack of consumer confidence and cash deficit of the builders.

    Under such a scenario, demand for new launches, if at all there are, has come down by over 50-60% in Delhi-NCR and Mumbai while it is lesser by about 40-45% in Hyderabad and Chennai. In Bengaluru, the activity has come to a total standstill.

    The resale or secondary market is also dull this festival season, marked by drop of at least 20-25 in prices this festive season.
    The property analysts have predicted that till March next year the demand for plots, houses and flats may drop by at least 15 to 20%.



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  8. I have been following your blog since 2014
    My background in short: been there, done that BUT fortunately not in Pune. Being NRI it was tough for me to analyze market remotely but I was keen to catch this train of investing in properties. But 14 yrs. ago hardly I had been living in Pune for short span of 4 years. back in 2002 I had hardly hear Hinjewadi couple of times. But after 2010 when I was seeing many people were investing in Pune, I could smell lot of things fishy & preferred to put in property market wisely around 2012-2014 as I was not going via any mortgage but putting at one shot so I chosen second tier cities like Nashik, Baramati.
    Not sure if people will believe me, but luckily for both of my properties in these cities I found moderately known builders with no fame but had a chance to get ready-for-possession flats & opportunity to scrutinize quality. Lucky me, builders did complete projects in stipulated time.
    But I am thankful that your blog help me justify my conviction about most of the builder in Pune though I could not generalize it.