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Tuesday, December 6, 2016

Give up hope of buying a flat in Pune - CREDAI

"Don't be stupid. 
Stop spreading rumors in the mainstream & social media. 
Because of the demonetisation of 500 & 1000 rupee notes 
the property rates in Pune real estate market are not going to go down." 
Announced Mr. Shantilal Kataria, 
President CREDAI Pune Metro in a press note.

Give up hope of buying a flat in Pune - CREDAI

When it comes to real estate market in Pune
CREDAI Pune Metro is the final authority.
Recently, we have realized this in the case of
Pradhan Mantri Awas Yojana - Maharashtra Housing Day
- 1 BHK Flat for Rs. 5 Lakh offer by Maple Group.
CREDAI Pune Metro certified that it was not a scam but a genuine offer.

When the president of CREDAI Pune Metro, Mr. Kataria announces that
the property prices in Pune real estate market will not go down
the flat buyers have to accept that as an ultimate truth.
Because in Pune real estate market the flat buyers do not matter.
In Pune real estate market only builders matter.

Removal of black money will reduce the property prices in Pune
and we will be able to own a home
was the hope of frustrated & frightened flat buyers in Pune.

A hope of being able to own a home in Pune is nothing but a weak & cheap sentiment
aroused in the ignorant minds of aspiring young flat buyers.

Yes, just hope. Not a fact. Not reality. Says Mr. Kataria.

Fact of the matter is - because of the demonetisation
& all other initiatives of Modi Government - like -
GST - Goods and Service Tax,
RERA - Real Estate Regulation Act,
Smart City Mission,
Swacch Bharat Mission,
infrastructure development programs like ring road, Metro & Local Train etc,
and the effects of these initiatives like -
job creation,
low home loan interest rates,
foreign direct investment etc.
are going to boost the demand of housing.
And the high demand will increase the property rates in Pune.

What is the intention of Mr. Kataria behind revealing the truth of impending property rate rise in Pune real estate market?

The reason is certainly not to insult the aspiring flat buyers in Pune.

The reason may not be to clear the myth that Modi Government is pro young citizens of India.

The reason may not be to claim that like previous governments, Modi Government is also the builders' government.

My guess is - Mr. Kataria wants aspiring flat buyers in Pune to enjoy a good life.

His hidden message is -

Stop hallucinating of being able to own a home.

Give up hope of owning a home.

Stop saving for down payment.

Start splurging. Shop till you drop.

Instead of visiting builders websites - keep on browsing Amazon and other online stores apps on your mobile.

Instead of visiting property exhibitions - visit shopping malls & multiplexes.

Instead of visiting builders' site offices - have a great time in pubs, restaurants & resorts.

In short, the president of CREDAI Pune Metro says, don't bother us.

How noble are Mr. Kataria's intentions!

He has told us something which our parents never told us.

Parents are insisting to buy a flat and settle down - which is practically impractical in this age.

Mr. Kataria has told us which everyone of us wanted to tell his or her spouse but never dared to say so bluntly.

Don't assume that only death can do us part. Lifestyle, job, colleagues, drinks & drugs, sex are more powerful than the death.

Life is not secure anymore.

We all are floating.

There is no job security.

Possibility of becoming unemployable is certainty.

Artificial intelligence is ready to take over our jobs.

Raising a child has become unaffordable.

Education is very expensive.

Medical treatment is exorbitant.

Jobs are making us mentally & physically unhealthy & unfit.

There is no pension. No social security.

No one knows how to survive the old age.

In this situation what is the point in saving for down payment and keeping on paying 50 - 60 per cent of monthly income as EMI for the next 20 - 30 years?

Enjoying every day as the last day of your life - make sense.

Instead of becoming a homeowner - becoming a consumer is more fun.

Instead of paying EMI - paying rent is cool.

Giving up hope of buying a flat makes sense.

Thanks Mr. Kataria, president of CREDAI Pune Metro, we will not wait & watch for property rates in Pune to go down - we will never aspire to book flat - we will never bother the builders in Pune.

May god bless you with ever increasing property rates in Pune real estate market.

Related Stories:

3) Pune property rates will keep on going down

2) How to survive the sinking Pune real estate market

1) Renegotiate the agreement value of your flat

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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.

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Branch- Bajirao Road Pune MICR Code 411014010.
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  1. wonderful; high time for buyers & builders introspect what situation they are in & then act!

    1. @ Sanjay D,
      Last weekend, saw one of your article in builder mouth-piece Sakal ! Good thing is this time it was mentioned that the author (you) is builder. Don't know why they weren't publishing this till now. Positive change I must say.

      Btw, upcoming big Indian real estate crash is being informed even in US media.

      India’s Currency Ban Hits Real-Estate Market -
      With many buyers now on the sidelines, sales have evaporated and huge price discounts are expected.


  2. During boom period when property prices were going up every month, did Lashkar-e-CREDAI used to take press conference informing that prices will go up, buy now or it's never etc. ? So why now ? When someone gives explanation without asking, it means either the person is lying, hiding something or both.
    Since prices are going up as per Lashkar-e-CREDAI, Shantilal Kataria & his fellow comrades should relax & shouldn't bother about what people are discussing about real estate.

    - Friedrich Nietzsche

    50% fall in queries by homebuyers, sales slow after demonetisation -

    Real estate experts say the correction over the last one month has been anything in the range of around 20% to 30% in case of resale (both apartments and land) and commercial properties as these asset classes are considered as a safe haven for parking black money.


  3. Very well sarcastically written Ravi sir.. I am fan of yours now..I felt the same when heard the words from CREDAI.. these money launderers will never understand the pain of common man.. and not able to aford a house..they only breath, eat and shit money..they are more than 100% with Pune builder lobby and would never let the housing market price go down even after 2 years of stagnation in the housing market..I don't understand when there hunger for the money be quenched...

  4. I think Mr. Kataria is frustated due to present situation of Pune real estate market...

  5. I really like your blogs.
    It's feels good and gives us a hope that there is a chance that house prices will go down... otherwise everyone from builders to people like Me Kataria wants prices to grow like our population.
    This RE industry is insane...

  6. Very well written. It seems the things you have written is not sarcastic but the fact in today's world. Raising a child & Medical Treatment really now appears as Mammoth task.

  7. Just read today that Mah govt is going to implement a new real estate law where builder has to sell on carpet area instead of buildup area. can you please write a blog on all those changes and how soon this could be implemented. Really looking to buy a house in Pune, but with this news i think its better to wait and watch. Please advice, Mr Ravi and TheMonk.

  8. Awesomely written Ravi Sir! Government should scrap this bloody CREDAI... They have been looting innocent n genuine buyers for long time.. Now the time has changed.. Its our turn to laugh and their turn to cry.. Let them keep crying..

  9. Lashkar-e-CREDAI alongwith hoarders should ready this news -

    Real estate investments turn sour for HNIs -


  10. Credai simply cares for the benifits of greedy Builder fraternity. EMI is 3 times more than the rent... so its always better to opt for rented flats in pune rather than purchasing.