Property Festival of Positive Vibes

Pune flat buyers give a good dose of hope to participating builders in CREDAI Pune Metro Mega Property Festival:

CREDAI Pune Metro Mega Property Festival of Positive Vibes

"I am humbled by the generosity of the Pune flat buyers," with tears in his eyes, one salesperson said.

"Look around.....all are genuine buyers.......no crowd of casual visitors.....in 3 days I got some 200 serious enquiries.... just imagine what will happen even if 2 - 3 per cent of these guys booked flats in the next 3 - 4 months......this is overwhelming...." wiping his eyes the salesperson said.

"3 - 4 months! Why?," I asked.

"Now a days flat buyers take that much time to study and compare all options.....they not only visit sites 2 - 3 times to negotiate the price and check the progress of the construction - they do online research too - and book only when they are sure," the salesperson said.

"But some have booked in this exhibition itself!," I said.

"Those are exceptions....," the salesperson said.

"If the booking is going to happen after the usual 3 - 4 months followup - why are you so happy about the exhibition?," I asked.

"Because....though in the last 2 - 3 months number of enquiries & site visits have substantially increased - I don't get 200 enquirers in a month!," the salesperson said.

"Why are site visits increased?," I asked.

"Mainly because of MahaRERA.....buyers have started feeling safe," the salesperson said.

"Are they really safe?," I asked.

"Sentiments matter! Of course, GST is still a big threat....that's why most buyers prefer to go for ready possession flat...no GST on ready possession....straight away you save 12% ," the salesperson said.

"But everyone is passing input credit - no GST impact offer!," I said.

"General perception is - builder recovers that amount by increasing property price - so no GST impact offer doesn't work....buyers have become very smart," the salesperson said.

"Good to know that there is only one hurdle GST!," I said.

"DSK is a bigger hurdle than GST!," the salesperson said.

"But DSK is no more in the running!," I said.

"That's a blow to the entire industry! Old and big builder has become a risk. Flat buyers prefer new & lean builder. Look around. You will find that old established builders' stalls have less visitors.....multiple ongoing projects is no more a qualification!," the salesperson said.

"Then what is the qualification?," I asked.

"Ready possession...or at least early possession," the salesperson said.

"What about the property price?," I asked.

"Banks are there to care of the price!," the salesperson said.

"How?," I asked.

"See....major problem is no one has money to buy a property....so more than the property rates...home loan offer plays important role in flat booking," the salesperson said.

"You mean to say that - only those who have their own money can dare to negotiate rates?," I asked.

"Yes! Beggars can't bargain! You know how much money people have in their accounts? Most have only 5 - 6 per cent of the property cost! No one has 20 per cent own contribution - still, they can book a flat because these banks are offering 95 - 100 per cent loan - subversion schemes - differed payment options!," the salesperson said.

"You mean to say that all these people in this exhibition have empty bank accounts?," I asked.

"Yes! They know that if the banks refuse to lend them 95 - 100 per cent of the agreement value - the banks will go out of the business! Today's buyers are very smart!," the salesperson said.

"It means that this is the gathering of empty pockets!," I said.

"Yes! Our pockets are empty but our hearts are full of positive sentiments!," the salesperson said.

"Yes! I feel positive vibes all around!," I said.

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1) 2018 will be Pune flat buyers' market

2) Visit CREDAI PUNE METRO Mega Property Festival - Today or Tomorrow

3) How to use RTI in your day-to-day life - Empowering Moneylife Foundation Seminar at Pune!

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