1) Suspicion and Mistrust about the Pune Builders:
Builders in Pune are not ready to accept that not the bankruptcy and insolvency but the trust deficit is their number one problem.
For sure, Pune builders know that the 'suspicion and mistrust about the builders' is the main reason we, as far as possible, avoid booking flats in their under-construction projects.
Pune builders know that suspicion and mistrust about them is the main reason for the slowdown in Pune real estate market, still, they refuse to accept and deal with it.
They do nothing to clear suspicion and mistrust in our minds.
They refuse to accept the reality and give up an opportunity - like CREDAI Pune Metro Property Festival - to remove suspicion and create trust in our minds.
Instead of respecting our concerns, Pune builders order us to say -
Say it with Pride
#IAmAPunekar
Pune is Home
2) Negative Impact:
I spent a lot of time - from noon to evening - at Credai Pune Metro Property Festival 2019 - last Sunday, 8th of December.
For me, the property exhibition is an opportunity to meet my blog readers and clients - clients mean the property buyers who have taken my advice about buying a flat in Pune real estate market - as well as builders' sales staff.
Obviously, everyone asked me - "Ravi, have you stopped blogging?".
To which I had a ready reply - "Not stopped. I took a break. Starting soon"
But after this small talk, everyone expressed concerns about some big builders who didn't participate in the exhibition.
The list started with old and established builders like Paranjape Schemes - Kolte Patil and ended with new and noticeable builders like VTP. Some even included out of town builders like Adani, Shapoorji, and Piramal!
Big means deep trouble. Someone said.
Big or small doesn't matter anymore.
In fact, now, no builder is a brand.
Everyone is a commodity.
Everyone is at the mercy of channel partners.
Those who didn't participate are smart.
They didn't waste their money on an unproductive activity like this exhibition.
Whatever may be the reason for non-participation but the impact is the same.
Negative sentiments and increased suspicion and mistrust about Pune real estate market.
3) Emotionally Bankrupt Pune Property Buyers:
All of us know that booking a flat in an under-construction project is risky.
Comparatively, buying a ready possession flat is less risky.
Whereas renting a flat is a safe and sound idea.
Though we know this, some of us become a victim of emotional pressure.
At some point, particularly when they cross 30, they can't defend themselves.
By not accepting their rational ideas, their close ones hurt them emotionally.
When these emotionally hurt brothers start searching home.
They realize that their budget is too less.
This hurts them more.
They realize that their success in education and career has no value in the property market.
As a property buyer, they are nothing but losers.
Today, these emotionally hurt brothers have become the targets of the builders in Pune.
Most of the builders who have participated in this exhibition were offering compact flats that will fit in the budgets of these emotionally hurt brothers.
"This flat fits in my budget. But can my family fit into this flat? It's too small!" our brother asks himself and leaves the exhibition.
Completely disappointed.
Totally hurt. Emotionally.
"How long can you resist? You have no option but to accept what I offer. Surrender or rent. You have no option" - The builder insults our brother.
Visit to a property exhibition becomes an emotional disaster.
This home buying experience bankrupts our brother emotionally.
He stops searching for property. He postpones home buying decision.
He has an option. An option of renting a flat as long as he can.
But the builders in Pune have no option.
Their business runs on the property buyers' money.
The only option they have is being in the denial mode. Till they announce bankruptcy.
When some journalist asks the builder - How was the response to the exhibition?
A builder in denial mode says - "There is a demand. But the buyers are sitting on the fence. All this is because of the slowdown in the economy, low GDP growth, GST on the property, demonetization, job uncertainty, etc."
Most of the products we consume are 'democratized'. Which means that most of us can have what we want. When we want. Because things have become gradually cheaper. Transportation has become faster, affordable and safer. Food and clothing are ample. Then why only housing is such a big issue?
Who is ready to solve this issue? Please, let me know in the comments.
Photowalk of Credai Pune Metro Mega Property Festival 2019:
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credai pune metro mega property festival 2019
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| The Construction Group |
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| Pride Purple Group. Pride World City, |
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| Kumar Properties |
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| Nyati Group |
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| Gera Developments |
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| Atul Enterprises |
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| Mittal Group |
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| Jhamtani Group |
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| G K Associates |
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| Shree Venkatesh Buildcon |
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| Rachana Lifestyle |
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| K Raheja Corp Pune |
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| Goel Ganga |
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| Rohan Builders |
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| Goel Ganga |
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| Magarpatta, Nanded City Pune, Riverview City |
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| Magarpatta, Nanded City Pune, Riverview City |
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| Shiv Zen World Manjri, Shiv World |
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| Naiknavare Developers |
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| Vilas Javdekar |
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| Mittal Brothers, Mittal One Place Commercial Spaces |
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| Pharande Spaces |
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| Rahul Construction Company |
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| Godrej Properties |
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| Golden Bricks Properties Group, Golden Winds Lohegaon, |
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| Kothari The Leaf Yewalewadi Pune |
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| Sukhwani Hermosa Casa Magarpatta Road Mundhwa Pune, Prasun Sarvam Kharadi |
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| Mantra Properties |
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| HDFC |
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| Nirman Developers |
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| Kumar Hill View Residency Kothrud Pune |
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| Siddh Amara Bavdhan, Siddh Group, |
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| Perfect 10 Balewadi, Sunshine Hills Katraj Kondhwa Road Pune |
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| Gini Constructions |
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| Achalare Realtors |
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| Amar Builders |
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| xrbia |
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| Nandan Buildcon |
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| Icon Group Pune |
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| Aditya Builders |
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| Malpani Group |
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| Saarrthi Group |
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| Arvind Smart-Spaces |
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| Tanish Group Bhakti Alandi Pune |
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| Vascon Engineers |
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| Sharada Erectors |
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| TCG - The Crown Green - The Cliff Garden - Hinjewadi Pune |
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| credai pune metro mega property festival 2019 |
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| Kohinoor Group Pune, |
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| SBI |
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| Bhaktamar Residency Wadgaon Sheri Pune, |
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| icicI |
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| Pyramid County Bavdhan Pune |
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| Bramha Corp |
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| Rama Group Pune, |
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| Rama Group Pune, |
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| Raj Housing Corporation |
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| Sanjeevani Group |
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| Kakkad Group, Kakkad Madhuban Balewadi Pune |
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| Profile Properties, Profile Empyrean Pashan Sus Road, Profile Developments |
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| Dynasty Developers 7th Heaven Dhanori Pune, |
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| c |
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| Yashada Realty Group |
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| Abhinav Group, Rainbow Housing, Siddhesh Developers, |
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| Mumbai Grahak Panchayat |
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