Go for Profit Booking in Pune Real Estate Market

NRIs & Investors, Right Time to Sell Your Properties in Pune and Earn Handsome Profits before Over Heated Pune Real Estate Market Goes Down!:

Amit, Minneapolis, Minnesota, USA at The Times Property Showcase '11 - at Le Meridien, on 27th November 2011

Amit has settled down at Minneapolis, Minnesota, USA. On vacation, Amit has come down to Pune. To be with his parents, meet relatives & friends. And to make important decisions about his real estate investments in Pune.

When Mr. Amit met me at Times Property Showcase at Le Meridien on 27th November, my real estate salesperson friend, working with one of the 'reputed' builders in Pune, and I were making sarcastic comments about each and every visitor in the property exhibition.

At first glance, i thought that Amit must have just comeback from 'the site'. Because of the Dollars earned at the site, he must be 'on high'. Curious to know who was the lucky builder in Pune who got this 'Bakara', i asked Amit, "Did you find your dream home in this exhibition?"

"Good exhibition! I had a plan to invest in Pune real estate. This property exhibition helped me to decide. Now, I am not going to buy property. But, sell!," Amit said.

"Surprising! I haven't heard anyone from US talking about selling his property in Pune!!," i said.

"Ravi, these are the smart people who read between the lines on your blog! Those who call you to ask about buying are poor fellows who have missed the bus and are repenting for not investing before 2007!," Amit said.

"Yes! I completely agree with you!! Those who can read between the lines are the smartest Pune real estate investors! But, i don't suggest they sell. In fact, i ask - where will you reinvest if you sell at this point of time? So, even i want to know why one should sell now!," I said.

"We, those who live in US and Europe, know that the world economy is in trouble. Even the finance minister of India has also accepted that the financial crises in these economies may - seriously - affect India. But, home buyers in Pune who are suffering - 'awareness lag' - still haven't realized that the situation is - risky. But builders in Pune are aware about the - impending danger - and are trying to make as much as they can before the market - goes down - property buyers stop booking completely. That's why they are advertising and participating in these exhibitions. So, it's a signal - an alarm - for the investors to sell their properties and en-cash the profit!," Amit said.

"I completely agree with you! That's why i urge all home buyers to stop booking a flat in an under construction or recently launched projects in Pune real estate market. And, if it's - urgent and important - to buy a home - at this point of time, please, go for the ready possession or a resale flat. But, why investors should not hold on? Don't you think that - if you hold 'now' - you can reap more appreciation when the market will come out of the danger - bounce back - like the last time?," i asked Amit.

"How can you hold on the property for a couple of years more - which has become 'unmarketable' - not worth buying - today itself? You know? About 5 year old properties in Pune - which look like "रद्दी" - old newspapers today - may become "भंगार" - junk - in the next 3 - 5 years - you know? - even most of the properties in the recently launched projects in Pune - i visited in this vacation - 2 BHK for 60 and 70 lakhs - or 3 BHK for 1.3 Cr - may not be able to hold their prices - so - point is - home buyers can afford but the investors can't afford to ignore the actual worth of the property - so - investors sell your properties now!," Amit said.

"Yes, you retire the horse with a broken leg. We know that 'doping' athletes and 'match fixing' cricketers vanish. I agree with you about selling investment properties in Pune. And, not investing in the recently launched projects at the irrational property prices. But, Amit, tell me - What are you going to do? - Where my NRI investor readers should invest?," i asked.

"I am going to invest in USA! I am going to get a loan at 4 per cent and invest in a 150 Thousand Dollar Property - around 77 lakhs rupees - which will give me rental income of around 60,000 rupees - 1150 US Dollars - per month! Can i get that much income from your 77 lakh 3 BHK Flat in Wakad or Kharadi in Pune? If not - then - why should i remain invested in Pune real estate market?," Amit said.

"You know? Amit you sound like Bhushan, my cousin in Sydney Australia. He says - Ravi, you write about Pune real estate market but invest in Sydney!," i said.

"Follow his advice! In fact, every Punekar who has a relative or a friend - should sell his investment properties in Pune and invest in US or in any developed economy!," Amit said.

Dear NRI readers, you always comment about getting better property in your country at the same price builders in Pune demand.

Now, please, share your comments on Amit's views! Is it the right time to sell your properties in Pune and invest in US or in your city in Europe and Australia?

I don't know whether investing in US is more profitable or not. But, i know well that this is the right time to sell your investment properties in Pune.

Dear, NRI readers, please, keep in mind that Pune property buyers are ready to buy your property in the known areas of Pune - than going for the under construction projects - in odd locations or - in the fringe villages - which will be delayed in the uncertain economical and political 2012 - 13!

Related Stories:

1) WEDNESDAY, AUGUST 17, 2011

Buy a ready possession flat until there is no real estate regulator!

2) FRIDAY, AUGUST 19, 2011

Why do we borrow at high interest rates and offer interest free funds to builders?

3) MONDAY, AUGUST 29, 2011

An Agreement to be a Slave of a Builder

4) FRIDAY, SEPTEMBER 9, 2011

High Property Prices - Why does Government give a free hand?

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NRI property buyers are still shopping in Pune real estate market!

Call 91 98600 44110 for free home delivery!

"Ravi, i have come from LA with only your mobile number in my purse," she said.

"Oh! Great!! Madhuri, is it you?," i asked very confidently. But before i could ask, "How is Ram?", the caller said, "I am Pam. Pramila!"

"Hello Pam! Why did you take trouble to fly down to Pune? We could have met at Vegas," i was not sure about her identity or intention. But for sure, i was not ready for one more fight with my wife.

We were just recovering from a fight over an unexpected guest who dropped in and settled down in my father's vacant bedroom in my flat which i use as my home office.

My wife took some time to accept that it was not about sharing a bedroom but my guest's interference in her kitchen irritated her. Certainly, my considerate guest agreed to spend more time in her bedroom, which was my home office, and focused on inspiring me.

"Ravi, very funny. I have come here to buy a property. My husband is planing to retire in a couple of years and settle down in Pune. So get down to business and suggest me some good properties," Pam said.

"Oh! Pam, my dear reader from LA!! How exciting!!," i thanked Pam and we went on talking about Pune real estate market. As i have done with my US readers in the last couple of months.

Welcome to Pune real estate market!

In the month of December - January talking to my visiting US readers has become practically my part time job. But in February number of visitors have come down to only one per day. I certainly missed you all. I am not sure how much i was useful to you but for your convenience, i am going to follow your request and start accepting payments by cheque. In coming years, we have to be more generous to all those Indians returning from US. Should't we?

However, i was very much sure that last NRI has gone back to US, until yesterday evening, i visited Samrajya, second phase of Pethkar Projects' Balwantpuram at Shivtirthnagar, my neighborhood, on Paud road in Kothrud.

Kothrud - last sanctuary:

From my first post on the launch of Samrajya, NRIs from all over the world has visited the blog but nobody has called me to talk about Pethkar Project's Balwantpuram. I somehow knew that no Punekar or Mumbaikar needs my advice to book in any project in Kothrud. Kothrud has become last sanctuary of Pune. Which not at all resembles in looks but gives you the familiar feel of being in Pune.

Pethkar House Factory:

I don't look at Samrajya as a real estate consultant and blogger but only as a neighbor. I admire it more than take a critical look. Initially, i was happy about Samrajya because it was one of the few townships, which has all modern amenities like swimming pool and clubhouse, in the old developed part of Pune.

But recently, i have started admiring Pethkar Projects' Samrajya for it's investments in systems and construction facilities.

Pethkar Projects have big plot of land. Even after constructing 72 flats in Ornate Park + 275 flats in Shefalika Heights + 224 flats in the first phase of Samrajya, Pethkar Projects has enough land to construct more than 375 flats and more in the next phases.


I enjoy taking a walk on the road which divides Balwantpuram into 2 parts.

On one side of this road, there is a completed 1st phase of Samrajya, in which families are already living and the 2nd phase which is under construction.

On the other side of the road are upcoming 3rd and 4th phases of Samrajya, where at the moment, Pethkar Projects have their steel yard, workers camp, concrete mixing unit and other facilities.

Besides this infrastructure, what i enjoy most is watching and talking to Pethkar Projects busy engineering staff and always smiling salespersons in their brand new sales office.

When i take a walk and see this infrastructure, i feel as if i am visiting some industrial manufacturing facility. Which is a rare feeling. Because, generally, construction site, small or big, looks like a traveling circus. Make do, functional, temporary arrangement.

Denver Maharashtra Mandal:

I was telling you about what happened yesterday evening. While taking a walk and looking at the second phase of Samrajya, i saw a family in the under construction building. One gentleman, must be the member of that family, was standing out side the sales office, playing with his kid as a dutiful father.

Nowadays, i get very excited even if i see a single property buyer at any site. But to avoid a disappointment, i always assume that they have already booked their flat and are at site only to discuss the changes or to argue about delayed possession.

So after saying hello and all, i asked him whether he has come for "the changes" in his flat or to see the progress of the work. He said that he has come for booking a flat! "Booking! From where?," i asked him. "Denver!" he said. "I see." i said as if Denver is near Peru Gate. I took his leave because my free talk time limit of 5 minutes was almost over and i went into the sales office of Samrajya.

Obama ki Jai Ho!

"Congrats Swati! When other builders are renting out their properties, you have customers eager to book at Samrajya!" i tried my best to cheer her up. "Booking? See, we have done couple of agreements today. All are NRIs. In a hurry to go back!," Swati, experienced real estate salesperson and marketing manager of Samrajya told me very proudly.

"This must be the last NRI in Pune," i said. "Or may be the first out of 1 lakh returning Indians!," she said. "Obama ki jai ho!," i added to her.

Do you peep into the kitchen of the restaurant?

How do you decide to book a flat? Is visiting sample flat enough for you to make up your mind? Do you take trouble to find out construction facilities and the process of the project in which you are planning to book? How do keep yourself updated about the progress of the construction if you are not in town?

Do you think i should write more about the progress of the construction? Please, share your views, experiences and suggest me the projects i should write about in the comments. (Comments Policy),

Feel free to call me:

I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 5 minutes!) Call +91 98600 44110

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Pravasi Bharatiya Divas Convention, Chennai Trade Centre, Chennai, 7-9 January 2009 - preparations are in full swing

PBD-2009: Engaging the Diaspora – The way forward

1,500 delegates:

Being organised by the Ministry of Overseas Indian Affairs, Government of India in partnership with the Government of Tamil Nadu and the Confederation of Indian Industry, this biggest ever PIO/NRI event in Chennai is expected to draw over 1,500 delegates from different parts of the world.

Platform for NRIs/PIOs:

Ever since its inception in 2003, this annual convention has been the biggest platform for NRIs/PIOs to engage with the Government and people of India in matters of mutual interest and for networking. These Conventions enable the Government of India to better understand the expectations of the Overseas Indians from the land of their ancestors and to acknowledge their role in India’s all-round development. Discussions at these conventions have been very productive and fruitful for both the sides and have led the Government of India to take several measures to further strengthen the existing bonds of affinity and cultural linkage with the people of Indian origin.

Decisions:

Decisions taken by the Government of India as a result of wider consultations held at such Conventions include:
1) formulation of the Overseas Citizenship of India Scheme,
2) establishment of Overseas Indian Facilitation Centre,
3) conceptualisation of a PIO University,
4) formation of Prime Minister’s Global Advisory Council of People of Indian Origin, and
5) setting up of an India Development Foundation.

Programmes like Know India Programme and Scholarship Programme for Diaspora Children are designed specifically for Diaspora youth.

Theme and Sessions:

The theme of PBD-2009 is ‘Engaging the Diaspora – The way forward’.

There will be four plenary sessions entitled:
(i) “Indian as an Emerging Power: The Diaspora Factor”,
(ii) ‘Reflections on the Current Economic Crisis: Diaspora Concerns’,
(iii) ‘Preservation of Language and Culture of the Indian Diaspora’ and
(iv) “Diaspora Interaction with the States”.

Separate regional sessions on ‘Caribbean’ and ‘Canada’ would be the distinguishing features of the forthcoming convention apart from the regional sessions on ‘Africa’, ‘Asia-Pacific’, ‘Europe’, the ‘Gulf’ and the ‘USA’.

There would be Building Bridges sessions on:
‘Trade & Investment’,
‘Diaspora Philanthropy’,
‘Diaspora Knowledge Network’,
‘Media & Entertainment’,
‘Health for all: Role of Diaspora’, and
‘Increased Interaction with Diaspora women’.
There would be separate State sessions for the major participating states.

The Prime Minister, Dr. Manmohan Singh will inaugurate the PBD Convention on 8th January. The President of India, Smt. Pratibha Devisingh Patil will deliver the valedictory address on 9th January. She would also confer the Pravasi Bharatiya Samman Awards for 2009.

Apart from Dr. Kalaignar M. Karunanidhi, Chief Ministers of several other States are expected to attend; including Shri V. S. Achuthananthan and Shri Narendra Modi, Dr Y S Rajasekhar Reddy and Mr Bhupender Singh Hooda. A large number of Union Ministers would also be attending.

The Vice President of Surinam, Mr. Ramdien Saredjoe would be the Chief Guest. The Vice President of Mauritius, Mr. Angidi Chettiar, Ministers from Malaysia, Mauritius, Sri Lanka, Singapore, South Africa and Canada are among prominent PIOs who have confirmed their participation. Former Prime Minister of Fiji, Mr. Mahendra Chaudhury and former Minister Samy Vellu from Malaysia would also participate.

Prominent among the speakers to address the gathering include CK Prahalad, Sam Pitroda, Sugata Bose, Renu Khator, Shashi Tharoor, PT Usha, N. Ram, Lord Diljit Rana, Baroness Shreela Flather, Thomas Abraham, Gopinath Pillai, Rajinder Paul Loomba, TP Naidoo, Mahyendra Utchanah, Deepak Obhrai, Yusuffali, Professor Rajesh Chandra, Sat Pal Khattar, Hari Panday, Dr. Ravi Seethapathy, Sam Chandrasekar, Loganathan Naidoo, Meera Ravi, Justice Mohini Murugeshan, Professor Narana Sinai Coisoro, Mohammed Dewji, Dr. Alok Mukherjee, Professor M. K. Gautam, Albert R. Ramdin, Dr. Prem Misir, Dr. Philomina Ann Mohini Harris, Anand Ramlogan and Ashook Ramsaran.

A special Trade and Industry Exhibition with participation from Corporate, Financial Institutions, State Governments, NGOs and others will form part of the event. The Overseas Indian Facilitation Centre (OIFC) will set up a Market Place at the venue to facilitate business and investment. Art Exhibitions, Crafts Exposition and cultural programmes would also form part of the event.

The preparations and arrangements for the convention were reviewed by the Minister for Overseas Indian Affairs, Shri Vayalar Ravi, during his visit to Chennai on 26th December. He pointed out that the PBD-2009 has assumed greater significance in view of the global economic crisis that created a need for increased interaction between India and the ‘people of Indian origin’.

PBD Chennai is expected to carry forward the constructive engagement with the Diaspora with renewed vigour.

PIB Press Release

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12) Paranjape Schemes' Crystal Garden on Baner-Pashan Link Road and the beginning of a new world, Blue Ridge at Hinjewadi!

13) Lavasa - bookings for the 2nd phase to open in the coming festive season