Ravi Karandeekar's Pune Real Estate Market News Blog: property trends in Pune

Showing posts with label property trends in Pune. Show all posts

Saturday, January 2, 2010

Ravi Karandeekar's Pune Real Estate Market News Blog - 50 popular blogs of 2009

3,77,132 Thank Yous!

1) Saturday, February 21, 2009
Paranjape Schemes opens booking of first 200 bungalows in Forest Trails - 140 acre township at Bhugaon, 10 -15 minutes away from Kothrud and Hinjewadi

Forest Trails, Bhugaon - Sample Bungalow

2) Thursday, January 8, 2009
Property rates in Pune real estate market

3) Monday, February 2, 2009
Rohan Builders cuts property rates of Leher and Mithila by Rs. 600 per sq. ft. and 'agrees' to reduce your booking rate in case of future reduction!

4) Sunday, December 13, 2009
Megapolis Hinjewadi Phase 3, Pune - Are you investing in a 1 BHK for Rs. 16.87 lakh or a 2 BHK for Rs. 25.34 lakh Smart Home?

5) Monday, May 25, 2009
Amanora Trendy Homes - Pre-Launch Offer

6) Saturday, April 25, 2009
nano homes, Ravet in Pimpri Chinchwad, offers (limited period) 1 bhk flat for Rs. 11.97 lakhs and 2 bhk flat for Rs. 14.94 lakhs (conditions apply)

7) Sunday, February 15, 2009
What should be the rational property rate of Blue Ridge Hinjewadi?

8) Wednesday, September 9, 2009
3 bhk flat of 1,400 sq.ft. for Rs. 35 lakhs (approx.) - most preferred property in Pune real estate market!

9) Monday, June 1, 2009
Swiss County Too, Thergaon - Wakad annexe Pune - launches 2 bhk flat of 655 carpet for 26 and 3 bhk flat of 815 carpet for 31 lakhs

10) Tuesday, March 31, 2009
Insignia - housing group formed by IT professionals working in Hinjewadi, Pune, finalizes their first scheme of 2 and 3 bhk flats and Town Houses

Forest Trails, Bhugaon - Sample Bungalow

11) Saturday, July 4, 2009
Kumar Properties' celebration offer - Rs. 430 per sq.ft. discount on property rate and a gold coin!

12) Saturday, June 20, 2009
Silver Mist, Pimple Saudagar, Pune - 2bhk for 22.32 and 3 bhk flat for 26.91 lakhs - an unbelieveable property price?

13) Sunday, May 3, 2009
DSK Vasantotsav - A daring effort for reducing real estate prices begins from today

14) Thursday, April 16, 2009
Can’t afford a home in Pune? There’s one up for grabs in.....

15) Saturday, June 6, 2009
Aldea Espanola, Near Balewadi Stadium, Baner Pune - quick review!

16) Tuesday, January 8, 2008
Everybody in Pune is talking about Magarpatta City's upcoming project 'Nanded City' on Sinhgad Road

17) Thursday, April 2, 2009
Anand Jog, Director - Darode Jog Properties, on budget homes and property rates of Greenland-County at Narhe Ambegaon, off Sinhagad road, Pune

18) Wednesday, June 10, 2009
Rohan Builders' upcoming project of cozy 1 bhk, 2 bhk and 2.5 bhk flats at Bavdhan

19) Saturday, August 22, 2009
Nandan Prospera - if you are planning to invest 60 - 70 lakhs in Pune real estate market, first visit this property near Sadanand Hotel, Baner

20) Wednesday, May 27, 2009
Nanded City Pune reduces the property rate to Rs. 2,500 per sq.ft.

Forest Trails, Bhugaon - Sample Bungalow

21) Wednesday, August 6, 2008
To know more about Tanaji Malusare City at Karjat, please, visit their website www.tmcity.in

22) Tuesday, April 29, 2008
Kumar Properties' Megapolis at Hinjewadi - 3rd integrated township after City Group’s Amanora Park and Paranjape Schemes' Blue Ridge

23) Saturday, April 11, 2009
Mont Vert reduces property rates, infrastructure charges & offers 11 months rent as an additional discount for spacious flats in Tropez at Wakad, Pune

24) Sunday, January 4, 2009
Sara City, a 50 acre mega township at Chakan, offers 1 BHK flat for Rs. 6.99 lakh!

25) Friday, August 28, 2009
InSignia_Pune News - Hooray! Only SIX 2 bhk flats, for Rs. 24.50 lakhs, to go!

26) Thursday, May 14, 2009
D. S. Kulkarni Developers opens booking of 1 bhk flat for 17.80 lakh and 2 bhk flat for 27.66 lakh at Baner and 1 bhk budget flats at Bavdhan!

27) Monday, November 16, 2009
Property rates and budgets of 2 bhk flats in Pune real estate market

28) Monday, July 13, 2009
Krome Builders to launch 1BHK and 2BHK flats at the property rate of Rs 1,500-2,000 per sq ft. in Vishrantwadi

29) Wednesday, November 4, 2009
P N Gadgil & Co, Jewelers since 1832, announce Anantshilp, Bavdhan Pune, their 1st residential project of 1 BHK, 2 BHK & 3 BHK Flats!

30) Tuesday, June 16, 2009
Kumar Properties - ready possession 2 bhk and 3 bhk flats in Kharadi, Wadgaon Sheri and Hadapsar

Forest Trails, Bhugaon - Sample Bungalow

31) Saturday, May 30, 2009
Om Developers launches budget flats - 1 bhk for 13.53 & 2 bhk for 19.38 lakhs in Golden Palms, 2nd phase of The Island at Wakad Pune, near Hinjewadi

32) Saturday, May 16, 2009
Kalpataru Estate at Pimple Gurav, Pune, increases the property rates of 2 bhk and 2.5 bhk flats by 100 rupees and 3 bhk flats by 50 rupees!

33) Tuesday, August 11, 2009
Park Xpress Baner, Balewadi Pune, offers Home Possession Insurance...!

34) Thursday, November 26, 2009
Celestial City Ravet, 25 acres township of 1 BHK, 2 BHK & 3 BHK Flats, opens booking of 1st phase

35) Friday, May 22, 2009
Kumar Builders' 45 Nirvana Hills at Paud phata on Karve road in Kothrud Pune

36) Friday, May 22, 2009
Kumar Builders open booking of the first 30 stories skyscraper in Pune, 45 Nirvana Hills, first phase of 79 acre township at Paud phata on Karve road

37) Tuesday, May 12, 2009
D.S.Kulkarni Developers opens booking of 3 bhk flats and duplex apartment in DSK Hariyali at Modi Baug on Pune University road

38) Tuesday, November 18, 2008
How many cancellations happened at Blue Ridge?

39) Friday, June 26, 2009
Last call for booking your 2 bhk flat in Darode-Jog's Crossover County on Sinhgad road

40) Saturday, October 10, 2009
Pride Platinum, near Pancard Club at Baner Pune, launched

Forest Trails, Bhugaon - Sample Bungalow

41) Monday, March 2, 2009
Shame, Shame, Shame ...

42) Tuesday, March 3, 2009
Rent Today Own Tomorrow

43) Thursday, September 17, 2009
2 bhk flat for Rs. 24.50 lakhs in Vanshaj InSignia at Baner-Sus -
Are you the lucky Hinjewadi IT professional?

44) Saturday, April 25, 2009
Akruti Countrywoods, on Katraj Kondhwa link road, offers property rate of Rs. 2,250 per sq.ft. for the first 50 bookings of 1 and 2 bhk terrace flats

1 bhk terrace flat - Rs. 12.60 lakhs
2 bhk terrace flat - Rs. 16.65 lakhs

45) Saturday, May 9, 2009
Eiffel City, Chakan, opens booking of 489 sq.ft. fully furnished 2 bhk terrace flat for 12 lakhs!

You must be joking!!

46) Sunday, December 14, 2008
Lavasa - bookings for the 2nd phase to open in the coming festive season

(Property rates would not be less than the 1st phase!)

47) Saturday, September 26, 2009
Now, property rate in Wakad Pune - Rs. 2,300 per sq.ft. for 2 bhk and 3 bhk flats of 1,055 to 1,528 sq.ft. saleable area

48) Friday, October 2, 2009
Upcoming project of 2 BHK and 3 BHK flats near Pancard Club, Baner, Pune

49) Monday, July 6, 2009
What should i write about Pune real estate market? Please, tell me!

Requesting all of you who came from 2,229 cities and visited Ravi Karandeekar's Pune Real Estate Market News Blog 78,488 times and read 1,58,724 pages in the first half of 2009
Is it the right time to buy property in Pune?
Is it the right property price?

Forest Trails, Bhugaon - Sample Bungalow

50) Kumar Properties - current property rates and budgets of 2 bhk and 3 bhk flats and bungalows in Pune real estate market

Kumar Properties' Celebration offer is over!

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Thursday, December 3, 2009

November 2009 - Top 10 popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

2) September 2009:

3) August 2009:

4) July 2009:

5) June 2009:

6) May 2009:

7) April 2009:

8) March 2009:

9) February 2009:

10) January 2009:

11) Most popular posts in 2008

12) What should i write about Pune real estate market? Please, tell me!

13) Who is Ravi Karandeekar?

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Thursday, November 26, 2009

Celestial City Ravet, 25 acres township of 1 BHK, 2 BHK & 3 BHK Flats, opens booking of 1st phase

26/11.
Last year on this day, a few terrorists brought India's financial nerve center to it's knees, injuring the nation's psyche permanently.
On the same day, 26/11, this year,
Rama Group and Pharande Spaces launch their new residential real estate project at the property rate of Rs. 2,400 per sq.ft. at Ravet in Pune real estate market.
Is there any coincidence?

Everything is inside. Even terrace!

Before you shout "Rs. 2,400 per sq.ft. property rate in Ravet?", Rama Group and Pharande Spaces tell you, "Because in Celestial City ( www.celestialcity.in ) in Ravet everything is inside! Not only Lounge, Mall, Sports and Multiplex but the terrace of your flat is also considered 100% inside the carpet area of your flat!"

Are you a builder or a terrorist?

Because, you are not aware about the recent tricks of the builders in Pune, you shout, "100% Terrace? Are you a builder or a terrorist? Why don't you shoot straight?"

"Builders. Kind builders of Pune! Look, we have loaded only 30% on the (carpet area + terrace)!," the builder says.

"30% loading for a building of Parking + 8 Floors in Ravet? Wasn't it only 25%? Wasn't terrace charged at 50%? Are you a builder or a terrorist turned finance minister?,"now, you start screaming about the builder politician nexus!

Dance Bar Properties in Pune:

If you are an outgoing type of a person who knows how things are charged in the trendy joints, you will not waste your time in counting rupees and sq.feet You know well that you have to pay 3 times more for a drink or a snack because the joint offers entertainment. You will only focus on major attractions. You will try to find out "inside" means exactly where?

"Lounge inside! Where is it in the 1st phase?"

"Mall inside! Where is it in the 1st phase?"

"Sports inside! Where is it in the 1st phase?"

"Multiplex inside! Where is it in the 1st phase?"

"But, show me, Where is all this in the 1st phase?"

Click to enlarge!

"Only Terrace is "Inside"! Yes, i can see it completely considered inside the carpet area! What about the rest?"

Click to enlarge!

"Look at the complete picture! Celestial City is an "integrated township" in 4 parts!"

Click to enlarge!

"What about my second honeymoon? Are you planning to complete the construction of all proposed 4 parts of Celestial City by that time?"

You are very much convinced that Celestial City is like your family! Though your parents, brothers and sisters stay in different parts of the world, you are all one family.

You also start admiring the builder for not over exaggerating! Though, the railway line is very close, Celestial City is not claiming that Akurdi railway station is "inside".

Though, Pune Mumbai Expressway is so near, Celestial City is not claiming that Khandala Hill Station is "inside".

Though, Chakan air port would be nearer to Celestial City than any project in Wakad, the builder is not claiming that New International Air Port is "inside"!

You have only one doubt. That radio commercial was talking about celebrating "second honeymoon"! So, you ask the builder, "What about my second honeymoon? Would you be able to complete the project by that time?"

"Sure, we will! Generally, people go after retirement. When are you planning your second honeymoon? ," the builder asks you.

"Certainly, i will let you know. At this point of time, i have to make arrangements for my first honeymoon!," you tell him while trying to calculate travel time from Ravet to Hinjewadi. "Except Hinjewadi, why go out?," you ask yourself!

Click to enlarge!

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Increase in prices sours revival in demand for real estate

Any resurgence would be hit harder by prices rising excessively, than by loan costs

The much-heralded revival in home-building could come to nothing as property developers may have raised prices too much too soon, data from realty research company Liases Foras shows.

The country’s largest mortgage lender has a word of caution for real estate companies looking to cash in on the increase in demand.

Liases Foras founder and managing director Pankaj Kapoor says builders have raised prices to push up their valuations in the run-up to raising money.

“Developers have to be careful about prices, otherwise they will erode the long-term benefits for short-term gains,” said Renu Sud Karnad, joint managing director of Housing Development Finance Corp. Ltd (HDFC).

Any resurgence would be hit harder by prices rising excessively, than by loan costs.

“The effects of higher prices are more on demand than higher interest rates,” Karnad said at the launch of the Liases Foras Real Estate Sensitive Index.

To read more, please, visit livemint.com

Liases Foras launches RESSEX

Realty research firm Liases Foras launched its Real Estate Sensitivity Index – RESSEX,( www.ressex.com ) that will provide structured data and property analysis on the country's real estate market. To read more, please, visit Ravi Karandeekar's Pune Real Estate Investment Blog

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Tuesday, November 24, 2009

53,000 residential units will be added in Pune real estate market by 2011 - Knight Frank survey

As per the latest Knight Frank Residential Report released on November 23, Pune would see an infusion of approximately 53,176 units, an addition of around 54.27 million sq feet, in the new residential space.

"In Pune, 2010 will witness the maximum infusion accounting for around 44% of the total supply. This can be attributed to the fact most of the under construction projects which were delayed have again started," said Gulam Zia, national director (Research & Advisory Services) Knight Frank India.

The study has divided Pune residential market in five zones:
1) The north and north- western zone,
2) the west and south-western zone,
3) the south and south-eastern zone,
4) the east and north-eastern zone and
5) the central zone.

The highest growth would be in the north and north western zone comprising areas such as Aundh, Baner, Wakad and areas along the expressway, which would see an addition of 22.5 million sq ft by 2011 amounting to over 20, 307 units.

The west and south western zone comprising Kothrud, Karvenagar, Sinhagad Road and Dhayari is expected to see over 8,400 units being added by next three years adding up to 8.5 million sq ft.

In the south and south eastern part with places like Wanavdi, Kondhwa, NIBM Road and Katraj, there would be around 9,057 units adding 5.85 million sq ft.

In Hadapsar and Manjri areas in the east and north-east, an addition of 90 mil sq ft will be made.

The central areas such as Deccan, Model Colony, Senapati Bapat Road , Shivajinagar, Boat Club Road, Bund Garden, Swargate and city areas would see approximately 0.5 milllion sq ft and 321 residential units.

To read more, please, visit DNA E-Paper

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Wednesday, September 30, 2009

DS Kulkarni Developers expect profit after tax (PAT) of Rs 50-52 crore this year

Sumit Arora, VP Strategic planning and business development of DS Kulkarni Developers said the current year seemed to be pretty good!

Here is a verbatim transcript of an exclusive interview with Sumit Arora on CNBC-TV18.

Question:

We have seen a full tilt really in the markets over two years,
there seems to be confident returning into paper money
but on the ground we have had our consumer confidence index reiterate that it is at its all time low,
what are you seeing in terms of buyers,
are you seeing a more discerning buyer looking at much lower price points or
has confidence returned in a big way into residential real estate buying?

Sumit Arora:

Things are definitely getting brighter by the day.

I see a lot of customers who were holding on earlier,
they are not coming back and for fresh purchase of homes.

The residential apartments have picked up,
commercial is still not doing great as it was doing earlier.

But the residential market has picked up well.
Especially, in the city where I come from that is Pune,
where we see a lot of demand happening for past few months now and
we have been booking almost say close to 50-60 units per month,
earlier the average was 10-15,
so that's a kind of pickup we have seen.

Going forward, it is going to be a volume business and
we have to work like a manufacturing sector now.
We have to keep on producing more units at a reasonable price and
for that matter we have some 22 million square feet of land bank with us,
which we plan to develop in the next 8-10 years.
This will all be in affordable segment,
say a one bedroom unit would be about Rs 9-10 lakh which is sold any given day.
We are happy to be called a regional player but we are strong in our market.

To read more, please, visit CNBC-TV18

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Wednesday, June 17, 2009

Is this a good time to buy for the first-time home buyers?

"Yes!," says Renu Sud Karnad, joint managing director, HDFC:

Question:

I want to move from my rented flat to my own house. My friend was suggesting I should wait for another few months, as I would get a better deal and the interest rates would be lower too. Please advise if this is a good time to buy.

Renu's answer:

As you rightly said, developers are launching a number of affordable, low-cost housing projects and innovative schemes to bring back confidence and encourage buying.

The cost of buying a house has come down due to a combination of factors, such as drop in property prices, lower specifications and reduction in the average size of units.

Thus, for any new property being built or any new construction, the cost of acquiring the property is down by 30-40%.

Home loan rates have also come down substantially from their peak and are at 2006 levels.

While there is a possibility of a further drop in interest rates by 50-100 basis points (one basis point is one-hundredth of a percentage point) because of huge liquidity and low inflation, there is very little possibility of the rates shooting up in the near future.

We feel developers have already lowered prices and may not be able to bring them down too much from these levels.

Hence, for a first-time home buyer like you, this is a very good time to buy a house. Ask Mint | livemint.com

Buy now but keep on fighting for lower property rates!

You know very well that i am not a builder, a home buyer, or a real estate investor. I am a real estate salesman.

I earn my salary only if you buy a home. Obviously, i will always say, "Buy Now!". However, i will add to it one clause, "Buy now, if you must buy!" I will never forget to add "if you must..." because i am going to get my "commission" only if you complete the deal and take the possession. Commission, and not a salary, is the main income of a real estate salesman.

So, more than a booking, what i am interested is in your regular disbursements till the possession. It means, if you cancel your flat, i am not going to earn anything. Over the years, i have realized that, most of the property buyers who cancel their booking, cancel it not because of the financial reasons but because buying a home was not "must" for them.

When you cancel your booking, I have to spend double energy to sale the same flat again to another customer to recover my losses. This is the main reason, real estate salesman and builder don't consider it as a priority to refund your booking amount. They think you are an irresponcible person who is careless about your personal finances and about your life.

By saying, "Buy now, if you must", i make sure that you are serious about buying home and you are taking well calculated financial decision. Down the line, i see that, both of us are benefited out of your decision.

Though, i don't blog to sale the property and earn any financial rewards from any builder for writing about their project on Ravi Karandeekar' Pune Real Estate Market News Blog, i keep on saying, "Buy now, if you must!" because it has become my nature, not a professional profitable attitude anymore.

When some of my readers insist on property price reduction, i completely agree and support the demand. Not because i hate the builders or subscribe to the idea that they are exploiting property buyers but because i believe that if real estate becomes affordable many more people in urban India can own a home.

Yes, as a real estate salesman it means to me more income opportunity. But i am not only real estate salesman, whether i like it or not, i am citizen of this country, India. India where "Right to Property" is not a fundamental right of the Indian citizen, anymore! It was a fundamental right till 1978, when it was repealed through constitutional amendment act.

Most of the people who talk against builders and property rates are actually angry about not being able to buy a home. They are not actually against the small builder who builds a small township of 100 flats. These people are angry with the big real estate company, the government!

These urban citizens, who fight for affordable homes, may not join extremists to fight "the big real estate company" and target real estate in Mumbai. But the demand to reduce the property rates and make home affordable, i am sure, will create an awareness about "Right to Property", which will restore the dignity of the citizens of India. "Right to Property" can become a fundamental right of Indian citizen, once again!

Someday, who knows, we may see that the human population on this earth may liberate themselves form their respective real estate companies which do nothing but use them to guard their real estates, which are called Mother Lands or Nations. An idea coined and popularized by those who earn power and wealth from it.

Now you know, i am not only a real estate salesman and a citizen but a dreamer too! What about you? Are you ready to fight for affordable homes? Do you believe in "Right to Property" should become your fundamental right once again? Please, share your views in the comments.

Visiting for the first time?

If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) May 2009: most popular posts

2) April 2009: most popular posts

3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

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Friday, June 5, 2009

Are you in a mood to purchase home?

Chanda Kochhar, CEO, ICICI Bank, sees a change in your sentiments.

Ms. Kochhar feels that you are in a mood to purchase home.
She claims that more home buyers are closing deals.
Chanda admits that "we" are not yet back to last year's levels.
But CEO of ICICI Bank sees an "improvement".

Why Chanda Kochhar thinks so? Because of the new rate cuts, ICICI's home loan interest rates, up to Rs. 30 lakh would be 9.25% (same as HDFC) and above Rs. 30 lakhs between 10 % to 11 % (depending upon you profile).

Add to it public sector banks' plan to cut the home loan interest rates by mid June!

Are these "rate cuts" changing your mood? Tell me!

Do you fear that these interest rate cuts would change the "mood" of builders to cut the property rates?

Are you going to hear threatening statements like "Book Today. We are increasing rates from Tomorrow." when you will visit the "Best of East Pune" property exhibition starting from today?

Will you be forced to buy an affordable home?

Worried about NPA, i am sure, public sector and private banks will support the real estate developers demand for extension of tax holiday for five years under Section 80-IB(10) for housing projects approved after March 31, 2007.

To give "a fillip to other industries" such as cement, iron and steel besides generating employment opportunities, Rahulbaba and his mom will order PM to give fiscal incentives to the real-estate sector for constructing affordable homes, for Rahulbaba's fans, in urban areas.

Result is, you would be forced to buy, the so called, an affordable home. An Affordable home, as Sansei says in his comment:

Affordable house means small house:-

Where one cannot keep a fridge in kitchen.

Where one cannot keep a washing machine in bathroom.

Where one cannot keep a Big TV + Home theater in living room.

Which is Indian peoples aspiration and very affordable.

I am sure, you will agree with Sansei and join him to ask:

"Why can't builders reduce their margins a bit and share some booty i.e profits with Aam admi?"

"Why should we? We share our booty with Rahulbaba. We share it with Chanda. We share it with Deepak. Why the hell should we share it with Aam Admi?," all builders will wonder!

What say you? Can you see this trend in Pune real estate market? Where would property rates go in 2009? Do you see more publicity stunts like launching of Nano Homes? Share your views in the comments!

Home loans will get cheaper as ICICI, HDFC reduce rates

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Sunday, May 10, 2009

HDFC property exhibition - over 1,000 Pune real estate investors visited on Saturday and the same response is expected today, the last day

Happy days are here again!

On Saturday, May 9, 2009, HDFC exhibition was scheduled to open at 10 am at HDFC House, Shivaji Nagar. But Pune property buyers started coming at 9.30 am. By 8.30 pm, more than 1,000 property buyers had visited the exhibition displaying ready possession and early possession properties in Pune real estate market.

At 9 pm on Saturday, when i called Sunil Bhosale, my dear friend and star salesman of Park Street at Wakad, he was very happy and equally tired. Today, he has attended 50 "genuine visitors", means visitor who are serious about buying property. Sunil said, all 22 builders participated in the exhibition must have got the same kind of response.

Current trend in Pune real estate market:

Good news is, this is happening on the third consecutive weekend. It started with PBAP (Credai Pune) property exhibition at Hotel Orchid, Balewadi. On the next weekend, there was Sakal Property exhibition. And HDFC exhibition, this weekend.

Add to it, DSK Vasantotsav, a daring effort for reduce real estate prices (!), which opened on 3rd May. On the first day, as per the "computer register" at the reception of the exhibition, 1,600 families / couples visited DSK Vasantotsav. However, today is the last day of DSK's ready possession properties exhibition. As per DSK's ad in Sakal, if you visit DSK's office on Monday you wont get the discounts offered at the exhibition (!)

Recession and Sentiments:

When i asked Sunil about the expected bookings in this month, he said that May would be better than April. Besides number of bookings, Sunil Bhosale said, the change in the "sentiments of the property buyers" is noticeable.

Customers are arguing less about property rates. If the project is at their preferred location, visitors ask for the detailed information. While talking about property rates, they ask, "Is there any scope of negotiations?" Standard answer to this question is "come to the site and we will see!". (I suggested he should use "please" more often because as per the exclusive news on the TV, even "bhai" of Mumbai underworld has started using "please" when he calls the builder for protection money!)

Property rate negotiations:

From the exhibition, "genuine visitors" prefer to go to the site, on their own. However, majority of the property buyers are not "new property buyers" but "returning property buyers" who had left Pune real estate market. In this exhibition, Sunil saw some fresh blood! Because, HDFC had put it's old data base to good use and had invited their loyal home loan applicants.

"Is this response going to influence property price negotiations?," I asked Sunil. "Yes and No," Sunil said. "In June and July because of the monsoon every year we see less site visits and bookings. So, i will prefer to close the deals in this month itself," adding this, Sunil Bhosale confessed that, "Plus, i have to keep in mind that property buyers don't have a stamina for more than 3 -4 rounds of negotiations!"

Stimulus package: compact homes!

"Are people asking for smaller flats? Compact homes?," i asked. "Yes! They ask for 2 bhks in 800 -850 sq.ft. which will fit in their budget comfortably!!," Sunil gave the expected answer. I realized that this is the end of the conversation. Now, Sunil has started reading the script given by his boss.

For Pune builders, at this point, more than the bookings in "on going projects", what is more important is "interest free finance" from the home buyers. For that they are counting on "redesigned small - compact flats!". This is a stimulus package which will bail them out. To achieve this, i think, Pune builders are using their combined strength for self hypnosis and if possible they try to hypnotize Pune property buyers too. What say you?

If you consider the carpet area, the present flats are already small and compact. Only unreasonable and illogical saleable areas make these flats look big. Isn't it? What say you? (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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Visiting for the first time?

If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) April 2009: most popular posts

2) March 2009: most popular posts

3) February 2009: most popular posts

4) January 2009: most popular posts

5) 20008: most popular posts

Saturday, May 9, 2009

Eiffel City, Chakan, opens booking of 489 sq.ft. fully furnished 2 bhk terrace flat for 12 lakhs!

You must be joking!!

Eiffel Developers and Realtors Ltd., an Eiffel Group company, launches 2nd phase of Eiffel City at Chakan!
You must be joking!!

2 bhk flat of carpet area 489 sq.ft. - the perfect solution for common man who dreams to own 'a complete home'!
You must be joking!!

2 bhk flat of 489 sq.ft. - the perfect solution for common man who dreams to own 'a complete home' - in the 2nd phase of Eiffel City at Chakan, comes with a double bed, a large double door wardrobe with dresser in each bedroom, a TV unit, dinning table set in the living room (!) and array of cabinets in the kitchen!
You must be joking!!

2 bhk flat of carpet area 489 sq.ft. - the perfect solution for common man who dreams to own 'a complete home' - in the 2nd phase of Eiffel City at Chakan, with a double bed, a large double door wardrobe with dresser in each bedroom, a TV unit, dinning table set in the living room (!) and array of cabinets in the kitchen for only Rs. 12 lakhs!
You must be joking!!

Offer valid up to May 14, 2009!
You must be joking!!

I am not joking!

I am not making a fun of 2 bhk flat of 489 sq.ft. for 12 lakhs at Chakan. "You must be joking!!" is builder's theme. Do you remember the theme "An Unbelievable Truth" of Greenland-County? Darode Jog had offered 2 bhk flat for 12 lakhs at Narhe Ambegaon off Sinhagad road in Pune!

Yesterday, at the press conference, Mr. Santosh Bhansali of Eiffel Group which promises to strive to make "The Mark of a better life", said that this initiative is a result of market research of the property buyers in the Chakan. These fully furnished budget apartments - 2bhk flat of 489 sq.ft. for 12 lakhs - are for those property buyers who work in the world's most reputed corporations including Mercedes Benz, Volkswagen, Hyundai, JCB etc.

View Affordable Housing Projects in Pune Real Estate Market in a larger map

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If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) April 2009: most popular posts

2) March 2009: most popular posts

3) February 2009: most popular posts

4) January 2009: most popular posts

5) 20008: most popular posts

Friday, April 10, 2009

Real estate developers warn to potential home-buyers, "If you wait too long, there could be dire consequences"

End the waiting:

At a time when real estate prices seem to be in free-fall, many potential home-buyers are sitting on the fence in the hope that prices will drop still further.

Real estate developers are now warning that if they wait too long, there could be dire consequences for a number of support industries, millions of unskilled labourers and the wider economy itself.

Prakash Challa, president of the state branch of the Confederation of Real Estate Developers’ Association of India (CREDAI), warned that the confused consumer could push the market too far.

“When they hear that prices have fallen over 30 per cent, that interest rates are likely to fall further, they think they are better off waiting,” says Prakash Challa.

However, developers are already operating with minimal margins and would be forced to delay or pull out of projects if the market falls further, he said.

Mr. Challa also blamed the Union Finance Ministry and the Reserve Bank of India for adding to the real estate sector’s problems.
To read more, please, visit - The Hindu - Priscilla Jebaraj

My dear friends, why are you doing this?

Booking a flat means fighting recession.

Booking a flat means contributing to the GDP growth of India.

Booking a flat means beating China.

Booking a flat means taking a step to make India super power.

Booking a flat means loving your mother India.

Indian real estate developers who give you an opportunity to serve your mother land are angry with you.

My dear friends, why are you doing this?

Why are you waiting?

Please, share your thoughts in the comments. (Comments Policy),

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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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Thursday, April 9, 2009

Pune real estate market report:

Real estate sales stagnate:

According to the report, released by realty research and advisory firm Xxxxx Xxxx XxXxxxx Xxxxxxx on Monday, the field is now open for genuine buyers to exploit the rationalized rates.

Under construction properties are only selling if they are under the banner of a reputed and credible developer, for the rest, only ready-to-move-in options count, the report elaborated. Read More

Real estate sector looking up!

Citing the recent experience of a host of developers in the city, X X X X has said that the real estate sector in Pune is beginning to look up.

Mr. Xxxxx Xxxx says that the first signs of the turnaround that are visible now can be attributed to factors like low interest rates on loans, reduction in real estate prices and most importantly a change in the sentiments of the people, which was also a major reason for the downturn in the first place. Read More

Wait Wait...Don't Tell Me!

However, if you insist, please, write in the comments: (Comments Policy),
1) name of the realty research firm who reports "stagnation" and
2) Who says "Looking Up"!

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Tuesday, April 7, 2009

Most popular posts in March 2009 on Ravi Karandeekar's Pune Real Estate Market News Blog

According to Google Analytics:

1) Shame, Shame, Shame ...
What is going on in Pune real estate market?

2) Rent Today Own Tomorrow

3) Paranjape Schemes opens booking of first 200 bungalows in Forest Trails - 140 acre township at Bhugaon, 10 -15 minutes away from Kothrud and Hinjewadi

4) Parking space: Pune property buyers have finally started asking for what should have rightly come free!

5) Goel Ganga Group launches "Good Value Homes" in the range of Rs.18 lakhs to Rs.30 lakhs at Sinhagad Road, Aundh Annexe, Chinchwad and Undri

6) What should be the rational property rate of Blue Ridge Hinjewadi?

7) Rohan Builders cuts property rates of Leher and Mithila by Rs. 600 per sq. ft. and 'agrees' to reduce your booking rate in case of future reduction!

8) Many more Pune builders may follow Mont Vert's solution - Rent Today Own Tomorrow

9) Now, rental dip threatens real estate investors

Most talked about Pune real estate market news:

Here, on Ravi Karandeekar's Pune Real Estate Market News Blog, i only open the topic.

I start the conversation and then you all join, express your views, present your point of view and make this blog useful for the property buyers, living in Pune, USA or in any part of the world.

For me "comments on the blog" reflects the importance of the topic. Here are 5 posts with maximum number of comments:

1) 48 comments

2) 23 comments

3) 18 comments

4) 12 comments

5) 12 comments

Now, Ravi Karandeekar's Pune Real Estate Market News Blog has more than 1,000 posts. Recently, i have realized that number of 1st time visitors to this blog is increasing every day. This post and the previous post about most popular posts in March 30th - April 6 week, is basically for them. These lists will give them some idea about the topics covered and different views expressed on this blog.

If you are a regular reader, i am sure, re-visiting these posts can help you take a learned decision about investing in Pune real estate market. For example, in March we talked about two initiatives which deal with two important issues - 1) Delayed possession 2) Reducing property rates. I hope, this discussion will help you to minimize the risk while booking a flat in Pune real estate market. What say you? Please, share your views in the comments. (Comments Policy),

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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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Most popular posts in the week, March 30 - April 6, 2009 on Ravi Karandeekar's Pune Real Estate Market News Blog

According to Google Analytics:

1) Insignia - housing group formed by IT professionals working in Hinjewadi, Pune, finalizes their first scheme of 2 and 3 bhk flats and Town Houses

2) Anand Jog, Director - Darode Jog Properties, on budget homes and property rates of Greenland-County at Narhe Ambegaon, off Sinhagad road, Pune

3) Ashish Yadav invites you to join his group to book a flat at Rs. 2,525 per sq.ft. in Baner Balewadi!

4) An exclusive offer from Belvalkar Housing for flats, row houses, twin bungalows and independent bungalows in Belvalkar's Solacia at Wagholi

5) Darode Jog opens bookings of Greenland County at Narhe Ambegaon, off Sinhagad Road at Rs.3,000 per sq.ft. in Pune Property Mahayatra Exhibition

6) Get in touch with Vinay Deshpande if you wish to build your own bungalow in Pune

7) Is it an invitation for a collaboration or a proclamation of war or the last warning to Pune real estate developers?

8) Pune's growth key to cheap housing'

9) How many cancellations happened at Blue Ridge?

Feeling proud for helping "property buyer's initiatives"!

Out of 9 popular posts, 4 are on property buyers initiates! Insignia, Ashish Yadav and Vinay Deshpande's initiatives of forming a property buyers group to own a home at a reasonable rates.

If "launching of Paranjape Schemes' Blue Ridge" was the highest point of real estate boom in Pune, we can say that the "launching of Nanded City Pune" was "the end."

Then, can we say that launching of Darode Jog's Greenland-County, a beginning of a new era?

Completely different from what Dileep Athavale, business editor of Times of India, Pune and my old friend, had predicted. A new trend of quality affordable housing with amenities, for non IT property buyers who have a small budget?

I am worried about those young, first time, IT property buyers, who happened to enter in Pune real estate market at a point when their colleagues had contributed a lot in inflating property prices.

Feeling angry against the builders in Pune, these property buyers were anxiously waiting for the property prices to come down and they can afford to buy a home in their budget at their preferred location.

What will happen to them?

Because of the holding capacity of their colleagues, senior IT professionals turned real estate investors, rates of resale flats are not coming down. At the same time, all most all builders are going to launch "affordable housing" to avoid reducing property rates of the ongoing projects.

Are they going to miss an opportunity to own a home?

Or will they come to terms? Will they accept that real estate is a local business? Pune real estate market may take a different turn than Delhi - NCR or Bangalore real estate!

"Supply and demand" not only influences the property rates, it compels the sellers, for example Darode Jog Properties, to create a "new market" too!

I think, these posts reflects these important trends and turning points in Pune real estate markets. What say you? Please, share your views in the comments. (Comments Policy),

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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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Saturday, March 7, 2009

Buyer-seller splitsville: realtors left with empty homes

If there is one thing that stands out about the Pune real estate sector today it is the huge disconnect between the buyer and the seller.

It’s almost as if the seller and the buyer are speaking two different languages.

And the estate agent who should be playing the role of a translator suddenly forgets all about his business.

The builders, sitting on a four-fold rise in rates, feel they can wait indefinitely to ride out the present slump.

The wannabe buyers say 25 to30% correction has taken place in other cities.

Both refuse to blink.

The result: A classic standoff, with almost no business being transacted.

The Indian Express begins a series.
To read more, please, visit - Ranjani Raghavan - Indian Express

Because this is not a time to own a flat!

Yes, there is a 'huge disconnect' between the property buyer and the builder. But one builder is connected. He understands what property buyers feel. Today is not a day to own a flat. Not even to rent. It's wise to save a rent. Right time to own a home? Tomorrow! If property rates come down. Right?

Can you tell me the name of the builder and the scheme he is offering? Yes, in the comments. (Comments Policy),

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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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Friday, March 6, 2009

Many more Pune builders may follow Mont Vert's solution - Rent Today Own Tomorrow

A Pune-based developer may have a solution — at least temporary—for the hundreds of realty firms faced with dwindling de-mand for homes: Rent out apartments and hard-sell apurchase option to the tenants.

Mont Vert Homes has kicked off a ‘Rent Today Own Tomorrow’ campaign, inviting potential buyers to rent apartments of their choice on 11-month contracts, with the option of buying the flat anytime in the interim.

Developers sold between 50,000 and 65,000 new apartments in Pune annually in recent years when the economy was booming.

Sales will lag significantly behind those numbers in 2009, according to Jayant Kaneria, another director of Mont Vert.

Sales had skidded to “near-zero levels” between August and December.

“It has now revived slightly with single digit sales after the price corrections but the situation is unlikely to improve before July,” he said. ...read more-livemint...

It's good news for Pune property buyer when the builder accepts the truth and finds solution!

It has happened before. We property buyers have seen the benefits of it. I am referring to Mont Vert Seville at Wakad. Which set the trend of "compact flat fitting in your budget". 2 bhk flat in 29 lakh!

When Mont Vert accepted the fact and decided to break the property price barrier and bring down the budget of the flat in the affordable limits, other builders followed the trend and launched "compact flats which will fit into your budget".

For example:
1) Palash 2i at Wakad
2) Pride Purple Group's Topaz Park in Park Street at Wakad
3) Recently launched Amit's Astonia at Balewadi
4) Gera's Park View 1 at Kharadi
5) Runwal Group's Euphoria at Kondhawa
6) Shagun Developers, Manav Promoters and Ashcon Builders' Sunshine Hills near Bishop's School at Kondhwa annex, means Undri
7) Even Kunal Sancheti Associates are launching one wing of compact flats in Venezia at Baner!

What a way to wait till the property rates come down!

More than the success of Mont Vert's "Rent Today Own Tomorrow", for me, what is important is the possibility of many builders following this solution to mounting inventory and offering my readers, Pune property buyers, "rent free falts to live till the property rates come down!"

Isn't it good idea to finalize your flat, live in it, save rent for the down payment but buy your flat only when property rates come down? I find this is cool. Please, share your views in the comments. (Comments Policy),

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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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Monday, March 2, 2009

Shame, Shame, Shame ...

What is going on in Pune real estate market?

Instead of towing the policy of the PBAP, how can any builder offer his own housing solution to the property buyers in Pune?

Particularly when the PBAP had been so kind to the home buyers who were avoiding to book flats because of job insecurity due to recession in the US economy.

In fact, it was not at all necessary for the PBAP to offer to pay 3 EMIs to the financial institution in case of borrower lost the job and couldn't pay. Builder is not at all concerned with EMI. It was bank and borrowers business.

Only on the humanitarian grounds PBAP decided to show sympathy to the property buyers.

But one member of PBAP, wants to be friends with the property buyers! He wants them to chill. Don't bother about property rate cuts. Home loan interest rates. Stalled construction work. Cancellation charges and refund of booking amount. Delayed possession. Paying EMI.

This builder, just tells you to go ahead and rent his brand new property. In his projects in Pashan, Baner and Wakad. All preferred neighborhoods by IT professionals working in Hinjewadi.

No, this builder is not changing his line of business. He is not going into renting. Doesn't want to become landlord and live off the rent. He wants to remain builder and develop housing schemes. He is offering some sort of scheme just to show his concern and commitment to his patrons in the hard times. He calls it "Rent Today Own Tomorrow"

This offer, this gesture, this builder is fundamentally wrong. Completely against the principal of PBAP. Why? I can explain it only in Hindi. "Agar ghoda ghas se dosti karega to bhuka mare ga." is the universal truth.

Shame, shame, shame...

Am i missing something?

Where is the catch? Am i missing something? How can one be so different in the bunch of greedy blood sucking xxxxxxx? Please, throw some light 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

Saturday, January 2, 2010

3,77,132 Thank Yous!

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Thursday, December 3, 2009

Top Content - According to Google Analytics:

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12) What should i write about Pune real estate market? Please, tell me!

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Thursday, November 26, 2009

Everything is inside. Even terrace!

Are you a builder or a terrorist?

Dance Bar Properties in Pune:

"Lounge inside! Where is it in the 1st phase?"

"Mall inside! Where is it in the 1st phase?"

"Sports inside! Where is it in the 1st phase?"

"Multiplex inside! Where is it in the 1st phase?"

"But, show me, Where is all this in the 1st phase?"

"Only Terrace is "Inside"! Yes, i can see it completely considered inside the carpet area! What about the rest?"

"Look at the complete picture! Celestial City is an "integrated township" in 4 parts!"

"What about my second honeymoon? Are you planning to complete the construction of all proposed 4 parts of Celestial City by that time?"

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Tuesday, November 24, 2009

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Wednesday, September 30, 2009

Sumit Arora, VP Strategic planning and business development of DS Kulkarni Developers said the current year seemed to be pretty good!

Question:

Sumit Arora:

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Wednesday, June 17, 2009

"Yes!," says Renu Sud Karnad, joint managing director, HDFC:

Question:

Renu's answer:

Buy now but keep on fighting for lower property rates!

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Friday, June 5, 2009

Will you be forced to buy an affordable home?

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Sunday, May 10, 2009

Happy days are here again!

Current trend in Pune real estate market:

Recession and Sentiments:

Property rate negotiations:

Stimulus package: compact homes!

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Saturday, May 9, 2009

You must be joking!!

I am not joking!

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Friday, April 10, 2009

End the waiting:

My dear friends, why are you doing this?

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Thursday, April 9, 2009

Real estate sales stagnate:

Real estate sector looking up!

Wait Wait...Don't Tell Me!

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Tuesday, April 7, 2009

According to Google Analytics: