Friday, May 2, 2008

Hot Pune real estate market news links - slow down, special offers, property rates and PBAP price hike

1) Promoters and Builders Association of Pune strikes back: increases the per-square-foot rate of flats between Rs 50 and Rs 400 from April 20

Pune real estate slowdown:
Attack is the best form of defence, Lalitkumar Jain, president, Promoters and Builders Association of Pune (PBAP) knows this very well.

Lalitkumar Jain knows how to answer back the prophets of the Pune real estate slow down. He passes the resolution of the price rise in the PBAP meeting and slaps it on your face.
Read more:


3) Builders will increase the rate according to the stage of the construction, says Shantilal Kataria, while talking on rising property prices in Pune

Price hike between Rs 50 and Rs 400 from April 20:
We all, including HDFC, were talking about Pune real estate slow down. Everybody was sure about property rates in Pune will come down. But on 10th of April, Lalitkumar Jain, president of Promoters and Builders Association of Pune (PBAP), made a shocking announcement.
:Read More

4) Rising Property Prices in Pune real estate market - D. S. Kulkarni Developers are here to help you. Do not loose hope. Call now!

Hope Now:
Dear Mr. President Bush, you are not the only person whose focus is "Home-ownership" of his people. While you are doing your best by forming Hope Now alliance to help American families keep their homes, this person in Pune, is helping the citizens of Pune, Mumbai, Nashik to realize their dream of home-ownership.
:Read More

5) Felicita - Baner: 2, 2.5 and 3 bhk flats, opposite Hotel Mahabaleshwar on Baner road in Pune, reduces the property rate - Rs.3,801 ...only for 2 days

Launched at a "special" rate of Rs.4,251 per sq.ft.!
As per the ad in the Westside Plus and the phone call i received, for 2 days - today and tomorrow - till 20th April 2008 - Felicita - Baner has reduced the rate by 450 rupees per sq.ft.

Now, you can book your flat at Rs.3,801 per sq.ft. At this rate, if you book 2.5 bhk flat of 1,285 sq.ft., you can save nearly 5.8 lakhs!
:Read More

6) Pune real estate slowdown - the records of the stamp and registration office underline slowdown in Pune property market

While the conveyance deeds have remained static in the last three months, registrations by way of leave and license as also lease contracts have shown a steady rise.
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7) Pune real estate slowdown - ‘‘There May Be Short-term Slowdown In Real Estate,’’ Shamsu and Hussain Lalani, Directors, Lalani Group

Having carved a niche in Mumbai’s high-end and middle-income residential segment with over 20 projects since 1985, the Lalani Group of Developers and Builders has now set its sights on the fast developing Thane and Pune markets.
:Read More

8) Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front

" The investor has almost entirely exited the Pune market and the residential sector is now driven by the serious end user." Since the residential property is available for sale at high capital costs and there is a wide gap between monthly EMI and monthly rent, the end user is moving towards the affordable rental option."
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9) Pune real estate slowdown - HDFC says correction will not be as drastic as 1996, simply because Pune real estate market is driven by the end user

Nobody can deny that there is a definite slowdown in the Pune real estate market:
Sonal Modi general manager (Maharashtra), Housing Development Finance Corporation Limited (HDFC), said the market sentiments were low, despite strong fundamentals in the city (Pune) with migration and economic growth continuing to fuel demand.
:Read More

10) Pune real estate slowdown: school exams may be the reason says Sachin Bora, director of Samrat Constructions

Optimistic Pune Real Estate Developers:
The builders, however, still hope that the IT sector will see boom times once again and the present slowdown turns out to be a temporary phenomenon.
:Read More

1 comment:

  1. the property prices in pune are certainly going hitting the bottom. or else why will premier poperty developerslike magarpatta dn vascon come to dubai twice in seven months selling the same properties they said were sold out? these developers, along with nearly 50 developers from pune were all jockeying for position with the very poor turnout of NRIs, some of them were even wooed with some glorious prices and a quick, all paid for holiday back home.

    Guys like LK Jain should start to revisit their perspectives or else he will be sitting on inventory which will end up being useless in a very short time.