Monday, January 5, 2009

Not Rock-Bottom for property buyers in (Pune) city - Ritu Goyal Harish

The real estate market in the country has dipped, but city builders say a Rs100-Rs200 fall is not indicative of a slowdown. It is part of the business policy!

Most of us will agree with Ritu! Property rates in Pune are not down by 15 % or 25 % like in Mumbai or Delhi - NCR. In her well researched article, published in DNA (page 4) on Jan 3, 2009, Ritu presents 'realistic' picture of Pune real estate market. You may not like to accept it, but it looks like that Pune property rates may not go down any further! In this situation, what are you planning to do?:

1) Are you going to give up the idea of 'waiting' for the property rates to come down? Are you going to forget job - economic uncertainty and take advantage of 'low home loan interest rates' and book a flat at the current property rates?

2) Are you just going to ignore the appeal of taking part in 'stimulating the Indian economy and achieving 7 % growth' because you do not want to carry the burden of loan liability for next 10 or 15 years?

3) Are you going to behave not as a property buyer but as a project financier who is ready to lend interest free funds to the builder and use 'low interest rate' as a trump card to negotiate property rates?

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

Related Stories:

1) Urban development ministry calls for additional government measures, including cuts in home loan rates, to revive crumbling real estate sector

2) RBI cuts key rates to stimulate economy

3) Economists see robust growth in FY09

4) Return of animal spirits

5) Overseas funding to boost real estate

6) Indian Real Estate Developers to meet the RBI Governor to demand more sops for the struggling real estate sector

7) Credit flow to developers - RBI's interest rate cuts and the fiscal stimulus package do little to address the realty sector’s main source of trouble

8) Real estate developers expect more people to buy homes now to reduce cost of funds for developers and ease the liquidity pressure!

9) Would prices start rallying again?

10) Planning a home buy? Do it in first 3 months of 2009

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1 comment:

  1. Ravi, We must not make a hurried decision right now. Its not only the Real Estate that has been affected, but most of us in our day to day activities. I would put on hold the idea of buying a property for now untill I am satisfied that I can manage the finances or the burden of EMIs for the next 10-15 years inspite of threats to my earnings.