As per the article penned by Urmilla Rao. I disagree on the facts and figures that have been given about Pune.
As on date there is no area or good builder in Pune who is offering a rate of 1600/sq. ft. Even the places like Vimannagar, Kharadi are now witnessing the rates of Rs. 3000/sq. ft.
Places like Baner, Aundh, Hinjewadi are seeing the prices rocketing sky high. Thanks to the IT industry that is shifting and sharing base with Mumbai.
Pune as on date is the most flourishing Real Estate market, specifically due to the IT industry. It has more no. of IT Professionals as compared to Bangalore & Hyderabad.
To me it looks the Real Estate in Pune is there to stay, since there are more genuine buyers then investors.
RE:Pune is not as projected
by Vinod N on May 18, 2007 12:56 PM
Pune is a complete hyped up market! Most of the newly coming-up projects have upto 70% flats unsold due to steep prices. Though there are lot of IT companies coming in, nobody is ready to shell out such a huge money in their dream home! Like everybody else, the builders think that IT guyz have easy money to pump-in and are increasing rates like anything... Everybody wants to cash-in on the surge in IT industry and make the IT community a bakra. All said and done, its the IT guyz who are to be blamed for blindly falling prey to the builders hype trap. Pune just has around 10% of what Bangalore has in terms of IT companies & the worst infrastructure. The local media says that the party has just begun...and already its a mess out here... GOD save Pune!
RE:Pune is not as projected
by sumit soral on May 18, 2007 03:39 PM
Infrastructure in Bangalore is also not very good....Road are too widen enough to take the traffic load....but see still the rates are very high...I have not seen Pune but still I have seen Delhi, Noida, Ghaziabad (Ignore crime rate :->....Infrastructure is still far better than that of Bangalore....but see the prices are sky high.....don't know why Government is looking into the same.....!!!!
RE:Pune is not as projected
by anil b on May 18, 2007 01:47 PM
HI,
Average pay of an IT pros with 5 to 10 years is around 8 to 15 lakhs and with the present interest rates only the higher end guys might buy flats in the range 40 to 60 lakhs but many IT guys might not buy at all since they are sure about the sustainablity of their salaries even over the medioum term .so prices will have to fall to 25 - 30 lakhs if developers want to really sell.
RE:Pune is not as projected
by Pram Borse on May 18, 2007 01:22 PM
This is very true that people bought/buying has fallen prey to the builder'demand at the expense of IT....! But since bank rates have crossed the limits the no. of people visiting builders, has drastically reduced. Surely, prices will have to come down in pune too!!
RE:Pune is not as projected
by Harsh Singh on May 18, 2007 02:01 PM
I completly agree with Pram.IT guys have actually spoiled the scene in Pune when it comes to real estate .
The article does not talk about Hyderabad where the rates are increasing steadily. The market is still green and rates well below the national metro average. If Mumbai, NCR, Chennai and Bangalore are heated up, then invest in Hyderabad- the next IT destination, to get good returns.
RE:What about Hyderabad?
by Satyajit Mahapatra on May 18, 2007 01:25 PM
Who tells you Hyderabad is cheap? At least some part of the Metro (locations within 15 km of Hitec city) are over heated already and there has been appreciation of more than 200% in many areas in two years. The areas (mostly Secunderabad area) which didn't appreciate that much may not go too high in future also (unless new investmensts come up in those areas). So, it's not so easy investing here also. No doubt Hyderabad WAS a cheap Metro till 2005 beginning.
RE:RE:What about Hyderabad?
by on May 18, 2007 04:46 PM
right, hyderabad is not at all cheap. stay away from buying house in hyderabad in the near future. prices are bound to fall
RE:What about Hyderabad?
by santhosh thomas on May 21, 2007 09:58 AM
In fact Hyderabad is costlier that Bangalore! 3000/sqft and above for an appartment 24 km from the present Airport and 12 km from the new International Airport where in the land over there is total empty. Expected developement in reality in another 10 to 15 years, but claimed by the developers is 2 to 3 years.
RE:Navi Mumbai prices
by VAIDYANATHAN CV on May 20, 2007 11:07 PM
Navi Mumbai node presently is fast developing with a very sound infrastructure particularly with JNPT port and Reliance industry having its base in Koparkhairne node. Also Kharghar has started with a very well planned base. There is also a proposal to have a international airport.I suggest any investment in navi mumbai will yield rich dividend.vaidyanathan
