Everytime, I visit Pune its like visiting a foreign country in terms of prices. Everything here from Hotels to Real Estate is super expensive. Only Mumbai comes close. Delhi, Chennai & Kolkata are ofcourse much less expensive.
The whole concept of Value for Money has been thrown out of the Window in this City.
As an example, consider Wakad, with rates around Rs. 2,800 per sq.ft., Wakad is a place on the Mumbai - Pune - Bangalore Highway! It is like 15 km away from anywhere at all! Pune's traffic infrastructure is horrible. People are forced to use personal vehicles, especially two wheelers and that means that if you stay at Wakad, you have to drive for at least 45 minutes to get anywhere interesting, and for that pleasure you have to shell out around Rs. 33 lacs for a 2 BHK!!!
Re: Interesting prices in Pune
by dris dris on Oct 06, 2009 02:50 PM
Property prices in Pune are anything but nonsense currently. Looking at availibility, I believe, that prices should see correction of at least 30% to make them realistic. Pune is growing only on one industry i.e. IT whereas Mumbai is costly because it is financial hub of India and less availibilty compared with demand
Indian infrastructure is essentially 3rd world. This is our Achilles Heel.
Indian Real Estate Prices are very close to the 1st world. Infact, the cost of an independent house in Detroit, is probably a little less than in Pune.
No one in their right minds should buy residential real estate in India now. However, if one still needs to buy a house to live in for various reasons, I would recommend buying a 2nd Sale Home, of a relativel new < 5 yrs old construction.
People buying new property may get some interesting surprises post Diwali.
India is once again in the midst of a multiple Asset Class Bubble, with P/E ratios increasing significantly in the Market and Real Estate increasing and Gold Increasing, while the growth in the country's GDP is less than earlier years and prices of essential commodities is at significantly, probably unsustainably high levels.
Re: Real Estate Bubble
by Srini on Oct 06, 2009 02:34 PM
People with third world attitudes get third world infrastructure. That's the sad truth. We get what we aspire for. Regarding real estate less said the better. The politician builder nexus is screwing the middle class
Re: Re: Re: Real Estate Bubble
by vivek anand on Oct 06, 2009 03:10 PM
Negative surprises in the form of falling home prices due to there being no buyers in the market!
Re: Real Estate Bubble
by paul on Oct 06, 2009 03:05 PM
Hey buddy !! Whole world is in recession for past 1.5 years and what happnd to Indian real estate ?
Was there a drastic change in prices ?
If there is not much downside in recession what do you expect after divali ?
Be practical, ofcousre yes everybdy here will be happy if prices will be down by 30-40% but that not realistic .
Re: Real Estate Bubble
by janijohn janardhan on Oct 06, 2009 03:22 PM
our real Achillies Heel is being Argumentative without being participative in governance
Just an example of a consistent veiled media-run propaganda sponsored by Builders..Rediff has joined these shameless people who have been denying nation's middle class the dream of owning AFFORDABLE homes
Re: SPONSORED ARTICLE
by vikash on Oct 06, 2009 03:21 PM
Give vote to congress who had increased the house cost abnormally because most of the politicians have invested their black money with these builders. Hence cost will go up till congress is there.
Re: Re: SPONSORED ARTICLE
by ashish arya on Oct 06, 2009 04:47 PM
Vikas - Politicians in other parties are no different from the politicians in Congress... If you blame the policies of the party I might understand... but please don't try to blame soemthing as senseless as this...
