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Will the residential prices fall ?

By Unregistered Visitors, Section Ask Questions
Posted on Mon Dec 11, 2006 at 06:34:41 AM EST

Planning to move to Pune next year and settle there.

In 2005 I was quoted by a developer Rs 2500 sq feet for an apartment in Koregaon Park , now the same person is asking Rs 4000 / sq feet for the same apartment.

Is this infalted or realistic ? Will the prices fall or go up still ? Does it make sense to buy now or wait for some more months ?

Do the developers negotiate and can we bergain or is it a sellers market and buyers are beggars :-))

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Will the residential prices fall ? | 13 comments (13 topical, 0 hidden)

Re: Will the residential prices fall ? (none / 0) (#13)
by Unregistered Visitors on Tue Aug 14, 2007 at 06:03:51 AM EST

the buble is about to burst as the so called I T is hit hard by dollar rupee exchange the prices of residential is also fall.
the interest rates increase have also added fuel to it.

Re: Will the residential prices fall ? (none / 0) (#12)
by Unregistered Visitors on Tue Aug 14, 2007 at 05:31:36 AM EST

Yes, the prices have to come down in Pune and in other cities too. Only thing, buyers should bear for some more time. For no reasons, builders have increased the prices. Builders thought that the boom in the I.T.Industry / Automobile Industry in and around Pune will help them get more customers at exorbitant rates. To some extent it is true, but gradually the situation is changing in favour of customers. Thousands of flats / row houses are waiting for occupants. Due to upward trend in the interest rates on housing loans and sudden price hike by builders, the demand has drastically slowed down. But as a business tact, no builder would accept this fact. In recent statements made by HDFC and ICICI Bank, their housing loan business has seen 30 to 40 % reduction in disbursements. This means that there is reduction in the property bookings to that extent. A year back, outskirt Pune was offering flats @ Rs. 750 - 800 / sq.ft. Since builders' lobby took undue advantage of the situation, the rates rose to Rs. 1800 / sq.ft. which are not logical and ethical too. You may see the Sunday edition of The Times of India (12 Aug, 2007) wherein Mr.Swaminathan has written about slowdown of housing prices all over the world and he also predicts a similar situation in our country.

Re: Will the residential prices fall ? (none / 0) (#11)
by Unregistered Visitors on Fri Jun 22, 2007 at 05:46:13 AM EST

Yes !! Prices will definately fall.
You should wait till this year end. Its already reached its high on pricing due to heavy demand previously. All credit goes to big pockets/heavy salaries.
As interest rates are also increasing, it is not going to be affordable deal to common people. In last 2/3 months, it has been observer that developers are also coming down to 400/500 Rs. per Sq. ft on the quoted rates. Also due to increased interest rates, those who have purchased properties, with hight EMIs on floating rate, will be the first to get hit of this one and there should be expected resale of these properties.

This is following known demand and supply curve. Right now supply is increasing and demand is getting shrunk due to high interest rates and property values.

So wait till year end. Next year should be a good time to again deal in properties.

Re: Will the residential prices fall ? (none / 0) (#10)
by Unregistered Visitors on Fri May 25, 2007 at 03:17:23 AM EST

Yes! Definately prices will fall. They are softening down already.

This is evident from several sources in addition to statements by Deepak Parekh (HDFC Chairman) and MV Kamath (CEO of icici bank) and RBI cautioning the banks against over-exposure to housing loans.

Since interest rates have climbed up now to touch double digits again, demand has shrunk significantly as people postpone buying. Developers are finding it difficult to hold on to their stock as they feel the pinch of massive loans they have taken. Last year they could hold on without cutting prices since demand was then strong, but this year many developers have started reducing prices by 5-10%.
The prices are expected to fall further later this year. It may then be the right time to buy (or perhaps in the 1st Quarter of next year.)

Good Luck!

Re: Will the residential prices fall ? (none / 0) (#9)
by Unregistered Visitors on Tue Apr 24, 2007 at 08:37:49 PM EST

Builders have already started negotiating and offering prices Rs 400-500 less than what was quoted.

Re: Will the residential prices fall ? (none / 0) (#8)
by Unregistered Visitors on Tue Apr 24, 2007 at 08:35:56 PM EST

After the interest rate hike for loans and and further expected rise of interest rates, Real estate prices are going to take a dip.

Re: Will the residential prices fall ? (none / 0) (#7)
by Unregistered Visitors on Mon Dec 18, 2006 at 07:35:24 AM EST

Minimum 15 to 30% will fall

Re: Will the residential prices fall ? (none / 0) (#6)
by Unregistered Visitors on Mon Dec 18, 2006 at 07:31:59 AM EST

In Pune price will fall for sure.

Re: Will the residential prices fall ? (none / 0) (#5)
by Unregistered Visitors on Mon Dec 18, 2006 at 07:30:30 AM EST

It will in Pune

Re: Will the residential prices fall ? (none / 0) (#3)
by Unregistered Visitors on Fri Dec 15, 2006 at 11:42:14 AM EST

Remember, For no reason prices have gone up in last two years. Real Estate is a cyclic industry and there will be definately a downtime. But no one know when...

Re: Will the residential prices fall ? (none / 0) (#1)
by Unregistered Visitors on Fri Dec 15, 2006 at 06:49:45 AM EST

Don't wait Bhai... Prices will go up and up.

Re: Will the residential prices fall ? (none / 0) (#2)
by Sumit Kumar on Fri Dec 15, 2006 at 07:01:57 AM EST

Wait. this is ridiculous. This make no sense. Consult with more and more realtors and then only take final decision.

[ Parent ]

: Re: Will the residential prices fall ? (none / 0) (#4)
by Unregistered Visitors on Sat Dec 16, 2006 at 08:40:01 PM EST

Guessing the market is same as playing dice. Buy in your budget in the areas which are affordable to you. I;m same many people are compalining about 2500 as being high too, for e.g those who could afford 1500 last year.

[ Parent ]

Will the residential prices fall ? | 13 comments (13 topical, 0 hidden)

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