Saturday, May 2, 2009

To buy or not to buy? - Express Estates conducts a debate on the dilemma a buyer face today

Shaken confidence:

Even when most of the real estate developers are making lucrative offers to lure customers into buying flats, the buyers are still keeping their options open and are treading carefully. There is an improbability in the market. Transactions, particularly in residential segment, take place when buyers are sure of a steady income stream. When that confidence is shaken, no matter what the salary of a person is, chances are that he will not buy a property.

Property prices:

The second issue is prices. The feeling that the prices will further go down has to be mitigated in some way because if there is a feeling that if prices are going to go down further, the buyer will again sit noncommittal and not take a decision.

Yet another issue is: the buyer feels that if he gives money to a developer, what is the guarantee that the project will be completed? If these three issues are taken care of, the buyer will be back in the market.
Some of the real-estate experts feel that the demand has not evaporated, it’s waiting to come to the surface but at the right price, right sentiment and with some kind of a guarantee that the product will come up in the market.
To read the views of affirmative Mr. Pradeep Jain, Chairman of Parsvnath Developers Limited and President Of Credai NCR, and Anuj Puri, chairman and country head of Jones Lang LaSalle Meghraj, contradicting Mr. Jain, please, visit - Indian Express

Please share your views:

How are you dealing with the dilemma of to buy or not to buy real estate in Pune? Please, share your views in the comments. Comments Policy

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  1. NOT TO BUY is the correct answer on this dilemma, why, because -
    1. Prices are not attractive.
    2. Builders have kept the prices at the same level which they were before last year, but reduced the size of the apartment; which is absolutely rubbish.
    3. Post election results, we will see real Indian economic picture, what we saw till date was more over a speculation of Indian Economy's robustness.
    4. Global economic trends are contuning to be bearish and no sign of near recovery, this will have bigger impact on export houses and IT sector of India.

  2. BUY only if you need a house to live and is ready possession and in the range of Rs. 2000 per sq ft or less (irrespective of the size of the apartment).

    If this is not the case, guys just don't think about Pune Realestate; it's all hyped and not real.

  3. Not to buy
    Prices have not corrected significantly in Pune.
    Feeling of builders sitting on fat margins. Allowing flats to remain vacant or slowdown construction of projects.

    Big players r cracking DLF, Unitech; when r smaller players going to take cue?

    More transparency and balanced deal for the customers r required

  4. pune is slow and sluggish and oversupplied but only in SHORT TERM its very deceiving a couple of years later you would be saying oh i could have bought at the 2009 prices it happens so fast and looks so gradually that prices when they went up we realize only after not buying having said that i do feel we can wait this time a few months but do buy after that dont wait for ever