Pune Real Estate Market

"Real Estate Market, Pune" is now moving towards sky high touching prices. In some parts of Pune, rate of the property has been increased by more than Rs. 1000-1500/sq ft in last one year. It seems that most of the builders have association or as a single family and want to fill their pocket with the money at the earliest.

Hardly any builder cares the end users or customers & even they do not bother about themselves future, may be they think once the money is made, can be invested in other sector or places. Mostly builders talk about their construction cost only & hardly anyone think about their products & end consumers. Also seems they want to ruin/crash their market by themselves.

During my MBA everybody talks about the consumer market. If you want to survive in the market a company must make the product as per requirement or demand of the customer which can suffice the consumer's needs & wants. But I think real estate sector now altogether different because its builders market & only builders can dictate the market and consumers or customers have absolutely no role in the market.Today builders behave like the king - eg. This is the product we have, if you want to buy this, you will have to buy with the so & so conditions and customers cannot put a single condition from their side to builders. This kind of Market we have in our greatest & biggest democracy where only 2-3% people or even we can say lesser than this dictate the mean of democracy. So we all can imagine the life of the Aam Admi. Now its going to be even more Pathetic & Worse, if still consumer do not wake-up.

At the same time, I feel, Government of Maharashtra & local bodies have taken the contract to pull all the money from public pocket by increasing the taxes day by day. Now one more tax is being implemented in Pune or Maharashtra i.e. L.B.T. (Local Body Tax). Every department is looking at how to make more money. I used to read that every government body is formed to help the citizens or public of their respective locations or areas. But here the entire department has taken the oath to loot the public the way they want to make fool & cheat the public they will. No others have the rights against it.

If we see the "scenario or better word is trends of Pune Real Estate Market" of the last 3-4years, it has drastically changed which should not have been. Now I believe Pune Real Estate Market would go in worst condition in coming 8-10 years. 

Whenever Aam Admi think to buy home they think about whether he or she would be eligible for home loan or not & can they buy home from their salary or not. You know if a buyer is taking a home loan from any housing finance company, in returns buyer pays to respective housing finance company more than 2.5 times to the loan amount during the whole loan tenure. Imagine the financial load a property buyer would have after getting the loan disbursed. And now upar se all the taxes by the central, state & local bodies.

We can hope for the best.

Thanks Everyone!!! 

Praveen Kumar

This is purely My Personal View.

Written on 07-April-2013.

HUBTOWN COUNTRYWODDS in KONDHWA, PUNE by HUBTOWN LTD.

HUBTOWN has withdrawn his hand from Pune residential project which is currently going with the name Hubtown Countrywoods at Katraj Kondhwa Road, Kondhwa, Pune. I absolutely don't understand why so happened? May be one of the reason is current project has been delayed by 1.5-2 years and now over all brand value (branding) is degrading due to Hubtown Countrywoods.

If so, can anyone build or retain a same brand name by withdrawing his hand from existing location (i.e. Pune) where HUBTOWN has already awareness in the mind of public of Pune. What I believe/feel withdrawing hand has more negative impact in the market than continuing with the 2nd phase. Because, Hubtown Countrywoods comprises of all types of customers like localities (puneites), maharashtrian, non-maharashtrian & from overseas as well. And, they are customer, ultimate cutomer & investors. All these customers know/understand well the reasons to withdraw his hand from 2nd phase & delay in possession for 1.5-2 years. So, what company wants to make understand these customers or clients by withdrawing hand from Pune residential projects? You can only remove your demarketing by giving best quality products & services now i.e. building stronger relationships with existing & new clients.

HUBTOWN COUNTRYWOODS in KONDHWA by HUBTOWN LTD.

When better times has come to launch new projects or venturing in to new projects to generate maximum revenue then HUBTWON withdrawn. Since, now nearby area is developing, new projects are coming & now rate of development of this area would be faster than the previous because some projects on verge of completion(e.g.- ISCKON Temple) or almost ready for possession & now development will happen to fulfill the needs & requirement of those people who are going to live in recent future. So, now rate of property would also increase faster than previous in four years down the line.

We need to find solution for rebranding or better branding but here we are trying to escape from problem to rebrand the company.

Best Wishes, 

Thanks Everyone!!! 

Praveen Kumar

April'2014

(This is purely my personal views.)

RESIDENTIAL PROJECTS IN HINJEWADI :

Project Name Milange High Mont Ashok Meadows Tinsel Town The Crown Greens Megapolis EON Homes Developer Name Rama Group Mittal Brothers Peninsula Land Ltd. Kohinoor Group TCG Real Estae Kumar Properties Kasturi Housing Address Phase 3 Phase 2 Phase 1 Phase 2 Phase 2 Phase 3 Phase 3 Project Size 11 Acres 8 Acres 24 Acres 5 Acres 10 Acres 150 Acres 27 Acres No. of Buildings 7 7 29 5 9 12 No. of Floors P+14 2P+22 P+11 P+14/21 P+21 2P+13 2P+22 Total no. of Units 750 850 512 800 15000 1200 Loading 35% 35% 35% 35% 35% 35% 35% Base Rate 5150 5500 5400 5103 5500 4600 5500 Floor Rise Rs. 50 from 5th-9th & 100 from 10th-14th Rs. 60 after every 3 floors from 4th Rs.30/floor from 1st Rs. 54 from 5th-9th & 100 from 10th-14th Rs.25/floor from 4th Rs. 50 after every 3 floors from 6th Rs.30/floor from 6th PLC Rs. 100 Rs. 100 NA Rs. 50 Rs. 100 Rs. 50 Rs. 300 Infrastructure Charge Rs. 4,00,000 Rs. 5,00,000 Rs. 4,69,790 Rs. 5,25,000 Rs. 5,50,000 Rs. 4,60,000 Rs. 7,10,000 Maintenance At actuals NA Rs 3/Sq. Ft Rs 3/Sq. Ft Rs 3/Sq. Ft NA Construction Status 70% 65% 80% 80% 30% Possession Jun-18 Jun-18 Ready Homes Jun-18 Ready Homes Dec-18 Dec-18 Remarks No Pre-EMI till Possession No Pre-EMI till Possession Ready Possession Republic Day Special Rate Rs.4500/- Ready Possession Modular Kitchen, Furnished Bathrooms, AC in all bedrooms, False Ceiling, etc. This is for information only. Thanking You!!! Praveen Kumar