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.