'Pune property prices are expected to further depreciate by so and so %'...'Pune property prices are going to fall further...' We all keep on reading, hearing and also gossiping around this topic almost everyday. The situation might be true in a sense considering the current market scenario but I personally feel that the issue has been blown up too much.
The rates are being corrected. However, the media reported dramatic fall cannot be expected. . Is there no one who is looking out for a good home? Is there no one who wants quality work? There are plenty of them. The pseudo information has stagnated the liquidity in real estate sector by creating a kind of fear in the minds of prospective buyers that the prices are going to crash drastically and that investing now in real estate will be a bad idea.
There are genuine buyers having finances ready to purchase good homes but unfortunately the gossips are preventing such people to go ahead. Yes, the Banks have reduced there lending elasticity but they are those which are MNC's having obvious large business interests in mind and were giving loans like charity just to create a strong foothold in banking industry.
Things are looking good now especially since RBI has now announced further cuts in their policies which will directly effect the interest rate depreciation. My sincere advise to all the prospective buyers is that do not play the wait and watch policy. It just might be the case where in your high expectation of prices coming down can turn into an anti climax where in the rates will shoot up again.
So take your decision today...This is the right time to go for Your DREAM HOME...
1 comment:
Darshan,
I appreciate your views.
We all do have dreams of having good house, big house etc etc. Similarly, we all dream about Mercedez Benz and multiple of them. We also dream about son studying in a best (and costliest) of university. I am sure, many of us also dream about multiple life partners.
But there is a difference between Real Estate and other dreams - atleast for now.
In terms of Real Estate, people are buying by taking loans. Other dreams they do not want to buy by taking loan. Did you try to understand why?
Go little deep. Across the world (Including India), a simple maths has been IMPLANTED in every human being. And that is - 'Real Estate prices always appreciate'. This is the reason why people want to first buy and then pay.
The fear factor of prices going up have been driving every individual to purchase real estate as early as possible.
Now compare this with current situation. EXCEPT INDIA, across the world, this belief is broken. Now people know that Real Estate prices can go down by as much as 60%. So they have started accumulating their dreams. Just like they keep accumulating their dreams about having many cars, many spouses, huge wealth etc.
In India, there are people - Politicians, Land Mafias, Real Estate companies and investors like YOU, who are neck-deep invested into Real estate. They will not allow the bubble burst till the time they take out their investment.
BECAUSE AS USUAL IN INDIA, THE FINAL SCAPE GOAT SHOULD BE GENERAL PUBLIC.
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