Thursday, October 23, 2008

Should i cancel my booking at Nanded City Pune?

Time to reconsider your Pune real estate investment decisions:

Present economic conditions, Pune real estate slow down and expectations of property prices coming down in the next few months is compelling property buyers to reconsider their investment decisions in Pune and even in a project like Magarpatta City's 700 acre township Nanded City Pune on Sinhagad road.

Share your views, please!

Now a days, "Should i cancel my booking at Nanded City Pune?" is one of the questions i am most frequently asked. Day by day, as the time is coming close to finalize your 'application to book' into actual booking by paying your own contribution at Nanded City Pune, more and more people are going to reconsider their decision. Considering this, i thought, let us share our views and have a meaningful discussion on this important topic.

Useful information for booking a flat:

When property buyers call me on my mobile, +91 98600 44110, i know, most of the time they actually do not want to cancel but they just want to think loudly or discuss this issue with someone who knows little bit about Pune real estate.

My readers know that, basically, i am a real estate salesman. On my blogs, Ravi Karandeekar's Pune Real Estate Market News Blog and Ravi Karandeekar's Pune Real Estate Blog, i share information about real estate projects with my readers because i want to assist them in making well informed decisions to book flats in Pune.

Still, at the beginning of the conversation, i remind them that i am an expert in advising about 'booking a flat', not in the 'canceling the booking'.

Why you booked a flat in Nanded City Pune?

Magarpatta's Nanded City, Pune - 700 acre mega township on Sinhagad road, Pune
After making my position clear, i ask the caller to go back to the point of time when he took the decision to book a flat and ask himself, "Why i booked the flat at Nanded City Pune?" and list the reasons for booking.

Then, i request the caller, to ask himself, "Are there any major changes in your reasons for booking a flat at Nanded City Pune?"

To this most of the people say, "But aren't the property rates coming down in Pune?". I say, "Yes, property rates are coming down in Pune. Not in Nanded City Pune!"

"And you haven't booked a flat in Nanded City Pune because property rates were less than Pune? Did you?"

"I think even rates in Nanded City Pune will come down and many people will cancel their bookings." the caller says.

"Not a big deal. Every builder knows that when the hype is over around 25% cancellation always happens. He never lowers the rate because of these cancellations." i try to give him some insight into real estate marketing.

Sometimes i also add, "Have you ever thought why Nanded City Pune collected the 'applications to book a flat' in the first place?"

"Do you think they wanted to collect 50,000 or 1,00,000 rupees from the applicants?" i ask.

"No! I do not think so." i myself answer my question.

"Did they want to sell the flats?" i ask.

"No, not at all." i answer.

"Whatever they wanted to get out of the response, i am sure, they got more than they required. Now, you cancel or not is not going to affect the project. It will only affect you." i take full advantage of my role as an expert of Pune real estate market and tell the caller, "So, now go fast forward by, say, 8 or 10 years from today, imagine that Nanded City Pune is almost complete and ask yourself, "Was it a good decision to cancel my booking?"

Take a long term view:

I believe that real estate investment is a long term decision. One should not expect to get good returns in a short period of time. Most of the real estate investors know this but because of the recent boom in Pune real estate some people have forgotten this. We all know that current slow down in Pune real estate market may be longer than we expect. My point is, in this situation property buyer should remain invested for a long time.

I have said what i think is right. Let me remind you once again, basically, i am a real estate salesman. You will have a different view, I am sure. I respect your views. And i request you to share your views. Please, tell me, what is your take on investing in Nanded City Pune? Please, read the comments policy and share your views to add value to this conversation.

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Related Stories:

1) Is this the right time for NRIs to book a flat at Amanora Park Town?

2) Paranjape Schemes' Crystal Garden on Baner-Pashan Link Road and the beginning of a new world, Blue Ridge at Hinjewadi!

3) How to get "preferential property rate" for a flat in Kumar Builders' upcoming townships at Hinjewadi and Kharadi?

My blogs on Nanded City Pune:

1) What are your views on living in a gated community, townships like Amanora Park Town or Kumar Properties' Megapolis?

2) Everybody in Pune is talking about Magarpatta City's upcoming project 'Nanded City' on Sinhgad Road

3) Magarpatta's Nanded City may be on Sinhagad Road but it is an extension of Warje, Kothrud annex!

4) Launch of Nanded City, Pune - visit to the venue of Magarpatta's upcoming mega township on Sinhagad road

5) Launching of Nanded City, Pune - A farewell to India!

6) Nanded farmers turn shareholders in realty venture

7) Is Nanded City, Pune all about real estate development?

8) Nanded City - Pune opens bookings at Rs. 3,250 per sq.ft. from today morning at site on Sinhagad road in Pune

9) Magarpatta's Nanded City Pune closes it's offer of phase 1 with a promise to open 2nd phase in December 2008

10) Magarpatta's Nanded City - Pune: Mr. Suresh Kalmadi, MP and Chairman, Pune Vyaspeeth, you too?

44 comments:

  1. Ravi,

    No doubt: You are a very good salesman. If I get a person like you, I can dare starting a corporate organization.

    In my view point, if somebody have booked a flat in Nanded city (or anywhere else in India) for investment purpose (I call it speculation :)), please cancel it.

    Keep the booking only if you are going to stay there.

    The questions that you are asking to the prospected investor, Ravi, are not really making any sense in terms of expert suggestion. This probably is because the free service offered by you !!

    With the kind of suggestions you are making, the investors are going to loose their 25-30% of investment in next 2 years. Being a professional expert in this area, I did not expect this from you.

    ReplyDelete
  2. @ Atul, thanks for the comment!

    You are the first one to comment. Generally, first comment sets the trend, so let me repeat - I am real estate sales man. I look at the things from my perspective.

    I am requesting you to express your point of view, your way of looking at the things.

    Which i am sure, will be different from mine. But though your point of view is different from mine, i do not say you are wrong. I say, i do not agree with you.

    So, point of discussion is not whether i am right or wrong or one should follow me or not.

    Point is, "Should we take a long term view or should we take into consideration what is the current state of real estate (or only next 2 or 3 years) and come to decision."

    # ref: "Being a professional expert in this area, I did not expect this from you."

    # ref: "This probably is because the free service offered by you !!"

    Thanks for criticizing me.

    Thanks for jumping to the conclusion and passing remarks.

    I hope, by now, you must be feeling good about writing these comments and very proud about yourself.

    Next time, please, focus on the point of discussion. Not on me.

    ReplyDelete
  3. My two cents ...

    I agree with the previous comment. Real estate prices are falling and chances are very high that the NandedCity's prices will also come down. Satish Magar (with other sponsors) will try their best to maintain the prices at the current level.

    Let's consider the case where they do not lower the prices for a year or two then people will not buy properties and this will further delay the completion of the project. It may happen that they never start Phase II, Phase III etc. .. this will also affect the amenities because they are developed at the end.

    In my opinion it's wise to not invest money in Pune real estate market for a year or two.

    Dhurander

    ReplyDelete
  4. Whoever is questioning this, in my view ONE SHOULD IMMEDIATELY CANCEL AND STEP BACK.

    For a person like me, real estate doesnot exist for me as I have no money and don't see much perks coming in to my pocket in the coming 2 years at least, so doesen;t really matter at all what price is offered.

    Nanded City at this stage is a concept on paper, nothing actually exist, hence a great risk in investing in nothing in todays trend.
    Nobody knows who owns the land, whether farmers, developer or orther stake holders. No body knows their plan and heard of any commitments on starting the construction and completion date.
    My simple question, when this project was launched, there were wows that this project is over sold and bookings are closed for phase 1 due to over bookings. If this was the position, why things are not actually moving on the ground?

    ReplyDelete
  5. Considering the current situation in the market, those who have made booking in Nanded city can get good bargains outside at that rate.

    Nanded city says they are going to give the possession in June 2012. The sleeping period is almost 3.5 years. If you are an investor, you can get good deals in next six months. Why to wait for 3.5 years?If you are planning to stay there and made a booking, why to pay the rent for 3.5 years outside?

    If we pay by ADF there is always a risk of execution and if you are going to pay as per construction progress, you are going pay PRE EMI for 3.5 years(unless you have cash in hand). So not a good deal for a common investor!!

    From long term point of view if Nanded city gives better returns, many such other real estate projects may also give equal or little less returns.

    Ravi, your views please.

    ReplyDelete
  6. # ref: "Ravi, your views please."

    Yes, sir. Thanks for the comment.

    # ref: "those who have made booking in Nanded city can get good bargains outside at that rate."

    1) Nanded City Pune is an integrated township formed under special township act. So i will compare it only with the same type of a township - Megapolis, Blue Ridge, Amanora & all - not with a project in PMC or in any fringe village like Ambegaon. That's why i say "why you booked at Nanded City Pune?" Wasn't the special township the main reason to book?

    # ref: "good deals - next six months - wait for 3.5 years"

    Yes, Special townships are long term investment not short term.

    # ref: "If we pay by ADF .."

    Yes, you are right. Do not pay ADF at all.

    # ref: " From long term point of view if Nanded city gives better returns, many such other real estate projects may also give equal or little less returns."

    Yes, i agree with you - equal or little less.

    But other townships have no track record. Nanded City Pune has - Magarpatta City! That's the reason without any info property buyers applied. Trust - experience!

    ReplyDelete
  7. i just called up the nanded city office and disscussed about


    1. when are nanded city people going to call the customers who have booked the apartments
    --> in 1st week of november!

    This answer i am getting since a month now ... every time they keep giving some reason ... like minor changes in plan ... plans in PMC ... delay from PMC ... etc etc !


    2. in which order the people are going to get called ?
    --> in the order of the "type of the property" they ticked in applicaion form!

    ... again the varied answer! previously they were saying ... in the order of "form number" -- the number on application form .... then in the order of "receipt number" --- the number on payment receipt .... now the "type of property" -- 1 bhk, 2 bhk etc ...
    ... and one more thing ... now there is no 2.5 bhk! only 3 bhks! ! !


    3. i asked if my "receipt number" is 150 and i have selected 2.5 bhk. then when i will be called ?
    ---> no conrete answer !
    the problem here is if my "receit number" is 150 and if they are going to call 2 bkh people first then logically ... i have missed the opprtunity to select a good 2bhk apartment! ... coz now i m being treated in 3bhk ... where as while filling the form ... they had said that u can change the option while selecting the property!


    .............................
    long story ... but the real fact!



    can someone please tell me whats the truth happening there? and how many booking got actually cancelled there and why ?

    ReplyDelete
  8. 1) However, besides rational reasons, i believe, every one has his own emotional reasoning which plays important role in investing and buying decisions.

    2) Source of funds and expected returns are important parameters if you do not have your own funds.

    If you are taking a loan, then the interest you pay and returns you may get after, say, 8 years may not look attractive if you are considering it as an investment - 2nd property!

    What i have realized is, it is not easy to say yes or no. So everybody's views will help all to come to some decision. I believe in collective intelligence!

    ReplyDelete
  9. comming back to the "cancelling the booking" story ...


    according to nanded city there are not more than 200 bookings which got cancelled! and the reason
    given is purely personal and medical!


    according to nanded city there is a slowdown in pune real estate market but with the long term perspective nanded city is a good investment option. (they gave example of magarpatta city!)
    though the nearby builders like cross over county are ready to negotiate (less than 3500/- per sqfeet) there is a difference in "society" and "township" ... so nanded city is again a good option!


    so the maketing people at nanded city just keep talking on things which everyone knows but are not able to tell the truth / correct info - whats the status of project is!


    when asked about the delay in project they just said its a huge project (with 7000 apartments and 50 buildings) so there is this obivious delay!


    --> come on yar ... delay while contrsuction is understood ... but here the delay has started right from the project planning phase!


    when asked "how can such a delay happen when you guys have an experiance of successfully implementing a huge project like magarpatta" ... there was no answer!

    ReplyDelete
  10. # ref: ""how can such a delay happen when you guys have an experience of successfully implementing a huge project like "magarpatta""

    Very important point. You will find answer if you ask, "what was the reason behind accepting the applications for booking?"

    Special Townships need lot of permissions and sanctions from the government. Have a look at Amanora Park Town's website. They have given a long list of clearances. Nanded City Pune may not have got these yet. They should publish some official status report.

    Don't be impatient!

    ReplyDelete
  11. very good point ravi : They should publish some official status report.


    if you see the website of nanded city then its just a 4 month old swf!


    if nanded city people keep updating the customers about the status of the project on website then there wont be any misconceptions / specilations / long dissucssions / roumors about the project delay / booking cancellations etc ...



    HOPE TO SEE SOME OFFICIAL UPDATE SOON ;-)

    ReplyDelete
  12. I sid this earlier, repeating again.

    In summery, Nanded City is only a concept on PAPER, nothing exist in reality, that's why we see this cheaos.

    I think, investors should sense this alarm and try to anticipate where they are ending.
    Remember what happened today in the stock market (india)..!!
    I myself will call me fool if I am talking of investments today.

    ReplyDelete
  13. Hello Ravi,

    Your blog actually gives some information which is always better than nothing.

    As everyone know that there is no updates published on offical website of Nanded City.

    Following are my queries, Please reply to them if possible,

    1. Can you provide some details about the booking plans if you got some information from sources.

    2. 10% amt is the we need to pay at the time of booking.
    So do we require to apply for the loan immidiately. When will be the first disbursement?

    3. Is it good idean to apply for loan right way after booking, bcaz possession will be after 3.5 year. so paying pre-emi for 3.5 years doen not look so good idea what do you think about this?

    Thanks

    ReplyDelete
  14. Ravi, if you can give us a flashback account as to what was the market situation when Magarpatta City was getting launched, it would help the readers compare Magarpatta City & Nanded City more realistically. I see that the history is repeating itself at the biginning of Nanded City project and so will it in times to come. What do you say?

    ReplyDelete
  15. # ref: "What do you say?"

    Sorry, i didn't get you. According to Mr. Magar, majority of the Pune real estate market did not take Magarpatta seriously for the first 3/4 years. Which was obvious because, there was no boom in those days. Normally, property buyers are critical and at the initial stage real estate projects are not impressive. Now, we have experienced the boom. It takes time to re-learn to see and understand.

    ReplyDelete
  16. You said it right. At the beginning of Magarpatta City project , there were no takers for the project and the concept. People had discounted it as a sure flop. Ultimately in the long term it turned out to be a grand sucess. I think Nanded city is in a similar situation today. Those who cannot visualise it's long term glory, and cancel the booking today, are sure to repent later.

    ReplyDelete
  17. Ravi & All intrested in Nanded City,

    1. All points u people are putting are certainly valid.
    2.But considering the rate for Nanded city were quoted considering real esate boom and good economic situation.

    2. Now situation is different. Not only IT but manufacturing sector is also affected by global recession.

    3. If you see customer of pune real estate market are max. from IT idustry and Auto/ Auto Anicallry indutry.

    4.Reality in market today, is people are worried about what will happen today , tomorrow , three months down the line.
    Ravi, forget about long term view of the market. Who wants to thinks for long term when , there is problem for today.

    5.So my request to you Ravi,consider all these points.

    6. If Mr. Magar and team dont know this let them understand this.Try to imagine situatipn for real buyer.

    7.Another thing who wants to wait for 10 years. I am today 31. I will get all benefits of facilities of township Nanded city at 41. DO real buyer will buy this ? No , only investor will but not a real buyer.

    8. I respect your experience in this field. But ask Mr. Magar to consider all these thing while quoting extra cost. Many decisions will be based on that

    9.Another thing, if people are getting possession after three years, Nanaded city should reduce their margin that should accomodate some of the prepossession EMI.

    10.If Mr. Magar , really thinks on this line. This will help to turn even pune real estate market

    Ravi , ur comments please.

    Thanks,

    Nilesh

    ReplyDelete
  18. I do agree with Ravi's long term view on the investment in the Nanded City (provided one have enough money in spare and do not know how he can earn profit other than putting that money for the high wave for property. Additionally, I would like to list out some points to be taken care of while booking (or cancelling) the said property...

    1) Going by the trust and experience of the developer. Nanded City will stands apart from rest of the project. One will really feel proud to be a part of the project that is so much talked about and featured at various program/movie/documentary etc i.e. Magarpatta City.

    2) If one is really looking for resident purpose, I suggest them to have a look on Magarpatta City first. The reason saying so is by the time Nanded City will start giving possession, Applicant will be loosing money like anything on i.e. 1) rent (already too much), 2) Pre-EMI (assume applicable for 18 months only) then EMI will start 3) comparative growth and increase in the rates to other projects (i.e. Magarpatta) 4) Finance from the Banks etc. that will be easier for Magarpatta. For the future project, referring to US Market condition and the impact on Indian banks. Only bank can tell. 5) In Magarpatta, one can get near possession or completed resale unit. 6) Proximity to Airport, Railway Station, Kalyani Nagar, Kore gaon etc. 7) In delayed possession at Nanded City (99.9% sure will be) will be another trouble.

    3) Since we have already seen the top of the propery prices. It really needs an intelligent speculation to earn the profit in the long term as well for investment. No one never know how long the market is going to sustain the growth and at what pace?

    How many of us has seen "Buy one get one free for property”? Get a BMW with a property?

    Just 3-4 years back in Pune, there was no property on the shelf, which was coming with Home Theatre, Plasma, AC, Refrigerator, Kitchen work, Car, Gold, Wooden floor, Wood work etc. Forget about luxuries, even basic necessities i.e. bulbs, tubes, fans were not provided.

    4) I have seen projects getting delayed like 6 months to couple of years because of so many damn reasons i.e. 1) Labors are not available (courtesy MNS), 2) Cement is not available and so on... This point need to be taken seriously to plan the finance.

    In my humble opinion, Govt should force a mandatory clause on all builders to compensate the applicants reasonably in case of delayed possession. 90+ % builders will take the applicants granted and take them for a ride to make money while delaying the possession (that is construction for any damn reason socio/economic/political factor).

    5) Its a down fall so my suggestion will be to wait for the market to stabilizes first and take a move. Do not follow the trend.

    6) For Investor having (surplus money) are always having the upside to own the luxury whether the tide is coming or leaving.

    7) So finally, Love your brain, Love your money, but be aware of the speculations, because it is always upto individual to know their boundary and sustainability.

    Hope this helps.

    ReplyDelete
  19. Hi Ravi

    Few Questions regarding this project

    1) Promoters were suppose to call the people who have made booking from October to December and they promised to come back with Phase II in the month of December. Forget about Phase II now, but do you have any idea whether they actually called any people for booking till date?

    2) If someone is interested in cancelling the booking today and informs them regarding the same, when he will get back his booking amount?

    3) Any idea about the actual dates for starting the payment / cancellation activity?

    Can you please share your information regarding above points?

    ReplyDelete
  20. A person who canceleld his booking told me it takes 2 weeks to process a cancellation request and then a 3 month postdated cheque is given out.

    ReplyDelete
  21. Hi all I just received a call from Nanded City saying that they are starting the selection process from Monday (17th of November)!
    You will have to visit the Nanded City office for this with the payment receipt.
    So enjoy the selection!

    BTW
    Does anyone has any more updates on this?

    ReplyDelete
  22. Hello
    I a resident from Pune want to ask some question on the same topic ...


    1. People are talking about real estate prices coming down in Pune but in reality there is nothing like that. If you see there is no change in the prices. The prices are constant. Only recently there are some discount offerings like PreEMI discounts, discount in interest rates etc. What do you think when the prices in Pune will come down? Or Will they come down ever!


    2. I have given a booking amount for an apartment in Nanded City Pune. (rate- rs 2750/- per sqft) What do you think the rates in Nanded City or in nearby area will come down below 2750/- ?


    3. Is this a wise decision to invest in Nanded City Pune at 2750/- rate? Provided the real estate prices correction, interest rates corrections and current economy is fluctuations are concerned?


    Thanks in advance for the help!

    ReplyDelete
  23. Ravi & All,

    Do any one has idea on

    1. How much is extra cost over and above 2750/- for One time mainainence + Parking etc.

    2.Is there any discount offered over 2750 ? I heard that Nanaded city is going to make what ever the booking rate , it will be all inclusive. You just have to pay stamp duty & registration.

    Thanks in advance

    ReplyDelete
  24. Dear,

    I am having same dillema-

    1. I have booked nanaded city . I am going to stay there,It is not pure investment

    I dont know , if I cancel the booking what is the chance of getting same rate

    I am also thinking , nanded city will make 2750 as all inclusive.

    ReplyDelete
  25. Dear All,
    Like many of you, even I trusted this concept and booked flat in Nanded City. I just called Nanded City today and the lady on phone said, they have started the selection process. As Nanded City is still playing same swf on website since May 08, I asked if this is going to update. "It will take another two months" was her reply. I'm wondering if they takle so much care and time to update those people who trusted just a peace of paper in May 08, how long they take to actually realise the concept?

    Can those who have gone through selection process provide some updates on whats going on there? What abt parking charges, Stanp duty, registration , MSEB ..any special considerations or discuonts after correction?

    Thank you in advance and happy selection!

    ReplyDelete
  26. Hello All,

    Are they reducing any rates for the people who booked @ 3250 and 3500 or it's still the same?

    Any news about this?

    ReplyDelete
  27. hi ravi ! hope u doing well. ur blog has always been very helpful to me. thanks for such a valuable info making available online!
    but ravi, currently i m not much happy with u ;-) the reason is simple! : what i have observed is, u are not as vocal as before on nanded city topic. for example for "this" post as well as on "confirmation started for nanded city" post there is n number of people asking for your help. but where are you?
    why are u keeping mum on nanded city topic? are you biased? are you afraid of something? or something else?
    i m not sure my this comment is accepted by ur "comments policy" or not. but i just wondering about this sudden change in u so thought i should convey this to u!
    btw ... thanks for all good that u write ... we are very much egger to hear from u! :-)

    ReplyDelete
  28. Dear All ,

    Following are possibles reason for noreply from Ravi

    1. First remember , ravi is real estate saleman. Sales man does not work for free. This time Ravi may got paid for keeping his mouth shut.

    2. Ravi may dont want to take all pap on his head by advising people to purchase Nanded city

    3. He is still getting information . Hope he publish that.

    So wait ...

    Come -on Ravi .
    People need you expert opinion. Please dont throw them in ocean and ask to find the way

    ReplyDelete
  29. Anonymous said...: Dear All ,

    Following are possibles reason for noreply from Ravi

    1. First remember , ravi is real estate saleman. Sales man does not work for free. This time Ravi may got paid for keeping his mouth shut.

    2. Ravi may dont want to take all pap on his head by advising people to purchase Nanded city

    3. He is still getting information . Hope he publish that.

    So wait ...



    Please, visit "How many cancellations happened at Blue Ridge?"

    ReplyDelete
  30. Thanks Ravi for your inputs. But my personal opinion is..stay away from RE for some time and you will get very good deals. Even I had booked a flat in Nanded City but cancelled when they called me for selection. This might help you what might happen to these adament builders -

    http://profit.ndtv.com/2008/11/19220817/Will-realtors-really-slash-pri.html

    ReplyDelete
  31. Ravi,

    its always good to read ur port.

    we group of 5 peoplle cancelled flat at nanded city. we still feel the rate 2750 is still on higher side looking at the current economy crises. its better to invest the amt some where else then this project.

    we also excpected mgnt to lower the price looking down the completing stage.

    regds.

    ReplyDelete
  32. Had called up Nanded City and asked about drop in the rates looking at the current meltdown. They mentioned there is no any reduction in near future but if that happens then benefits would be passed on to people who do the bookings... Totally confused whether it is good price/rate to invest as 2nd property.

    ReplyDelete
  33. # ref: "They mentioned there is no any reduction in near future but if that happens then benefits would be passed on to people who do the bookings.."

    At Magarpatta City for 1 bhk they are offering "rate guaranty". In case of reduction in the property rate of the project till the possession of your flat, the same rate will be applicable to you!

    In fact, many projects are offering this type of a "rate guaranty"!

    What is your take on this? Is this the solution to your worry?

    ReplyDelete
  34. Ravi,
    You are right that investors will be protected against price fluctuations from Nanded project. But given the current "START" of the meltdown in the real esate market in India it will not be prudent to get into a project like Nanded City where you will be locked-in for 3 years AFTER getting delivery of the project. Their project's first phase will be delivered sometime around 2013-2014. And you will not be able to sell it till 2017-2018 so there is a period of 9-10 yrs wait before you get any rewards (if you get it)..

    In the current market for the same price as Nanded, one will be able to get good properties in prime areas which you can sell at any point of time, so why even get into investment in a remote area like Sinhagad Rd and be locked for 9-10 yrs???

    ReplyDelete
  35. Ravi, excellent blog and I admire your consistent writing to make people aware.

    If you are investor better hire a PF consultant and invest in Stock Market! ..

    Before jumping to Nanded City, please go and study how Magarpatta City is built and how many years it took for that one!. That will give some confidence to you before you make a booking. If you can wait for 5-6 years to see the REAL nandedcity , please do the booking ..otherwise at Sinhgad Road itself there are ready possesion flats for Rs. 2500/- :)

    cheers
    Sandeep

    ReplyDelete
  36. Hello,
    it is March 2010.
    I recently booked at Nandedcity Pune at 2850/-
    Any one booked recently?

    Ravi if possible please reply.
    Others who booked also please reply.

    --Thanks

    ReplyDelete
  37. Rajiv

    Hi Anonymous,
    I also have booked at NC recently at the same rate. But I am wondering if I have made correct decision or not, after reading all the posts on NC and after realizing that when this discussion started the rate was 2750 and in last one and half years is increased by only Rs. 100.
    If this same pace remains, then for you and me, it would be a blunder to have booked at 2850. What do you think?
    What do you think Ravi? Just your staying 'Congrats' to the anynymous does not say any word if his decision is right or not (or could have better). Please talk.

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  38. Dear All those guys above who had predicted above (in Oct/Nov 2008) regarding the further crash in Pune RE prices, first I admire you for your vision. Whatever, you had said has come true - today - almost one and half years after you had predicted this - we are seeing that the prices in Pune RE have further dropped, the prices at NC were droppped and now are at the same level when they started two years back (Rs. 2750-2850psf).
    All you guys and Ravi, two years after your earlier discussion, I am interested to know what are your further views regarding the future of Pune RE in general and NC in particular.
    Do you think as an investment NC is a better option now or is worse than what it was.
    Please reply.

    THANKS.

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  39. RAVEE, Wainting for your response on the above two comments.
    Thanks.

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  40. 1) We are in 2010. Real estate market of 2003 to 2009 is over. Now, you can expect only organic appreciation. Around 11 % per annum.

    2) Nanded City Pune is an integrated township of 700 acres. You have to remain invested here for a long period of time.

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  41. Dear all I booked Flat in NC and rate was 2850 but now rate is 2950.Work is in progress and it ois satisfactory.

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  42. I make enquiry for availability of 2 bhk in madhuvanti and i came toknow all soldout. See developement of sinhagad road ,rates around NC .I think NC is best option now adays to invest.
    Registration process is also started there.
    in future connectivity of NC to all major area willbe developed . on option of metro train they should think they think over that
    It's realy a very big project and beautiful location.
    In that Area 1. paranjape's madhukosh
    2.Darode jog's county
    3.Vasant Vihar
    lots of projects are there so appreciation of money will be there.

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