(Isn't it naive to ask a builder about reducing the property rate?)
Why?:1) The prices have already reached the bottom.
2) High interest costs
3) Charges levied by Pune and Pimpri-Chinchwad municipal corporations
4) High input costs
Means - Pune builders are desperate to cut property prices! The official quote is always opposite of what PBAP actually means. Remember, the statement about price rise because of steel and cement rates?The Pune builders’ community has flatly refused to effect any price cuts in residential projects, even after major realty organization like the National Real Estate Development Council (NREDC) and the Confederation of Real Estate Developers' Associations of India (CREDAI) asking its members to slash prices.
“The last few months have been a very tough time for the entire community because of the slowdown in the market and several other reasons. The prices have already reached the bottom. I see no scope at all for any further reduction in home prices in Pune,” said Lalitkumar Jain, president of Promoters and Builders Association of Pune (PBAP).
According to a realty consultancy firm, a flat in some of the decent areas commands a price between Rs 3,000 and Rs 8,000 per sq ft, still a distant dream for most prospective buyers.
Blaming it on high interest costs and charges levied by Pune and Pimpri-Chinchwad municipal corporations and input costs, developers said that the prices in Pune have already seen all possible reduction.
Related Story:1) Builders will increase the rate according to the stage of the construction, says Shantilal Kataria, while talking on rising property prices in Pune
2) Builders in Pune dismiss suggestions that the property prices are heading for a sharp drop, claims that the demand is steady & still outstrips supply
3) Developers are likely to be forced to reduce prices further and offer higher discounts to clear existing inventory - BNP Paribas
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