Sunday, February 15, 2009

Jones Lang LaSalle Meghraj expects Rs. 1,800-2,000 per sq. ft. as the bare minimum pricing level for affordable housing in the current market

Real estate market in for a sea change:

Price corrections are more pronounced in new launches than existing projects, which are mostly sold to end-users/investors and hence are cost covered, says Anuj Puri, Chairman, Jones Lang LaSalle Meghraj (JLLM), India.

In a recent study conducted by JLLM, he has stated that the industry focus has shifted towards affordable housing and the margins are becoming thin on account of the high cost of existing land inventory (acquired during 2006-08) and the current cost of construction. JLLM expects Rs. 1,800-2,000 per sq. ft. as the bare minimum pricing level in the current market.
To read more, please, visit - Shanthi Kannan - The Hindu

What is your take on affordable housing?

You may have noticed that i have not written much about affordable housing projects in Pune real estate market. Except small posts about launching of Gera's Park View 1 at Kharadi and Sara City at Chakan.

First reason is most of these projects are just an announcements which are not worth considering in the present uncertain economic conditions. Project should have obtained all necessary sanctions - approvals and construction should have started on the site are my minimum expectation from the newly launched affordable housing projects.

Second reason is when i look at the planing and the features, i wonder exactly for whom these projects are planned? I do not find they are suitable for my readers!

Please, correct me if i am wrong and in the comments (Comments Policy), please, tell me your opinion about the recently launched affordable housing projects in Pune.

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 5 minutes!) Call +91 98600 44110

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