Hi,
This is not a complaint, but rather a suggestion. Pune realestate market is not going anywhere the reason because
Builders in Pune are asking the rate which does not justify the quality, location and most important availability of resources in the vicinity. I had couple of encounters where sales representatives said you have money and we would like to pull it from your pocket so we will charge whatever we want. As per my understanding, Wakad, Pimple Nilakh, Pimple Saudagar areas is what it was 5 years back and will be assumed to be same for next 5 years. In these areas there is no visible benefit. Roads are worst, no vegetable market, no proper water supply, no lucrative transportation from main city to Wakad. Auto and TumTum charges like they are driving a Mercedes. Under all these circumstances builders are charging development rate of future by asking that after 5 year it will be developed. I do not see at least any significant development. In India there is no concept of building insurance & if the lower grade building collapse by any means then the buyer will become stranded. I don't think that any builder make an attempt to insure the building.
It is high time that this industry should be regulated. My suggestion is to introduce regulation in real-estate industry & put controls on quality of construction vis-a-vis the price that they are charging. There should be some form of rational & the offer the builders are making should be lucrative enough for a middle class person to buy a dream home. This regulation should not only applicable to only pune builders, but the real estate industry in every corner of India.
Regards
Subbu
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