Best time to Pur­chase

Accommodation Times - - Editorial - By Dr. San­jay Chaturvedi

This is the best time to pur­chase real es­tate and invest since the real es­tate ave seen a bot­tom of the mar­ket rates as com­pared to 2007 level. Rates are low­est ever and not likely to go down fur­ther. Though sup­ply is eigh­teen times of de­mand and lot of fin­ish prod­ucts are in mar­ket es­pe­cially in Pune, Navi Mumbai and Kan­di­vali and Bori­vali area. The in­vestors must not look int th­ese mar­kets since in near fu­ture the sup­ply will not al­low rates to es­ca­late. On the con­trary, the rates will be marginally de­cline in Kan­di­vali, Wadala, Kore­gaon Park Pune, Ban­ga­lore South. New launches will be higher side in De­cem­ber and one should com­pare his­tor­i­cal data and of­fer­ing by ICICI Se­cu­ri­ties, Magic-Bricks, and other list­ing sites who have started sell­ing prop­er­ties and gen­er­at­ing leads to the de­vel­op­ers. There will be new launches but all ave been sold in pre launch sales and end user will get flats from in­vestors though resold by the de­vel­op­ers. Lot of op­por­tu­ni­ties and choice per­sist and one can now avail greater bar­gain for deals. Bro­kers are the best bet to find your dream homes. They know pre­cisely where and how to ne­go­ti­ate and what was last price a builder had sold for. A good bro­ker will not only save your money but will earn with­out giv­ing pain to your pock­ets.

Deals on list­ing site also very good. Be­fore pur­chas­ing a home one must do some re­search as to com­pare price go in the lo­ca­tion and see the site per­son­ally in night, day and ask res­i­dents about builder's deals and prac­tices. The new gov­ern­ment in cen­tre and in Ma­ha­rash­tra it seems are more keen to pro­vide af­ford­able hous­ing hence one must wait for gov­ern­ment hous­ing be­fore tak­ing ex­pen­sive flats in far flung sub­urbs like Shil Phata, Thane, Bad­la­pur, Am­bar­nath, Kalyan and Dom­bivali. Th­ese places will not give you any ap­pre­ci­a­tion but will add more trav­el­ling times to Mumbai. Te on­go­ing rates in Thane is 12000/- per sq.ft. where as in Kan­di­vali it is 8000/- to 10,000/- per sq.ft. One must look at the op­tions within the bud­get and try keep him self within BMC lim­its.

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