It’s time homebuyers take a hard look at their own buying behaviour.
While we often blame developers, brokers, or market conditions for rising home prices, the uncomfortable truth is this — consumers themselves are playing a big part in driving up property prices.
The Problem: Buying Without Data, Driven by Hype
Most homebuyers today don’t do enough research. They’re driven by buzz, influencer chatter, or large-brand advertising — not by numbers. Instead of analysing price loading, construction timelines, or inventory stage, many buyers rush into bookings simply because a project is “trending.”
This behaviour has a cascading effect: developers see that people are willing to pay inflated rates, and the next project in the same area automatically launches higher. Over time, that hype premium becomes the new normal.
Case in Point: Wakad, Vinode Vasti, and Indira Areas
Take the western Pune micro-markets of Wakad, Vinode Vasti, and Indira. Over the last year, all the major ongoing or newly launched projects there have been sold at approximately:
- ₹7,200–₹7,300 per sq.ft. (Saleable) for premium developments with ~40% loading
- ₹6,800–₹7,000 per sq.ft. for 2BHK configurations
Now compare this with a new pre-launch — let’s say Kohinoor, a smaller 9-acre project still two years away from possession.
Despite being at an early stage, Kohinoor is demanding around ₹8,500 per sq.ft. (saleable) — nearly ₹1,000–₹1,200 higher than ongoing premium projects already nearing completion.
What’s Wrong With That?
At first glance, this may seem like just another pricing strategy. But here’s what’s actually happening:
1.Heavy Distribution Margins:
To justify such a high pre-launch rate, developers often push large margins through distribution channels, inflating the perceived “market rate.”
2.Delayed Delivery = Hidden Cost:
Kohinoor, for example, will deliver 2 years later than ongoing projects. Buyers will end up paying ₹15–₹20 lakhs more in EMIs over that period — for a flat that isn’t even ready yet.
3.Market Price Reset:
Once one developer successfully sells units at ₹8,500, others in the same micro-market start revising their prices upward — even if their product or stage doesn’t justify it.
In short, one premature buying decision can trigger an entire wave of price escalation.
The Domino Effect on Other Developers
Let’s look at the ripple impact.
Projects like Central Avenue, Treasure Troves, and Sukhwani Skylines — all of which were selling at healthy, justified rates till last month — will now be tempted to increase their prices once they see consumer traction at ₹8,500.
And that’s how buyers end up collectively inflating their own market.
What You Can Do Differently
1.Resist the Hype:
Don’t get swayed by “pre-launch rush” or “limited inventory” calls. These are marketing tactics — not market truths.
2.Compare Projects on Facts, Not Names:
If a project offers possession in 2 years and costs ₹1,000 more
per sq.ft., you’re effectively paying ₹15–₹20 lakhs extra.
There are ready or near-ready options at
₹7,000 per sq.ft. — choose data, not noise.
3.Understand Loading, Carpet Area, and Total Cost:
Always evaluate the price per carpet area, not the sellable. That’s the only number that truly reflects value.
4.Check Legalities & Approvals:
A slightly lower-priced project with clean approvals and early
possession is far better than a “branded” pre-launch that’s all promise and no delivery. The power to keep real estate prices rational lies with buyers, not just developers.
If consumers start demanding data transparency, evaluating based on fundamentals, and resisting
hype-driven
launches, the market will correct itself faster than any policy change can manage.
So before you book your next home — take a step back, check the numbers, and make sure you’re not
driving up
the prices for yourself.
Final Word: Don’t Drive Prices Against Yourself