Check this link about how big developers are canceling their SEZ approved plans. What does it mean that there is less demand now and all IT companies are expecting less growth in future too. This means less rich IT employees to buy residential.
I think it is a good news for everyone. Those who are in IT and not able to afford and those who are not in IT.
And for those of you who think home prices never goes down, here is the home price trend in Florida from www.zillow.com showing median home prices in Florida. 2009 Prices are below 2005 :)
How is your company doing? Are you purchasing home in Pune? DLF and Unitech decreased their rate this year by 40%. I know they are not in Pune but Pune has grown mostly due to IT. Are you getting similar price cut from your builder? If not, are you still purchasing?