Q. Are property prices in Mumbai likely to come down? 

There is no likelihood of property rates in Mumbai coming down. The demand is huge and the supply nowhere matches it. It is a seller's market and will remain one - at least in the short-to-mid term.

Q. I want to buy a house in National capital region (NCR). I am living in rented accommodation. I have heard of crossings infrastructure in Ghaziabad. Should I invest there or not? Kindly suggest. 

Property rates in Ghaziabad have more than doubled over the last two years (close to 130%) and it is definitely a worthwhile investment destination, especially considering the fact that East Delhi is no longer a viable option in most cases. Investing in a residential property in Ghaziabad and nearby Indrapuram makes good sense because there is a spill over demand from Delhi.

Q. I am going to buy a flat in HSIDC employees cooperative group housing society named Jubli in Gurgaon. In this society, no bank is ready to finance. Kindly let me know whether is this society registered or not? What are the documents that I should check from the seller of that flat of this society? Can this flat be transferred to my name or no? 

We have no information on this project. However, in any property transaction, you must verify the interest and title of the seller of the property, and also crosscheck the veracity of the title documents with the authorities concerned. If no bank is ready to finance this purchase, there are bound to be legal reasons for this. Do not enter this transaction without conducting an extensive due diligence.

Q. I am living in Ghaziabad since last three years. I am planning to buy a new flat in the same locality where I am living. In last one year, property price has just doubled. However, there has not been any development in the infrastructure and now even the power, water supply is worsening. The public transport facility is poor and there is lack of daily needs shops. There is no reason for price to double in last one year. Can you please tell me reasons of this price increase?  

There is admittedly no immediately tangible reason for this increase. Rather, it is precipitated by the promise of infrastructural enhancements catalysed by the Commonwealth Games in 2010. The Commonwealth Games village is being developed relatively close to national Highway 24 and this has affected the prices in Ghaziabad. You could say that present buyers are investing in future potential, not existing value.

Q. I am keen on buying a residential apartment in Pune, Viman Nagar/Kalyani Nagar area, but as rates have escalated by almost 70% in last 12 months or so, should I invest at prevailing rates or is there any chance of correction? Can you suggest few reputed builders with their website, constructing in these areas.

You have made an excellent choice in locations. Viman Nagar and Kalyani Nagar definitely have great potential due to the increase in IT /ITES activity there. However, there is no point in delaying this purchase. Prices in Pune will not go down in the next three to four months. To elaborate, Pune property rates are very area-specific - in some of these areas, prices will stabilize and in others they will go up. You are strongly advised to buy now. Business policy prevents us from naming specific projects or developers, but do ensure that you choose a project from a reputable developer.