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dishantdesai · 09-09-10

I must say this forum didnt get enough replies as it should be. The last reply was in March 2010 since then Price of properties have gone up sharply and without any base.

What could be reasons?
It is only made up price. There is no base in quoting price in 7 figures just because you have buyer/Investor at that price.

Do you think any person earning 4 to 10 lakhs per annum can afford anything above 50 Lakhs property NO. Even then it is consinder good salary. That means either price has been wrongly quoted or our salaries need major restructuring.

People have started realising that. Between March till now I have seen over 100s of New and Resale properties. I have also seen how the price has sharply gone up and did some research on it.

One builder I came across wasnt even ready to sell me property unless I make bulk booking. That means there are no real buyer out there its all investment like share market and it will take a month or two to crash this.

I have already started seeing signs of it. There is panic in the market and few investors have started taking their hands back which means new construction will remain empty so they have to cut down price. Once they cut down price, the investors who are already in there will start selling which will again reduce price further. I think up to Diwali is crucial month if any one wants to exit from real estate until price correction.

I met investor last weeks who has invested around 5 crore in real estate and now started selling because he has felt that panic in the market. It will only take few weeks before entire market crashes so please beware and get out of this mess as soon as possible. I hope this can be read by many or at least a reporter who can publish this.

09-09-10	#9
dishantdesai New Member Join Date: Sep 2010 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	Panic has started I must say this forum didnt get enough replies as it should be. The last reply was in March 2010 since then Price of properties have gone up sharply and without any base. What could be reasons? It is only made up price. There is no base in quoting price in 7 figures just because you have buyer/Investor at that price. Do you think any person earning 4 to 10 lakhs per annum can afford anything above 50 Lakhs property NO. Even then it is consinder good salary. That means either price has been wrongly quoted or our salaries need major restructuring. People have started realising that. Between March till now I have seen over 100s of New and Resale properties. I have also seen how the price has sharply gone up and did some research on it. One builder I came across wasnt even ready to sell me property unless I make bulk booking. That means there are no real buyer out there its all investment like share market and it will take a month or two to crash this. I have already started seeing signs of it. There is panic in the market and few investors have started taking their hands back which means new construction will remain empty so they have to cut down price. Once they cut down price, the investors who are already in there will start selling which will again reduce price further. I think up to Diwali is crucial month if any one wants to exit from real estate until price correction. I met investor last weeks who has invested around 5 crore in real estate and now started selling because he has felt that panic in the market. It will only take few weeks before entire market crashes so please beware and get out of this mess as soon as possible. I hope this can be read by many or at least a reporter who can publish this.