Quote:
Originally Posted by vijayc
I have been searching for a house - at the so called reduced rates. However, I find that the builders have only reduced the basic rate giving an illusion of cheap properties. However, all builders now have extras - development charges, preferred location charges, floor rise charges, 32 % loading and if that wasn't enough, there are full charges to pay (even after 32% laoding) for the flowere beds, lift area, common lobby, etc. Effectively, the ratio between charged area and carpet area ranges between 50% and 54%. So much wool over the government's eyes.  |
Greedy builder won't drop rates till they find some nervous-buyer (who is fearing rate will go up and he/she shud buy now). I made similar mistake, but then cancelled my booking. And today, price of that property is down by 20%.
My friend bought a flat in panvel 1 year back for 2900 psft.
The builder is now selling for 2300 psft!!!
I think this not the right time to buy house. And don't buy assuming rates will go up.
Buy only if:
1) You are sure of future earnings (job/business).
2) The property is affordable.