Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - What is really happening in World Economy?

Srinidhi · 17-07-10

Thank You Economist for your comments .

This is my stand :

I am going to forget chennai and other metros for some time especially 50L+ properties .I don't think these 50L+ properties will get double in 5 or even in 10 years , since income - EMI ratio doesn't match .Builders are playing tricks to keep the prices of these kind of properties since their profit is very huge on this segment.It is going to get a very big hit in short to medium term , it may take even some years based on how G20 is reacting for this GFC .I am an NRI and I am looking for some decent plot / house which I need only when I return to India , Basically I am from southern part ,even In my home town RE went up multiple times , but still in the range of affordable level to the people who lives there , our home town is mainly driven by govt employees / local people who spend less and save more .You can still buy plot for 1 or 3 lakhs per ground in outer areas (inside the town they are quoting 20L - 30l per ground which doesn't make sense to me).Now a days any one can afford 1-3 laks rupess which I feel is the great investment(since we don't have any other better option) for this time and give good return during these inflationary times as Economist said because we have enough space for appreciation .And also we don't need to go for loan for these kind of amounts.I have already invested a lot in my home town during 2000- 2006 and the prices went up multiple times , even if it doesn't make sense , I personally happy about that .I am still waiting with some good amount of cash to buy 50L+ property in chennai which is only for living purpose which I am personally feel is going to take a big hit , because no one can justify this price level , it is really un affordable to any one , tell me who can buy a plot / house for 60 - 75 lakhs with cash / loan during this GFC (may be businessmen,doctors and politician and whoelse?) ,
I am planning to wait with Cash as wiseman said for atleast next two years , if nothing got changed , I will go and buy my home town 1-3 lakhs properties (may be for 4-5 lakhs after 2 years) and get into the RE bus .I am pretty sure RE won't go anywhere atleast for next 2 years .
Please feel free to correct me If I am missing anything .

17-07-10	#11
Srinidhi Member Join Date: Nov 2009 Posts: 52 My Mood: Thanks: 6 Thanked 0 Times in 0 Posts	RE won't go anywhere Thank You Economist for your comments . This is my stand : I am going to forget chennai and other metros for some time especially 50L+ properties .I don't think these 50L+ properties will get double in 5 or even in 10 years , since income - EMI ratio doesn't match .Builders are playing tricks to keep the prices of these kind of properties since their profit is very huge on this segment.It is going to get a very big hit in short to medium term , it may take even some years based on how G20 is reacting for this GFC .I am an NRI and I am looking for some decent plot / house which I need only when I return to India , Basically I am from southern part ,even In my home town RE went up multiple times , but still in the range of affordable level to the people who lives there , our home town is mainly driven by govt employees / local people who spend less and save more .You can still buy plot for 1 or 3 lakhs per ground in outer areas (inside the town they are quoting 20L - 30l per ground which doesn't make sense to me).Now a days any one can afford 1-3 laks rupess which I feel is the great investment(since we don't have any other better option) for this time and give good return during these inflationary times as Economist said because we have enough space for appreciation .And also we don't need to go for loan for these kind of amounts.I have already invested a lot in my home town during 2000- 2006 and the prices went up multiple times , even if it doesn't make sense , I personally happy about that .I am still waiting with some good amount of cash to buy 50L+ property in chennai which is only for living purpose which I am personally feel is going to take a big hit , because no one can justify this price level , it is really un affordable to any one , tell me who can buy a plot / house for 60 - 75 lakhs with cash / loan during this GFC (may be businessmen,doctors and politician and whoelse?) , I am planning to wait with Cash as wiseman said for atleast next two years , if nothing got changed , I will go and buy my home town 1-3 lakhs properties (may be for 4-5 lakhs after 2 years) and get into the RE bus .I am pretty sure RE won't go anywhere atleast for next 2 years . Please feel free to correct me If I am missing anything . Last edited by Srinidhi; 17-07-10 at 09:37 AM.