Group Buying on IREF – Food for Thought!! - Page 3 - Indian Real Estate Forum

Bobbydel · 18-01-12

Quote:

Originally Posted by rohaus

Bobbydel, you had a bad experience but one cannot simply write off the whole concept of group buying. At the end of the day, you will save money even if the main rep of the group gets away with a little more discount or some commissions.

I still feel that the group on the whole should've done DUE DELIGENCE in appointing a representative. After all, your group appointed him. And why did only one rep from the group meet the builder? Why didn't 2-3 members of the group accompany the rep in different meetings?

Just because no one wants to do the ground work? You guys want to save money without making an effort to do some running around. And then someone takes advantage of it. This can happen in any group settings if other group members take little or no interest. They simply agree to be a part of the group without making any effort themselves.

All of us met the builder together but he had separate meetings we came to know of later. Dont expect people to watch someone 24x7 !

Bobbydel · 18-01-12

Quote:

Originally Posted by vatsalbajpai

Had he told you before the deal about the commission part would you have
gone ahead with him ...i think not ..and he would have branded a "chor" (in ur words) before the deal only...
When will people realize that there are no free lunches and behave accordingly...

COMPLETELY DISAGREED. i have different views : A friend comes to you saying a neighbour is selling his flat and its a good buy, you go for the deal and come to know by chance that your friend did it only for getting a comission. You wil
Feel cheated. Your friend loses his respect in your eyes.

Another case : a broker from neighbourhood comes and says someone is selling a flat and its a good deal. If deal is suitable and you want to buy, you will buy and pay him his comission. He has earned it respectfully, he deserves it. Like everyone else a broker is doing his job and there is nothing wrong in this.

Hope you understand the difference between the two. Someone coming to you talking of group buying just to get a comission out of your money and pretending to not get any comission is a chor.

Bobbydel · 18-01-12

Quote:

Originally Posted by vatsalbajpai

Had he told you before the deal about the commission part would you have
gone ahead with him ...i think not ..and he would have branded a "chor" (in ur words) before the deal only...
When will people realize that there are no free lunches and behave accordingly...

You said there are no free lunches : let me explain this : you are on a highway at midnight and your car brakes down. You get a lift from someone in another car , he drops you home and you offer him money, he says no bhaisaab i have done my duty only. Then you realize later he stole your wallet, when you go to meet him to ask why then he says : when will people understand there are no free lunches ? I gave you lift so i stole your wallet. THIS IS LIKE THE GROUP BOOKING GUY ACTIVE ON THIS FORUM or ELSEWHERE WHO PRETENDS TO BE A FRIEND.

Now another option : a taxiwala stops to help you and says he will charge 500 Rs to drop you, you agree and you are dropped gracefully with a dropping fee. This is the case of a professional broker who charges money and who deserves it as he is doing his job.

Hope things are clearer now ...

Indomura · 18-01-12

Quote:

Originally Posted by Bobbydel

You said there are no free lunches : let me explain this : you are on a highway at midnight and your car brakes down. You get a lift from someone in another car , he drops you home and you offer him money, he says no bhaisaab i have done my duty only. Then you realize later he stole your wallet, when you go to meet him to ask why then he says : when will people understand there are no free lunches ? I gave you lift so i stole your wallet. THIS IS LIKE THE GROUP BOOKING GUY ACTIVE ON THIS FORUM or ELSEWHERE WHO PRETENDS TO BE A FRIEND.

Now another option : a taxiwala stops to help you and says he will charge 500 Rs to drop you, you agree and you are dropped gracefully with a dropping fee. This is the case of a professional broker who charges money and who deserves it as he is doing his job.

Broker or friend as long as I think I am happy with my buy and deal its ok with me ....... I understand the people feeling hurt since initially you took that a person is doing a favour on you and ;ater it turns out that actually he / she was doing a business deal ..... Even I hate people lying and when they dont require to do so but then thats what they are .......

Anyway I was just here that I and one more friend of mine are planning to make some investment on Expressway. I already have one booking but want to make some investments in gud projects , delivery may be slow no issues . So any group formation / even for that matter Brokers Dealers may contact me . For Groups especially we will not be able to do much ground work since we are not in India but max pass on our bookings or try to get some more from our friends to negotiate better on bulk buys.

Honestly dont mind if the other members in group who do running around get some extra benifit as long as we too get a gud deal though since ourself hate to tell lies or hide things so will be best if told abt it beforehand since honestly even we are making the investment to make some extra bucks though at the same time do not mind having the property for self use if its gud...

Please PM for anything on Expressway or any other Good projects...

Hope things are clearer now ...

Broker or friend as long as I think I am happy with my buy and deal its ok with me ....... I understand the people feeling hurt since initially you took that a person is doing a favour on you and ;ater it turns out that actually he / she was doing a business deal ..... Even I hate people lying and when they dont require to do so but then thats what they are .......

Anyway I was just here that I and one more friend of mine are planning to make some investment on Expressway. I already have one booking but want to make some investments in gud projects , delivery may be slow no issues . So any group formation / even for that matter Brokers Dealers may contact me . For Groups especially we will not be able to do much ground work since we are not in India but max pass on our bookings or try to get some more from our friends to negotiate better on bulk buys.

Honestly dont mind if the other members in group who do running around get some extra benifit as long as we too get a gud deal though since ourself hate to tell lies or hide things so will be best if told abt it beforehand since honestly even we are making the investment to make some extra bucks though at the same time do not mind having the property for self use if its gud...

Please PM for anything on Expressway or any other Good projects...

Hope things are clearer now ...[/QUOTE]

gharondabhai · 18-01-12

Let me share a true event that is still playing.

My mama along with 7 other teachers formed a group and managed to get an allotment. Each member had to come up with less than 2L for the land around 5-7 years back. Initially they were allotted in a so so area but due to some issue at authority side, they were transferred to a very very prime location... and sarkari kam .. no additional money.

Out of the 8 people, only 2 people were actively running around, 4 people were seedha saadha bhole bhale aadmi and remaining two are the spoil sports. Once the land has been allotted, whether you like or not, you have to go ahead with all the members, all are equal share holders.

It took almost 4+ years to decide on building, lottery, funding, approval and all those stuff .. again those two people only. The other two people always has doubt, why the other two are taking so much of interest? zaroor daal mein kuch kaala hain!! Interestingly, the other 4 people sings the tune as per the side they are with.

The estimated construction cost per member was 12L, which was increased to 20L

So, each member will get a spacious 1400 sqft flat (yes, all carpet area only) with 1 basement car park at 22L. The market rate of that flat is more than 1c now.

Few members already sold their share in 35L. Just share, you pay another 20L and get a 1c flat.

The flat is still under construction as the two active member were accused so many times that they lost interest. the 4 people are good for nothing and the remaining 2 people can play only negative role. Hopefully the flat will be ready in another 1 year time.

It is very very cost effective but you need complete trust or I would say blind trust.

zohaib2012 · 18-01-12

If you have a Group of 5-6 Buyers...Another alternative is to:

Buy a Plot and get various floors made...

You get best price...select your own location....far better maintenance....Best construction...and a like minded smalll community liviing.

Why give benefits to a builder...who may delay your project, give poor consturction, and believe me..High density flats stand a Huge chance of having maintenance issues

rohaus · 19-01-12

Quote:

Originally Posted by zohaib2012

If you have a Group of 5-6 Buyers...Another alternative is to:

Buy a Plot and get various floors made...

You get best price...select your own location....far better maintenance....Best construction...and a like minded smalll community liviing.

Why give benefits to a builder...who may delay your project, give poor consturction, and believe me..High density flats stand a Huge chance of having maintenance issues

That is taking one step further than a 'typical' group buying concept. It's group buying for business, a long term proposition.

Nice idea. But these people coming together are total strangers and there would be so many other issues involved.

Someone like you, who has a lot of RE knowledge and probably contacts could pull it off but its not everyone's cup of tea.

rohaus · 20-01-12

Quote:

New Group Buying Forum!

Kya baat hai phases bhai.

My suggestions were taken so seriously.

Wow!

GREAT JOB GUYS!!!

finstar · 03-02-12

Very well said.. democracy never works. .. i have also seen many situations like these.. therefore i doubt that people can get together on their own and form groups. This makes me think of three options:

1. Go to a broker and get he booking done together and negotiate for the best discount for each member.
2. Group buying websites: They combine individuals with each other to form a group and get a better deal than a normal brokers. And of course if they are doing this service then they need to earn something for this initiative. The members should be happy as long as they are getting a better deal than a broker, no matter what the website is earning!
3. Appoint a group leader among the members and negotiate directly with the builder: Either there should be one leader, whom everyone trusts or give absolute powers to act on behalf of the group, so that he can freely take actions on behalf of the group!

Would welcome suggestions so that we can further refine these alternatives!

Finstar

Quote:

Originally Posted by gharondabhai

Let me share a true event that is still playing.

My mama along with 7 other teachers formed a group and managed to get an allotment. Each member had to come up with less than 2L for the land around 5-7 years back. Initially they were allotted in a so so area but due to some issue at authority side, they were transferred to a very very prime location... and sarkari kam .. no additional money.

Out of the 8 people, only 2 people were actively running around, 4 people were seedha saadha bhole bhale aadmi and remaining two are the spoil sports. Once the land has been allotted, whether you like or not, you have to go ahead with all the members, all are equal share holders.

It took almost 4+ years to decide on building, lottery, funding, approval and all those stuff .. again those two people only. The other two people always has doubt, why the other two are taking so much of interest? zaroor daal mein kuch kaala hain!! Interestingly, the other 4 people sings the tune as per the side they are with.

The estimated construction cost per member was 12L, which was increased to 20L

So, each member will get a spacious 1400 sqft flat (yes, all carpet area only) with 1 basement car park at 22L. The market rate of that flat is more than 1c now.

Few members already sold their share in 35L. Just share, you pay another 20L and get a 1c flat.

The flat is still under construction as the two active member were accused so many times that they lost interest. the 4 people are good for nothing and the remaining 2 people can play only negative role. Hopefully the flat will be ready in another 1 year time.

It is very very cost effective but you need complete trust or I would say blind trust.

rameshyahoo · 06-02-12

i suggest another forum to exchange houses as well. In this world I am sure there are many folks who relocate and would use this forum.

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18-01-12	#25
gharondabhai Veteran Member Join Date: Nov 2010 Posts: 2,270 My Mood: Thanks: 72 Thanked 274 Times in 173 Posts	Let me share a true event that is still playing. My mama along with 7 other teachers formed a group and managed to get an allotment. Each member had to come up with less than 2L for the land around 5-7 years back. Initially they were allotted in a so so area but due to some issue at authority side, they were transferred to a very very prime location... and sarkari kam .. no additional money. Out of the 8 people, only 2 people were actively running around, 4 people were seedha saadha bhole bhale aadmi and remaining two are the spoil sports. Once the land has been allotted, whether you like or not, you have to go ahead with all the members, all are equal share holders. It took almost 4+ years to decide on building, lottery, funding, approval and all those stuff .. again those two people only. The other two people always has doubt, why the other two are taking so much of interest? zaroor daal mein kuch kaala hain!! Interestingly, the other 4 people sings the tune as per the side they are with. The estimated construction cost per member was 12L, which was increased to 20L So, each member will get a spacious 1400 sqft flat (yes, all carpet area only) with 1 basement car park at 22L. The market rate of that flat is more than 1c now. Few members already sold their share in 35L. Just share, you pay another 20L and get a 1c flat. The flat is still under construction as the two active member were accused so many times that they lost interest. the 4 people are good for nothing and the remaining 2 people can play only negative role. Hopefully the flat will be ready in another 1 year time. It is very very cost effective but you need complete trust or I would say blind trust.

18-01-12	#26
zohaib2012 Member Join Date: Aug 2010 Posts: 4,078 My Mood: Thanks: 0 Thanked 596 Times in 269 Posts	If you have a Group of 5-6 Buyers...Another alternative is to: Buy a Plot and get various floors made... You get best price...select your own location....far better maintenance....Best construction...and a like minded smalll community liviing. Why give benefits to a builder...who may delay your project, give poor consturction, and believe me..High density flats stand a Huge chance of having maintenance issues

06-02-12	#30
rameshyahoo Member Join Date: Jun 2010 Posts: 244 Thanks: 1 Thanked 3 Times in 3 Posts	i suggest another forum to exchange houses as well. In this world I am sure there are many folks who relocate and would use this forum.