Hold off your RE purchases .. now is the real deal - Indian Real Estate Forum

Kimmig · 27-12-08

Looking at the scenario currently, it looks like the builder lobby in cahoots with the press are desparate to trap the last few buyers at these pumped up rates.

Properties in Ghodbunder Road in Thane are being sold at Rs.3000/ sq ft portraying a discount from Rs.4000/ sqft. Full page ads in TOI are exhorting buyers to take advantage of this .. I hopes any buyers on the verge of falling for this ploy realise that flats were available for Rs 4000 / sq ft in premium areas like Lokhandwala complex just a few years ago .. ghodbunder road is a far cry .. we have waited this log .. wait a few more days . hold off your purchases .. rates which have been pumped for the last 3-4 years won't come down overnight regardless of what people tell you

ghans_12 · 29-12-08

Are you talking about Lodha Univis ?

I ama NRI and I am keeping a eye on this property. I spoke with some agents and also to the lodha people.
They had quoted me around 3600 + Rs 36 floor rise. This rate was at pre launch.

The total cost of the flat was 63,87,272. On first floor. This included all the taxes and misc. expenses.

They are now giving a adv for Rs2997. I think, the rates will come down to Rs2,000 per Sq.feet.

Disclaimer:- This is just my suggestion and I am not a property expert.
I think, we should hold back on any purchase for another 3-4 months.

kimerton · 29-12-08

property prices are falling only whr they rose too steeply.. for eg the rate at goregaon east is around 6000. but oberoi is currently charging 11000!! even if the rates come down to 8000, the houses are still pretty unaffordable.. media is splashing news about 30ercent rate cuts.. but the fact remains that that much cut is in areas like southmumbai whr builders have come down frm 60000 to 40000.. :P

ghans_12 · 30-12-08

I am sorry, but I don't agree with your statement.

If, there is a downward trend due to economy and thanks to media, common people will expect the rates to cut, irrespective of the location.

I remember, in 2004 the rates at Godbhunder was approx - 1400-1600.
Today, they are asking for 3000-4000? I don't think, that is a right price.

A common man, in Mumbai, travels by train and bus, it takes a long long time for him to reach to Thane station and from there another 1 hour train journey to mumbai CST. Why would he like to burden himself, with such a painful journey?

What is so special, at Godbhunder Road, that they should be charged at 3000-4000? I think, this is because of the Builders and Media, now since, the correction has started, we need to wait and watch to see the prices crash...

27-12-08	#1
Kimmig Member Join Date: Dec 2008 Posts: 85 Thanks: 0 Thanked 1 Time in 1 Post	Hold off your RE purchases .. now is the real deal Looking at the scenario currently, it looks like the builder lobby in cahoots with the press are desparate to trap the last few buyers at these pumped up rates. Properties in Ghodbunder Road in Thane are being sold at Rs.3000/ sq ft portraying a discount from Rs.4000/ sqft. Full page ads in TOI are exhorting buyers to take advantage of this .. I hopes any buyers on the verge of falling for this ploy realise that flats were available for Rs 4000 / sq ft in premium areas like Lokhandwala complex just a few years ago .. ghodbunder road is a far cry .. we have waited this log .. wait a few more days . hold off your purchases .. rates which have been pumped for the last 3-4 years won't come down overnight regardless of what people tell you Last edited by Kimmig; 30-01-09 at 10:22 AM. Reason: Spelling

29-12-08	#2
ghans_12 New Member Join Date: Nov 2008 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	Are you talking lodha univis Are you talking about Lodha Univis ? I ama NRI and I am keeping a eye on this property. I spoke with some agents and also to the lodha people. They had quoted me around 3600 + Rs 36 floor rise. This rate was at pre launch. The total cost of the flat was 63,87,272. On first floor. This included all the taxes and misc. expenses. They are now giving a adv for Rs2997. I think, the rates will come down to Rs2,000 per Sq.feet. Disclaimer:- This is just my suggestion and I am not a property expert. I think, we should hold back on any purchase for another 3-4 months.

29-12-08	#3
kimerton New Member Join Date: Dec 2008 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	prices property prices are falling only whr they rose too steeply.. for eg the rate at goregaon east is around 6000. but oberoi is currently charging 11000!! even if the rates come down to 8000, the houses are still pretty unaffordable.. media is splashing news about 30ercent rate cuts.. but the fact remains that that much cut is in areas like southmumbai whr builders have come down frm 60000 to 40000.. :P

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30-12-08	#4
ghans_12 New Member Join Date: Nov 2008 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	I am sorry, but I don't agree with your statement. If, there is a downward trend due to economy and thanks to media, common people will expect the rates to cut, irrespective of the location. I remember, in 2004 the rates at Godbhunder was approx - 1400-1600. Today, they are asking for 3000-4000? I don't think, that is a right price. A common man, in Mumbai, travels by train and bus, it takes a long long time for him to reach to Thane station and from there another 1 hour train journey to mumbai CST. Why would he like to burden himself, with such a painful journey? What is so special, at Godbhunder Road, that they should be charged at 3000-4000? I think, this is because of the Builders and Media, now since, the correction has started, we need to wait and watch to see the prices crash...