nileshdias

Guys,

What is your opinion of DB Realty's Orchid Suburbia in Kandivali W? Completion date is 2011 and rate is 5500 psf. A 2 BHK is approx 48L and 3 BHK 71L

The project was announced in late 2008 - have the prices fallen since?

Thanks,
Nilesh

amit_2009

paying anything more than rs 4000/- even in the best of kandivili locations is plain stupid. The builders already know that.

Since the project is under construction, see if you can get prices in between 3500-4000/psft.... provided they do provide the luxury addons that they have advertised... or else hold on for atleast 6 to 9 months..

shishir18

Hi,

I have checked the rates today and I was told 5800 psf. I am in touch with them from Jan and it was 5600 that time. Are you sure of 5500??? I am seriously thinking this project.

Amit how do you know about 4000 rs in kandivali? Is there any reference? Since Diwali everyone said about rate reduction but didnt happened much. RNA park next to Orchid was going 6500+.

let me know if you have more info.
regards

nileshdias

I was in conversation with an agent and he quoted 5800 psf to me 2 weeks back. I was not convinced and decided to wait. The rate had gone up to 6000 psf. I decided to go ahead with the deal and the agent came back saying the builder is asking for 6300/- now! I pulled out.

Kimmig

Folks .. when will we learn .. this is just reverse psychology .. soon the agent will call you with a price of 6000 and you will bite thinking it to be a bargain from 6300

My advise to all .. please stop visiting these estate agents and builders for six months .. only then will the rates go down .. peek into the psyche of the builders .. they had a pretty good thing going making 500-600% margins .. do you htink they will give up so easily?? every single visit to the site tells the builder that there is demand in the market that he can convert in to a sale .. and then we all come back frustrated that the rates are not falling and crib on these forums .. how will the rates fall if we keep going back?? what is the incentive for the builder lobby to reduce rates when there are people knocking on his door day in and day out??
Have some common sense people .. either stop going to the builder or just pay up and shut up (and enslave yourself the rest of your lives to pay off these EMIs) .. your fence sitting is just making things difficult for the rest of us.

Btw .. just to share a data point .. Apartments in Mumbai, Delhi are much more expensive that those even in London and NewYork; and our incomes are nowhere close .. 200K USD will get you a more than decent 3 bedroom co-op in the US .. try getting something similar for Rs.1 Cr in Mumbai or Delhi .. you'd be surprised how far you would land up in


Btw .. Nileshdias .. nothing personal

makaan99

how long it's worth waiting? post election ressults sentiments have changed again (partially reflected in sen and foreign inflows)

amit_2009

propert markets are cyclical in nature... generally 5 to 8 years in periodicity, based on all the previous cycles the best rates would be available around 2011 to 2012... you will be surprised to see that even at current valuations the builders have 300% to 500% profit margins!!