destMumbai

Again ????

Just read the following artical in todays economic times.
]http://economictimes.indiatimes.com/articleshow/5557062.cms[/URL]

"Residential property prices may rise by 10 per cent: Cushman"

I do not know how much is this true. But it seems that prices has not seen any bottom during downturn and i see the prices is going 10-20-30-40% up.

This is crazy. The only option i have is to continue renting

sqldba20

The Indian real estate is gone crazy. Don't know when it will tank down. I personally would stay away from this especially after reading the article from RBI the day before the 10% hike article was publised.

]http://economictimes.indiatimes.com/Markets/Real-Estate/Realty-Trends/Real-estate-Volume-play-may-be-the-only-recourse/articleshow/5554056.cms[/URL]

enduser

10%, 20%, 30%, 100%, 200%, .... Let it rise infinitely ....
because I am anyway NOT going to buy

boldm28

for the prices to go up . it had to go down . am i the only one who thinks the prices did not go down .. may be i was living behind a rock . I could have bought a flat in blue oasis for 5800/ sqft in 2008 but stayed away as the quality of construction was not that great .. now i see that same flat prices around 8000/sqft .. now they want to increase it . my simple calculation

if i have 50 lacs and can get 8% interest . then might as well rent

sanjaykg

To all you guys, my sincere advice would be to wait & watch, if things are not desperate at your end.

Prices can't go northwards all the times...

Remember, money saved is money earned.

All the parties who had major stake in RE (like Builder, Agents, politicians) will play this game of artificial shortage of RE, price hikes etc. We need to see our interest. Just relax and time will come when things will come down for sure.

__________________
Kind regards.

SKG

tubaibabu

This the game plan of the lobby of unholy nexus of builder, politician & media. For your information unslod property in Mumbai is 7.7 times the sale recorded in last three quater. The figure for Bangalore is 18.4 times. For most of metro the figure is in between 3 to 7.2 times. Recently RBI has denied deferment of outstanding load by banks to real estate furthur with out booking NPA what has been done in the previous fiscal. The outstanding loan is Rs.90000 Crores.
So if people are united and take a othe not to buy property unless its come down to 50% of the present value, i can assure you that within a year you will be able to see the quoting at 50% of present value if not less.

geeee

50% of present prices in Mumbai is just not possible. Maybe a few guys won't buy at present prices but, there are a lot of people who bought about 5-6 yers ago and before that and they have seen tremendous appreciation in their property value. There is a huge wealth effect associated with that and those people are more than happy to buy bigger homes or second/third homes at current prices. I think in 2008 when HDIL etc. were selling flats in their Versova project for about 8k, that was pretty affordable and pretty much as low as it could get. Those who didn't buy then really missed the boat and if property prices fall again to about the same levels, most of them would rush to buy. So, even if property prices fall, I doubt they would fall 50%.

sattebaaz

That is true. I remember being quoted 7.5k by HDIL but I walked away, not because of price but because of execution risk
At the same time, I thought nearby properties will also fall accordingly. However, will hold out from buying one now.
Two wrongs don't make a right