10 % discount on Downpayment !!!!! - Indian Real Estate Forum

Askhay · 22-06-09

Hi
We know that real estate is well hit by the recession. At this time we should expect cheap projects floating around. But when I discussed with property dealers in India they say the 15% discount to downpayment has been reduced to 10 % ? What dose that mean realestate market has improved ??

vaibhav_arora · 24-06-09

Hi Akshay

You can negotiate on this - but please consider if you would like to go for DP at all. The real risk in real estate is the risk of execution and non-delivery. You can minimize your risk through opting for construction or time linked plans. If the builder doesnt construct he doesnt get paid by your bank. If multiple consumers go for downpayment (say >90%) chances of project getting stuck are high (e.g. DLF New Town Heights in Manesar)

No, fundamentally nothing has changed - yet there is a subtle attempt on behalf of builders and brokers to revive the market through creeping price increase (50-100 / sq ft per month now).

Also, the only way they will negotiate is when you sit across the table with your chequebook in hand.

Remember - you dont have to write that cheque - just show it

good luck!

22-06-09	#1
Askhay New Member Join Date: Apr 2009 Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts	10 % discount on Downpayment !!!!! Hi We know that real estate is well hit by the recession. At this time we should expect cheap projects floating around. But when I discussed with property dealers in India they say the 15% discount to downpayment has been reduced to 10 % ? What dose that mean realestate market has improved ??

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24-06-09	#2
vaibhav_arora Member Join Date: Jan 2009 Posts: 155 Thanks: 2 Thanked 0 Times in 0 Posts	Hi Akshay You can negotiate on this - but please consider if you would like to go for DP at all. The real risk in real estate is the risk of execution and non-delivery. You can minimize your risk through opting for construction or time linked plans. If the builder doesnt construct he doesnt get paid by your bank. If multiple consumers go for downpayment (say >90%) chances of project getting stuck are high (e.g. DLF New Town Heights in Manesar) No, fundamentally nothing has changed - yet there is a subtle attempt on behalf of builders and brokers to revive the market through creeping price increase (50-100 / sq ft per month now). Also, the only way they will negotiate is when you sit across the table with your chequebook in hand. Remember - you dont have to write that cheque - just show it good luck!