Sansei

Pl c the article by some mittalin TOI.

]http://ravikarandeekarsblog..com/2009/08/few-good-words-about-pune-builders-and.html[/URL]

Kinda c mindless and traversing of brains.

Who has the good relations with bldrs nowadays except netas.

Where the authors want to take and what she wants to put fwd.

I have posted abt newspaper in earlier post, just throw in bin, useless.

realacres

Right Sansei.
Add to it poor monsoons & it's ill efects of the economy. The people are earning less, getting laid off & due to poor monsoons, the cost of living will go up means people will spend less which means no auto, holidays etc. let alone RE. A neigbor of mine lost his Audi Q7 last week & has been compensated with a humble Innova by the company. Many are losing their Black-berries too. No first class travel, for short distances it is now trains than flights. For long distances, it is video conferencing.

Had to attend a seminar last week at The Le-Meridian, which was later shifted to a hotel at Vimannagar due to swine flu. Didn't attend due to swine flu & seminar had many western people which made it more risky in current scenario but the delagates who came from US insisted that we meet them. However could not do so as they had a flight at 1600Hrs. Earlier, never these things used to happen where the other party used to be so desperate.

The situation is very bad, & has become worse due to poor monsoons. In all these bad news, the only good news is that the RE rates will crash even harder. Those looking at Kharadi may get one at Kalyaninagar, or atleast Vimannagar now. Baner will see rates of Wakad. I would personally keep the budget same & shift to more better locality now.

Sansei

I m 2 looking at central areas.

wiseman

Realacres (and other folks as well),

In the last decade or so, much of corporate India has adopted some of the most unviable practices of the US corporate zone. One of the most offensive ones is the belief that their CEOs are worth 100s of million of $$$ even as the company (which might be 100s of yearsold) goes bankrupt on this CEOs watch!!! And as part of his package, the CEO feels entitled to the Audi A8s, etc, which is the main reason the business gets unviable!

I had an interesting conversation with my brother (who runs his own manufacturing facility quite profitability) who told me that he would rather earn the profits first before spending it, as opposed to today's popular model of spending the money first before earning it (the VC/public funded model which motivates such profligate spending such as a Q7 where an Innova was what the business could afford)

This is at the core of today's economic disaster facing all of us. We fell so far into that Western trap of indebtedness (anyone whose father above 60 years having a credit card?) that we even started spending beyond our means in taking high-interest loans to go for these foreign cruises!!!

When people take on these habits, it becomes very hard coming down from these levels, when reality strikes and they are forced o do so. The wives, children, neighbours, friends, relatives, .... all of them start passing snide remarks which adds to the woes of the once-high-profile executives who never earned these perks in the first place, but merely rode the wave of misplaced credit expansion.

That brings me to the point. This general decline in the World's economies will continue so long as the effects of this unviable credit expansion continues to exist. So long as the 1C flat (which was bought at 25L in 2003) does not decline to its realistic price of 35-40L, implosion will continue, sales will be sluggish and prices will decline in waves as people give up in waves and do distress sales.

from the late 1990s I have seen many people go directly from Maruti 800 to Honda CRVs and higher vehicles, simply because a bank would come and offer ridiculous amounts as loans. These people may have been labeled executives, but in reality should have been fired because they did not have the maturity and risk-averseness to see that this uncontrolled bingeing on loans was similar to a child being overwhelmed with toys all of a sudden. They went berserk. And to imagine that companies entrusted these very same financially immature characters with millions of $$$ of their business to take care off!

As Charles "chuck" Prince, CEO of Citigroup before he was fired and replaced with our very own Vikram Pandit (his underground nickname is reputed to be 'Pandit the Bandit'!), said about this credit binge, ... "so long as the music is playing, we will keep dancing". To which he was asked, what when it stops? Well, as we know, when it stopped (and the crash began) he was fired in a single day!!!

You now see the results playing out further still. We may still have not seen the final bottom of this crash and therefore people ust exercise caution in rushing in to buy highly leveraged assets, when there is still chance of it going and staying down for years to come! ... Enjoy!

cheers

Sansei

Last Sat there was inauguration of handing over of affordable houses to poor people by Ajit Pawar in PCMC area in presence.

Abt 1000 houses are planned for allotment by next yr. The batch have been made ready in time before election.

Another article:

]http://propertybytes./index.php/newsbytes/the-tier-ii-and-iii-real-estate-story[/URL]

caprimannu

I don't intend to say that all that you quoted is incorrect... but what is incorrect is that these low prices don't hold today. They were this low some 3 months ago.
and in your other post where Baner plot is being sold for 900/- ... well that may be an isolated case ... Prices in Baner have reached a level where they have a good support and less probability of falling through.

_Maneesh_

realacres

Just for a change an interesting news:-

http://www.livemint.com/2009/08/1721...ic-CSE-re.html

realacres

So do you now conclude that RE prices are rising? Btw, the prices are for the month of July 09 & few of them of last week.

dipitvn

Realacres, we are trying hard to book a flat soon for own use.
I have tried negotiating for most of the projects being discussed above, but I'm not able to negotiate anywhere close to the rates you have quoted Are these rate that you have been offered or have you gatehred this info from sources?

dipitvn

Realacres, we are trying hard to book a flat soon.