aditi sharma

Kharadi an upmarket area ?

Navina

I never found these rates at Wanowrie. Lowest was 3300 and that too at the fag end of Wanowrie up the hill.

realacres

2500-2900/sq ft. You need to sit with the seller. Nothing is done on fone.

realacres

]http://economictimes.indiatimes.com/markets/real-estate/news-/Realty-developers-tall-claims-fail-to-impress-buyers/articleshow/5095684.cms[/url]

Btw, few people are now canceling their bookings at Paranjapes Blueridge due to financial implications. In this process, they tend to loose INR 2.5L+the interest paid till date. Think about this.
BR is charging INR 1L as penalty & one has to forego the SD+reg amount too.

realacres

Just for change, taking break from RE a bit, have a look at +ve sides of Mumbai. Nice pics.

http://www.funonthenet.in/content/view/390/56/

hitmady

Unbelievable pics. Mostly upmkt and new areas of Mumbai.

realacres

Very good article of delays of projects & builders apathy. What's more, flats priced at INR 4Cr are down to INR 79L, yet no buyers & hence no work. Sufferers:- Buyers who booked here. Though this news is from Delhi-NCR, it has striking similarities with Pune RE.

Good info & eye opener for many.

]http://epaper.indianexpress.com/IE/IEH/2009/10/10/Article//019/10_10_2009_019_012.jpg[/URL]

realacres

Good to see realtors getting hammered. Read on:-

]http://www.dnaindia.com/money/report_realtors-feel-debt-vice-tightening_1297852[/URL]

wiseman

The Builders are out on a thin limb. The estimated debt currently held by this segment is in the range of 70000-90000 Crores (depending on various reports). Through QIP they have raised around 11000 Crores (around 16% only). But even with QIPs it was hard not to let go of a significant amount of equity.

The only option now for Builders is to con the investing public by coming in for huge public issues at ridiculous premiums while keeping the markets high so that investors really feel these premiums are justified. Take the case of Unitech conning the Norwegian company of 6000 crores for a controlling stake in their telecom licence. Now they figure that market is getting hyper-competitive, new connections rate is slowing down and market is maturing rapidly. So, the Norwegians are already talking of brealing even only after 7 years!!!

1992 saw the Harshad scam. 2000 was Ketan scam. 2008-09 will be the Builder scam combined with the Reliance/Ambani scams (today RelComm was reported to have extensively cooked its books and Mukesh is well known for taking lucrative contracts into his private companies and milking the public ones for 10s of thousands of crores!).

Deepak Parekh was correct. This is a very high stakes game being played by the builders. A single high-profile PO crashing and the who industry is toast. Alternately, market falling significantly will also sound bankruptcy to many of them. Third is, if the Regulatory Bill is passed and there is strict policy about disclosure, advertising, marketing, etc.

At this rate it might be better to wait and watch when the builders will buckle under and come to market with much more realistic prices and not just low quality housing!

cheers

veeemkay

Thanks Real.

The article says it is eighth in this weekly series by Indian Express.. It would be nice if someone could give links to all eight and the additional ones to follow.

VK