IREF® Real Estate in India - Property Discussion
Revert to old theme

Download our app now !

Reply
1818Likes

For Price Watchers, Price Trackers & Future Researchers
December 27 2012 , 03:22 PM   #991
New Member

kriti rana's Avatar
 
Join Date: Dec 2012
Posts: 2
Likes Received: 0

Hi Mr.Ravi, Can you please help with some details on krishna shelton.
December 28 2012 , 03:57 AM   #992
New Member

roshanIrf's Avatar
 
Join Date: Dec 2012
Posts: 1
Likes Received: 2

Doesnt it seem so obvious? Such a highly informed agent/broker had to resort to the use of this forum to earn his daily bread (commission). Shows how bleak is the buying market out there. I also saw posts by salespersons of aratt builders here in another topic. The builders and sales guys and agents have no where to go and trying to trap customers through this forum.

Keep liquidity and just wait for it! You can buy your dream home without sitting on crore(s) of loan!
mymarji and professor63 like this.
January 4 2013 , 11:57 AM   #993
Member

gkannan16's Avatar
 
Join Date: Aug 2012
Posts: 117
Likes Received: 65
My Mood: Amused

This is another example....

Infosys cutting up to 5,000 jobs: Sources - The Times of India

i was under wrong impression before, that there are always bunch of people with money looking for apartments....but when i saw bhratatiya city booking, all were young 25+ s/w professionals....

so, its pretty much clear where this all leading now....

was reading another blog in which a CEO of a leading RE firm warned against people buying 1cr+ flats in 2013 in bangalore as the year not going to be great for s/w or techies....
Somashekar likes this.
January 4 2013 , 06:02 PM   #994
Member

Somashekar's Avatar
 
Join Date: Nov 2011
Posts: 388
Likes Received: 286

gkannan16

Infosys has denied this.. There is no impact on Real Estate. One can buy at any rate - 1cr will become 2cr in 2 years.

Btw- can you send me the blog where the CEO was making the bearish statements. We need to advise him that it is not good for the business.
professor63 likes this.
January 4 2013 , 08:00 PM   #995
New Member

springfield9's Avatar
 
Join Date: Oct 2012
Posts: 49
Likes Received: 7

Infosys may have denied this but from what I know by interacting with Infy guys, the company is going thru crisis and 2013 will not be any good.

I think it is true for all top desi IT companies - only Cognizant was proving wrong time & again but not any more. They too changed their outlook downwards.

In the current scenario, if bangalore market is driven only by tech crowd(I'm not fully sure of this) then it'll be very difficult to sustain the price.

Only time will tell which way it goes from here - but general business sentiment doesn't look to be very positive - the world over
January 7 2013 , 10:52 AM   #996
New Member

mary2008's Avatar
 
Join Date: Jan 2013
Posts: 1
Likes Received: 0

Quote:
Originally Posted by Soumik20
Ravikanth...Is requizza a good buy..? Plans luks promising nd next to neo.....but approval is not there and gettin sum negative feedback abt builders too..please suggest...
Hi

Did anyone booked in sowparnika sanvi whitefiled.Any information about approvals and builders
January 8 2013 , 09:35 PM   #997
New Member

springfield9's Avatar
 
Join Date: Oct 2012
Posts: 49
Likes Received: 7

What you mostly read in real estate supplements/blogs/forums is all paid content or content written with vested interest.

Some people have been banned for hyping things up.

You will usually find the real news in the editorial page or somewhere inside. The news will be based on data/facts/figures - nothing to hype up about.


Housing sales fall by 16% in 2012; new launches drop by 30% - The Economic Times
January 8 2013 , 11:13 PM   #998
Member

sumitrananda's Avatar
 
Join Date: Oct 2012
Posts: 287
Likes Received: 76
My Mood: Chatty

Quote:
Originally Posted by springfield9
What you mostly read in real estate supplements/blogs/forums is all paid content or content written with vested interest.

Some people have been banned for hyping things up.

You will usually find the real news in the editorial page or somewhere inside. The news will be based on data/facts/figures - nothing to hype up about.


Housing sales fall by 16% in 2012; new launches drop by 30% - The Economic Times
Dear Springfield9;
[NOTE: I am not an agent/builder/catalyst/investor.]

Thanks for sharing this information. I have few point to add here.

Does fall in absorption means fall of prices of steel, fall of Railway transportation charges, fall of diesel prices, fall in labour cost etc.??

Ans: Fall in absorption means less buyers.

Why are there less buyers?
Ans:Because flat prices are so high that only small numbers of buyers can afford it. Otherwise every tom dick and harry would go for a buy.

Why is price so high?
Ans:Because of Investors. These investors make enough sales for a builder. Even some times they pay huge amount upfront. Because of enough sales, builder increases prices.

Let me give you an example:
I bought NCC Urban at Doddabellapur road one year back{work is still going on}, the price was 3000/sqft. launch price was 2700/~. Now price is 4200/sqft. Sales actually fall by 16% in 2012 because of high price; new launches drop by 30% because of less buyers. If there is no consumption why would someone launch new project?

Ask The Economic Times to post about land consumption. Is land consumption also falling by 30%? These builders/Investors are buying land for future launches. they will launch only if there is consumption.

I don't know if one has visited BS 6th stage/anjanapura. One cannot stay there but land price is doubling every 2.5-3 years.

There are another factors also like land cost, bribe/corruption, high labour cost, high raw material cost, high transportation cost and last but not least Builder's Greed i.e. Profiteering. these Profiteers don't care input cost...just multiple their profits.

How these Investors can afford it?
Ans: Because of innocent buyers.
<<<< TAKEN FROM OTHER POST>>>>>>>
Naive buyers has following flaws:
1) They want close to ready to move apartments. Hence they come late in the queue. Always behind Investors.

2) They procrastinate the evaluation of project. i.e. Instead of contacting some lawyer, they tend to discuss it on forums which are filled with RE gurus and Agents/ Builders /Promotors.

3) Every builder cheats for BWSSB and KPTCL charges. it is not more than 80K for both together. But they are fool enough to ignore it and even don't dare to ask reason for it. As if marketing ppl will kill him.

4) Some areas in Bangalore, don't come under BWSSB jurisdiction but these Computerized brain does't even care.

5) They don't know about number of NOCs required an apartment. Forget about asking these NOCs from the builder.

6) They are desperate. They will waste their time in deciding the project and finally, they get frustrated and go for buy even at absurd prices.

7) They believe all the builders will run away with his hard earned money. They don't know the builders' losses if they run away. If builder runs away he will make 'M' amount of money. if he does not run away, he will make '15xM' i.e. fifteen times more, Then why will builder run away.[ plz ignore exceptions... orange reality].

8) There are another group of buyers ...'Inverstors'. Investors don't care about approvals, ventilation, vaastu, builder, marketing-team, builders' name....etc....But they concentrate on one and only one thing...i.e.'Making Huge Margin'. These Investors are responsible for pushing prices up. They make enough sales for builders and builders increases the prices....
Once there is increase in price.... Investor will also make huge profit.
....[kind of Harshad Mehta Technique in share market].

9) They never know what is service tax and vat charges....

10) They don't know that they had paid more than 20K from their own pocket as bribe for registration.


N.B.
I agree with the points written in The Economic Times.
I am just an RE guru and Not a Broker/Agent/Catalyst/Promotor/Builder/Developer....etc.

--Sumitra--
pcari71, 4cubeww and Ranjan20 like this.
January 9 2013 , 08:48 AM   #999
Senior Member

mymarji's Avatar
 
Join Date: Mar 2010
Posts: 519
Likes Received: 65
My Mood: Cheerful

Quote:
Originally Posted by Somashekar
gkannan16
Infosys has denied this.. There is no impact on Real Estate. One can buy at any rate - 1cr will become 2cr in 2 years.
You really believe your words ? If that was the case, why are these RE developers putting so many advt in newspaper/media and also trying to sell thru brokers ? Any ideas? If they can get 100% profits in 2 years, then they should be relaxing in Hawaii/Macau, not sweating it out in the hot weather. And what about the numerous RE/Home fairs, every month ? Why are they spending time/money/effort on these ?

Talking in the air is always good, but one should watch out, else people will stop taking one seriously. Seems like that Dabangg dialogue "Itne ched ho gaye, ki pata nahi chala...sahi baat kaha se nikali aur fart kaha se" (..Just kidding.)
January 9 2013 , 08:55 AM   #1000
Member

Somashekar's Avatar
 
Join Date: Nov 2011
Posts: 388
Likes Received: 286

Sumitra

You are oversimplifying the situation by saying that end customers are naive. The point is there are no options for them. The Government has failed on this front (like many others).

Let me ask you - you are saying that the builder cheats on BWSSB and KPTCL amounts. That is true. What is solution? If you ask the marketing, they will say "take it or leave it". What are you going to do ? Complain to the police, BWSSB or KPTCL? There is no option but to accept or walk away. If he/she accepts, you say they are naive.If he/she walks away, you wll go back to the point that they procrastinate and not take decisions.

One more thing on "investors". People talk of rates increasing(for no real reason). If the rate goes from 3000 to 4000, there are hidden costs like cost of holding, opportunity costs, builder transaction fees. If you see the return, it may beat the bank rates by 2-3%. For this amount, the risk is too high because if it goes the other way, you lose big.

As for builder running away, there are hundreds of examples of unfinished projects and builders disappearing

But I guess the forum is only for people to come and give us the good news. Bad news always happens to others. Like our old friend who is now banned.
4cubeww likes this.
Choose theme from here -
LinkBack
LinkBack URL LinkBack URL
About LinkBacks About LinkBacks