So we have a lot of negative sentiments in the market with Rupees sliding down every day.

Experts like Notepad and Somashekhar are predicting Real Estate Carnage in very near future.

Starting this thread to track distress property sale in Bangalore. By distress property sale we mean any property being sold below market value in order to close the deal faster.

Requesting fellow forum members to provide details of any such opportunities if and when they come across.

Poor Software engineers like us only keep dreaming of reduction in RE prices only to face another onslaught of price increase.

Taking idea of "wiseman" forward, we have formed a facebook group for those who might be interested in distress buy or sell.

https://www.facebook.com/groups/DistressPropertySaleBLR.PropGroupBuy/

P.S. : Pls note real estate down slide may or may not happen, any financial decision is solely individual's responsibility. :bab (59):
Read more
Reply
45 Replies
Sort by :Filter by :
  • Is this specific to Bangalore? I would suggest not to bring in other cities and its citizens into this FB group to make it more specific and crisp to Bangalore. Any thoughts??
    CommentQuote
  • Originally Posted by Nandu1
    Is this specific to Bangalore? I would suggest not to bring in other cities and its citizens into this FB group to make it more specific and crisp to Bangalore. Any thoughts??



    I agree to keep the group specific to Bangalore. And also agree to not bring in distress sales of other cities. This way, we can keep the transaction specific to bangalore.

    But, i want to disagree on keeping other city people out of the group.
    India is one country & any indian can live/stay/work in any part of india. Accordingly, we should keep the group open for any indian.. Accordingly, we should keep the group open for any indian.. Accordingly, we should keep the group open for any indian.
    CommentQuote
  • :) You are right Northbegaluru. I meant to avoid other city discussions and not the people. In fact i am not from Karnataka.
    CommentQuote
  • Thank you Nandu1,

    I am from karnataka. if i go to any other state, i would follow the same rule for myself.
    CommentQuote
  • @northbengaluru
    CommentQuote
  • Originally Posted by VickyKr
    So we have a lot of negative sentiments in the market with Rupees sliding down every day.

    Experts like Notepad and Somashekhar are predicting Real Estate Carnage in very near future.

    Starting this thread to track distress property sale in Bangalore. By distress property sale we mean any property being sold below market value in order to close the deal faster.

    Requesting fellow forum members to provide details of any such opportunities if and when they come across.

    Poor Software engineers like us only keep dreaming of reduction in RE prices only to face another onslaught of price increase.

    Taking idea of "wiseman" forward, we have formed a facebook group for those who might be interested in distress buy or sell.

    https://www.facebook.com/groups/DistressPropertySaleBLR.PropGroupBuy/

    P.S. : Pls note real estate down slide may or may not happen, any financial decision is solely individual's responsibility. :bab (59):


    I thought IREF was a forum that does not allow commercial activities!
    CommentQuote
  • Yeah the group is for Bangalore based properties only.

    The distinction has also been made while naming the group to avoid any confusion.

    DistressPropertySaleBLR

    Originally Posted by Nandu1
    Is this specific to Bangalore? I would suggest not to bring in other cities and its citizens into this FB group to make it more specific and crisp to Bangalore. Any thoughts??
    CommentQuote
  • Professor Sir,

    The intent here is purely to connect people together and track the "predicted" down slide of Real Estate in Bangalore.

    Commercial activity is neither the intent nor the desire.

    Originally Posted by professor63
    I thought IREF was a forum that does not allow commercial activities!
    CommentQuote
  • Based on predictions on Food Security Bill, if your view is long term in Real Estate atleast till 2018-19, you should be fine.

    Good to have some Light at the end of this long tunnel.
    Not entirely doomed as predicted by Notepad.

    Sonia’s food bill will bring great pain, bankruptcy… and reform - Firstpost

    Even as the Sonia Gandhi-led UPA sinks the economy further in the short term with the passage of the Political Insecurity Bill-a.k.a. the Food Security Bill-it is worth making a few predictions about the next five to six years of the economy, which includes not only the next nine months of this decrepit government, but possibly one or two more short-lived governments going all the way to 2018-19.

    Sonia’s Food Bill may provide the tipping point to bankruptcy and then reform.

    CommentQuote
  • An example of Distress sale :-

    Concorde Cuppertino is now selling with no PRE-EMI and has also reduced is its range from 1.20 Cr to 1.02 Cr

    Got a mail below :
    ================================
    SAY NO TO PRE EMI !!

    CONCORDE CUPPERTINO VILLAS ELECTRONIC CITY PHASE 1

    Just pay 20% and wait for possession No PRE -EMI

    Plot size: 1200sqft, 1500sqft, 2000sqft, 2400sqft & odd size. Independent villas with world class amenities

    BDA Approved villas in electronic city phase1 Opp to wipro. 182 Triplex designer villas in 12.5acres of land

    Villas Sizes: 1850 sq.ft to 3000sqft.

    Range: 1.02 Cr, onwards
    ================================
    CommentQuote
  • why can't you track distress sale here on IREF? why create another account for this?
    CommentQuote
  • Reasons :

    - No Commercial activities allowed on IREF
    - Contact details of distress seller can't be shared on IREF
    - Yeah, this thread is to track any distress sale in Bangalore, feel free to contribute.
    - FaceBook group DistressPropertySaleBLR is only to share the info on such opportunity when encountered without any vested interest. Viability of the group will depend if the RE market goes for crash or not, as predicted by some of the experienced member on this forum.

    Originally Posted by hpq2011
    why can't you track distress sale here on IREF? why create another account for this?
    CommentQuote
  • Recently a lot of new projects have been launched by big builders:

    - Shobha Palladian
    - Pruva Skydale 'Maravillaso'
    - Nitesh British Columbia
    - Patel Smondo 4.0
    - Adarsh Premia

    Not sure if builders are launching these to take advantage of falling rupee for NRIs.

    Or Builders want to sell-off as many property as they can before RE crash. Something to wait and watch.
    CommentQuote
  • Is real estate next in line to collapse?

    A Business Standard report points out that of the 26 cities surveyed by the National Housing Bank (NHB), as many as 22 including Delhi, Mumbai, Pune, Bangalore and Chennai saw a drop in property prices during the April-June quarter, compared to the first quarter of this calendar year. An all-round squeeze in liquidity and dearth of buyers have led to a fall in prices across the country.
    CommentQuote
  • Originally Posted by VickyKr
    Recently a lot of new projects have been launched by big builders:

    - Shobha Palladian
    - Pruva Skydale 'Maravillaso'
    - Nitesh British Columbia
    - Patel Smondo 4.0
    - Adarsh Premia

    Not sure if builders are launching these to take advantage of falling rupee for NRIs.

    Or Builders want to sell-off as many property as they can before RE crash. Something to wait and watch.


    I would like to disagree on "Lot of New projects",
    There are few New projects coming up, even from Big builders.

    Even the market has slowed down, There is always some Demand for Houses.
    According to reduced demand, they will be coming up with Supply.

    But, overall i see , Builders are cautiously coming up with New projects & doing whatever best they can to selloff old inventory.
    Like, 1)concorde cuppertino has come up with PRE-EMI scheme.
    2) Brigade is trying to sell more rigorously to NRI investors, considering rupee fall.
    etc....
    CommentQuote