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Are Real Estate Prices Going To Fall 40% by Mid 2007?

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Are Real Estate Prices Going To Fall 40% by Mid 2007?

Last updated: February 21 2009
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  • Re : Are Real Estate Prices Going To Fall 40% by Mid 2007?

    Originally posted by ks2071746 View Post
    Dear friend,

    I have only one builder friend. I did take him at different stages of construction including the final stages now going on. He has been seeing the materials being used including the wood doors, windows and grills. I will take him again atleast 2 or 3 times before taking over the flat in another 3 or 4 weeks.

    I believe my own eyes and also go by the advise of my expert friend on this flat I have bought. The flat charged area is 1398 sq. ft. , the UDS is 986 sq. ft. and the carpet area is 1080 sq. ft. I still feel this is one of the best one could get for the billed sq. ft. of flat in Chennai. I know of a relation of mine, who did not consult me on his purchase got only an UDS of 350 sq. ft. for a 1000 sq. ft. sold area and he told me this after a long time after the registration. The same builder has only 2 car sheds and he has sold these to 6 different flat buyers at different prices like Rs. 50,000, 75,000 and Rs. 1,00,000. The building outside and the stair case are still to be completed and believe me, the contruction was really started about 3.5 years back. The plan approval is for 1+1 floor and the promoter has constructed the second floor also without approval. See the complications in this project. It is really bad to get into the flats through unfinished pavements, staircases and worst to see the outer side walls unfinished, with black patches. It looks so old . Much worser than what one can see in ex Gemini Studio area - seen from Anna Fly Over the unfinished office complex near Parsn Building which can be said to look better though the construction is at stand still for almost over 10+ years as I could remember.

    ks2071746
    Ks i have constructed on my own atleast 5 houses for my family.
    and i have seen bulders construction too.i find that 95% of them use the same materials i will explain.
    the builders plan thru an architect and take the structural plan from a qualified engg.
    therefore no compromise on steel usage.
    they use the common cement available in the market,it will amaze you that all of the cement brand have a certificate of strenght and the same grade cements like ppc,43 grade,53 grade are equal. i have tested cements in kings lab,guindy.
    they generally use ready mix concrete therefore good quality.
    the thickness of the slab is 4.5-5" thick everywhere.
    the quality of sand,and bluemetal is same everywhere.
    the wood is a natural material some use you use padauk,teak or country wood
    (this would be specified in const agreement)
    the thickness of door frames is 4" x 2.5" standard everywhere.
    the electrical cables have to be checked
    and electrical and plumbing can be checked anytime.

    the point is the quality of construction is not compromised because everybuilder doesnt have a brand and they need repeat customers or recos

    if quality was very bad then many flats above 5 yrs old should have collapsed.

    leave some bad elements rest there is not much difference in quality among developers.
    rather the quality of contractors is more vulnerable to compromise.
    the builders anyway transfer the cost to us with huge profits,so it doesent make sense to reduce quality.and moreover many flats get sold after completion and no builder will take the risk of a bad quality tag.

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    • Re : Are Real Estate Prices Going To Fall 40% by Mid 2007?

      Originally posted by abk View Post
      Ks i have constructed on my own atleast 5 houses for my family.
      and i have seen bulders construction too.i find that 95% of them use the same materials i will explain.
      the builders plan thru an architect and take the structural plan from a qualified engg.
      therefore no compromise on steel usage.
      they use the common cement available in the market,it will amaze you that all of the cement brand have a certificate of strenght and the same grade cements like ppc,43 grade,53 grade are equal. i have tested cements in kings lab,guindy.
      they generally use ready mix concrete therefore good quality.
      the thickness of the slab is 4.5-5" thick everywhere.
      the quality of sand,and bluemetal is same everywhere.
      the wood is a natural material some use you use padauk,teak or country wood
      (this would be specified in const agreement)
      the thickness of door frames is 4" x 2.5" standard everywhere.
      the electrical cables have to be checked
      and electrical and plumbing can be checked anytime.

      the point is the quality of construction is not compromised because everybuilder doesnt have a brand and they need repeat customers or recos

      if quality was very bad then many flats above 5 yrs old should have collapsed.

      leave some bad elements rest there is not much difference in quality among developers.
      rather the quality of contractors is more vulnerable to compromise.
      the builders anyway transfer the cost to us with huge profits,so it doesent make sense to reduce quality.and moreover many flats get sold after completion and no builder will take the risk of a bad quality tag.
      Very useful post abk, please continue sharing such experiences.

      Comment

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