Hi,

Am an IT guy interested in purchasing the land of size around 1Gnd to 2Gnd.So I would need your assistance in identifying the location with my budget 60Lacs.

I may take another min. of 2 to 3 yrs to construct home or also open for gated community with min. of 1G to 2G (Budget <= 90Lacs).

Thanks in advance.
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  • India realty sector set for correction - report - Dedicated to Natraj

    MUMBAI (Reuters) - India's property market is poised for a correction and residential property rates will have to drop by up to 30 percent in some geographies for affordability to catch up, a report on said on Monday.
    However, such a fall could trigger significant negative effects on the economy with construction, consumption and investment taking a hit, a Goldman Sachs Economic Research report said.
    Related industries such as steel and cement on the backend, and hotels, trade and transport on the front-end will be impacted, it said.
    Income growth will fall, reducing demand for housing as the economy continues to slow due to the knock-on effects of the global financial crisis, lowering demand for real estate.
    Besides income growth, demographics, interest rates, inflation and expectations of future projects affect demand. Commercial real estate demand will also take a beating due to the slowdown in IT and business process outsourcing sectors, it said.
    A fall in collateral will hurt firms' balance sheets, increase funding costs, hurt confidence and reduce investment demand, it added.
    However, India's favourable demographics, low mortgage penetration, falling interest rates and ongoing infrastructure demand will keep the property downturn from being protracted, it said.
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  • I would be happy to be proven wrong!

    Dear Shyame2,

    Goldman is considered to be probably the smartest of them all. So, I would give them more credence also for the reason that they take an inclusive approach in their analysis - they take all parts of the economy into account.

    Howeve note the last para ...

    "However, India's favourable demographics, low mortgage penetration, falling interest rates and ongoing infrastructure demand will keep the property downturn from being protracted, it said."

    The general belief is that India will escape lightly while the rest of the world will drown in this tsunami.

    On the battlefield a soldier always thinks the bullets will hit only his fellowman and will magically avoid him. In life, we always think that dreaded disease will hit only the other guy but will pass us.

    On the highway, the villager will studiously avoid looking either way believing that not looking somehow means that the truck speeding at them does not exist.

    In my experience - and historically - markets always surprise the majority opinion. Somehow, I believe that this light way in which our leaders and others view this economic event will also surprise them and deliver something more nasty.

    Out brethren in the USA (NRIs) are so despondent because they see first hand the havoc being wrought by this event. In fact one of my friends who owned and sold a KPO for well over 100 crores, went to the US to have a look at the situation himself (he's been there so many times before so he can compare before and after). His feedback was that people are terrified of the situation and are simply in deep panic in general. According to him, he has never seen so many people in such a state before (and he's been around).

    Hope for the best, prepare for the worst!

    I would like to be proven wrong since it may save so many people so much pain. Let us see ....

    cheers
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  • Originally Posted by shyame2
    MUMBAI (Reuters) - India's property market is poised for a correction and residential property rates will have to drop by up to 30 percent in some geographies for affordability to catch up, a report on said on Monday.
    However, such a fall could trigger significant negative effects on the economy with construction, consumption and investment taking a hit, a Goldman Sachs Economic Research report said.

    IT CLEARLY SAYS "IN SOME GEOGRAPHIES" NOT ACROSS THE BOARD LIKE STOCKS. so a max of 30% in some(means few) areas and the mid pont of 30 is 15% which should be the max happening at most places. so if anyone finds a 15% fall in areas of his/her choice he/she should buy it.goldman sachs says so.
    cheersMUMBAI (Reuters) - India's property market is poised for a correction and residential property rates will have to drop by up to 30 percent in some geographies for affordability to catch up, a report on said on Monday.
    However, such a fall could trigger significant negative effects on the economy with construction, consumption and investment taking a hit, a Goldman Sachs Economic Research report said.

    IT CLEARLY SAYS "IN SOME GEOGRAPHIES" NOT ACROSS THE BOARD LIKE STOCKS. so a max of 30% in some(means few) areas and the mid pont of 30 is 15% which should be the max happening at most places. so if anyone finds a 15% fall in areas of his/her choice he/she should buy it.goldman sachs says so.
    cheers
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  • That means that in places like Chennai where price is not falling, very soon we will see another upmove! Cheers.
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