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What is the Impact of IT Sector Downfall on Real Estate?

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What is the Impact of IT Sector Downfall on Real Estate?

Last updated: February 25 2009
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  • #71

    #71

    Re : What is the Impact of IT Sector Downfall on Real Estate?

    BTW in 2000, Adarsh Palm Meadows a fantastic project was available for 40Lakhs. I am talking about 3000 sqft independant gated villa. Now I think it is 4 to 6cr. Can Gocca and Mocca get me an adarsh villa for 40L now? I want it desperately.

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    • #72

      #72

      Re : What is the Impact of IT Sector Downfall on Real Estate?

      Originally posted by sethugm View Post
      Dear Friend,

      You can suggest to avoid duplication in posting thats welcome gesture.

      You cant even advise/police other members in this forum because we have some admins doing that role.

      Definitely you will be affended when the same guy retreats with "Who are you to ask this ?" ..

      Lets be friendly.
      I aint definitely trying to police or admin here, but was just curious to know his intention of cross posting. Isn't it silly to do even if you have a valid point? I'm afraid that your intention gets noticed before your arguments.

      If he has the rights to spew the same over multiple posts, dont I have the same rights to ask why? after all, this is just a discussion forum buddy.
      Thanks for your care! take care

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      • #73

        #73

        Re : What is the Impact of IT Sector Downfall on Real Estate?

        Originally posted by gone_mad View Post
        I aint definitely trying to police or admin here, but was just curious to know his intention of cross posting. Isn't it silly to do even if you have a valid point? I'm afraid that your intention gets noticed before your arguments.

        If he has the rights to spew the same over multiple posts, dont I have the same rights to ask why? after all, this is just a discussion forum buddy.
        Thanks for your care! take care
        And what is wrong about his intentions. You want the price to keep going up and there are a lot of others who want the price to go down so that they can afford. So why is your intention noble and not others.

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        • #74

          #74

          Re : What is the Impact of IT Sector Downfall on Real Estate?

          Originally posted by nojoke View Post
          And what is wrong about his intentions. You want the price to keep going up and there are a lot of others who want the price to go down so that they can afford. So why is your intention noble and not others.
          I have told many a times that I am a prospective buyer (first time buyer) and I have never supported the bearish or bullish views. I just have a modest and practical view about the RE happenings.
          I take the both bearish and bullish points, personally judge with the valid ones, listen to my instincts and will decide upon when n where to buy - this is my stand.

          What I meant by 'silly intention' is just the cross posting thing and not the content. Hope I made it clear... apologies if the earlier post had been rude.

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          • #75

            #75

            Re : What is the Impact of IT Sector Downfall on Real Estate?

            Originally posted by gone_mad View Post
            I aint definitely trying to police or admin here, but was just curious to know his intention of cross posting. Isn't it silly to do even if you have a valid point? I'm afraid that your intention gets noticed before your arguments.

            If he has the rights to spew the same over multiple posts, dont I have the same rights to ask why? after all, this is just a discussion forum buddy.
            Thanks for your care! take care
            I agree with you on that. Some of these retards, driven by some crazy motivation, find it worthwhile to copy paste the same drivel on multiple forums. I cannot fathom why they do that. I am glad you pointed it out. You were quite polite, actually. I'd have used harsher language.

            Also, can someone take all of Wiseman's predictions and make it a sticky? (Mods?) I'd like to track his predictions for the next 12 months, and if even 75% of them come true, I'd personally recommend Wisey for the Nobel prize (or something equivalent)

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            • #76

              #76

              Re : What is the Impact of IT Sector Downfall on Real Estate?

              Originally posted by panther View Post
              Also, can someone take all of Wiseman's predictions and make it a sticky? (Mods?) I'd like to track his predictions for the next 12 months, and if even 75% of them come true, I'd personally recommend Wisey for the Nobel prize (or something equivalent)
              A nice idea, sticky threads are not here yet I believe.
              Not only wiseys', but shouldnt we collate all the prophecies made by Nats, nabishek, et al?

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              • #77

                #77

                Re : What is the Impact of IT Sector Downfall on Real Estate?

                Originally posted by gone_mad View Post
                A nice idea, sticky threads are not here yet I believe.
                Not only wiseys', but shouldnt we collate all the prophecies made by Nats, nabishek, et al?
                Absolutely! If someone can scan the posts in the last 6-8 months, extract the gists of what Wisey and Natty and others have posted, and come up with a single succinct post that presents, in a bulleted form, predictions from all of them, it would be really interesting to track it for the next few months and see who's the winner. Though the Admin and Mods here seem to be incredibly hard hearted, I am sure they can put up a sticky for us if we ask them nice.

                This would be the Internet equivalent of a cage-fight betn wisey and natty. My money's on Wisey for the time being, though his predictions seem slightly extreme on some fronts.

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                • #78

                  #78

                  Re : What is the Impact of IT Sector Downfall on Real Estate?

                  Originally posted by wiseman View Post
                  Gocca (and others),

                  Remember, an 8% Fiscal Deficit when we spent first part of the year in boom-boom mode!!! What will it be in 2009 when the whole year will be in Doom-doom mode!!! Expectation is that, with all this election-year pandering via populist measures, it may well be in the 10-12% + range and with rosy projected revenue crashing due to export crash and general slowdown in consumption may even go to 15% of GDP! Economy will be in shambles as (to my knowledge) it has not happened before.

                  - Govt has already run out of easy credit to dish out (why there was no stimulus package this time as they realised that stimulus is not working and they are running out of money)

                  - There will be no further sops to the RE sector (as to other sectors). All this talk about people being able to sustain forever will end when severe and prolonged decline occurs. Nobody likes to see 60% of his wealth disappearing (even black) without any hope of recovery in the near term. They will sell to cut losses

                  - Credit will become much tighter

                  - Consumption will crash further (good side-effect will be people will lose weight more and become healthier generally)!

                  - Oversupply in the markets will increase to intolerable levels in most heavy assets (cars, plasma TVs, Cell Phones, flats)


                  Buy RE now at your own peril. Good luck!

                  cheers
                  Thanks Wiseman, for restating all what you have been so Prophetically stating for so long and reminding us all once again in this post.

                  Many of the scenarios are scary and is something we would pray it doesnt happen.

                  We sure are seeing many early signs of it, people losing jobs, defaulting EMI's,Retail chains getting closed etc..

                  After the Elections, People will get to know the real (e)state of the country.

                  Till then I believe, Everyone will try to maintain status quo and use all the possible tricks under the sleeve to keep the bad news under wraps.
                  Last edited February 20 2009, 04:54 PM.

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                  • #79

                    #79

                    Re : What is the Impact of IT Sector Downfall on Real Estate?

                    Originally posted by gone_mad View Post
                    Hi People,

                    I've been a long time observer of this forum, and this forum has made a definite impact on my decisions on dealing with money, be it with RE or other investments of late.

                    Now that I'd like to get some advice / suggestions from you guys for my MBA project.
                    This forum is so information rich and I'd like to utilize the information that's being shared here on my project say details about RE boom in India, recession impacts or other widely discussed hotopics.

                    And ya, I agree that mine is a silly education when compared with the biggie Ivy league, IIM, IIT peepz around and that's why I'd like to get all your guidance to make a better project paper.
                    Requisite is project can be in any topic related to Finance, Economy (I major in Finance)

                    I'd greatly appreciate any expert help, responses, topics, advices, suggestions, and what not
                    TIA
                    Originally posted by gone_mad View Post
                    I have told many a times that I am a prospective buyer (first time buyer) and I have never supported the bearish or bullish views. I just have a modest and practical view about the RE happenings.
                    I take the both bearish and bullish points, personally judge with the valid ones, listen to my instincts and will decide upon when n where to buy - this is my stand.

                    What I meant by 'silly intention' is just the cross posting thing and not the content. Hope I made it clear... apologies if the earlier post had been rude.
                    Gone_Mad,

                    Let me make it clear that Yes I am bearish & I want to see the prices to fall to realistic levels.

                    Hi All,

                    Why I am bearish on RE ...

                    --Sky-High prices escalated by greedy people(with no basic Infra).
                    --The global recession with no possible turnaround timeline on the cards
                    --90% of the retail stock investors lost 60-70 % of the investment & could not exit for the next 2 years.
                    --No value for money on RE Property
                    --PE Participation & Participants in RE has been decimated.
                    --Bleak Economic Outlook ..Delay in Govt accepting the contraction & so delay in remedy/turnaround.
                    --Worthless land/apartment with no completion time.
                    --Declining Job prospects & Exports plummetting
                    --Worthless beedi-smoking brokers talking in Crores and asking 2% commission without any valid document .

                    Am sure many would have avoided the RE purchase because of these stupid brokers quoting in crores for worthless places.And some of my friends retarded the broker "I will give you one year time , Can you earn/save/show Rs 10000 other than this RE Cheating ?".Few of my friends decided not to hurry and let it correct automatically ...Its being done by the grace of Oversupply/Recession/GreedyLeverage and am sure many of these greedy people would be reduced to Zero or Negative in the months ahead.

                    Just let me narrate another instance ..

                    Seeing an ad for a Perungudi property in magicbricks advertised by an agent with Name X(there was a famous 'Tamil' thriller novelist 'Lena' ), I sent my interest which he replied.

                    I sent an email asking the details of the property with the following details.

                    1. Does he have the original document .. ?
                    2. Whats his role/responsibility if there any problem arises on the property in the coming years ..
                    3. Why he is asking 2% commission ?

                    With no surprise he never replied . He may be good guy as he did not proceed further as he did not have the valid answers for my queries. Someone else would have tried further to cheat.

                    My sincere thanks Mr X .

                    In the country where I live currently,any sale/buy proceeds only after the Govt valuation and the Agents have to clear all the legal issues and responsible for anything arises henceforth.

                    For the 3/4 th money quoted in Chennai ,I can easily buy a good house here with fantastic Infra.And I can be carefree for life as there is Zero % chances for forgery.

                    When there is no Security & Infra & Job prospects, how people are expecting the price to appreciate every year by 20 percent . Can I say those as greedy/lunatics ?

                    There are many guys under the pretext of prospective buyers trying to hold up the prices .

                    These guys are worser than the meanest thing in the world.

                    I really appreciate 2 guys in this forum clearly stating they are land/property owners & state that the prices will appreciate .Its human nature when some possibly loose something he will try his best to avoid the loss.(But one has to change his approach & avoid using bad words).

                    Gone_Mad,

                    Each and every one creates their own thread with their own agenda. So its very much necessary that any effort to escalate the prices further has to be abated in the interest of consumers .

                    Just let us know when your (RE) project gets completed.

                    You may counter with 'why not one cant be doing both MBA Project and searching property' in that case you would have made your intentions clear earlier ..FullStop..I dont want to waste my time.

                    Bye
                    Last edited February 20 2009, 06:37 PM.

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                    • #80

                      #80

                      Re : What is the Impact of IT Sector Downfall on Real Estate?

                      Originally posted by abk View Post
                      this is a thread from another forum
                      dated 29-03-2008
                      03-29-2008, 09:22 PM
                      MrLong
                      Member Posts: 255
                      Thanks Given: 1
                      Received Thanks: 5 Times in 5 Posts Join Date: Mar 2007
                      Location: Timbukto, USA
                      Indian City: Blore
                      Myself:

                      I also got to see this email. Wasn't there an article earlier about 100,000 apartments built and vacant in Blore.

                      Why will this be a good investment? is it the DLF brand or the location? The current rate, AFAIK, for newly built apartments are around that range or so... near B'ghatta road.

                      This project is 4 kms OFF b'ghatta road. And, will be ready only after 3 yrs. If the builder promises 3 yrs, lets expect 4 yrs. Is it really worth it as an investment?

                      -M
                      second post

                      TMUS
                      Member Posts: 108
                      Thanks Given: 1
                      Received Thanks: 10 Times in 9 Posts Join Date: Jan 2007
                      Location: Bengaluru, USA
                      Indian City: Chennai
                      Myself:

                      It is 4 kms from IIM, 20 mins drive to Electronic City, & 30 mins to MG Road.

                      It will take 20-30 minutes to just reach Bannerghatta Road given that the project is 4 kms from IIM, one would have to drive thru streets and bylanes.
                      __________________
                      If you think you CAN, you can, If you think you CAN'T, you are probably right.
                      ----------------------------------------------------------------------------------------------
                      this is abk.

                      it is not on but off bannerghatta road,4kms inside.
                      THE LOCATION WAS NOT ATTRACTIVE ONE YEAR BACK AND HENCE HE WAS NOT ABLE TO SELL EVEN IN BETTER MKT CONDITIONS THAN NOW.
                      THAT EXPLAINS THE DISCOUNT NOW.ANYWAYS ALL HAVE BEEN SAYING 'FAR OFF PLACES' WILL CRASH.TELL ME WHEN GOOD PLACES CRASH. (THE caps were only to diff the posts)
                      http://economictimes.indiatimes.com/...ow/4152263.cms

                      This is not something old news and could see the same in todays EconomicTimes.

                      Cheers GoccaMacca .

                      People will try their best to defend the exorbitant price until completely crushed down.

                      They will try to hide the truth with false claims. Ignorant as high as RE Prices.

                      Market is doing it and will take care of them.
                      Last edited February 20 2009, 07:57 PM.

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