Dear friends
I used to see Free Ads paper to know the price quotings in RE section.
In june 2008 one person has quoted price for 2200 sq.ft land with 1800 sq.ft building with all amenities Rs.85 lacs. This house is not sold for the last 7 months.In january 2009 1st week he quoted Rs.82 lacs. This week he has quoted Rs.80 lacs.
Moreover, i can see many advertisement repeating for the last 7 months. From this we can know that property sales has come to standstill. And there is considerable price correction. Even though sellers are reducing the price slowly there are not any takers.
Thanks
chataara
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  • Dear friends,

    Most owners may not be desperate to dispose of their RE at the time of downtrend unless they are in very deep, deep trouble. They would like to hold on somehow. Only the flat promoters due to heavy cash crunch and not able to manage further may like to dispose of at lower prices.

    ks2071746:o
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  • Originally Posted by vijai5
    most of the owners think that it will get back to normal within a year,when they realise that its going to be severe only then they will come to sell



    Dear friend

    Most of the owners of RE dont realise that this is just beginning only.

    End of this downtrend is one or 2 years away. Then, It will be unbearable

    for the sellers to hear the rate that the er quoting.

    thanks

    chataara
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  • Dear friends,

    There will be reducing trend in RE here in ndia but not a collapse.
    I have read in an article, Black Money in Swiss Banks- Swiss Banking Association Reort, 2006, details bank deposits in the territory of Switzerland by nationals of following countries:

    01) India----- $ 1456 billion ( Rs. 72,80,000 crores)
    02) Russia---- $ 470 billion
    03) UK ----- $ 390 billion
    04) Ukraine---- $ 100 billion
    05) China------ $ 96 billion

    US is not even figuring in the first 5 names ? Naturally it is collapse in US as the power of Black Moeny is very negligible there. In India the story is entirely different.

    The Swiss Govt. is now willing to give the names of the people from the country if the respective Govt. makes a request. Our Govt. is not asking for the details. Do you know why? The account holders are none other than politicians, industrialists and officials of govt., govt. and private organisations. With so much of money in Swiss Banks, one can imagine how much will be there in India as BM, how can we expect the RE will see a collapse in this country at any time? Black money is an idle money and it can always protect the RE silently with no collapse whatsoever.

    ks2071746 :D
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  • Originally Posted by ks2071746
    Dear friends,

    There will be reducing trend in RE here in ndia but not a collapse.
    I have read in an article, Black Money in Swiss Banks- Swiss Banking Association Reort, 2006, details bank deposits in the territory of Switzerland by nationals of following countries:

    01) India----- $ 1456 billion ( Rs. 72,80,000 crores)
    02) Russia---- $ 470 billion
    03) UK ----- $ 390 billion
    04) Ukraine---- $ 100 billion
    05) China------ $ 96 billion

    US is not even figuring in the first 5 names ? Naturally it is collapse in US as the power of Black Moeny is very negligible there. In India the story is entirely different.

    The Swiss Govt. is now willing to give the names of the people from the country if the respective Govt. makes a request. Our Govt. is not asking for the details. Do you know why? The account holders are none other than politicians, industrialists and officials of govt., govt. and private organisations. With so much of money in Swiss Banks, one can imagine how much will be there in India as BM, how can we expect the RE will see a collapse in this country at any time? Black money is an idle money and it can always protect the RE silently with no collapse whatsoever.

    ks2071746 :D



    Dear friend

    Corrupt politicians, Govt. Officials, Industrialists dont want to park all their black money in RE. Thats why they have deposited their money in Swiss bank.

    In future also they will not like to bring the black money from swiss bank and deposit in RE. By the way why do you think that they will invest this BM only RE sector. There are many avenues for this purpose.

    Thanks

    chataara
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  • Dear friend,

    Even assuming that they will not bring out any money locked in Swiss Banks, what I mean to say is, much more than this is available in India as BM and this will be the stumbling block in not allowing any collapse to happen in the RE in India.

    ks2071746
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  • The Present situation is because of the Real Estate, the fall in RE will boom the economy. Sorry to say, who are all bought the house in the last 2 years, it is very tough for you to sell your flat/land in the higher/same rate till 2020.
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  • As per latest news World economy will shrink in the worst way since II world war.

    If any one wants to sell RE, sell it at present market price. It will only further slow down
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  • Originally Posted by ks2071746
    Dear friend,

    Even assuming that they will not bring out any money locked in Swiss Banks, what I mean to say is, much more than this is available in India as BM and this will be the stumbling block in not allowing any collapse to happen in the RE in India.

    ks2071746


    Dear KS,

    So you mean to say RE will not fall in India bcoz of black money. RE fell for continuosly 3 years in late 90's.At that time there was no black money?
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  • let us discuss after general elections how it is going to be in Indian economy???
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  • Originally Posted by ks2071746
    Dear friend,

    Even assuming that they will not bring out any money locked in Swiss Banks, what I mean to say is, much more than this is available in India as BM and this will be the stumbling block in not allowing any collapse to happen in the RE in India.

    ks2071746


    Dear friend

    Those with BM have invested all that they can invest during the peak time of RE. Now, in this sluggish slow down period, no clever Politician or beuracrat will invest in RE.

    They know better than us as far as investing is concerned. Thats why they have chosen Swiss bank.

    Other wise they would have invested all those 72 lakh crores in Indian Lands itself.

    So better let it be there in Swiss bank itself as their wish

    thanks

    chataara
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  • already the politicians have already invested and no one will keep adding property to their portfolio during downturn,and moreover even if they are ready to property in this downturn they cant act against the market forces.i meant just because they are ing it doesnt mean RE wont fall or collapse.
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  • when the market sentiment turns negative, ing from selective portion of people is not going to affect the overall market trend. just like in the stock market.

    the same is applicable when the trend is positive, if some portion of the community is not ing, the market will not come down or be stagnant.

    we need to look in to this dimention too.
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  • Hello Everyone!!!

    I am newbie to this forum. I just want to know the current trends so got registered myself. After reading some threads I am scared to post my views. Since I am not educated as people behave here (cool....) why so much personal attacks I don't understand the logic behind it. It seems like a street fight for Instance "PODA Pictaikara" etc... Strange. I am not here to make them to realize but I want to register my view who seeks for info will be surely scared to post his comments n discuss over here which will be benefitting them I guess so they are attacking personally without any relevant data's Freedom speech we are using it to the core....

    Still this quite interesting like Masala movie what would be next n keeps the thread active :D

    Keep it up!!

    Cheers guys!!
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  • Dear new friend,

    You said it right. We may have to maintain more restraint in using such words. This is a site being visited by people of all ages, all sorts both men and women and it is always good to use pleasant words even if one wants to show his contrary or objection to other's views.

    ks2071746
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  • From Economic times

    Real estate magnate Niranajan Hiranandani does not expect property prices, which have corrected by about 25 per cent over the past year, to
    decline any further
    "(Property) rates have fallen by about 10-25 per cent over the past year-and-a-half. I do not expect rates to fall any further. So, I think people should start b u y ing homes now," Hiranandani Constructions Managing Director Niranjan Hiranandani said on the sidelines of a conference here.

    If builder is saying 10-25 it will be certainly more than that and also these people are very anxious to sell their over hyped properties they will predict these kind of crap.
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