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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  • Originally Posted by wiseman
    Folks,

    Not quite out of the woods could mean anything from "just at the edge" or "right in the middle of the deep woods"! :D

    In my opinion, they are right in the middle of the deep woods. For the following reason ..

    HIGH DEBT
    Debt load taken for business 250% - 300% higher. So debt is unsustainable and with interest rates looking up and demand not picking up companies will start drowning in debt.

    So, this indicates builders will be engulfed by deby burden. They will be forced to come to market to dump excess inventory and reduce debt. And that can happen only by price cuts to a significant level.

    Buyers who bargain 40% - 50% cuts will enjoy a good price and a good price appreciation later.

    cheers

    Chairman of largest lender in India knows the exact scenario of RE than brokers (AKA mother of all pitchakarans) who have lost their jobs and earning only by sucking buyers.See his comments : Investors have pumped in $25 billion into the Indian real estate market over the last three years but with land values having gone down they could have lost a third of the value of their investment,"said Deepak Parekh,chairman,HDFC, in a letter to shareholders.
    Parekh said that the $25 billion are invested through IPOs, QIPs (qualified institutional placements), AIM listing (alternate investment market) and foreign direct investment. A large part of these funds were used for buying land at exorbitant prices.
    "With land values having come down, my estimate is that investors could have lost a third of the value of their investment," he said. Advocating caution, Parekh said investors in real estate have to be more discerning. They should be more realistic on valuation expectations and not throw caution to the wind, he said. He also criticised the recent trend where housing loans are offered at attractive interest rates in initial years.
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  • Dear friends,

    Now that SBI has started the interest rate reduction war, though this may lead to some more interest in the home buying, the promoters are still not realistic with reference to the prices they quote to the buyers. They still believe there may not be futher downtrend on RE market and hardly much pressure on them to come down to more reasonable and realistic levels. Unless they come to the level what more people can afford to buy, the hide and seek on the prices will continue and only those with unaccounted money or those in dire need to own their flat/home may go in now.

    ks2071746
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  • Originally Posted by chataara
    Dear friend

    Mr. Nat is a graduate from IIT madras. He knows how to use words. No one needs to teach him lesson. He is the master of all arts.

    He is not only LAND BROKER, Share BROKER.. but expert in all field.

    Mind it

    Thanks

    chataara

    You misunderstood his words.He is not from IIT but ITI,worked as fitter,could not keep that job also and now making a living as a broker sucking others.
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  • Originally Posted by BigBear
    You misunderstood his words.He is not from IIT but ITI,worked as fitter,could not keep that job also and now making a living as a broker sucking others.


    Thanks Mr Bigbear

    I am not able to read between the lines.

    Thanks for the clarification.

    chataara
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  • Originally Posted by BigBear
    You misunderstood his words.He is not from IIT but ITI,worked as fitter,could not keep that job also and now making a living as a broker sucking others.

    Looks like these bear ids are transmutable! For months Bigbear id used to talk decently, suddenly he is asking for the spanking. It shows that there is a coterie which writes bearish on this forum for their ulterior motives!
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  • Originally Posted by BigBear
    Chairman of largest lender in India knows the exact scenario of RE than brokers (AKA mother of all pitchakarans) who have lost their jobs and earning only by sucking buyers.See his comments : Investors have pumped in $25 billion into the Indian real estate market over the last three years but with land values having gone down they could have lost a third of the value of their investment,"said Deepak Parekh,chairman,HDFC, in a letter to shareholders.
    Parekh said that the $25 billion are invested through IPOs, QIPs (qualified institutional placements), AIM listing (alternate investment market) and foreign direct investment. A large part of these funds were used for buying land at exorbitant prices.
    "With land values having come down, my estimate is that investors could have lost a third of the value of their investment," he said. Advocating caution, Parekh said investors in real estate have to be more discerning. They should be more realistic on valuation expectations and not throw caution to the wind, he said. He also criticised the recent trend where housing loans are offered at attractive interest rates in initial years.

    If you bought a flat and did not get possession like my friend then you are losing. However if your flat is ready there is hardly a loss.
    I have clearly explained in another thread today not to confuse with losses of RE companies. That in no way means RE is falling. It just means that
    Available and usable land will shoot up
    Available and usable flats will move up
    and
    Useless land and unavailable flats will be laggards
    Finally RE companies who made money out of thin air by cycling one clients money to build for another client will not be able to make astronomical profits as before.
    This means
    a. Dont buy RE company shares.
    b. Buy land in usable condition in liveable localities.
    c. If you can only afford a flat then buy a completed/almost completed flat.
    Finally
    d. Ignore these bears on this forum. If you are Christ you might say "they know not what they are saying". However in today's world such nicety to these unscruplous coterie of bear operators is not necessary.
    They can be classified as BPO guys writing here for a living.
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  • Originally Posted by Natarajg007
    If you bought a flat and did not get possession like my friend then you are losing. However if your flat is ready there is hardly a loss.
    I have clearly explained in another thread today not to confuse with losses of RE companies. That in no way means RE is falling. It just means that
    Available and usable land will shoot up
    Available and usable flats will move up
    and
    Useless land and unavailable flats will be laggards
    Finally RE companies who made money out of thin air by cycling one clients money to build for another client will not be able to make astronomical profits as before.
    This means
    a. Dont buy RE company shares.
    b. Buy land in usable condition in liveable localities.
    c. If you can only afford a flat then buy a completed/almost completed flat.
    Finally
    d. Ignore these bears on this forum. If you are Christ you might say "they know not what they are saying". However in today's world such nicety to these unscruplous coterie of bear operators is not necessary.
    They can be classified as BPO guys writing here for a living.



    There is someone who always writes and spams all the topics with his posts mainly on Thursday. I have been observing for past 3 months, this person mainly comes to write on Thursdays. After that he disappears for a week and than again comes on another thursday and spams the forum with his posts.

    I think that middle class person is having his weekly off on Thursday.
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  • by the way that person seems to have no work in other days too. May be he is spamming other forums on other days. :D
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  • Imagine!!!

    Originally Posted by Natarajg007
    Looks like these bear ids are transmutable! For months Bigbear id used to talk decently, suddenly he is asking for the spanking. It shows that there is a coterie which writes bearish on this forum for their ulterior motives!



    If BigBear id (I have heard of people being transmutable, but their ids being transmutable?!) needs spanking for one post, going by the number of your posts that deserves spanking, the "Natrajg007 id" deserves will turn the spanked spot black and blue! :D

    cheers
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  • I know Mr.Nataraj007

    I know Mr. Natarajn when I last met him he was runing a fast food restaurant in Adambakkam. He knew in and out of real estate business that time. I never thought he educated from IIT.

    Originally Posted by BigBear
    You misunderstood his words.He is not from IIT but ITI,worked as fitter,could not keep that job also and now making a living as a broker sucking others.
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  • chitter

    Hi Guys,

    uncivilised natter.


    The condition is similar to Pune, with its largest inventory of unsold flats in India. The ADs have continued with the same downward trend since last one yr. Every one agrees buyers have disappeared from mkt.

    The June saw few sales and greedy bldrs increased the price. But a DUD budget + BAD monsoon + New Tax code ; shouldn't th price decrease further
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  • Originally Posted by contra
    There is someone who always writes and spams all the topics with his posts mainly on Thursday. I have been observing for past 3 months, this person mainly comes to write on Thursdays. After that he disappears for a week and than again comes on another thursday and spams the forum with his posts.

    I think that middle class person is having his weekly off on Thursday.

    U seem to have a better track of my writing habbits than me. Thank you contra. Though I write when I find time it looks like your useful research means that I am able to come to some semblance of calmness on Thursday and hence able to spend time then. THanks for this info. It will help me plan my week.
    As for the rest of your crap. You are a BPO employee and you talk about rest day. I am a free bird and can fly anytime anywhere. So keep your middle class story low. It wont hurt me, since I know what I am worth and I know you work in a BPO.
    Cheers.
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  • Originally Posted by Sansei
    Hi Guys,

    uncivilised natter.


    The condition is similar to Pune, with its largest inventory of unsold flats in India. The ADs have continued with the same downward trend since last one yr. Every one agrees buyers have disappeared from mkt.

    The June saw few sales and greedy bldrs increased the price. But a DUD budget + BAD monsoon + New Tax code ; shouldn't th price decrease further

    Can you tell me to what level you expect the RE in pune to correct to? 2003 levels, 2000levels..? Also can I assume your salary corrects to that level? I will love to see the latter!
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  • Originally Posted by Natarajg007
    U seem to have a better track of my writing habbits than me. Thank you contra. Though I write when I find time it looks like your useful research means that I am able to come to some semblance of calmness on Thursday and hence able to spend time then. THanks for this info. It will help me plan my week.
    As for the rest of your crap. You are a BPO employee and you talk about rest day. I am a free bird and can fly anytime anywhere. So keep your middle class story low. It wont hurt me, since I know what I am worth and I know you work in a BPO.
    Cheers.


    Look at the frustated uncle who himself said all he acheived was upgrading from middle class to upper middle class.

    This uncle is still struglling to find a buyer for his tiny plot in saligramam. He doesn't even know how to sell.

    Out of his frustation and desperation spams the forum. At least he called me a BPO employee which is decent compared to what he called others.
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  • Originally Posted by sundardj
    I know Mr. Natarajn when I last met him he was runing a fast food restaurant in Adambakkam. He knew in and out of real estate business that time. I never thought he educated from IIT.

    Did you try buying moolai or sundal then?
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