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No Property sales for the last one year in Chennai

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No Property sales for the last one year in Chennai

Last updated: August 17 2009
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  • Re : No Property sales for the last one year in Chennai

    Not quite out of the woods can mean anything ...

    Originally posted by chataara View Post
    Dear friends

    Here is real state of indian real estate. Go through this thread

    ]http://content.****************/top-realty-companys-take-a-76-net-hit[/url]

    Magicbricks says :
    India’s struggling realty industry may have sprouted some green shoots of late, but the top nine listed real estate firms posted a 76% dip in profit and 57% fall in sales in the June quarter, prompting the segment leader to observe that the industry is not “completely out of the woods”. ...

    Thanks

    chatara
    Folks,

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

    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
    Last edited August 7 2009, 11:06 PM.

    Comment


    • Re : No Property sales for the last one year in Chennai

      Originally posted by wiseman View Post
      Folks,

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

      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.
      Last edited August 8 2009, 04:02 AM.

      Comment


      • Re : No Property sales for the last one year in Chennai

        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

        Comment


        • Re : No Property sales for the last one year in Chennai

          Originally posted by chataara View Post
          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.

          Comment


          • Re : No Property sales for the last one year in Chennai

            Originally posted by BigBear View Post
            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

            Comment


            • Re : No Property sales for the last one year in Chennai

              Originally posted by BigBear View Post
              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!

              Comment


              • Re : No Property sales for the last one year in Chennai

                Originally posted by BigBear View Post
                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.

                Comment


                • Re : No Property sales for the last one year in Chennai

                  Originally posted by Natarajg007 View Post
                  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.

                  Comment


                  • Re : No Property sales for the last one year in Chennai

                    by the way that person seems to have no work in other days too. May be he is spamming other forums on other days.

                    Comment


                    • Re : No Property sales for the last one year in Chennai

                      Imagine!!!

                      Originally posted by Natarajg007 View Post
                      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!

                      cheers

                      Comment

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