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Reasons for fall of OMR Prices

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Reasons for fall of OMR Prices

Last updated: February 19 2009
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  • Reasons for fall of OMR Prices

    Now every one knows. IT has hit hard. Effect is properties in OMR are facing fall in prices.

    How much fall is expected in flats and lands in OMR.

    Whether there is any chance to go up in the near future of it will fall continously in another two years also.
  • #2

    #2

    Re : Reasons for fall of OMR Prices

    Now it is well known that 50% of the people who booked in DLF flats in OMR are cancelling.

    DLF project itself is now a question mark

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    • #3

      #3

      Re : Reasons for fall of OMR Prices

      Originally posted by Nataraajg007 View Post
      Now it is well known that 50% of the people who booked in DLF flats in OMR are cancelling.

      DLF project itself is now a question mark
      Understand that majority of these DLF buyers would have entered when the price was Rs 2800-3000 per SQFT . But still they feel that its overpriced and its good sign that people have started looking at the value of the money.Not just the hype created in market.

      And its also good learning that we dont go by the brand name and face value.

      Many companies/individuals are only interested in maximising their profit and pls dont get carried away by the false promises until you realise it/get it in writing.

      This trend will soon follow in other high-priced project .
      Last edited February 11 2009, 07:20 PM.

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      • #4

        #4

        Re : Reasons for fall of OMR Prices

        More over DLF is in dire need of funds. This project may not take off at all

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        • #5

          #5

          Re : Reasons for fall of OMR Prices

          Originally posted by Nataraajg007 View Post
          Now it is well known that 50% of the people who booked in DLF flats in OMR are cancelling.

          DLF project itself is now a question mark
          Is it true that there are many cancellations in DLF garden city.?. What is the source of information.

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          • #6

            #6

            Re : Reasons for fall of OMR Prices

            Not only DLF it will be having a tough time for all the company. I will ask all member to think on your investment on RE... Think if you are getting VFM or not ...
            Either land or AIR and FOOD. Choice is yours.

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            • #7

              #7

              Re : Reasons for fall of OMR Prices

              Originally posted by paul1970 View Post
              Is it true that there are many cancellations in DLF garden city.?. What is the source of information.
              See today's THE HINDU.

              In OMR lot of unoccupied buildings, no takers for buying land or plots

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              • #8

                #8

                Re : Reasons for fall of OMR Prices

                http://www.hindu.com/2009/02/12/stor...1258520300.htm

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                • #9

                  #9

                  Re : Reasons for fall of OMR Prices

                  Originally posted by ajithpkl View Post
                  http://www.hindu.com/2009/02/12/stories/2009021258520300.htm
                  Thanks for the details.

                  There are some fineprints below that have been discussed long back by many here.At last we could see those who were in denial mode now move to the acceptance stage.

                  http://www.hindu.com/2009/02/12/stor...1258520300.htm

                  “The areas around the IT Corridor were among the first to experience an escalation in land prices. It is also the first to experience a considerable reduction in the prices following the economic crisis,” said M.K.Sundaram, Chairman of the Builders Association of India-South Centre.

                  “We have to accept that it is a time for inflated land prices to come to reasonable levels,” explains Mr.Sundaram.

                  “Around 30 per cent of the land near the IT Corridor is available for sale. But there are no takers,” said G.Mohan, Secretary, Federation of Tamil Nadu Flat and Housing Promoters Association.

                  When more and more percentage of lands are available , more will be the crash.

                  The IT/ITES salary trend is moving downwards , the RE prices will plunge to realistic levels . As rightly stated by DLF Vice President that it will be corrected to Inflation adjusted 1998 Prices.

                  Keep watching until it goes to realistic levels and you see value for money.
                  Last edited February 12 2009, 05:05 PM.

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                  • #10

                    #10

                    Re : Reasons for fall of OMR Prices

                    Friends

                    Today DLF has stopped two of its mega projects due to liquidity crunch.

                    Both these projects had been launched last year in january and August.

                    Thanks

                    chataara

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