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Property Prices on Internet Vs Real

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Property Prices on Internet Vs Real

Last updated: April 16 2013
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  • Property Prices on Internet Vs Real

    Just wanted to get some opinion from RE guru's about the prices which are quoted in internet websites and real price they offer.

    I do realize it varies but my pas experience is usually the price in the internet of reputed builders are 10-20% higher ..

    is it always the case or just some one off cases. It will help some of the prospective buyers to do be informed and negotiate better !
  • #2

    #2

    Re : Property Prices on Internet Vs Real

    From my experience and what I hear from folks. internet prices are just indicative and once you sit on the table and they see you as a serious buyer and u can show they u r ready to seal a deal, then they become a bit flexible with the price..
    Maybe they don't reduce the base price, but negotiate on the plc / servant quarter chrgs/ parking price etc.. but they do it..

    Internet price can be taken as the max price and unless its a hot property ( unlikely IMHO considering the current market situation), you should get a decent deal..but I would not expect a 20% difference.. more like 5 - 10% ..

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    • #3

      #3

      Re : Property Prices on Internet Vs Real

      I was looking for a property in Godrej Prakriti. Contacted the builder regarding pricing and/or any discount. They said they don't discount even Rs. 1. Is that true? Does anyone here have any experience with Godrej?

      I mentioned other reputed builders doing it. They said once they discount one guy and as others find out their CS department floods with grievance letters, phone calls and bad publicity over the net.

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      • #4

        #4

        Re : Property Prices on Internet Vs Real

        Typically reputed builders don't offer discount on bp as it might be seen as unfair advantage compared to other buyers. However, they are more flexible on payment schedule, choice of flat or other terms & conditions. On the other hand, there are many hidden charges (specially in Kolkata) which the builders do not mention on internet which actually adds up the price (like transformer cost, municipal tax deposit etc).

        Overall, under normal circumstances, the price you see, if updated regularly, is a fair reflection of the price you have to pay if you close the deal.

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        • #5

          #5

          Re : Property Prices on Internet Vs Real

          I believe, the price difference is atmost 5% between Internet sites and sit-across-table. Having said that, I never ever experienced even a 5% cut across table even once; that's because I may not be a good negotiator or I went chasing for a hot property !!

          Also, not to forget that NOT all these websites get updated real-time or near real time, but usually have a latency.

          My best practise is that followup with as many brokers/middlemen/market forums to get a best buy sense first, before you do your sit-across-table negotiation directly with the builder. Ofcourse, it needs lot of tact so as to not fall in Infamous broker trap.

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          • #6

            #6

            Re : Property Prices on Internet Vs Real

            Internet prices can be considered as the maximum price and the deal is set at lower cost in maximum cases.

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