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The Real State of Real Estate

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The Real State of Real Estate

Last updated: August 25 2013
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  • The Real State of Real Estate

    Friends- This forum has been very slow lately. I usually come here once every other day looking for news, information and recent happening. Since I am out of country and don't know the street view of things I figured I will ask a few question:

    With current economic and political mood what is the effect on real estate. I have good friend who is in sales for big builder tells me that there has been slow down in last couple of months.

    Cash crunch for builders. With most recent developments of a few builders defaulting on their loans what is the effect in kolkata real estate?

    I recently received several promotional offers from builders is this sign of things slowing down or just tactics of clearing odd inventory?


    Looking forward to some feedback.

    cheers
  • #2

    #2

    Re : The Real State of Real Estate

    My perception - state of RE is just a reflection or after effect of the state of economy. We are back in 1990, may not be just the same kind of contours, but quite similar. Just like there was a shift in mindset of the-then political leadership, which probably saved the country from defaulting, a massive drive of similar scale or even higher is needed now. General elections are at least a couple of quarters away, which means no decisive action until then, but all populist vote politicking will continue, eventually dragging the nation towards a bigger hole. People are facing massive social dis-integration challenges - that's why you see frustrated youth take to such heinous acts as in Mumbai this week and on the other side, people have also realized that building something new and innovative will need a real man of deeds to which no one is ready to commit that much. This all results in society getting into a dis-balanced course where no positivity is seen around. People are always on the lookout of situations where one could cheat others of their possession rather than getting their spines upright to build one for their own.

    In that light, the minds of normal Ram/Shyam is pre-occupied with other things that suffices their opportunist or quick money syndrome based mindset rather than petty things like RE investment which starts to face the brunt. No location has seen even a marginal appreciation this year.

    And then unfortunately there are opportunists who pretend cash crunch as far as their investors are concerned, but certainly not when you see them splurge on other luxuries privately. They will also not shy away from defaults. They know it all and seen it all multiple times. They know what or how to fake bad as worse.

    Projects have all started to go slow in wait-watch mode. The general advise is to sit on cash but certainly jump on a good deal if you pass by; as they only show up now.
    Last edited August 25 2013, 07:39 PM.

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    • #3

      #3

      Re : The Real State of Real Estate

      Currrent Economic Scenario of India

      Click image for larger version

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      Food Security Bill will be a curse to Indian Economy in this current stage.

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