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Real estate going down in Chandigarh (Finally)

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Real estate going down in Chandigarh (Finally)

Last updated: August 8 2011
12 | Posts
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  • #11

    #11

    Re : Real estate going down in Chandigarh (Finally)

    Got one call from a broker who claimed there are sudden availability of plots in main shiwalik city and he could arrange price between 17K to 18K. Nothing was available there below 20K few days back. Could be a panic reaction from any investor due to todays market fall...

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    • #12

      #12

      Re : Real estate going down in Chandigarh (Finally)

      Originally posted by Eshtyle_Raja View Post
      Got one call from a broker who claimed there are sudden availability of plots in main shiwalik city and he could arrange price between 17K to 18K. Nothing was available there below 20K few days back. Could be a panic reaction from any investor due to todays market fall...
      Is Shivalik City in Mohali?

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      • #13

        #13

        Re : Real estate going down in Chandigarh (Finally)

        Chances of price reduction in and around Chd

        You got a call from the broker because there is announcement from GMADA (expected any time) where plots would be sold in Mullanpur and Sec 123/124 for which land is being secretly acquired (i am being forced to sell my land). All this has to be done before election notification from Punjab govt is issued (expectation of Congress coming into power and Akalis out). There is a huge rush to make money so there will be a release of lots of plots in next 3-4 months.

        With regards to price reduction it was expected in Chd city but outside there is a surge. I bought a plot at almost 25K/sq yard from EMAAR MGF on 28th July (almost all sold out) and within 2 weeks it has increased to 28K. The affordability is still there with lot of development expected like: City centre, IT park in Seneta, Transport nagar, EMAAR MGF mall (ready in next 3 months), Metro line (thought long term), express way etc. People are looking to sell a family owned house to buy separate properties for children and being part of the new era. Prices may stabilise/rise or crash depending upon world sentiments or how India performs not much on local factors any more. It would happen eventually like it did in UK (where i am from last 10 years), USA (where i was), Spain and Portugal (where i saw it happening) and Dubai (we all saw what happened). Everything that goes up has to come down and then go back up again. People who buy low "laugh", people who buy high "stress" but still hold on to it. Eventually there will be stabilization with 5-10% all the time.......which i see another 2/3 years away. Right now is the time to make the most of it with India rising sentiments. That is what all the big MNC's are doing with launching new cars/projects etc. Good luck!!
        Last edited August 8 2011, 06:40 PM. Reason: Spellings

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