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Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

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Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

Last updated: August 19 2010
14 | Posts
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  • #11

    #11

    Re : Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

    May be, but I will tell you this real story. I had a shop in one of the malls. Once, mall manager told me... newspapers / writers will publish what you tell them to publish, if you can afford them. I can not narrate the specific incident he told me... but I don't belive media folks since then. They will do anything for the money.

    Originally posted by donkeykong View Post
    to a larger point, doesnt this disprove the fact that there is a nexus between the building and newpapers? I mean this artcile highlights atleast some basic resistance by media to accept the RE prices in mumbai
    Last edited by sweetboy; August 11 2010, 09:18 AM.
    Mitti se aya hai... mitti mein mil jaayega!
    :bab (65)

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    • #12

      #12

      Re : Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

      This is hard to believe unless someone has real data. All speculation adding to anxiety for poor property buyers like us.

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      • #13

        #13

        Re : Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

        Originally posted by donkeykong View Post
        to a larger point, doesnt this disprove the fact that there is a nexus between the building and newpapers? I mean this artcile highlights atleast some basic resistance by media to accept the RE prices in mumbai
        Not really. If you read the article carefully - its more of a "factual" article (house buying has dropped, builders are not bothered) rather than an "opinion". Most of TOI's articles are opinion and they have very carefully steered away from giving any in that article. If anything - the article is better for the builders than for buyers - because it flat out says that the builders will not drop their prices even though flat sales are down. Its like an open declaration by builders - on the front page of the leading national newspaper - that they are not going to come down with their prices. Well disguised and serves the builders purposes 100%.

        I for one think that the house prices will never come down unless the industry is more transparent - there is way to much "dirty" money in the business for the prices to correct.

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        • #14

          #14

          Re : Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

          Thats a good observation... However I don't know how long the builders will hold on to prices if it simply does not sell....
          See there will be a drop on sales.. but if it persists for a year all this bravado will vanish because investors will also panic..
          I am not saying buyers will hold on.. but apartments are simply unaffordable.. I cannot dream of buying at 1 cr+ and if things get worse, I will try to move out of this city..
          Yes there will be a TV star/ movie star / business man buying at 2 crores and 3 crores.. but there are not many.. it will be 30 to 40% onlu

          Originally posted by korchha View Post
          Not really. If you read the article carefully - its more of a "factual" article (house buying has dropped, builders are not bothered) rather than an "opinion". Most of TOI's articles are opinion and they have very carefully steered away from giving any in that article. If anything - the article is better for the builders than for buyers - because it flat out says that the builders will not drop their prices even though flat sales are down. Its like an open declaration by builders - on the front page of the leading national newspaper - that they are not going to come down with their prices. Well disguised and serves the builders purposes 100%.

          I for one think that the house prices will never come down unless the industry is more transparent - there is way to much "dirty" money in the business for the prices to correct.

          Comment

          • #15

            #15

            Re : Flat Sales Drop 30-50% Due To Inflated Rates In Mumbai

            agree on most of the post of sales dropping. Most ppl. who have got flats now say that flats prices will never will be lesser than 1-1.5cr for a 2bhk and those who have not got one have missed the bus.

            Hope prices come to some sane levels for genuine seekers and govt. takes steps to curtails prices.

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