It seems prices has started falling in Mumbai, many builders have started quoting less than what is being advertised, also many flats owners have reduced their prices to sell their flats as soon as possible before the price drops more, any first hand input welcome...:D
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  • Originally Posted by ankilsanghvi
    The one who has more patience will win.But at these prices buyers are forced to not buy the flats, even if they are impatient. Though a builder increases the prices for his reputation against investors, they secretly sell at lower prices than investors. I 've met some of those kinds. payin 25% interest will not be an easy task if sales continue at current pace.



    please quote examples where you have seen builders sell below investors rates. I am tracking property prices very keenly; so far i have not seen any price correction any where.
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  • +1. no correction so far. Sale has been slow since the abolition 10:90 scheme by RBI. Even enquiries have slowed as people are waiting for a correction + the interest rate hike is beginning to have an impact. It is a slow game.. Pressure will be only on uc properties and not so much on completed or second sales

    Originally Posted by rembrants
    please quote examples where you have seen builders sell below investors rates. I am tracking property prices very keenly; so far i have not seen any price correction any where.
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  • even if OP posts a deal will you take that at face value

    Originally Posted by rembrants
    please quote examples where you have seen builders sell below investors rates. I am tracking property prices very keenly; so far i have not seen any price correction any where.


    even if OP posts a deal will you take that at face value, if such deal happen they happen with just " jaban"( tongue) and not on paper.
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  • Originally Posted by rembrants
    well..builders will agree/ may agree/ secretly agree for discounts are vague statements. I have not seen any prices correct in any projects, or for that matter even in resale flats.

    Flats are getting resold in far fledged areas like Kandivali east, (building name: Challenger Heights) also for over 1 cr. I know of a definite deal. Do u know of a deal where u have seen actual price correction? If yes, then please quote it; If not then dont make statements based on "feelings"


    hi

    I think the above statement needs some correction. A flat was sold in Kandivali East for above 1 Crore. And not flats are sold.....

    In Ghatkopar (East area) I have not heard of transactions occuring. If you know any, please let us know. Your assistance is appreciated.
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  • Mumbai floor space index up; city due for realty boom - The Economic Times

    FSI for Mumbai redevelopments increased to 3 from 1.7-2.

    Increase of FSI will bring down prices somewhat but I think the value of the unit would also go down.
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  • Originally Posted by boldm28
    even if OP posts a deal will you take that at face value, if such deal happen they happen with just " jaban"( tongue) and not on paper.



    of course RE deals happen on paper!!!
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  • what i meant was even if you know some one got a good deal

    Originally Posted by rembrants
    of course RE deals happen on paper!!!


    what i meant was even if you know some one got a good deal and the builder/house owner says no , i am not ready to sell the flat to you for the same price I sold it to some one else .. you cant do anything about it

    I am talking about my personal experience

    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/3641-suggestions-duplex-flat-for-66l-velacehry-chennai?p=124749#post124749

    two flats facing each other excatly mirror images .. one gets sold for 79 lacs and I offer him 80 lacs for the other flat and he refuses and says he wants 90 lacs and I talked to him not even a month after he sold his other flat
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  • Originally Posted by rembrants
    please quote examples where you have seen builders sell below investors rates. I am tracking property prices very keenly; so far i have not seen any price correction any where.


    I 've been looking for a flat since last one & half years & I 've seen builders sell at lesser price than investors. At kalpataru Aura ghatkopar, investors are quoting above 11.5k . The builder initially quoted 12.5k but after hard negotiations he came down to 11k all including floor rise & parking. I have offered him 10k & waitin for his reply. At pushpa vinod at borivalli investors are quoting 10.5k & builder is also quoting the same price which is even negotiable. At Neelkanth Kingdom in Vidhyavihar(W) investors are quoting 11 k & builder has started selling flats at 10k. He has got somewhat 150 flats with him. He badly broke investors. At lokhandwala Kandavali an investor quoted 12k for a raw flat before a month & I got a call from his agent just yesterday that he is ready to sell that same flat, now fully furnished at 9.5k. A source of mine Working on a good position with Wadhwa developers says only 4 flats are sold at Wadhwa Aquaria and just 12 flats at wadhwa address. A friend of mine bought a flat in under construction building in worli at 19k which is a good deal. At Mamta heights, devidas lane borivali an investor is quoting 10k & higher floor investor is askin for 13k , both the flats remain on the market from last 2 years. At Vishnu shivam building in Thakur village, out of 360 flats most of them are unsold & builder has stopped the work of other projects due to money crunch. At purie apartments in borivali out of 70 only 30 flats have been sold even after building has completed above 1 yr . File an RTI with kandivali, borivali & Ghatkopar registeration offices and you will come to know how many flats have been sold to real occupiers coz Investor flats are considered to be on Market. I am able to share this coz many of my friends are well established and working in RE market from many years & Some of them are also builders.
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  • Originally Posted by ankilsanghvi
    I 've been looking for a flat since last one & half years & I 've seen builders sell at lesser price than investors. At kalpataru Aura ghatkopar, investors are quoting above 11.5k . The builder initially quoted 12.5k but after hard negotiations he came down to 11k all including floor rise & parking. I have offered him 10k & waitin for his reply. At pushpa vinod at borivalli investors are quoting 10.5k & builder is also quoting the same price which is even negotiable. At Neelkanth Kingdom in Vidhyavihar(W) investors are quoting 11 k & builder has started selling flats at 10k. He has got somewhat 150 flats with him. He badly broke investors. At lokhandwala Kandavali an investor quoted 12k for a raw flat before a month & I got a call from his agent just yesterday that he is ready to sell that same flat, now fully furnished at 9.5k. A source of mine Working on a good position with Wadhwa developers says only 4 flats are sold at Wadhwa Aquaria and just 12 flats at wadhwa address. A friend of mine bought a flat in under construction building in worli at 19k which is a good deal. At Mamta heights, devidas lane borivali an investor is quoting 10k & higher floor investor is askin for 13k , both the flats remain on the market from last 2 years. At Vishnu shivam building in Thakur village, out of 360 flats most of them are unsold & builder has stopped the work of other projects due to money crunch. At purie apartments in borivali out of 70 only 30 flats have been sold even after building has completed above 1 yr . File an RTI with kandivali, borivali & Ghatkopar registeration offices and you will come to know how many flats have been sold to real occupiers coz Investor flats are considered to be on Market. I am able to share this coz many of my friends are well established and working in RE market from many years & Some of them are also builders.


    I wanted to ask, since you have been looking for over a year and half what will be your ideal location/price or what criterion will actually make you buy.

    Also, based on everything that has been posted by analysts, they expect this state of affairs to continue for the next year or two. Would you be still be buying then or will you wait and hope to buy at the bottom?
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  • Originally Posted by rayan_nc
    I wanted to ask, since you have been looking for over a year and half what will be your ideal location/price or what criterion will actually make you buy.

    Also, based on everything that has been posted by analysts, they expect this state of affairs to continue for the next year or two. Would you be still be buying then or will you wait and hope to buy at the bottom?


    Analysts & builders look for their own benefit. I don't think this will continue in next year too. The real time conditions mark that the prices are on the verge of falling down infact they r getting down. I 'm actually looking for a flat at Ghatkopar but since the quality of flats & buildings in western suburbs is more better I m considering those areas too.
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  • I was thinking of buying in wadwa? did you have a look at it?since you said that u are looking in ghatkopar why don't you see this?
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    Can you(anyone else) guide me to a website/blog where I can find some tips to keep in mind while buying a house. I am looking to purchase a 2 bedroom house in Bangalore. After a lot of research I have been guided to Pebble Bay Apartments. It is a venture of The Advantage Raheja group which is headed by Aditya Raheja. Now Aditya Raheja's Pebble Bay does not have many reviews on the internet. Can anyone guide me to one?

    Also anyone living here in Aditya Raheja's Pebble Bay or know anyone living and or have purchased Aditya Raheja'sPebble Bay Aprtments? Please let meknow.

    Thanks In Advance
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  • Originally Posted by ankilsanghvi
    I 've been looking for a flat since last one & half years & I 've seen builders sell at lesser price than investors. At kalpataru Aura ghatkopar, investors are quoting above 11.5k . The builder initially quoted 12.5k but after hard negotiations he came down to 11k all including floor rise & parking. I have offered him 10k & waitin for his reply. At pushpa vinod at borivalli investors are quoting 10.5k & builder is also quoting the same price which is even negotiable. At Neelkanth Kingdom in Vidhyavihar(W) investors are quoting 11 k & builder has started selling flats at 10k. He has got somewhat 150 flats with him. He badly broke investors. At lokhandwala Kandavali an investor quoted 12k for a raw flat before a month & I got a call from his agent just yesterday that he is ready to sell that same flat, now fully furnished at 9.5k. A source of mine Working on a good position with Wadhwa developers says only 4 flats are sold at Wadhwa Aquaria and just 12 flats at wadhwa address. A friend of mine bought a flat in under construction building in worli at 19k which is a good deal. At Mamta heights, devidas lane borivali an investor is quoting 10k & higher floor investor is askin for 13k , both the flats remain on the market from last 2 years. At Vishnu shivam building in Thakur village, out of 360 flats most of them are unsold & builder has stopped the work of other projects due to money crunch. At purie apartments in borivali out of 70 only 30 flats have been sold even after building has completed above 1 yr . File an RTI with kandivali, borivali & Ghatkopar registeration offices and you will come to know how many flats have been sold to real occupiers coz Investor flats are considered to be on Market. I am able to share this coz many of my friends are well established and working in RE market from many years & Some of them are also builders.

    Have been looking for one myself since last 2 yrs.

    Btw had visited Vishnu Shivam recently, the quality of the construction looks good and the building looked like 6-8 months away from possession.

    I had seen this one around 3 1/2 yrs ago also, but i know that due to dispute ( i think with Thakur builders, not sure) it was on hold.

    The front desk is quoting 12K + flr rise, i didnt talk to the builder, but got to know that he's quoting around 10K.

    The builder looks to be eager to sell as has a lot of inventory i think, this is the right time to for a group discount if anyone is interested to explore this option.
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  • "The builder looks to be eager to sell as has a lot of inventory i think, this is the right time to for a group discount if anyone is interested to explore this option."

    Is it so?
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  • Originally Posted by ankilsanghvi
    Analysts & builders look for their own benefit. I don't think this will continue in next year too. The real time conditions mark that the prices are on the verge of falling down infact they r getting down. I 'm actually looking for a flat at Ghatkopar but since the quality of flats & buildings in western suburbs is more better I m considering those areas too.


    I think I would be also interested in knowing about yours view on Wadhawa's quality? It seems all this builders will never come out publicly for lower than 8,000 after all corrections? What you think based on your read?

    Regarding cost to own/invest - The maintenance at Wadhawa is about Rs. 3 lacs. now think about if Real estate prices does not increase at like 10% a year. Investors will start lossing money rather than making any?
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