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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  • Frankly speaking, i am on the verge of giving up hopes too.

    People were predicting that the prices will come down post March becoz of repayment pressures on Developers...its past June quarter now, no change. Maybe the banks want to maintain the volumes on their loan books and are therefore not putting pressure on RE companies to repay. Am sure all of the banks have promptly restructured the loan tenure. there is a lot of PE money being pumped in the RE sector. May be the developers dont have funding pressures at all.

    The interest rates have increased significantly after that, still no change.

    There is so much hue & cry about corruption and black money and we know a lot of that is parked in RE...still no change in the prices.

    in fact i feel that i will miss the bus this time again.
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  • own consumption vs investment

    if you are buying for own consumption and can afford(I.E banks are willing to give you loan after own contribution ) there is nothing called as a good or a bad time .. but if you want to invest then pls stay away .
    look at the IB thread builder has promised the moon and now ppl find out that it is a SRA ..

    I am looking for either ready possession or second sale .. atleast you know what you are getting into ..you get my drift

    Originally Posted by rembrants
    Frankly speaking, i am on the verge of giving up hopes too.

    People were predicting that the prices will come down post March becoz of repayment pressures on Developers...its past June quarter now, no change. Maybe the banks want to maintain the volumes on their loan books and are therefore not putting pressure on RE companies to repay. Am sure all of the banks have promptly restructured the loan tenure. there is a lot of PE money being pumped in the RE sector. May be the developers dont have funding pressures at all.

    The interest rates have increased significantly after that, still no change.

    There is so much hue & cry about corruption and black money and we know a lot of that is parked in RE...still no change in the prices.

    in fact i feel that i will miss the bus this time again.
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  • I agree

    I agree with boldm28, I am also leaning toward ready possession, second sale for self consumption there is no point in booking in under construction with such a high rate, with such a HIGH loading and such a HIGH extra payments like VAT, Service Tax etc but no guaranty on quality or when to get possession.
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  • Ready to move flat is exactly what I need and hence my first choice. But all resale flats demand a lot of cash in the transaction which i want to avoid.

    also the builders due to slump may be ready to negotiate, investors/ house owners dont negotiate at all

    a fresh flat with latest fittings may be a little high priced, but even buildings which are 8-10 years old demand the same price? how is that justified?
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  • Got an offer today from one of the investors of DB realty, goregaon project. Offering a 4 bhk flat at Rs.7000 on 30th floor. Offer Seems lucrative but very very risky. what do you think guys?
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  • not a good idea -- unless it is ready possession

    not a good idea -- unless it is ready possession
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  • DB exposure

    Originally Posted by ankilsanghvi
    Got an offer today from one of the investors of DB realty, goregaon project. Offering a 4 bhk flat at Rs.7000 on 30th floor. Offer Seems lucrative but very very risky. what do you think guys?


    If you really want exposure to DB's propsect - you can buy DB shares. Here the assumption is that if DB can outlive the crisis - the project will be completed and share price will also increase.

    Now the price increase in DB property and share may not be equivalent. Also if DB sells developement rights for this property - property will make more money than stock investment.
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  • Originally Posted by ankilsanghvi
    Got an offer today from one of the investors of DB realty, goregaon project. Offering a 4 bhk flat at Rs.7000 on 30th floor. Offer Seems lucrative but very very risky. what do you think guys?


    Indeed it's a risk but investigate and make it a calculated risk. Find a partner(s) and buy it as an investment so the impact can be lowered. Invest only what you can easily hold for next 4-5 years. I would have gone for it but since I already bought my flat last week, dont have any money left.

    One thing is sure. You can not make money without risks. Risk is everywhere, in all transactions. It all depends on how much you can afford and upto what extent(timeline).
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  • Risk taking is an individuals ability to ride the risk. This does not seem to be risk but more likely it would occur..
    There is no point in waiting for 10 years for your flat.. and who knows whether it will be completed.. and is it the right amount..
    It is all subjective.. and if the situation persists.. you might have the flat available for 6000 psf.. and no bank will be ready to put in money into DB and investors might not bring in fresh capital.. it is a very troubled couple of years for DB realty..

    If you are not bothered about your money for 10- 15 years.. maybe you can get in.. but my reading is there will be better deals available.. Life is not so easy going forward for the builder community..

    Originally Posted by Newcomer
    Indeed it's a risk but investigate and make it a calculated risk. Find a partner(s) and buy it as an investment so the impact can be lowered. Invest only what you can easily hold for next 4-5 years. I would have gone for it but since I already bought my flat last week, dont have any money left.

    One thing is sure. You can not make money without risks. Risk is everywhere, in all transactions. It all depends on how much you can afford and upto what extent(timeline).
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  • Do you really need to?

    Originally Posted by ankilsanghvi
    Got an offer today from one of the investors of DB realty, goregaon project. Offering a 4 bhk flat at Rs.7000 on 30th floor. Offer Seems lucrative but very very risky. what do you think guys?



    You need to ask them if they will provide the following ...

    1. A safety net at the 1st floor. :D

    2. A safety net (of a different kind) in case ...

    - Balwa's situation goes from bad to worse & Co goes down the tube halfway down the project

    - against interest rate hikes & price hikes later

    Is this a great deal?

    If not, apart from looking at other projects, why not just wait for the correction & perhaps buy the same at 6000 later when you have more cash & flat is closer to delivery!!!:)

    cheers
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  • Early Signs?

    On the discussion subject, Groffr is offering Neptune 100 (Bhandup W) at 500 psf discount, this from the image (which is of Neptune 100 above) they have used, they havent mentioned the project details though.

    Are these early signs of corrections by the B Class builders first or the project was anyways over priced at 7371/-??
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  • ankilsanghvi;199575]Got an offer today from one of the investors of DB realty, goregaon project. Offering a 4 bhk flat at Rs.7000 on 30th floor. Offer Seems lucrative but very very risky. what do you think guys?


    Hi Ankil, I would go for the DB Orchid Woods 7k. The structure is ready and bank funded so i don't foresee Shahid Balwa's recent stint with the CBI as a deterrent. If you are not progressing with it then send me the inverstors deatils as a PM and i will pick it up.

    GD


    Hi Ankil, I would go for the DB Orchid Woods 7k. The structure is ready and bank funded so i don't foresee Shahid Balwa's recent stint with the CBI as a deterrent. If you are not progressing with it then send me the inverstors deatils as a PM and i will pick it up.

    GD
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  • ur paying 7,000 for an attached CBI property. I wouldnt even pay 100 rupees for it
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  • Hi,

    I believe there is a "transfer fee" if the investor sells within the lock in period. Apparently it is 100% of the transaction price. So if u pay 7000 psf for the flat, u'll have to pay a similar amount to the builder (DB Reality) as transfer fee. Unless u pay, the builder will not hand over the possession.

    The above clause is put in the agreement with pre launch investors so that they dont end up selling flats at lower then builder rates or even before builder exhausts his own inventory

    PLease check whether the "transfer fee" concept is applicable for this investor. If yes, please confirm who will bear it.

    Do post the response you get for us to know
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  • Transfer fee here is Rs.600/sq.ft & will be shared by investor & buyer. The maximum transfer fees I've heard is in VishnuShivam, kandivali, its Rs. 1500
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