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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  • It is very clear that oberoi splendour is almost empty..just walk beside the road..not many lights on at night..however many flats are also owned by investors, nris.
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  • people in ashokvan asking 85 lac for a 2 bed and get it

    people in ashokvan asking 85 lacs for a 2 bed and get it , so I think investors are still able to find bigger suckers.. cause if they did not have suckers they would not buy a 2 bedroom flat in ashokvan Daishar e ..
    800 sqft so they are more suckers
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  • We pay transfer charges in lakhs to these money hungry builders but the rule has changed now. I had chat with a friend of mine who is on a higher position in the leading Real Estate Company of Mumbai. He told me that the government rule has changed since a month and now you don't need Builder's NOC or transfer letter for paying Stamp duty and Registration charges, previously for which builder's NOC was needed. So once registration charges & stamp duty are paid, all legal work is done & you are the legal owner of the flat. This is possible & true even when you are taking a loan.
    Some of (ALL) the builders still take advantage of people who do not know about this rule. It will take time for masses to be aware of this rule. So now if builder asks you to pay 'p, DO NOT PAY TRANSFER CHARGES.
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  • Real estate residential projects withnesses drop in sales.

    Originally Posted by tubaibabu
    This is the time to act by the realty user community. Take the following steps to accelerate the fall of realty price to reasonable level.


      Refrain from buying.
      Spread the news of impending big fall in realty price at every forum.
      This will save lot many people from bankruptcy.


      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.

      Dear Friends,

      Many of us are suffering from the increase in real estate prices and gundaraaj of the builders, agents and bankers relationship investment managers.

      WHEN ANNA HAZAARE ASKS YOU YOUR SUPPORT TO FIGHT CORRUPTION WE ALL VOICE A STRONG STAND TOGETHER, PLEASE TAKE AN INITIATIVE IN ANY SORT TODAY WHICH CAN HELP US IN FUTURE. I/WE SURELY ARE FED UP OF THIS INFLATION STORY WHICH THE MEDIA IS SELLING TO THE COMMAN MAN. THE REAL ESTATE PRICES OF MUMBAI IS HIGHER THAN SOME PARTS OF THE USA, SOMETIMES I FEEL SO HELPLESS. PLS HELP ME ADDING MORE WORDS AND VOICES TO THIS STORY. THANKS.
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  • I think we all believe prices are too high or have increased too fast. Sales have dropped but still some transactions are happening. Because things are becoming out of reach we all start believing this is a bubble...this could be inflation driven, builder greed driven or pure demand by investors.

    It is not possible for anyone to predict, there is no historical data trending to predict the future. So if someone predicts the future, its emotional (sour grapes), or wishful thinking.

    The way prices have held last few months don't expect a drop, if you need to buy for self use go ahead with what you can afford. Investors may need to be more careful...but again there is no factual data pointing towards a crash. Given the way inflation (hence salaries) has moved there does not appear the possibility of a drop.

    Again this is a public forum of individuals (not necessarily experts), so one still needs to do his/her own research before deciding to buy or waiting for a crash.

    Cheers
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  • Originally Posted by Rinkuu
    I think we all believe prices are too high or have increased too fast. Sales have dropped but still some transactions are happening. Because things are becoming out of reach we all start believing this is a bubble...this could be inflation driven, builder greed driven or pure demand by investors.

    It is not possible for anyone to predict, there is no historical data trending to predict the future. So if someone predicts the future, its emotional (sour grapes), or wishful thinking.

    The way prices have held last few months don't expect a drop, if you need to buy for self use go ahead with what you can afford. Investors may need to be more careful...but again there is no factual data pointing towards a crash. Given the way inflation (hence salaries) has moved there does not appear the possibility of a drop.

    Again this is a public forum of individuals (not necessarily experts), so one still needs to do his/her own research before deciding to buy or waiting for a crash.

    Cheers

    People are not fools to speak about correction blindly and blankly, dude. Kalpataru Aura is selling flats at 8000 at Ghatkopar. A friend of mine locked the deal for higher floor just 2 days back. Correction is imminent!
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  • Originally Posted by ankilsanghvi
    People are not fools to speak about correction blindly and blankly, dude. Kalpataru Aura is selling flats at 8000 at Ghatkopar. A friend of mine locked the deal for higher floor just 2 days back. Correction is imminent!


    Stop putting lies.
    you know we can't verify so dont say anything u like
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  • Originally Posted by jia001
    Stop putting lies.
    you know we can't verify so dont say anything u like



    I'm just sharing it wid u'll. If you don't believe & can't verify; ignore it.
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  • If you are so confident that correction is imminent then why did your friend lock at 8000 (true or not) i think he should have waited for another 20% correction and bought at 7200.

    One of desperate deals are always there. There still is no proof of widespread price decline, because people continue to put the money in.

    Originally Posted by ankilsanghvi
    People are not fools to speak about correction blindly and blankly, dude. Kalpataru Aura is selling flats at 8000 at Ghatkopar. A friend of mine locked the deal for higher floor just 2 days back. Correction is imminent!
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  • Originally Posted by Rinkuu
    If you are so confident that correction is imminent then why did your friend lock at 8000 (true or not) i think he should have waited for another 20% correction and bought at 7200.

    One of desperate deals are always there. There still is no proof of widespread price decline, because people continue to put the money in.


    My friend locked the deal coz he thought he is gettin the flat at good price & other factor is, he had sold his old flat & had to find a place somewhere . It is not abt why didn't he wait for the correction, coz its his decision and wish, its about the deal at rs.8000 which is also a good bargain from base price of Rs.9250
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  • News article today

    You may get cheaper homes, thanks to USA (Courtesy Mid Day) By: Varun Singh Date: 2011-08-09 Place: Mumbai Prices set to go down by 20% within 3 months due to impending global slowdown, say experts While the Sen's bear run with a cumulative fall of more than 700 points in the last two working days is giving investors and financial establishments sleepless nights, the impending global slowdown could actually be good news for home buyers. There is an overwhelming consensus in the city's real estate community that the downgrading of America's rating and the subsequent tumble in global stock markets will give builders just the excuse they needed to do a course correction in prices to counter flagging sales. The result? Realty prices in the city may see a 20 per cent fall across the board in less than three months. The situation would be similar to the 2008 slowdown, when builders had slashed prices by 30 per cent to attract buyers. And there's more good news: The 20 per cent reduction in prices is likely to stay for at least a year. Paras Gundecha, president, Maharashtra Chambers of Housing Industry (MCHI) said, "The realty market seems to be headed to a situation similar to the one in 2008. Sales are slow as it is and builders have already started giving discounts to counter the gap in demand and supply. A correction of nearly 20 per cent could be upon us soon." Gundecha attributed the slump in sales partly to decisions taken by the government and the RBI. "Home loans have become costlier, clearance of files has become slower and the DCR amendment (charging the builder for free FSI) has been the icing on the cake. All these factors have adversely affected market and buyer sentiment," he said. Manohar Shroff, secretary, MCHI-Navi Mumbai said, "Things don't seem very rosy with the new changes in the real estate market. The slowdown and the market collapse have affected sales and prices are likely to fall or remain stagnant for some time." Experts' take Pankaj Kapoor, MD, Liases Foras, a real estate research firm, said, "A correction was bound to happen and the excuse of the American slowdown is apt for builders, just like the 2008 Lehman issue was. The prices will come down by 20 per cent in the next two-three months. But, unlike the 2008 collapse, when the realty market recovered within eight-nine months, the market should remain stagnant after the correction for at least a year or two this time." Explaining the reasons for this, Kapoor said, "Investors are shying away from the market, forcing builders to target the end user. And, to sell their flats to end consumers, they need to understand their budget, which is way lesser than the prices being quoted by builders currently. They are, thus, left with no choice but to reduce the prices." Anuj Puri, chairman, Jones Lang LaSalle, a real estate consultancy firm said, "The US credit rating cut and uncertainties about Europe's debt situation is a cause for concern. There is an overwhelming consensus in the city's real estate community that the downgrading of America's rating and the subsequent tumble in global stock markets will give builders just the excuse they needed to do a course correction in prices to counter flagging sales These, coupled with the reduction in foreign institutional investment (FII), including in real estate, will affect the overall market sentiment, leading to a decline." Market Voices The effects of the US crisis on the Indian markets will not be immediate. The US markets will be closely watched and the impact on our markets will only be visible by November. Employee lay-offs are not likely to be an immediate effect of the financial crisis in the US. -- Mark Fernandes, president, Indian Merchants Chamber Indian companies are bound to be affected by the US financial crisis. With the market going through a rough patch, lay-offs are unavoidable, especially in the brokerage sector. --Nishidh Shah, broker The US financial markets won't have a major impact on the companies. We don't foresee any trouble. However, all necessary precautionary measures are being taken. -- RIL employee It's going down According to predictions by mchi president Paras Gundecha and other realty experts, prices in a few prominent areas in the city will be as follows: Note: The rates will vary with proximity to station or highway. Base figures courtesy Kkarma realtors Please search in Mid day for the table of prices
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  • muabai real estate mafia

    It is wise idea to stop buying for the investor but what about genuine hous e hunter?? i have been hunting the suitable 2 bhk in mulund, thane for the last 4 years unsuccessfully ( either price is high, or location, not good, builder not reliable etc etc). booked with 4 builder and finally cancelled the deal after realing the cheating business of the builder.. lodha is holding my 27k booking. there is a strong builder and politicinas lobby. we need one ABHIMANU to break this CHAKRAVUHA!!!!. if i do not pay certain amount in black, then i do not get the booking likewise , i lost many opportunities to buy the flat in desired and prominent location. finally i am the looser. someone pay and buy that flat. our builders aware that demand is surpass the supply in mumbai, so the builder dominate the real estate. let us hope for better.
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  • Originally Posted by BM Shetty
    It is wise idea to stop buying for the investor but what about genuine hous e hunter?? i have been hunting the suitable 2 bhk in mulund, thane for the last 4 years unsuccessfully ( either price is high, or location, not good, builder not reliable etc etc). booked with 4 builder and finally cancelled the deal after realing the cheating business of the builder.. lodha is holding my 27k booking. there is a strong builder and politicinas lobby. we need one ABHIMANU to break this CHAKRAVUHA!!!!. if i do not pay certain amount in black, then i do not get the booking likewise , i lost many opportunities to buy the flat in desired and prominent location. finally i am the looser. someone pay and buy that flat. our builders aware that demand is surpass the supply in mumbai, so the builder dominate the real estate. let us hope for better.


    Do not loose heart Shettyji. The thing is our wants have become more luxirirous. We always want more than what we can afford & regarding property prices. they are bound to come down, just a bit of time more...
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  • Hi ,

    I agree with Ankil, Slow down is coming and will come with full force, we are no immune to it and will never be. Everything that goes up has to come down, and if it does not then it will breakdown.
    So I guess wait and watch.I can see the light.

    Cheers

    Prashu
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  • todays article in TOI about Real estate

    Tough economic times hit property firms like DLF, Unitech and DB Realty - The Economic Times

    in my opinion... we should wait n watch for at least 4-6 months. hopefully by that time the picture gets a little more clear.
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