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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  • I just came to know from my parents that prices in Kandivali(W) have fallen by 20%. 1BHK Flats in my society which were sold for Rs 75 lakhs earlier are now not finding buyers even at 60 lakhs.
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  • Heard from a broker friend that sales in goregaon(E) have virtually dried up and that there are almost no takers for DB Realty, Oberoi, Lodha,Raheja, Mantri

    A classic case is where a 1BHK in Dindoshi that was initially quoting for 75lacs 3 months back has no buyer for 60lacs as well

    I have been looking to book a flat but when people start demanding 85lacs for 2bhk in Dahisar with carpet area of 650 then you really have to start questioning where is all this demand/hype/gas coming from :D
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  • I am looking for

    1. Price appreciation first------ as and when area gets developed, if rental income is to happen, it will.

    2. Self cash, no bank - preferably enter investment project at early stage so can make gradual instalment payment. (full payment can be done in case situation requires)

    3.No desire to sell for years unless emergency

    4. Fully invested in shares, MF. ( to the extent i can take risk/manage).FD rates, except for tax benefit do not attract me. A good RE investment done at the right time can yield higher returns in the long run.

    5 I have tracked all your posts on this forum. Maybe i missed the one on land. In one of your posts you have mentioned about you doing an RTI on IB location,yethe post is an old one.

    thanks
    mayekar
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  • Yes, i was witness to and surprised by the adverse behaviour of some people to your post though i could clearly see that:

    1. When it comes to RE investment, you have the knack.
    2 You do enough homework

    After this, you disappeared from this forum since a year and half.

    I am not an affluent investor by Mumbai standards. Hira - Panvel would be okay for me when it opened in its mid twenties price range, not at these levels. Now even marathon nexgen is quoting same prices.

    After making a token payment at Lavasa, i pulled out of it after visiting the hills, and HCC offices and interactions. This was just before the environment ban. Fortunately, i got my money refunded.
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  • All India Investment Map

    Originally Posted by mayekar
    Thank you.

    Yes, i came to know about the flip side to IB panvel through posts on this forum and also the RTI which you did showing it is possibly near the airport funnel.

    Rajarhat, the most promising area in Kolkata has shown very modest appreciation in the past 4-5 years.A lot of political and economic promises need to be executed before seeing real appreciation in prices.

    While investing where you reside has its advantages that one can put it out on rent, rental yields in this city are now also at par with other cities in India at 0.5%. Before 2006,Kolkata boasted of rental yields of 1% of capital value.This combination of high yield and basic appreciation made it more lucrative compared to Mumbai,Pune.But that is no longer the case.

    As of now and since some time,there are NO SAFE plotted land investment options in Kolkata. Are there any ones around Mumbai-Pune region?

    Which city/area should i focus my time on researching/studying which looks most promising/potential in the coming years?


    For plotted land investment try ---> Bangalore near new airport, Indore on Airport Road (EMAAR MGF) , Coimbatore, Pune Wagholi Road by Kolte Patil Ivy Estate, Chennai Old Mahabalipuram Road,

    For apt's Gurgaon Golf Course Extn,
    Lucknow for Villas by Ansals
    Madhyagram in Kolkatta for affordable apts.
    Hebal in Bangalore for luxury apts.
    Bangalore Whitefield, Yelankana for affordable apts.
    Gandhi Nagar Gujarat for affordable apts.
    Goregaon East Malad East , Kandivali East, Borivali East - all Mumbai for good apts.
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  • DB realty has not takers at 8500 even though it is 95 % complete

    Originally Posted by pande1
    Heard from a broker friend that sales in goregaon(E) have virtually dried up and that there are almost no takers for DB Realty, Oberoi, Lodha,Raheja, Mantri

    A classic case is where a 1BHK in Dindoshi that was initially quoting for 75lacs 3 months back has no buyer for 60lacs as well

    I have been looking to book a flat but when people start demanding 85lacs for 2bhk in Dahisar with carpet area of 650 then you really have to start questioning where is all this demand/hype/gas coming from :D


    DB realty has not takers at 8500 even though it is 95 % complete

    I checked out three flats yesterday

    1) 1 bedroom 480 carpet -- 67 lacs -- ashok van
    2) bedroom 700 carpet 90 lacs -- ashok van
    3) IC colony 2 bedroom 85 lacs

    my reasoning is if i can come up with 10 more lacs I can get a decent flat in Dadar(e) or Matunga ..;)
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  • I didn't disappeared, but somehow my login id was blocked and i couldn't accessed it. later it got reactivated but i stopped commenting.. :)

    I visit this forum to read potential buyers mindset. I am an investor and this forum give me chance to be in direct touch with a buyer.

    H-panvel is a very good project for long term but you missed the bus. one way it is good for you. It is a leased property and you should go for freehold investment only.

    Originally Posted by mayekar
    Yes, i was witness to and surprised by the adverse behaviour of some people to your post though i could clearly see that:

    1. When it comes to RE investment, you have the knack.
    2 You do enough homework

    After this, you disappeared from this forum since a year and half.

    I am not an affluent investor by Mumbai standards. Hira - Panvel would be okay for me when it opened in its mid twenties price range, not at these levels. Now even marathon nexgen is quoting same prices.

    After making a token payment at Lavasa, i pulled out of it after visiting the hills, and HCC offices and interactions. This was just before the environment ban. Fortunately, i got my money refunded.
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  • I recently invested in Nagpur near infosys SEZ.

    I purchased 4 apartments each 1bhk in Nagpur. Two of them are in the heart of city... one is in upcoming middle class area and other is in outskirt. My entire investment was under < 1 cr.

    Based on my infosys pune and mysore SEZ research work, I noticed that they completed construction work in <5 yrs and started recruting from 4th year itself. Their facilities reached at peak after 7-8 yrs.

    If you noticed pune and mysore buildings than you will find out that most of the employee uses transport buses to reach their campuses. I am very sure that they will start transport for Nagpur as well.

    One more point is that Infosys always build commercial spaces for self use and employees residential is depending on city's infra. So, If they start hiring in next 5 yrs than nagpur rental will go high.

    The moment employee start renting, local buyers will realise RE importants and will purchase investment properties. That will be the right time for me to sell my properties to second hand investor who will later rent it and I will exit happily with profit.

    Nagpur is currently under developed similar to Pune before 15 yrs.

    I am looking for 3-4 times profit in next 8-10 yrs.



    Originally Posted by mayekar
    I am looking for

    1. Price appreciation first------ as and when area gets developed, if rental income is to happen, it will.

    2. Self cash, no bank - preferably enter investment project at early stage so can make gradual instalment payment. (full payment can be done in case situation requires)

    3.No desire to sell for years unless emergency

    4. Fully invested in shares, MF. ( to the extent i can take risk/manage).FD rates, except for tax benefit do not attract me. A good RE investment done at the right time can yield higher returns in the long run.

    5 I have tracked all your posts on this forum. Maybe i missed the one on land. In one of your posts you have mentioned about you doing an RTI on IB location,yethe post is an old one.

    thanks
    mayekar
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  • Yesterday, I got a mail quoting that developer of one of the 50 storied building in central Mumbai has reduced rates for its 2400 sq. ft. flats to Rs 7cr from earlier 9cr. It also said that some of the investors are willing offer even at Rs 6.5cr.

    However, the mail also stated that this information was from his sources and is not independently verified. The name of the building/developer was not there but my guess is it can be Lodha Bellissimo.
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  • Are you sure about DB Orchid Woods? I meant do we really have resale flat at 8500 ? They are quoting 14K rate now.

    Originally Posted by shashankgujjar
    DB realty has not takers at 8500 even though it is 95 % complete

    I checked out three flats yesterday

    1) 1 bedroom 480 carpet -- 67 lacs -- ashok van
    2) bedroom 700 carpet 90 lacs -- ashok van
    3) IC colony 2 bedroom 85 lacs

    my reasoning is if i can come up with 10 more lacs I can get a decent flat in Dadar(e) or Matunga ..;)
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  • Originally Posted by anandv
    Are you sure about DB Orchid Woods? I meant do we really have resale flat at 8500 ? They are quoting 14K rate now.


    I think he is talking about Orchid Ozone, not Orchid Woods.
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  • orchid subarbia

    Originally Posted by acecupid
    I think he is talking about Orchid Ozone, not Orchid Woods.


    orchid subarbia
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  • 30% rate will slashed in upcoming months of 2012. many reports are coming about sales which will really bad for developers. small builders which were demanding more that what they were worth of will have dip on price.
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  • mumbai real estate price dipped about 30%

    30% rate will slashed in upcoming months of 2012. many reports are coming about sales which will really bad for developers. small builders which were demanding more that what they were worth of will have dip on price.
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  • Originally Posted by sweetunaiya
    I recently invested in Nagpur near infosys SEZ.

    I purchased 4 apartments each 1bhk in Nagpur. Two of them are in the heart of city... one is in upcoming middle class area and other is in outskirt. My entire investment was under < 1 cr.

    Based on my infosys pune and mysore SEZ research work, I noticed that they completed construction work in <5 yrs and started recruting from 4th year itself. Their facilities reached at peak after 7-8 yrs.

    If you noticed pune and mysore buildings than you will find out that most of the employee uses transport buses to reach their campuses. I am very sure that they will start transport for Nagpur as well.

    One more point is that Infosys always build commercial spaces for self use and employees residential is depending on city's infra. So, If they start hiring in next 5 yrs than nagpur rental will go high.

    The moment employee start renting, local buyers will realise RE importants and will purchase investment properties. That will be the right time for me to sell my properties to second hand investor who will later rent it and I will exit happily with profit.

    Nagpur is currently under developed similar to Pune before 15 yrs.

    I am looking for 3-4 times profit in next 8-10 yrs.

    Excellent.

    I expected that the next growth area would be from a non tier 1 city, just could not get which one.

    This gives me enough time to do my homweork before visiting Mumbai- Nagpur in 1st week of August.

    While researching, if i have any queries, i may post them here.

    It is intersting how you have spread your investments in different parts of same city.

    Thanks
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