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 anandv
    Are you sure about DB Orchid Woods? I meant do we really have resale flat at 8500 ? They are quoting 14K rate now.


    Yes, they were quoting 15k, I went there a few weeks back, when I asked the salesman who will buy property at 15k in goregaon east, when they can get property in Bandra at around 16-17k, his standard response was NRI, Investors, Businessmen

    When I checked with broker friend he said no bookings have been made there in the last few months and DB realty are also facing some cash crunch they might dispose the inventory at 11-12k however even that would be difficult as there are no genuine buyers in that range as well.

    Keeping fingers crossed.
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  • orchid woods

    DB is selling orchid woods at 15300 + 105 floor rise. That would make a flat on 25th floor to be about 18K per sq feet and their 2 bhk is about 1420 sqfeet. So u are talking of a 2 bhk in goregaon east for 2.7 cr. Same as bandra west :).

    However, I had a firm offer for a 2 bhk flat on 40th floor at 14k all inclusive. it was coming to be about 2 cr.

    Negotiation is the key. prices are absurd. and have the ballls to negotiate.

    My reading of RE market in mumbai and i am seraching for a 3 bhk flat in western subrurbs for about 8 months now with budget up to 5 cr. But even with that budget i havent been able to close any single deal. Guess why?. Because nobody wants to sell at market price. When u sit on deal table the seller wants 20 lakh more.

    I am amused at this mentality. Either , its like that sellers have decided that just like buyers have refused to buy,we wont sell. or I guess it has to do with a very strong beleif which each of us Indian have that Real estate prices will only go up.........so if we sell now, we will regret in future

    It becomes difficult in such a scenario for genuine buyers like me to even buy..
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  • negative growth for India

    I dont see any growth unless you are looking at 5 yrs or more

    Originally Posted by mayekar
    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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  • forget about goregaon even daishar guys are holding on

    forget about goregaon even daishar guys are holding on to the 1 cr dream ..mungeri lal ke haseen sapne

    Originally Posted by vibes28
    DB is selling orchid woods at 15300 + 105 floor rise. That would make a flat on 25th floor to be about 18K per sq feet and their 2 bhk is about 1420 sqfeet. So u are talking of a 2 bhk in goregaon east for 2.7 cr. Same as bandra west :).

    However, I had a firm offer for a 2 bhk flat on 40th floor at 14k all inclusive. it was coming to be about 2 cr.

    Negotiation is the key. prices are absurd. and have the ballls to negotiate.

    My reading of RE market in mumbai and i am seraching for a 3 bhk flat in western subrurbs for about 8 months now with budget up to 5 cr. But even with that budget i havent been able to close any single deal. Guess why?. Because nobody wants to sell at market price. When u sit on deal table the seller wants 20 lakh more.

    I am amused at this mentality. Either , its like that sellers have decided that just like buyers have refused to buy,we wont sell. or I guess it has to do with a very strong beleif which each of us Indian have that Real estate prices will only go up.........so if we sell now, we will regret in future

    It becomes difficult in such a scenario for genuine buyers like me to even buy..
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  • I had checked out Orchid Woods in June last year and they were selling at 12K per sqft. I dont remember the floor rise... still 3K rise is cost is like 25% hike.... I dont see any logic here. Why will even NRIs invest at this price ? Seems like they are increasing cost for rupee depreciation.
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  • Had put my 3 Bedder for 85K psf next to King Khan's house in Bandstand and 20 people of Bollywood walked in and all serious buyers ( a gay director ) .
    What mandi ?
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  • Check out this excellent presentation by Liases Foras.

    http://www.liasesforas.com/Reports/CapitalDrivenRealEstateanditsconsequenses.pdf
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  • IREF admins why not ban Jigneshbhai's posting too. He is also advertising his properties. Infact my comment was tongue in cheek. Who will buy at 5cr when the market price is 4cr or less.
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  • Originally Posted by jigneshbhai
    Had put my 3 Bedder for 85K psf next to King Khan's house in Bandstand and 20 people of Bollywood walked in and all serious buyers ( a gay director ) .
    What mandi ?


    Jignes bhai 85k psf and bollywood actors make less than 1% of Real Estate market so its not a good sample space to categorize the market, for understanding mandi try finding out sales of residential projects in 50lac-2cr range which make a better % of residential market :)
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  • That's true Pane1 and apologies to fellow forum people I was not advertising for my property just stating that at the top there is no mandi at all will never be.


    Thanks xredred for the link that was an excellent read.
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  • Does anyone have idea of latest price for Orchid Woods in Goregaon - i am planning to buy a 2/2.5 BHK flat in that building but surely not willing to pay 15k+ rate quoted on some online adverts for the project - assuming i can get it for much cheaper in secondary sale market? Any help would be much appreciated.
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  • Originally Posted by Chirpyguy
    Does anyone have idea of latest price for Orchid Woods in Goregaon - i am planning to buy a 2/2.5 BHK flat in that building but surely not willing to pay 15k+ rate quoted on some online adverts for the project - assuming i can get it for much cheaper in secondary sale market? Any help would be much appreciated.


    Almost no flats available in secondary market as builder still holds most of the flats, I tried checking 1 month back and there was no flat.
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  • I have met with builder representative about a week back. Was trying to negotiate a good deal for a jodi flat. There is a negotiation possible for sure. Depends on your skill. However, one of the thing builder told me was that they are not allowing anyone to "resale". Builder NOC is a must for anyone to sell and hence you dont find any resalle flats in market. Wait for some time , you would see enough investors. Also I was informed by builder that they dont expect to give a possesion before June 2013
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  • Thanks guys. I also made couple of calls to some property agents this afternoon and it seems some flats may be available - i haven't had a firm offer yet but the guys have promised to come back with offer later this week. The official rate ate is 15,300 per Sq. Ft. but i am expecting a better offer in resale. Lets see.....
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  • I really agree to your comment, many big developers are soon to be bankrupt which will definitely affect whole real estate market. but the question remain who will pay for that, of-course you and me common people which does not understand the real scenario of real estate.
    please wait for little bit more and save your money, hard earned money





    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.
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