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Mumbai Real Estate Prices Started Falling

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Mumbai Real Estate Prices Started Falling

Last updated: November 4 2015
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  • Re : Mumbai Real Estate Prices Started Falling

    I had a chat wid some broker friends yesterday; got to know from them that Oberoi Splendour is almost empty even though the possession has been given long back. Oberoi exqusite project has also been stalled as the new corporator is very strict and oberoi exqusite is one of illegal buildings.

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    • Re : Mumbai Real Estate Prices Started Falling

      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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      • Re : Mumbai Real Estate Prices Started Falling

        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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        • Re : Mumbai Real Estate Prices Started Falling

          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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          • Re : Mumbai Real Estate Prices Started Falling

            Real estate residential projects withnesses drop in sales.

            Originally posted by tubaibabu View Post
            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.
            Thanks
            B.Regards
            Sunijani2004.

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            • Re : Mumbai Real Estate Prices Started Falling

              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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              • Re : Mumbai Real Estate Prices Started Falling

                Originally posted by Rinkuu View Post
                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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                • Re : Mumbai Real Estate Prices Started Falling

                  Originally posted by ankilsanghvi View Post
                  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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                  • Re : Mumbai Real Estate Prices Started Falling

                    Originally posted by jia001 View Post
                    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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                    • Re : Mumbai Real Estate Prices Started Falling

                      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 View Post
                      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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