Hello guys was planning to buy a house in mumbai , area is not a constraint but my budget is around 50L, which are the areas and the layout i.e. 1/2BHK,that i can look into .the prop is for investment purpose as of now will move in after 2-3 yrs. Should i wait till the so called price correction takes place ?
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  • Som - Your are mixing the property for investment with self use. If this is the objevtive then you have to go for Ready possesion flats. This hopefully brings some clarity.
    Quoting the amount and asking the location for investment is vague question. You need to narrow down your options and then ask for opinions. Answering the un-defined question is like "andhere mein tir chalana" -- :-)
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  • +1
    Vague needs..
    what is that you need it for? Plan it.. focus on a area.. understand your budget and then look out..

    Very difficult to answer..

    Originally Posted by neeraj23in
    Som - Your are mixing the property for investment with self use. If this is the objevtive then you have to go for Ready possesion flats. This hopefully brings some clarity.
    Quoting the amount and asking the location for investment is vague question. You need to narrow down your options and then ask for opinions. Answering the un-defined question is like "andhere mein tir chalana" -- :-)
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  • Hello neeraj/ sharpj, i am presently woking in pune and would likely move to mumbai in the next 2-3 years, i want a house in wetern suburbs i.e. andheri - borivali, both east and west will do. but i have a budget constraint ,so i was thinking instead a paying a high rental why not pay an EMI a have ones own house, so by the time i move to mumbai i need not search for a house. Guide!
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  • Hi Som,

    At the current prices it is not a great budget to work on. 50 Lakhs is a big money but unfortunately not in Mumbai. If you are lucky you will find a 1 BHK in a old building. But there are not many out on sale.. so you need to get lucky.

    There are certainly possibilities in Godbhunder road area or beyond Borivili. Andheri to Borivili 1 BHK's in older buildings

    Here is what I would go about it. Look for a old building and keep firm on budget. If you get anything freeze immediately. Everybody is talking about a correction. In my opinion not a big one for the 50 L ones and even here it will be very slow and a bigger fall will be seen in the new launches of the luxury flat.

    I do not see anything quickly freexing, so if you keep looking, and if you are still looking until April- May, maybe you can land something.. and if the RE sentiments change, maybe you can bargain. It is all about sentiments and buyers are king in a bear market, whereas seller is the king in the bull market

    What makes you think rentals are very high. They are reasonable.

    All the best

    Originally Posted by som777
    Hello neeraj/ sharpj, i am presently woking in pune and would likely move to mumbai in the next 2-3 years, i want a house in wetern suburbs i.e. andheri - borivali, both east and west will do. but i have a budget constraint ,so i was thinking instead a paying a high rental why not pay an EMI a have ones own house, so by the time i move to mumbai i need not search for a house. Guide!
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  • hi sharpj

    Originally Posted by Sharpj
    Hi Som,

    At the current prices it is not a great budget to work on. 50 Lakhs is a big money but unfortunately not in Mumbai. If you are lucky you will find a 1 BHK in a old building. But there are not many out on sale.. so you need to get lucky.

    There are certainly possibilities in Godbhunder road area or beyond Borivili. Andheri to Borivili 1 BHK's in older buildings

    Here is what I would go about it. Look for a old building and keep firm on budget. If you get anything freeze immediately. Everybody is talking about a correction. In my opinion not a big one for the 50 L ones and even here it will be very slow and a bigger fall will be seen in the new launches of the luxury flat.

    I do not see anything quickly freexing, so if you keep looking, and if you are still looking until April- May, maybe you can land something.. and if the RE sentiments change, maybe you can bargain. It is all about sentiments and buyers are king in a bear market, whereas seller is the king in the bull market

    What makes you think rentals are very high. They are reasonable.

    All the best





    according to me correction will not come atleast 1and half year for proerty---lets see
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  • Originally Posted by surya2089
    according to me correction will not come atleast 1and half year for proerty---lets see

    Surya - Why no correction for "alteast 1 & half year"??
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  • Originally Posted by neeraj23in
    Surya - Why no correction for "alteast 1 & half year"??

    The fact is that nobody knows whether there will be any correction in first place.....and everybody is speculating the same.
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  • Correction will be there.. when is a speculation.. The march roll over will be interesting to watch..
    With the inflation so high , there will be a definite hike in the interest rate.. which is going to add to the interest burden..

    Sales are not exactly blazing in the RE.. and all these factors will bound to have an impact..

    It would be foolish to expect a sharp fall.. at the same time.. not really smart to be bullish either...


    Originally Posted by bhushank4
    The fact is that nobody knows whether there will be any correction in first place.....and everybody is speculating the same.
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  • Correction pinch is already there.

    Builders are dying to sell, but no buyers. The sales figure has dropped a lot.

    This is a good time for buyers to bargain. Don't just thorw your hard earned money. Bargain and get discounts.

    This trend will continue next 3-6 months.
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  • Vashi

    I suggest you do not waste your hard-earned (I suppose) money buying an apartment in Borivli. Rather buy a flat in Vashi, and live on rental in Borivli if required. Mumbai metro is coming till Mankurd, which is just one station away from Vashi. Vashi is good to live in, has lot of entertainment options, is a planned city, and very near to mainland Mumbai, only one bridge away!
    Moreover, Vashi has got the famous APMC market, where you can buy your daily needs very cheap.
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  • Originally Posted by som777
    Hello guys was planning to buy a house in mumbai , area is not a constraint but my budget is around 50L, which are the areas and the layout i.e. 1/2BHK,that i can look into .the prop is for investment purpose as of now will move in after 2-3 yrs. Should i wait till the so called price correction takes place ?



    SOMU, DONT WAIT more, unless u have to do so.:bab (22):
    Property prices are high nearing sky highs in NAVI Mumbai.
    R u really keen to Invest in Navi Mumbai more precisely In Panvel, then I can guide you.:bab (34):
    Well i am not a Realtor,or any related with Construction lobby, a investor like you precisely.
    Chaeers.
    Savvy_v
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  • Originally Posted by savvy_v
    SOMU, DONT WAIT more, unless u have to do so.:bab (22):
    Property prices are high nearing sky highs in NAVI Mumbai.

    They are still quoting 3950 psf. (that is no hike in base rate after airport clearance) in HPG -Panvel
    Please note SOMU.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts
    Read this link.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts « Jones Lang LaSalle India

    Cheers,
    Savy_v

    Cheers,
    Savy_v
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  • And the article is 2 months old..

    Boss things have changed since the article.. Sen is no longer on the bull phase..
    LIC housing bribe for loans has shaken the RE industry..
    RBI is monitoring loans to builders by banks
    Inflation is galloping..

    Sentiments are not so bullish..

    And the guy mentioned Western suburbs if I recollect correctly..



    Originally Posted by savvy_v
    Originally Posted by savvy_v
    SOMU, DONT WAIT more, unless u have to do so.:bab (22):
    Property prices are high nearing sky highs in NAVI Mumbai.

    They are still quoting 3950 psf. (that is no hike in base rate after airport clearance) in HPG -Panvel
    Please note SOMU.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts
    Read this link.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts « Jones Lang LaSalle India

    Cheers,
    Savy_v
    CommentQuote
  • Originally Posted by savvy_v
    Originally Posted by savvy_v
    SOMU, DONT WAIT more, unless u have to do so.:bab (22):
    Property prices are high nearing sky highs in NAVI Mumbai.

    They are still quoting 3950 psf. (that is no hike in base rate after airport clearance) in HPG -Panvel
    Please note SOMU.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts
    Read this link.
    Navi Mumbai Airport Nod To See Housing Prices Jump: Experts « Jones Lang LaSalle India

    Cheers,
    Savy_v

    Thanks for your inputs, but i somehow don't have an inkling for navi mumbai,anything beyond vashi is average. in navi mumbai loading is very high, i reffered other threads on the forum ,where loading is about 45% odd. kharghar is concrete and less green too much pollution that side but never the less vashi is good but costly, i will try there if i could get a resale house there.
    Secondly i might work at western suburbs(malad/andheri-e)so commuting will be easy.
    I think even though the airport is given a nod the rates haves ridiculously jumped, 4500+ is the rate in thane which has a better infrastructure and presence of reputed builders as compared to navi mumbai.Airport if i am not mistaken will be operational in 2017.
    lets see i have decided to wait till march 2011, see what happens, then decide
    Thanks for your inputs, but i somehow don't have an inkling for navi mumbai,anything beyond vashi is average. in navi mumbai loading is very high, i reffered other threads on the forum ,where loading is about 45% odd. kharghar is concrete and less green too much pollution that side but never the less vashi is good but costly, i will try there if i could get a resale house there.
    Secondly i might work at western suburbs(malad/andheri-e)so commuting will be easy.
    I think even though the airport is given a nod the rates haves ridiculously jumped, 4500+ is the rate in thane which has a better infrastructure and presence of reputed builders as compared to navi mumbai.Airport if i am not mistaken will be operational in 2017.
    lets see i have decided to wait till march 2011, see what happens, then decide
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  • Mumbai - Suggestions for a Flat in 50L

    Can anyone recommend a good reputed builder preferably township to invest 50 lakh. Under construction is fine and I am ok if it takes 4-5 years as I intend to self fund.

    i want the property to be near metro (even proposed is fine) if possible.
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