As per Real Estate Webportals I have observed fall in Navi Mumbai Real Estate prices. I think price correction is in range of Rs.200 - Rs.300. Any one has the similar experience, pls. share.
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  • Do you mind sharing your source of information.
    a web link or something similar
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  • This is my observation, while going through different websites and may be I am wrong.

    May pls. share your opinion.
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  • I see it the other way round... with Taloja quoting 3300-3600 ++
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  • I guess Taloja may be exception. Price are either constant or coming down but haven't seen going up any more.
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  • Hyde Park was quoting flat rate of Rs.5,300/ - a week back. Now they are quoting Rs.5,300/- for Graden Facing and Rs.5,100/- for Road Facing. Simliar exp. with others.

    Now Builders have also started calling back the prospective buyers.
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  • 2-3 months back when the Airport was finalized; all the builders increased the prices by 1000Rs which was absurd. Now even if they decrease it by 200-300; it still means that they increased it by 500-700 on average.
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  • Originally Posted by meetapk
    2-3 months back when the Airport was finalized; all the builders increased the prices by 1000Rs which was absurd. Now even if they decrease it by 200-300; it still means that they increased it by 500-700 on average.


    Thats absolutely right. Best example is Indiabulls Greens Panvel project wherein the psf rate went from 3100 to 3400 to 4000 and finally to 4500 within a span of 2-3 months, surrounding the news of airport clearance. So even if they cut back by 10% following the correction in prices, it will roughly settle down at maybe Rs.4000psf which is still an appreciation of approx 80% from their project launch base rate of Rs.2200psf.
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  • Any one has any update on price correction.

    Pls. revert.
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  • Originally Posted by bhushank4
    Thats absolutely right. Best example is Indiabulls Greens Panvel project wherein the psf rate went from 3100 to 3400 to 4000 and finally to 4500 within a span of 2-3 months, surrounding the news of airport clearance. So even if they cut back by 10% following the correction in prices, it will roughly settle down at maybe Rs.4000psf which is still an appreciation of approx 80% from their project launch base rate of Rs.2200psf.


    Dear B,
    U r always absolutely right .
    My views on this;
    RE market moves with ECONOMY around us. Economy checked & balanced by developed nations,and imparted on us,may be its Oil economy, essential commodities etc etc.


    Today ISE INDEX: 18347.We have now reached 18000/5416 levels which is much more than I expected (thats the great thing about the market, it always surprises everyone!)

    As I had mentioned, in an upward phase markets behave as though they are climbing the stairs. On the way down they seem to be jumping put of the window, giving people little chance to lock in their profits.

    As comparison RE market is also like this.
    We always expect Rates to go high,and feel happy,but when they are going high,but in current scenario, even if there is depreciation of 10-15 % does not matter for investment like this in IB or in HPG.This shall cover up in no time.......This is the beauty of Re market...:D
    Cheers
    savvy_v
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  • I don't expect any price correction in Navi Mumbai at least in near future(2-3 yrs).News related to 'International Airport' will keep market hot....
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  • Better wait n watch.
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  • Originally Posted by NANPAN.
    I don't expect any price correction in Navi Mumbai at least in near future(2-3 yrs).News related to 'International Airport' will keep market hot....


    NAPAN,
    U r true.
    U can view this latest information on Mid-day.
    Realty rates to get realistic in Navi Mumbai
    People even at Ambarnath are boiling due to International airport arrvial .
    cheers
    Savvy_v:D
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  • Mid Day and Mumbai Mirror articles are all fabricated by the so called Navi Mumbai builder lobby. It is tactis to put presuure in last minute. As the prices are bound to go down.

    Advisable to atleast just wait n watch upto 15th March 2011. In case price correction does not happen, It will not go up also.

    Let us hope for the best.
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  • Vinit,

    You are correct.. See price correction does not happen suddenly like share markets.. But sometime towards the March April 2011, you might see some ads with dropped prices.. There is repayments due by many builders and banks may not rollover the loans for all of them. Builders are over leveraged and are facing liquidity pressures..
    Correction will be more in the premium segment than others.. but it will happen..

    Budget will also be interesting..
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