Thanks Modi jee,
For bringing a common man dream to buy a flat in Mumbai into reality.
I have few examples of price drop to 30%. Mohid Heights in four bunglow a 2 BHK was quoting 1.85 to 1.95 cr now they are quoting 1.3 cr that higher floor.
D N Nagar 2 BHK 1.65 cr now 1.25 cr. Lokhandwala 2 BHK 1.95 cr now 1.35 cr. Many examples are there. Please don't believe to advertisements rates given on Magicbricks, 99acres and housing.com rates. They are price hype bubble creator.

For an example a flat real value is 1 cr. I put an advertisement for sale of same flat with the rate of 1.5 cr and finally make a deal 1.25 cr saying buyer I am giving him 25 lac discount. Builders are doing same thing. People are getting fooled by this tactic.

Please don't put your hard earned money plus high interest home loan to buy few square feet of grave.

Wait for few more months.
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  • Originally Posted by imran771
    Thanks Modi jee,
    For bringing a common man dream to buy a flat in Mumbai into reality.
    I have few examples of price drop to 30%. Mohid Heights in four bunglow a 2 BHK was quoting 1.85 to 1.95 cr now they are quoting 1.3 cr that higher floor.
    D N Nagar 2 BHK 1.65 cr now 1.25 cr. Lokhandwala 2 BHK 1.95 cr now 1.35 cr. Many examples are there. Please don't believe to advertisements rates given on Magicbricks, 99acres and housing.com rates. They are price hype bubble creator.

    For an example a flat real value is 1 cr. I put an advertisement for sale of same flat with the rate of 1.5 cr and finally make a deal 1.25 cr saying buyer I am giving him 25 lac discount. Builders are doing same thing. People are getting fooled by this tactic.

    Please don't put your hard earned money plus high interest home loan to buy few square feet of grave.

    Wait for few more months.


    Hello Imran

    I kind of do not agree with the above comment as Mohid Heights doesn't have OC and the building is 3-5 years old so there must be something wrong which is why they are selling it at such a dirt cheap price. I would not buy this flat even if they sell it for 1 cr where you are not sure if the building will get OC or not. Apart from this I do not think that the situation is going to go as low as you have mentioned. I do agree that correction will happen but to the tune of 10-15% maximum where builders and investors start to face the credit crunch.
    I am not sure where you are getting your figures from as before demonetization, there was no decent 2BHK anywhere in Lokhandwala available for less than 2.3 to 2.5 cr and in D N Nagar for less than 2cr. Check the facts and please do not mislead any of the readers here to believe in the figures that you have mentioned which have no basis.

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  • When practically go to buy not getting any discount. Modi's demonetisation is more a well sold dream from all aspects.
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  • Originally Posted by Rnadec2015
    When practically go to buy not getting any discount. Modi demonetisation is more a well sold dream from all aspects


    There are many builders specially in new projects offering good subvention offers if not better prices which in the end has the same effect as a discount. I have personally seen a lot of inventory on the market where people are now ready to negotiate, accept old notes etc etc so there is panic in the market and people currently are just refraining from buying real estate so if you are looking for a flat, go to view it and negotiate hard where you will be able to get a good discount of at least 10%. Good Luck.
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    2 Comments
    • jazzyboi2 years ago
      I know that subvention has been around for some time not saying that it never existed. Now builders are ready to move on price of subventions which were fixed at one time before the demonetization. You need to look hard and have serious meetings with builders and see how the builders change their stance. Look hard and you will get better offers.
  • There seems to be standstill on behalf of both sellers and buyers. If buyers are holding on, so are the sellers, hoping to get even higher prices in few months once things stabilize. So the stalemate will continue and only lucky ones will get discount depending on seller situation.
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  • Who will sell? and where will they invest the fund.. with unorganised lending market dead... equities at huge premium/expensive.... many people are being cautious... while others are not while investing in equities , people have short memories....bank interest post Tax at very low level??? if they take full white there will be capital gain..which will again require to be invested...so demand for flat again ...if accept cash..then fear of govt...
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  • Now it seems even RERA is being diluted in Maharashtra (as per proposed draft) so the good times for builder lobby will continue in foreseeable future..
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  • Shame on maharashtra govt for diluting the central govt rera rules
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  • Only premium properties in western & central suburbs are affected. Affordable property (Beyond Dahisar, Beyond Thane) prices remains the same.
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  • It was the best thing that could happen, i wanted to buy another house in south Mumbai for a really long time but everything was just too expensive now because of the 30% drop it has become easier.
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  • Any example of 5-10 year old properties in South Mumbai/ western suburbs would be greatly appreciated
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  • Heard a premium brand underconstruction project in parel dropped asking prices by ~15%. But it is still not worth buying directly as resale prices are lower. Also noticed some ads in toi showing pruces reduced post demonetisation.
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  • Kindly share project name and past-present price for benefit of all.. especially those waiting on sidelines for correction since long time..
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  • The max leverage in price that the opposite party gives to you when you are buying or selling negotiation is 5 to 10%. 30% is never going to happen.
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  • Not sure if this is the right time to invest or is there more changes yet to come.
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  • dalaals are not happy with price drops. next target of modi jee will be builders and their dalaals
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