Hi Experts, Please predict Mumbai property rate 2013. After considering current market and other aspects would it go up/down or stable ?

Please provide your answer like UP / DOWN / STABLE / CAN'T SAY and at the end provide your strong supportive comment . I know it sounds very strong but this is the time we all may use our expertize power. At the end will put a strong answer . Thank you all.
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  • UP..reason is inflation and crook builder/politicians
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  • Up...because spineless Indians are incapable of bringing change to their surroundings. They bear whatever they are subjected to.
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  • I will support for DOWN, oversupply, less demand due to new govt. poly & procedures.
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  • Down…Govt inability to take good policy decisions which will hamper the economy…Politicians will start withdrawing money from real estate for 2014 elections.
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  • We have reached the peak only way left is downwards.
    But I am not an "EXPERT" as your question is directed towards experts :bab (59):
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  • Stable/ slow growth in the medium term and then upwards. Reasons:

    Demand from migrating population: there are more and more people migrating from interiors and this will continue and I do not see any industrialisation/ commerce happening ona large scale anywhere outside Mumbai.

    Increasing local population: Once settled here, hardly anybody will move out of Mumbai, again because of lack of opportunities. So the existing population will go on increasing here. Even if the number of families do not increase...the same families will try to upgrade to better houses and better locations (closer to cities' commerial districts)

    Cost push: The land prices in Mumbai and the building materials will not come down. Similarly increasing fuel costs will add to the cost of materials....and of course....the interest rates!!

    The only thing that can reverse the trend in the medium term is the fact that the recent price hike has been due to huge amount of foreign capital (both listed equity and Private Equity) available to builders.....this led to a rush to acquire landbanks...and hence led to increase in prices. Thanks to the GAAR and policy paralysis the foreign funds pipeline is drying up and this might lead to stability in the medium term.
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  • There is doom n Gloom everywhere.. Only Those who are optimistic will buy now. Euro will fall apart. Protectionism will set in. Jobs will go away. The next Mortgage crisis will take place in India and China. Not today not tomorrow but certainly in some near future in 2-3 years.
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  • My prediction rates wud be betwwn range of 5k to 6 k in NAVI MUMBAI.
    WEST MUMBAI stable.
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  • agree with ajayanari and savvy_v
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  • Originally Posted by ashish908
    agree with ajayanari and savvy_v


    Crash.

    Mumbai RE is cartoon and fiction.

    No sane, hard working person would dump money into 'weekly changing ' prices. No one does it.

    And the best part is , Mumbai losing it's status as the financial hub because of RE. EVERY SINGLE COMPANY is moving out. EVERY ONE.
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  • I do not see any one buying those 7000 INR / SQFT apartments in the suburbs in the next 15 to 20 years. If some one is buying them, he / she is a moron or seriously loaded.
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  • Originally Posted by tulips
    I do not see any one buying those 7000 INR / SQFT apartments in the suburbs in the next 15 to 20 years. If some one is buying them, he / she is a moron or seriously loaded.


    Yeah rite ... everyone else in the world is a moron .... tulips is the smartest bloke around .... Hail tulips !!!!!
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  • Originally Posted by tulips
    Crash.

    Mumbai losing it's status as the financial hub because of RE. EVERY SINGLE COMPANY is moving out. EVERY ONE.


    Can you please name a few in public interest
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  • right now i am only thinking of Anu as why is she posting some article in all posts..its frustrating ....

    ok....after release of frustration i think it will go down....but will not benefit anybody as it still will not be affordable...
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  • Originally Posted by sameer1197
    Hi Experts, Please predict Mumbai property rate 2013. After considering current market and other aspects would it go up/down or stable ?

    Please provide your answer like UP / DOWN / STABLE / CAN'T SAY and at the end provide your strong supportive comment . I know it sounds very strong but this is the time we all may use our expertize power. At the end will put a strong answer . Thank you all.

    Property prices will start falling from the second half of 2013. Lok Sabha elections will be round the corner and politicians will be selling part of their black money parked in real estate to raise money for elections. Congress is set to lose big time in 2014 elections and if that happens, then inflation and high prices will be wiped away. Property rates will fall to their more realistic levels starting 2014. I think we are having a buyer's market 2 years away but we have to be patient !!!!!
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