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New Mhada Scheme Puts Leading Builders on Backfoot

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New Mhada Scheme Puts Leading Builders on Backfoot

Last updated: July 9 2009
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  • New Mhada Scheme Puts Leading Builders on Backfoot

    http://timesofindia.indiatimes.com/M...9264.cms#write

    Excellent article .. a ray of hope for those longing to put a roof over their head

    Btw .. a small correction regarding the rates mentioned in the print article .. the Mhada rates quoted are for carpet area but builders' rates given are for super built up area .. hence a ~1000 sq ft mhada flat goes for 57 Lakhs and an equivalent area flat from a private builder goes for more than 2 Cr.

    I think this is just the beginning .. once the MHADA flats start getting alloted .. most people are likely to flip them in the open market .. even at twice the rate i.e. doubling your money literally overnight the resold Mhada flats would be cheaper .. once that happens .. there is going to be a bloodbath .. whoever has money and wants to buy a flat would go and buy a Mhada flat sucking out demand from other properties ... the transactions will cause a sudden vaccum in demand which should result in an immense downward spiral of the rates .. more importantly because the elections are coming and builders will have to cash out to pay their political bosses ..

    Builders have oppressed the common man for far too long now .. Roti, Kapda aur Makaan are the basic of life .. they have denied this to the common man by their own and investors' greed for way too long now

    Are we seeing the making of a perfect storm?? Kindly share your opinions
    1. Recession / Job loss = lesser chances of people taking risk with high EMIs .. the mood has definitely turned sombre from being extactic just a few months back
    2. Liquidity issues = Banks unwilling to lend / pass on benefits of low interest rates
    3. Elections = Builders need to cash out to pay their political masters to fund elections
    4. Mhada allocations = properties available at a fraction of the market rate

    = ??? .. will the rates finally come down?

    And I feel once Mumbai rates come crashing .. the rest of the country would just follow .. Mumbai led the rise and will lead the crash we well.
    Last edited February 6 2009, 09:50 AM. Reason: Spelling
  • #2

    #2

    Re : New Mhada Scheme Puts Leading Builders on Backfoot

    Mumbai quiet??

    Why has the Mumbai board gone quite all of a sudden? 69 views and not a single reply yet??
    MODS .. I hope you relax your strict policing of posts .. its a discussion forum for God's sake .. if people are not allowed to post their thought freely .. it will just discourage them from coming to your website.
    Last edited February 23 2009, 10:41 AM. Reason: spelling

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    • #3

      #3

      Re : New Mhada Scheme Puts Leading Builders on Backfoot

      Originally posted by Kimmig View Post
      Why has the Mumbai board gone quite all of a sudden? 69 views and not a single reply yet??
      MODS .. I hope you relax your strict policing of posts .. its a discussion forum for God's sake .. if people are not allowed to post their thought freely .. it will just discourage them from coming to your website.
      For some reason the level of moderation on this site is of paranoid proportions. Not sure why. It has discouraged a number of posters in the past and the website is losing a lot of traffic because of this. Hope the admin/owner takes notice.

      The bulk of the posters on this site hang out in the 'Chennai' forum. That's where you'll see the max activity. Check it out. All the points you have mentioned have been discussed in their entirety in some earlier posts.

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      • #4

        #4

        Re : New Mhada Scheme Puts Leading Builders on Backfoot

        I agree ...

        Originally posted by Kimmig View Post
        Why has the Mumbai board gone quite all of a sudden? 69 views and not a single reply yet??
        MODS .. I hope you relax your strict policing of posts .. its a discussion forum for God's sake .. if people are not allowed to post their thought freely .. it will just discourage them from coming to your website.

        All you people from other parts of the country (and world too). These Chennai (Bangalore) guys are hijacking this post and we are seeing little traffic from others.

        Come in strongly and start posting about your local areas/regions. This will give us all a wholistic picture about the market all over India and where it is headed and how fast its reaching there.

        I'm sure a lot of people are getting bored with Chennai/Bangalore - as though there is no other place on earth!!!

        Will help a lot of people decide when and where to put their hard-earned money.

        The forum owners may also decide (sometime later) to allow a separate section where members can buy-n-sell (but you have to be registered like in Ebay) so that we can get rid of the brokers and give a fair deal to both parties. Idea?

        cheers

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        • #5

          #5

          Re : New Mhada Scheme Puts Leading Builders on Backfoot

          Originally posted by wiseman View Post
          All you people from other parts of the country (and world too). These Chennai (Bangalore) guys are hijacking this post and we are seeing little traffic from others.

          Come in strongly and start posting about your local areas/regions. This will give us all a wholistic picture about the market all over India and where it is headed and how fast its reaching there.

          I'm sure a lot of people are getting bored with Chennai/Bangalore - as though there is no other place on earth!!!

          Will help a lot of people decide when and where to put their hard-earned money.

          The forum owners may also decide (sometime later) to allow a separate section where members can buy-n-sell (but you have to be registered like in Ebay) so that we can get rid of the brokers and give a fair deal to both parties. Idea?

          cheers
          a man asked a woman why she kept her money in her blouse?
          she replies "i want to put my money where it will attract more intrest !?
          (with due respects to womanhood).
          chennai seems to be the blouse of indian RE.

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          • #6

            #6

            Re : New Mhada Scheme Puts Leading Builders on Backfoot

            Originally posted by wiseman View Post

            The forum owners may also decide (sometime later) to allow a separate section where members can buy-n-sell (but you have to be registered like in Ebay) so that we can get rid of the brokers and give a fair deal to both parties. Idea?

            cheers
            Dear friend

            ofcourse... Good Idea

            Thanks

            chataara

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            • #7

              #7

              Re : New Mhada Scheme Puts Leading Builders on Backfoot

              Good News fo Chennai DLF Garden City buyers.

              DLF revising the Garden City Price ....(Appreciate DLF...Not Appreciation in RE)

              Early bird offer of Rs 2,650 a sq.ft up to May 31.(which was priced * Rs 3200 / SQFT)

              http://thehindubusinessline.com/2009...2451031300.htm

              Kudos to DLF GardenCity Customers.

              Bombayites,

              As Wiseman stated "Come in strongly and start posting about your local areas/regions. This will give us all a wholistic picture about the market all over India and where it is headed and how fast its reaching there".

              This will help to locate & shun the bad guys.

              And there could be many projects which were booked during boom time hijacking the customers with 'early bird peanut offer' which you would have entered in 2-3 days of hasty decisions.

              Otherwise the promoters will be thinking that they offer good product/price. Am surprised as the boom-boom price escalation were initiated by you guys ... & other cities also got proportionate price escalation because of you guys ...

              Or the builders are so good that you dont have any issues ?

              Cheers..

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              • #8

                #8

                Re : New Mhada Scheme Puts Leading Builders on Backfoot

                Sethugm, you are correct when you say "the boom-boom price escalation were initiated by you guys ... & other cities also got proportionate price escalation because of you guys ..." .. the RE boom was indeed led by Mumbai fed with black money from the fat cat babus sitting in Delhi .. bleeding the nation thru kickbacks on everything they touch

                I say that because in a number of investor properties, once you reach a certain stage of discussions, the broker will tell you that further discussions will happen with the owner who will come from somewhere in the NCR (Delhi, Chandigarh etc) .. .. once mumbai prices skyrocketted the rest of the nation followed as a knock on effect

                Which is why the builders in Mumbai are doing whatever they can to stem the crash and will go to any level to ensure that the market does not crash. When you are a seller, demand/supply is an easy ploy to pump up rates, but not on the way down. Last week one Mr Javale, CEO of MHADA, got transferred today. According to news reports, this action seems to be influenced by the builder lobby and aimed at deliberately slowing down the speedy allotment of MHADA flats which was put on a fast track by Mr Javale.

                The builders know that once the MHADA allotments are done .. rates will crash like nothing. Greedy builders are holding the common people at ransom by artificially inflating prices of homes, making them unaffordable to common people and our dirty congress govt is supporting them by strangling organizations like MHADA, which are supposed to help the common people get a roof on their heads.

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                • #9

                  #9

                  Re : New Mhada Scheme Puts Leading Builders on Backfoot

                  Im just waiting for the fall. when you expect the MHADA allotment is going to take place. so we can hold the purchase till then.

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                  • #10

                    #10

                    Re : New Mhada Scheme Puts Leading Builders on Backfoot

                    Originally posted by newboy View Post
                    a man asked a woman why she kept her money in her blouse?
                    she replies "i want to put my money where it will attract more intrest !?
                    (with due respects to womanhood).
                    chennai seems to be the blouse of indian RE.
                    Dear friend,

                    I do not tend to disagree with your above comments- Chennai seems........

                    ks2071746

                    Comment

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