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3BHk @thane

Last updated: December 27 2012
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  • #11

    #11

    Re : 3BHk @thane

    Originally posted by dubyaskin View Post
    one crore? thane ? are there any one buying in thane for such exorbitant prices ? Any thing over 40 lacs in Thane is a rip off for a 3 bhk. There are fancy rates and all there. But they are all notional prices. Every friday, the local broker displays properties at certain rate and every one thinks rates shot up.

    And come to think of it, just about 3 years ago, the rates were at 5 K / sqft ( which at the time itself were a rip off).
    Hey dubyaskin..while I appreciate ur sentiment, the market is not the same as 3 years ago now. Genuine end users (including myself) have bought and are buying in Thane at the rate of ~Rs 7000 -~Rs 7500 psf and have started living also...most of the completed buildings now have an occupancy of more than 60-70%. Also, if u compare areas in Mumbai, Thane rates at ~Rs 7500 psf are still lower than rates even in kandivali or dahisar, while (according to me) thane offers much better open spaces and commute..

    My request to you and everyone else is to not get swayed by sentiments and put information based on actual research...

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    • #12

      #12

      Re : 3BHk @thane

      Originally posted by skjinvestor View Post
      Hey dubyaskin..while I appreciate ur sentiment, the market is not the same as 3 years ago now. Genuine end users (including myself) have bought and are buying in Thane at the rate of ~Rs 7000 -~Rs 7500 psf and have started living also...most of the completed buildings now have an occupancy of more than 60-70%. Also, if u compare areas in Mumbai, Thane rates at ~Rs 7500 psf are still lower than rates even in kandivali or dahisar, while (according to me) thane offers much better open spaces and commute..

      My request to you and everyone else is to not get swayed by sentiments and put information based on actual research...

      Not sure if that is an appropriate description of what I said. But taking from what you had left, 7500/sft is exactly what I mean is the rip off price. Unfortunately it has become game of relativity. People try to compare prices of Mumbai and take solace. But that is where every one is getting cheated. For one, Mumbai and Thane are different. They are two different cities altogether. Secondly, the value for money one gets in proper Mumbai is not same as in Thane.
      In Mumbai the OFFSET price itself is fraud. price rise is way of life when it comes to housing. But 500% to 600% price rise in a matter of 5 years is a scam . Nowhere on earth, no commodity , ever increased that much in history of the human race. That is not research . That is common sense.


      That said, it is not my intention to cause grief to people who shelled out hard earned money to buy over inflated properties ( after all , if a person is happy living where he is , then it is worth it no matter the price), but the hard facts remain. A person shells out 10 years worth earning to purchase a house and counting on a resale value that too in overcrowded Thane, then it is a very sad state.

      The housing prices in Mumbai and suburbs are inflated by a factor of 2 ( at a minimum). So what should have costed 30 lacs costs 70 lacs upwards.

      Do not fall prey to what appears in Saturday edition of real estate supplements. TOI, DNA, HT and IE have stakes in every single major RE ventures. Some of these RE editors are on their boards as well as associates in RE research firms. It is like HIRANANDANI being city's development council member.
      Last edited December 7 2012, 04:14 PM.

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      • #13

        #13

        Re : 3BHk @thane

        i read in today's mumbai mirror advertisement of Haware city, located behind hyper city mall with 3 bhk - 68.94* Lacs onwards.
        You may want to check that out.
        All d best.

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        • #14

          #14

          Re : 3BHk @thane

          Originally posted by dubyaskin View Post
          one crore? thane ? are there any one buying in thane for such exorbitant prices ? Any thing over 40 lacs in Thane is a rip off for a 3 bhk. There are fancy rates and all there. But they are all notional prices. Every friday, the local broker displays properties at certain rate and every one thinks rates shot up.

          And come to think of it, just about 3 years ago, the rates were at 5 K / sqft ( which at the time itself were a rip off).
          Good Morning...yeah i think u have just woke from a long sleep....Thane west RE prices are on the run (like the auto meter) - 40L for 3BHK - well u may get in Thane area (which ppl call Badlapur) - some of the adverts say Thane West but actually they are either Badlapur, Shahpur etc

          Even in Dombivli East - Lodha CRG is quotign upwards of 90L for 3BHK...

          Anyways, prices in "real" Thane West are on the rise and normal 2BHK (750 carpet) can be in the range of 76L to 92L...Pokhran1 & 2 will be a little of higher side - touching 1CR...Hira Gardens of example - Vasant Vihar is well developed social infrastructure and commands premium pricing...

          cheers!!

          Comment

          • #15

            #15

            Re : 3BHk @thane

            Originally posted by simsagar View Post
            Good Morning...yeah i think u have just woke from a long sleep....Thane west RE prices are on the run (like the auto meter) - 40L for 3BHK - well u may get in Thane area (which ppl call Badlapur) - some of the adverts say Thane West but actually they are either Badlapur, Shahpur etc

            Even in Dombivli East - Lodha CRG is quotign upwards of 90L for 3BHK...

            Anyways, prices in "real" Thane West are on the rise and normal 2BHK (750 carpet) can be in the range of 76L to 92L...Pokhran1 & 2 will be a little of higher side - touching 1CR...Hira Gardens of example - Vasant Vihar is well developed social infrastructure and commands premium pricing...

            cheers!!

            I guess you are getting it all wrong. It is not WHAT IS QUOTED that I was talking. It was WHAT IS WORTH. So there is a difference here.

            Comment

            • #16

              #16

              Re : 3BHk @thane

              Originally posted by dubyaskin View Post
              I guess you are getting it all wrong. It is not WHAT IS QUOTED that I was talking. It was WHAT IS WORTH. So there is a difference here.
              In your thinking of " not being worth or such a high price not justified for thane " well to be honest the full of Bombay is that way .. Read the newspaper some flats in South Bombay sold for 1,20,000 psf .. I feel its a joke .. whats so special about south bombay ?

              I have lived in south bombay for 20 years of my life and now im in western suburbs and i find this much better .. So why does south bombay cost 50k psf plus .. not worth it at all imho ...

              Comment

              • #17

                #17

                Re : 3BHk @thane

                What the person with the userid "Dubyaskin" is saying is logical and makes perfect sense.

                I went to Lodha Splendora a few weeks back. I was told a 1.5 BHK flat in a building "Vivant" (the work on which, I was told, would start after a few months) with an area of 900 sq. ft has a pre-launch rate of Rs 9000 per sq. ft (plus floor rise). Unless someone has oodles of black money, the person must be bonkers to book at Rs 9000 per sq. ft at Ghodbunder road in Thane.

                Dubyaskin is not disputing that transactions may be taking place at Thane for 1 cr+ today for a 3BHK, but raising concerns whether paying 1 cr+ for a 3 BHK is really VFM for this area.

                One more thing....let's take the case of the Lodha Palava city. On this very forum, a number of persons have expressed concerns about the biggest garbage dumping ground in and around the Mumbai/Thane area coming up just a few kms. away from the Lodha Palava city. The moment I heard this news, I gave up the idea of booking a flat at the Casa Rio.

                http://www.***************/forum/8-ca...ar-kalyan.html

                And then the commuting distance to Lodha's Palava city. Yet people are booking flats in the Casa Rio in Dombivili at approx. Rs 4700 (plus floor rise) etc.

                One last thing....various reasons are given why the Mumbai real estate would not crash etc. Yet the same reasons still existed a few years back when the property market had crashed in Mumbai. We all know that like any other industry, even the real estate is cyclical. We also know that Mumbai's real estate market has got so overheated at present that a correction is inevitable sooner or later. Yet, some people are investing in areas which are just not value for money hoping against hope that the market will keep on increasing (without any sort of correction) till kingdom come....
                Last edited December 9 2012, 03:32 PM.

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                • #18

                  #18

                  Re : 3BHk @thane

                  If the people's sentiments are ready to pay the price than that becomes the "rate" for the area - so questions like is it worth it? is it jistified etc? makes absolutely no sense.

                  People who thin the price is not justified or proces will crash will ahev nedless wait - with 125++ crore people the RE sector prices esp. for residential apts will sky-rocket...

                  cheers!!

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                  • #19

                    #19

                    Re : 3BHk @thane

                    general thinking

                    jeans coming 100 rs and coming 3000 also still people buys-- cause 3000 wala comes with brand and quality.

                    Comment

                    • #20

                      #20

                      Re : 3BHk @thane

                      I certainly do not want my response to be degraded to some brainless comparison with jeans and jeans brand.

                      The word Sentiment while buying a property ( which is not worth ) is like searching for your viscera in you knee. It is nonsensical to say the least.

                      One word : ECONOMICS.

                      "Not worth it" in real estate means - there is a GAPING HOLE between rental yield and price of the apartment. This is the RUDIMENTARY standard used in REAL ESTATE purchase ALL OVER THE WORLD , every darn nook and cranny of the world. Not in India. Cos in India , there are more REAL ESTATE pundits than stray dogs. EVERY ONE HAS A THEORY.

                      Historically a healthy housing sector growth is entwined with the GDP of the country. 20% YoY is a considered 'hot wheels ' for developing economies like China and India.

                      INDIA IT IS 50% - 100% YOY in METROS. That is when the question of WORTHINESS comes into picture.

                      I lived all my life in Hiranandani Powai.

                      What do you call price rise from 4000/sqft to 30000/sqft in a span of 8 years ? So sentiments and bull has only that much value.

                      No one objects if one wants to go dump hard earned money for a POSH house twice the actual cost , go ahead, MARO..no one stops..

                      But what I said about Thane is exact same. ..from 1300 /sqft to 13000 /sqft in a span of 7 years ( since 2004).

                      Some wise guy may explain the SENTIMENTS, LONG SLUMBER and OTHER RHETORIC HOG WASH

                      Also that is when I said the Real estate is inflated by a FACTOR OF TWO. because it is TWICE the normal Y0Y growth of a growing economy.

                      Reason ? People's greed and absence of regulation.
                      Last edited December 11 2012, 07:56 PM.

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