I am now really confused. Just before 2 months, I was so sure of buying a house this December, but now looking at articles such as:

and reading too much in this forum that down turn in RE has still to come, I am not sure what to do. Summarizing these factors:
1) Banks and builders' lobby supported builders till now, making the builder sustain same old high prices. but eventually, they may have to reduce prices to sell flats
2) Unreasonably quick recovery indicates another downfall..........

Now, coming to my own situation:
I am an NRI who has already planned the vacation in December for house hunting, I am very hopeful about Navi Mumbai (as a lot of development is planned there by CIDCO, such as Airport, Central Park, Iskon Temple, Theme Park, etc). So, it's possible that prices in Navi Mumbai (esp Kharghar) will not have larger impact of the recession and instead may stagnate or even slightly increase. Does anyone else believe in this theory? Or do you think that prices at Kharghar have already increased too much considering the coming up developments in the area?

Now, postponing the decision to buy is not even cheap, as I will again have to make plans for another vacation soon, when the RE market actually goes down. This doesn't seem that simple. Any suggestions for me?
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  • Navi Mumbai and Pune are two of the cities with the highest number of ununsed housing stock lying vacant, investment in such places is always highly risky due to supply side pressures...

    btw, most of the properties in navi mumbai are crap quality, due to nature of people buying those. when you will visit the place you will know what i mean :)
  • Re

    Well, i am staying In Navi Mumbai, Belapur from Last 2 years., but as such there is no crap, i like the place and investing your money at Kharghar is not a bad idea at all.These places are going to develop in the coming future.
  • hi...as such there is never a wrong time to buy a house is what people say. I have personally been to khargar and there is a world of difference between the prices. Today whatever couple of houses I was shown it was being quoted at 65 lakhs which is not a small amt atleast for Indians living here. Every estate agent has some lanky piece of article in the papers talking abt the airport coming (god knows when) So if u r looking for an investment perspective would suggest look at ghodbunder road or if insisting on khargar u will have to go a little more inside (3-4kms) from station to get something reasonably priced. I also found the buildings to be of not great construction quality and deteriaration may be faster as it is on marsh land and salt pans