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No Distress Sales in NCR Real Estate

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No Distress Sales in NCR Real Estate

Last updated: December 23 2013
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  • No Distress Sales in NCR Real Estate

    Is there any distress sales happening in NCR? I think in proportion to reduction of buyers, no. of sellers also reduced to a great extent as most of the sellers have cancelled their plans to sell their properties. There are many threads in this forum claiming distress sales in NCR, however, none of them is capable of suggesting any distress sales actually. I am looking for discounted rates but nowhere I found any such property in distress sale.

    Recently one renowned brokerage firm (In******* CL****) contacted me and informed that a very good project in Sector-78, Noida which is nearing possession in 6 months, is selling at a huge discount since they want to clear their inventory before possession to invest in another project. The price quoted to me was really 300-400 psft less than the price quoted by other borkers. However, when I enquired in builder office in Indirapuram than found that a liability of 1800000 was pending on the brokerage firm with respect to such property as the property was bought by the brokerage firm. So, most of the brokerage firms who created property bubble are in big distress as unable to clear their inventories.

    I know one broker associated with the brokerage firm (In******* CL****) who tried to cheat me. Broker is Navneet .
    Last edited December 18 2013, 05:24 PM. Reason: Links/Solicitation/Referrals are not allowed.
  • #2

    #2

    Re : No Distress Sales in NCR Real Estate

    Project name is Aditya Celebrity Homes, I suppose as these guys are persuing this project since last 6 months at all inclusive rate of Rs 4800. Just a guess based on the calls received few months ago.

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    • #3

      #3

      Re : No Distress Sales in NCR Real Estate

      Originally posted by tiptip View Post
      Is there any distress sales happening in NCR? I think in proportion to reduction of buyers, no. of sellers also reduced to a great extent as most of the sellers have cancelled their plans to sell their properties. There are many threads in this forum claiming distress sales in NCR, however, none of them is capable of suggesting any distress sales actually. I am looking for discounted rates but nowhere I found any such property in distress sale.

      Recently one renowned brokerage firm (In******* CL****) contacted me and informed that a very good project in Sector-78, Noida which is nearing possession in 6 months, is selling at a huge discount since they want to clear their inventory before possession to invest in another project. The price quoted to me was really 300-400 psft less than the price quoted by other borkers. However, when I enquired in builder office in Indirapuram than found that a liability of 1800000 was pending on the brokerage firm with respect to such property as the property was bought by the brokerage firm. So, most of the brokerage firms who created property bubble are in big distress as unable to clear their inventories.

      I know one broker associated with the brokerage firm (In******* CL****) who tried to cheat me. Broker is Navneet .
      Thanks Sir. You saved me. Let me fill up the gaps - In*****rs CL***C. Thanks again I was about to become a bakra by Mr. Rabbani.
      Last edited December 18 2013, 07:14 PM. Reason: Links/Solicitation/Referrals are not allowed.

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      • #4

        #4

        Re : No Distress Sales in NCR Real Estate

        I think "In*****rs CL***C" already has a poor image so again poeple please avoid such brokers and do proper due diligence before finalizing a property.

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        • #5

          #5

          Re : No Distress Sales in NCR Real Estate

          Brokers arent brokers anymore. Their job isnt to make deals happen.
          Their job is to eat as much as possible between buyer and seller price.

          They like to call themselves property dealers. They are brokers to only to the extent that they offload their stock to you and it doesnt mean they are helping you get deals because deals are for them only.

          I dont know whether posting WANTED ads help in newspapers for buyers.

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          • #6

            #6

            Re : No Distress Sales in NCR Real Estate

            Originally posted by tiptip View Post
            Is there any distress sales happening in NCR? I think in proportion to reduction of buyers, no. of sellers also reduced to a great extent as most of the sellers have cancelled their plans to sell their properties. There are many threads in this forum claiming distress sales in NCR, however, none of them is capable of suggesting any distress sales actually. I am looking for discounted rates but nowhere I found any such property in distress sale.

            Recently one renowned brokerage firm (In******* CL****) contacted me and informed that a very good project in Sector-78, Noida which is nearing possession in 6 months, is selling at a huge discount since they want to clear their inventory before possession to invest in another project. The price quoted to me was really 300-400 psft less than the price quoted by other borkers. However, when I enquired in builder office in Indirapuram than found that a liability of 1800000 was pending on the brokerage firm with respect to such property as the property was bought by the brokerage firm. So, most of the brokerage firms who created property bubble are in big distress as unable to clear their inventories.

            I know one broker associated with the brokerage firm (In******* CL****) who tried to cheat me. Broker is Navneet .
            Sir, if there are no distress sales or further corrections. What will happen to all these inventories held by these C**** C*****cs type brokers. May be the distress sale is already out there, you just need to work hard.
            Last edited December 18 2013, 07:14 PM.

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            • #7

              #7

              Re : No Distress Sales in NCR Real Estate

              Members, please note -

              Quoting Broker contact details is against the rules . Please don't quote Broker contact details in posts .

              Links/Solicitation
              Advertising goods or services related or unrelated to Real Estate, posting of affiliate or referral links, or any other form of solicitation is NOT permitted (this includes member profiles or any other publicly viewable area). Links on first post (or first couple if you're being slick) to your own site: If it's a competing website, not okay. If it's a blog entry you're referring to, that's alright. Bottom line - Don't come here to pimp your site – come here to be a member. Links to your own site, in general: Sorry. Not Allowed.
              Please read IREF rules | FAQ's

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              • #8

                #8

                Re : No Distress Sales in NCR Real Estate

                Originally posted by khushnaseeb View Post
                Thanks Sir. You saved me. Let me fill up the gaps - In*****rs CL***C. Thanks again I was about to become a bakra by Mr. Rabbani.
                Kumbh ke mele main bhicade hue Bhai aaj IREF main mil gaye...

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                • #9

                  #9

                  Re : No Distress Sales in NCR Real Estate

                  Kahin tum woh to nahin....

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                  • #10

                    #10

                    Re : No Distress Sales in NCR Real Estate

                    Originally posted by ashish18 View Post
                    Sir, if there are no distress sales or further corrections. What will happen to all these inventories held by these C**** C*****cs type brokers. May be the distress sale is already out there, you just need to work hard.
                    Sir, I discussed this point with the representative of this renowned builder. Builder told me two things -

                    1. when there are no pending dues or minor pending dues then such brokerage firm do not sell at discounted rates. So no distress sale.
                    2. When there are significant pending dues on any property booked by a brokerage firm than
                    (a) either brokerage firms try to cheat new buyers by giving a discount and after giving booking amount cheque/cash, new buyers find he has to pay those additional charges to builder otherwise buyer has to forgo the booking amount. Even if brokerage firm is professional and disclose the pending dues on the property to his customer/new buyer, there is no effective discount to buyer due to pending dues, so again no distress sale.
                    (b) Either brokerage firm defaulted on pending dues and builder go for legal action or brokerage firm surrender the property to builder. The unpaid pending dues are negotiated and paid later in another property transactions between the broker firm and builder.

                    So in short, no brokerage firm actually do a distress sale, nor buyer can actually get anything at discounted rates.

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