Hi all!!

I am new to this forum and i need your suggestions .. I am thinking of investing in a 60 meter plot in sector 29 of Rohini . The prevailing market price is between 80-85 Lacs .

To me ,the current rates seem very high considering there is no light , water , infrastructure in these sectors . The only structure that we see is the flats that came recently in the DDA Housing scheme 2010 otherwise its just a jungle at present(with few exceptions of constructed plots of various property dealers) . In the month of december 2010 these same plots were selling for 60 lacs i.e. 1 lac a square meter . The prices have escalated nearly 40-45% in the last 4-5 months .

Whats your say guys, is it worth investing there now and holding on for 2-3 years or shall i wait for the correction , is correction expected in these sectors , if yes how long you think it will take ?

Thanks in advance .
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  • Everything will be there on time, but I think overall rates of Rs 80-85 Lakhs is somewhat high. See, if you can get it cheaper...
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  • Hi,

    1. The rates escalation is not seen only in these sectors. Same % hike has been in all sectors of Rohini as a plot in developed Sec 24 was available in 1.1-1.2 cr in now going for 1.6-1.7 cr

    2. These sectors have a better proposed connectivity than Sector 11, 24 of Rohini, which will certainly come up with time.

    3. These sectors are very well planned (Chandigarh style) with broad roads and no scope of commercial activity on main roads.

    4. The no of plots is very less as comparision to the anticipated demand as these sectors are near to Bawana Industrial area which is 3 times bigger than IMT manesar with a avg of daily one factory inagurating now a days.

    5. When the rates in a Sector 3 km away is double than this there is always the scope that gap will minimize and come at par as these sectors develop. So even if the overall rates stay constant the rates here will appreciate and I have seen that happening in past 15 years when I have revolved my investments in Rohini from more developed sectors to less developed sectors.

    So I would recommend you to buy here at even this rate but you need to have a time frame of at least 4-5 years as the rates have gone up recently next way may take a bit of time to come up (Rates always goes up in Rohini in waves and not like gurgaon where the appreciation is quite constant but each wave is very strong and moves up the prices by 40-50% in 2-3 months.).



    - Gaurav
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  • some one guide how much rate for 30sq mt plot in rohaini
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  • Thanks guys for your suggestions!!

    Hi gaurav , buddy below is my pov ..

    Originally Posted by gaurav_chugh
    Hi,

    1. The rates escalation is not seen only in these sectors. Same % hike has been in all sectors of Rohini as a plot in developed Sec 24 was available in 1.1-1.2 cr in now going for 1.6-1.7 cr


    Agreed , the prices have gone up overall in Rohini but buddy my ques is how can the % of appreciation be same in the jungles(no light ,water basic amenities) as in the already developed areas . Is it possible without the games/hype of the local brokers ?

    Originally Posted by gaurav_chugh
    2. These sectors have a better proposed connectivity than Sector 11, 24 of Rohini, which will certainly come up with time.


    Kindly throw some light as i always thought sec 24 , 11 , 7-8 etc having excellent connectivity and always seems a part of delhi as compared to sec 28-32 ? Please confirm us the proposed connectivity for sec 28-32 ?

    Originally Posted by gaurav_chugh
    3. These sectors are very well planned (Chandigarh style) with broad roads and no scope of commercial activity on main roads.


    Agreed they are planned that way and so were sec 3 , 7 ,8 , 11 etc but now you see in almost all the sectors (infact nearly all the main roads of new delhi, espically east , west and north delhi) the Government has notified the roads and people are using the premises as commercial that was initially planned as residential . Sector 24 was also planned the same way but you see the shops of property dealers in nearly every constructed house , tomorrow when the MCD would come to seal the premises , they would again come down on roads and do all that dharna etc. and after few days of an-shan ,traffic jams , lathi charges etc the govt. would convert these roads too into commerical/mixed land use and there goes the original planning ... There is nothing more important than the vote bank for our government . `

    Originally Posted by gaurav_chugh
    4. The no of plots is very less as comparision to the anticipated demand


    I dont think there is much demand from the end users in these jungles . In sec 24 yes but not in these sectors .. The hype was created by the local dealers of rohini and the reason of such steep price is nothing but the trading done by these local dealers . I know few dealers who didnt even have the capacity to buy one plot was purchasing 4-5 plots on byana(initial some of money to block the deal) and creating hype and selling it off at a handsome premium within the byana period .

    Originally Posted by gaurav_chugh
    So I would recommend you to buy here at even this rate but you need to have a time frame of at least 4-5 years as the rates have gone up recently next way may take a bit of time to come up (Rates always goes up in Rohini in waves and not like gurgaon where the appreciation is quite constant but each wave is very strong and moves up the prices by 40-50% in 2-3 months.).


    I agree , one needs to have the time-frame of 4-5 years if he needs to invest at current levels but i somehow feel one should wait for 3-4 months(the prices wont go beyond the current levels anyway) and let there be some stagnancy, less movement/transactions(which we can see already compared to 3 months ago) and we may see prices coming down as many people/dealers who had puchased more than they could may wish to sell once they dont find any immediate buyers .
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  • "i somehow feel one should wait for 3-4 months(the prices wont go beyond the current levels anyway) and let there be some stagnancy, less movement/transactions(which we can see already compared to 3 months ago) and we may see prices coming down as many people/dealers who had puchased more than they could may wish to sell once they dont find any immediate buyers"

    Yes.This is the most accurate answer to the question you posed in the opening message. .
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  • "the prices wont go beyond the current levels anyway"

    I kept thinking like this for 4-5 years... and guess what happened?

    Nevertheless, Sector 29 seems to be poorly connected - 31/32 will have better options I think.
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  • My answers below

    Originally Posted by VarunVKV
    Thanks guys for your suggestions!!

    Hi gaurav , buddy below is my pov ..



    Agreed , the prices have gone up overall in Rohini but buddy my ques is how can the % of appreciation be same in the jungles(no light ,water basic amenities) as in the already developed areas . Is it possible without the games/hype of the local brokers ?
    The appreciation in always more in Jungles rather than already grown parts of the city. Its because they are discounting the development that would take place. Same is true in Gurgaon, otherwise no one would run to GCx road instead of DLF phase 1 & 2. If you visit GCx you would find there is no easy way even to reach to the plots. 1 instance. I sold off a 90 m plot in Sec 16 Rohini and bought 2 with the same amount in Rohini Sec24 in year 2003. Sec 24 was in same condition at that time as are the new Sectors now. Now each plot is more expensive then the 1 in Rohini Sec 16.



    Kindly throw some light as i always thought sec 24 , 11 , 7-8 etc having excellent connectivity and always seems a part of delhi as compared to sec 28-32 ? Please confirm us the proposed connectivity for sec 28-32 ?

    I am also attaching the map with this -

    1. Urban Extension Road 3 (80 m road that divides sec 29-28) It will connect NH1 to NH4
    2. UER 2 (100m road behind sec 29) which will connect Nh1, Nh4, NH8 & Dwarka Expressway
    3. 45 m Road that will connect Prem Bari pul to Bawana.

    Metro extension from Badli to Bawana going besides Sector 27, 28, 29.

    Metro extension from Rithala to Barwala.





    Agreed they are planned that way and so were sec 3 , 7 ,8 , 11 etc but now you see in almost all the sectors (infact nearly all the main roads of new delhi, espically east , west and north delhi) the Government has notified the roads and people are using the premises as commercial that was initially planned as residential . Sector 24 was also planned the same way but you see the shops of property dealers in nearly every constructed house , tomorrow when the MCD would come to seal the premises , they would again come down on roads and do all that dharna etc. and after few days of an-shan ,traffic jams , lathi charges etc the govt. would convert these roads too into commerical/mixed land use and there goes the original planning ... There is nothing more important than the vote bank for our government . `

    All the main roads are surrounded by big green belts followed by institutional area -So no plots on main road for commercial activity.

    Only 4 24 m roads in each sector out of which only 2 are 500 m or long. All the plots on these roads are either 250 sq yd or 400 sq yd - Commericial activity can only take place on these.

    All 400 sqyd & 250 sq yd plots on 12.5 m rooad so no commercial activity possible here.

    All 60 m plots on 12 m roads so no commercial activity possible here.

    All 32 m plots on 9 m roads so no commercial activity possible here.



    I dont think there is much demand from the end users in these jungles . In sec 24 yes but not in these sectors .. The hype was created by the local dealers of rohini and the reason of such steep price is nothing but the trading done by these local dealers . I know few dealers who didnt even have the capacity to buy one plot was purchasing 4-5 plots on byana(initial some of money to block the deal) and creating hype and selling it off at a handsome premium within the byana period .

    Why these people were not able to create demand 2 years ago during recession or in the period before 6 months.
    Its just that they are making use of the scenario. Demand always comes from investors or end users .... Bas jab aisa time hota hain is logon ki panchon ungliyan ghee mein hoti hain..



    I agree , one needs to have the time-frame of 4-5 years if he needs to invest at current levels but i somehow feel one should wait for 3-4 months(the prices wont go beyond the current levels anyway) and let there be some stagnancy, less movement/transactions(which we can see already compared to 3 months ago) and we may see prices coming down as many people/dealers who had puchased more than they could may wish to sell once they dont find any immediate buyers .

    As I said earlier present wave is cooling off now, I dont foresee next wave coming in less than 6 months so u can wait... but dont hope that rates will cool off, they wont go down more than 5% and there is 90% chances(assuming that there is no recession like situation) that it wont even cool off by that margin, because this wave was pan Delhi and not limited to these sectors... But if an expected wave come in less than 6 months the rates would be even higher.....





    My strategy is its never a wrong time to invest in property here just that after buying u need to forget it and should not check the prices before an years.
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  • Originally Posted by gaurav_chugh
    My answers below

    My strategy is its never a wrong time to invest in property here just that after buying u need to forget it and should not check the prices before an years.


    First of all thanks for the map.

    You have talked about a few roads and of course metro.

    I am sure you are aware that work on Urban Extension Roads is almost on standstill since last many years (at least since 2003-04) and not much progress has been made on it because a lot of land on which these roads are to be built is under all kind of legal disputes. Some illlegal colonies have come up on the route of these roads because DDA didn't bother to acquire land in some sectors of Rohini phase-5 and these illegal colonies have the full support of Congress politicians (both small and big ones). They will never allow land in their illegal colonies to be acquired for useless things like roads. I guess you are already aware of what is going on in Bhagya colony in sector-40 from where 100 meter road is to pass?

    So only god knows if and when these legal disputes will be resolved, land acquired and roads built.

    Now there is a map on display at Rithala metro station (platform No.-1) since inauguration of that station in March, 2004 that is showing that the Rithala metro line will be extended in the direction of sector-28. So the plan has been there for many years now but in the plan of metro phase-3 construction, sectors-28, 29 are not there. Once again only God knows when metro will reach these sectors.

    Sectors-11 and 24 developed in last few years because they were not having these issues.

    Given these issues, I don't believe that plots in sector-28, 29 etc are worth that much. At best they will give returns of FD in next 4-5 years. So why bother?
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  • Originally Posted by cannondale
    "the prices wont go beyond the current levels anyway"

    I kept thinking like this for 4-5 years... and guess what happened?

    .


    Please elaborate what happened.
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  • Originally Posted by ThePunjabi
    First of all thanks for the map.

    You have talked about a few roads and of course metro.

    I am sure you are aware that work on Urban Extension Roads is almost on standstill since last many years (at least since 2003-04) and not much progress has been made on it because a lot of land on which these roads are to be built is under all kind of legal disputes. Some illlegal colonies have come up on the route of these roads because DDA didn't bother to acquire land in some sectors of Rohini phase-5 and these illegal colonies have the full support of Congress politicians (both small and big ones). They will never allow land in their illegal colonies to be acquired for useless things like roads. I guess you are already aware of what is going on in Bhagya colony in sector-40 from where 100 meter road is to pass?

    So only god knows if and when these legal disputes will be resolved, land acquired and roads built.

    Now there is a map on display at Rithala metro station (platform No.-1) since inauguration of that station in March, 2004 that is showing that the Rithala metro line will be extended in the direction of sector-28. So the plan has been there for many years now but in the plan of metro phase-3 construction, sectors-28, 29 are not there. Once again only God knows when metro will reach these sectors.

    Sectors-11 and 24 developed in last few years because they were not having these issues.

    Given these issues, I don't believe that plots in sector-28, 29 etc are worth that much. At best they will give returns of FD in next 4-5 years. So why bother?


    As far as urban extension roads are concern they are part of Masterplan 2021... so please dont hurry to say that its not here by 2011. By every chance they would be there by 2015-16.

    As far as extending metro is concern its worthless to extend metro to jungle as of now. These sectors would not see 25% habitation by 2015, so there is no need of metro to be extending in phase 3. It would surely come in phase 4.

    Also feasibility of Mono rail is done and the work for Rohini Sec 22 - Kondli line would start soon..
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  • Also feasibility of Mono rail is done and the work for Rohini Sec 22 - Kondli line would start soon..


    This is kundli or kondli ? Also pl tell more abt it.
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  • "As I said earlier present wave is cooling off now, I dont foresee next wave coming in less than 6 months so u can wait... but dont hope that rates will cool off, they wont go down more than 5% and there is 90% chances(assuming that there is no recession like situation) that it wont even cool off by that margin, because this wave was pan Delhi and not limited to these sectors... But if an expected wave come in less than 6 months the rates would be even higher...."


    I think, so far as Delhi is concerned the boom-recession cycle is over.Between 1991-2001 the population of Delhi grew by 47% but between 2001 and 2011 it grew 21% lessening 2 and 1/2 percent growth every year. Do you think this demographic trend will repair? Nay.So the boom-recession cycle in Delhi is over over property.
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  • > Please elaborate what happened

    Prices kept going up and up and up, and I kept thinking how the heck people are affording such things. The prices have never looked sustainable to me... but they keep going up anyway. I guess there is a lot of black money and property is used to stash it all away.
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  • Originally Posted by cannondale
    > Please elaborate what happened

    Prices kept going up and up and up, and I kept thinking how the heck people are affording such things. The prices have never looked sustainable to me... but they keep going up anyway. I guess there is a lot of black money and property is used to stash it all away.



    Property prices in Delhi/NCR drop by 0.6% in January 2011 - says Makaan.com Property Index

    May 18, 2011 16:21 IST

    Property prices in Delhi/NCR drop by 0.6% in January 2011 - says Makaan.com Property Index - MakaanIQ.com
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  • MakaanIQ prices will be based on documented prices. The problem is that the real price isnt disclosed / documented anywhere... and that component is going up for sure.

    Another factor is the recent hue and cry about black money being parked overseas by Baba Ramdev, Wikileaks, govt... this wouldve alerted people to pull their black money back to India and that's causing the property prices to go up. Where else to park black money in India?
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