Announcement

Collapse
No announcement yet.

Are Real Estate Prices in Delhi Likely to Fall?

Collapse
X
Collapse

Are Real Estate Prices in Delhi Likely to Fall?

Last updated: April 29 2012
42 | Posts
  • Time
  • Show
Clear All
new posts
  • #31

    #31

    Re : Are Real Estate Prices in Delhi Likely to Fall?

    Originally posted by djvjain View Post
    Thats a good option, but just check on all the legalities before going forward. Do you think the property you are buying ever had registry done? If yes, then was it for 200sq.yds or for 45 sq.yds?
    Yesterday we had the meeting with the owners with all the papers, and, we cancelled the deal. Primary reason being that GPA registration is on-hold in the area (khasra 63/10, Block-A3, Hastal Road), that too since 2007. Even the lastest papers are from Notary and not registered (when property was bought in 2007). However, all papers before that are registered.

    Dealer tried to convince us a lot (or deceive us) that we should get an Idemnity Bond from the current owner, and get an external GPA (from Notary worth Rs. 400). And when the registries would open we can call the owner and get it registered.

    However, noone was sure when they'll open, after 6 months or 6 years. Due to lack of clarity, we cancelled the deal.
    The knowledge of what to do in a Recession or Boom is more important than predicting a Recession or Boom.

    Comment

    • #32

      #32

      Re : Are Real Estate Prices in Delhi Likely to Fall?

      Originally posted by premierknot
      prices in delhi will continue to rise as the construction is not permissible in most of the delhi..

      what ever construction is done comes up with huge hidden costs and therefor the price gets passed on..

      in case of lands and farmhouses, most of the people are aware that master plan 2021 has residential usage on them, so the prices have shot up nearly 10 times in the last decade..

      If there is anything we can assist you with feel free to contact us.
      We specialize in farmhouses and agricultural land deals.
      we are based in vasant kunj, New delhi.

      Search Properties in India | Real Estate Property India | Best Real Estate Property Dealers & Builder Search | PremierKnot
      1.It depends upon locality.
      2.Past appreciation is no guarantee for future.
      3.By 10 years depreciation in Delhi will be a must.

      Comment

      • #33

        #33

        Re : Are Real Estate Prices in Delhi Likely to Fall?

        Originally posted by Jogeshwar View Post
        1.It depends upon locality.
        2.Past appreciation is no guarantee for future.
        3.By 10 years depreciation in Delhi will be a must.
        Price fall in Delhi is a myth - atleast for next 20 odd years - here is what happens - since land is in limited supply (the authorised colony land) the old houses are getting rebuilt - what stood there two years ago as a single story house now is a 4 floors which has 6 to 8 flats so without increasing the actual land area the usebility has been increased 6 to 8 times

        this means 6 to 8 more families are residing there - now there is a big craze in living in delhi - so whatever was the price of land became the price of floor than price of flat - so actually there is a increase of 6 to 8 times

        now this is going to happen all over delhi

        and after 4th floor there are chances that govt will allow extra floors - i am getting tel tale signs of that

        rohit

        Comment

        • #34

          #34

          Re : Are Real Estate Prices in Delhi Likely to Fall?

          Originally posted by rohit_warren View Post
          Price fall in Delhi is a myth - atleast for next 20 odd years - here is what happens - since land is in limited supply (the authorised colony land) the old houses are getting rebuilt - what stood there two years ago as a single story house now is a 4 floors which has 6 to 8 flats so without increasing the actual land area the usebility has been increased 6 to 8 times

          this means 6 to 8 more families are residing there - now there is a big craze in living in delhi - so whatever was the price of land became the price of floor than price of flat - so actually there is a increase of 6 to 8 times

          now this is going to happen all over delhi

          and after 4th floor there are chances that govt will allow extra floors - i am getting tel tale signs of that

          rohit
          Is it not individual perception? (Makaandotcom) is publising its analysis intermittently.Please check up.

          Comment

          • #35

            #35

            Re : Are Real Estate Prices in Delhi Likely to Fall?

            Originally posted by Venkytalks View Post
            Delhi price never falls.

            Ek bar kisi ne flat ka keemat 2 carod bol diya, to sara mohalla vaise hi flat ke liye 2 karod se kam ek paisa bhi nahi lega.

            Chahe flat 10 saal naa bik paye
            Every single and double story house in delhi is being demolished to make 4-5 stories, and there is lot of fresh construction going on at several parts of delhi especially dwarka , kirti nagar and many other places. This has resulted in further deterioration in living conditions. I doubt if people will buy this oversupply even at delhi at such artificially high prices.

            In delhi also you can see that 30% houses in dwarka are unoccupied and the sellers are not able to sell at their asking price

            Comment

            • #36

              #36

              Re : Are Real Estate Prices in Delhi Likely to Fall?

              Originally posted by McLordGanj View Post
              Every single and double story house in delhi is being demolished to make 4-5 stories, and there is lot of fresh construction going on at several parts of delhi especially dwarka , kirti nagar and many other places. This has resulted in further deterioration in living conditions. I doubt if people will buy this oversupply even at delhi at such artificially high prices.

              In delhi also you can see that 30% houses in dwarka are unoccupied and the sellers are not able to sell at their asking price
              True.At least for last 10 years I am seeing my 2 colleagues who are unable to sell their properties though they want to buy better ones by selling these existing ones.

              Comment

              • #37

                #37

                Re : Are Real Estate Prices in Delhi Likely to Fall?

                Houses getting re-built depends on the location. Good and legal localities are seeing it a lot. But noone buys with a top price in illegal colonies as all 2, 4 or whatever floors it has are illegal. People do have big craze of living in Delhi but only at location that is desirable by everyone and mostly legal colonies. Illegal colonies are mostly for investors(to rent it out) or someone who has been living in the area for a while and they rarely for new end-users.

                Jogeshwar bhai,

                Where are the properties that belong to your colleagues? Hard to believe that someone can't offload a property in Delhi for 10 years.

                Comment

                • #38

                  #38

                  Re : Are Real Estate Prices in Delhi Likely to Fall?

                  Originally posted by djvjain View Post
                  Houses getting re-built depends on the location. Good and legal localities are seeing it a lot. But noone buys with a top price in illegal colonies as all 2, 4 or whatever floors it has are illegal. People do have big craze of living in Delhi but only at location that is desirable by everyone and mostly legal colonies. Illegal colonies are mostly for investors(to rent it out) or someone who has been living in the area for a while and they rarely for new end-users.

                  Jogeshwar bhai,

                  Where are the properties that belong to your colleagues? Hard to believe that someone can't offload a property in Delhi for 10 years.
                  At Rohin, sector 1,Avantika.I think these are lease hold and not freehold.

                  Comment

                  • #39

                    #39

                    Re : Are Real Estate Prices in Delhi Likely to Fall?

                    Tell them to reduce the rates as equivalent to prevailing market rate.

                    BTW I guess after selling their property they are going to miss their property by saying
                    Last edited April 20 2015, 05:12 PM. Reason: hindi
                    __________________________________________________ __________
                    It is better to be blind than to see things from only one point of view

                    Comment

                    • #40

                      #40

                      Re : Are Real Estate Prices in Delhi Likely to Fall?

                      Tell them to reduce the rates as equivalent to prevailing market rate.

                      BTW I guess after selling their property they are going to miss their property by saying :



                      LOL.They are property giants.I seek their advice in this matter but the viceverasa can not happen.LOL
                      Last edited April 20 2015, 05:12 PM. Reason: hindi

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X