Dear Fellow Boarders

Here are my observations and recos which I have developed over an year after seeing the turn of events in Crossing (Dump-yard) and snails pace of development in sectors 75-78. :

I wanted to buy a flat in anyone of these sectors 74-75-76-77-78. The purpose was for settling down, thus I was prepared to afford slightly higher prices and go for the better society - A society from a reputed builder, least delays, more open spaces, better flat design etc etc...

After one year of constant follow-ups, updates and dilemma, I got the answer for the society search - NONE. And NO was my decision to go ahead. I am not buying anything till flats are livable.

Real Estate in India is very corrupted and unorganized. You never know what is promised and what is delivered. Its better to wait and watch rather than trying to catch a falling knife.

Watch and learn the tactics of Builder and Brokers - 'Last few flats remaining', 'Rates will change soon', 'Get it booked, you can apply for refund later', '60% already sold (even before launch)'... All are LIES. BIG LIES.
The truth is that whenever we go to buy something, we are shown a very limited picture. We are forced to take a decision without giving it much of a thought. Whenever you go and meet them, you will hear only these things - 'sir, rates to ab thode badh gaye hain, agle week se to aur uthenge'... They just want us to buy, and buy without questioning. In reality, always expect huge delays, some extra towers, more congestion, lesser greens, cramped balconies and the list never ends.

The best option is that DON'T BUY ANYTHING NOW. If you can get, try canceling your booking and take back whatever you can. More that 2 LAKH flats are coming up in Noida in 3-4 years - 75-78, Crossing, 93-137, N Extn... What do you expect, all of these will be sold at premium? No sir - expect a maximum of 20% increase in prices - Rs.3600 PSF (inflation) and that too if things remain stable (highly unlikely). There will be a huge panic selling in 2013 when the registry becomes mandatory... that would be the time to go for the Kill...

I know I might have earned wrath of many people here, specially the ones who have already entered, but with all the due respect to them, its just a strategy that has convinced me best.
I have always been a contrarion and it has guided me the most till now. Any opposing views are more than welcome here. It would be a good experience to know and understand the other side :-)

Anyway, all the best to all...

-Buzzz
Read more
Reply
115 Replies
Sort by :Filter by :
  • This is the wisest thing. If u have the will and patience to wait, nothing like it. But just stick to the top 5 which u would know.

    Yes the risks are there but its worth taking those risks. Prices will not fly thru the roof till 2015.
    CommentQuote
  • Buzz, Understand your frustration but unfortunately there is no benefit in not buying.

    Look at sector 93, you have already built projects and people living there, what is the rate? 5500 plus for Purvanchal, 6000 plus for ATS, 4000 plus for Parsavnath...so I dont think you can buy at 3600 in a good society after 3 years.

    Noida is growing and if this things go well, people from other city would like to move to Noida and hence demand of flats wont go down...we have a population of 1.2 billion and counting....demand of houses in city will not go down in next 20 years...there might be recession, ups and down but overall rates will keep going up fast in cities which offers roads and better infrastructure.
    CommentQuote
  • Keep in mind....amongst all the projects..the project which will be best maintaoined and having best facilities in same region will be commanding best preices...Eg: as mentioned above..parasvath and ATS share same boundry....and diff in price is a lot
    CommentQuote
  • True Buzz!
    I agreed on your views.
    Around 2 months back, I have booked flat with RG Residency Sector 120. Initially, they were promising the fixed cost flat (40 lacs - 3 BHK - 1378). Now, they have increased the area to 1503 and the area increase is only in the balcony...no area change in the rooms....All well planned to cheat customer. Now, they are asking 2 lacs more...all crap...

    I'm going to cancel my booking with RG now as they are very rigid and asking for the additional increased area cost.
    CommentQuote
  • Originally Posted by bippin
    Buzz, Understand your frustration but unfortunately there is no benefit in not buying.



    Bippin,
    Totally disagree with this.
    U can get safe returns in 3 yrs thru other investments and go for the property once it is ready. All markets(stock, bullion, commodity, MF)are giving good return at 12-15% per annum.

    We have discussed on other threads many a times that difference is not more than 5-10% in the end which is worth the wait.
    CommentQuote
  • There are a lot of points in your post that i agree with. you are spot on about builder and broker tactics. but you are wrong about price prediction. all the flats that are being constructed will not become available in 3-4 years. my guess is not even 30% will become available in 3-4 year. a lots of projects will be late and some will not be completed ever. as someone else posted above you can't get a decent flat below 5000 psf in noida. so a ready to move in flat after 3 years will not be available in 3600 psf, unless Indian economy goes bust and if that is true then we won't have money to buy any kind of flat anyway.
    Originally Posted by buzzz
    Dear Fellow Boarders

    Here are my observations and recos which I have developed over an year after seeing the turn of events in Crossing (Dump-yard) and snails pace of development in sectors 75-78. :

    I wanted to buy a flat in anyone of these sectors 74-75-76-77-78. The purpose was for settling down, thus I was prepared to afford slightly higher prices and go for the better society - A society from a reputed builder, least delays, more open spaces, better flat design etc etc...

    After one year of constant follow-ups, updates and dilemma, I got the answer for the society search - NONE. And NO was my decision to go ahead. I am not buying anything till flats are livable.

    Real Estate in India is very corrupted and unorganized. You never know what is promised and what is delivered. Its better to wait and watch rather than trying to catch a falling knife.

    Watch and learn the tactics of Builder and Brokers - 'Last few flats remaining', 'Rates will change soon', 'Get it booked, you can apply for refund later', '60% already sold (even before launch)'... All are LIES. BIG LIES.
    The truth is that whenever we go to buy something, we are shown a very limited picture. We are forced to take a decision without giving it much of a thought. Whenever you go and meet them, you will hear only these things - 'sir, rates to ab thode badh gaye hain, agle week se to aur uthenge'... They just want us to buy, and buy without questioning. In reality, always expect huge delays, some extra towers, more congestion, lesser greens, cramped balconies and the list never ends.

    The best option is that DON'T BUY ANYTHING NOW. If you can get, try canceling your booking and take back whatever you can. More that 2 LAKH flats are coming up in Noida in 3-4 years - 75-78, Crossing, 93-137, N Extn... What do you expect, all of these will be sold at premium? No sir - expect a maximum of 20% increase in prices - Rs.3600 PSF (inflation) and that too if things remain stable (highly unlikely). There will be a huge panic selling in 2013 when the registry becomes mandatory... that would be the time to go for the Kill...

    I know I might have earned wrath of many people here, specially the ones who have already entered, but with all the due respect to them, its just a strategy that has convinced me best.
    I have always been a contrarion and it has guided me the most till now. Any opposing views are more than welcome here. It would be a good experience to know and understand the other side :-)

    Anyway, all the best to all...

    -Buzzz
    CommentQuote
  • RE prices no one can Predict...One can only take a chance...maybe prices afetr 2 years will be 3000 psf...maybe 5000 psf...maybe 6000 psf..no one can guess...people who have bought will say...its going to be 4000 psf....people who have not will say...3000 psf....real picture after 3 years.....

    If one doesnt want to take risks with builder...best is to wait...prepare urself for premium

    If lucky...u may never have to pay...
    CommentQuote
  • Buzz : It need guts to take a wise decision and I feel like MM that its the wisest decision not to buy.
    People who quote old previous examples have no future instincts. Look at the signals now....
    No oversupply in Noida in 2002-2008. Now there is no end to launches.
    RBI tightening home loan policies..Not more than 80% loan, increasing home loan rates.
    Salary growths are too limited...No 50%-100% jump in salaries..Earlier every IT guy use to boost of 4 job offers in hand at any point of time.
    Mayawati-Builder nexus..Can change layout plan any day...Can delay possession without paying delay charges....
    U will find a regulator in place in next 1-2 years time who would dampen the spirit of REAL ESTATE as an investment option.

    Only two type of buyers are existing now :
    1st: Investers: They have lot of money and they dont know what to do with that money. They dont have skills and knowhow to grow their money by other avenues. e.g. They cant be entrepreneurs, they dont know Future and Options and financial markets, nor they can keep their money in FD. The only option left for them is real estate. ....

    2nd: Feared buyer: This guy dont want to miss the bus like he missed in 2002-2006. Poor guy has just boarded the bus, and he dont even now when he would reach his destination, and in what condition. He is in total control of the driver.
    CommentQuote
  • Originally Posted by buzzz
    No sir - expect a maximum of 20% increase in prices - Rs.3600 PSF (inflation) and that too if things remain stable (highly unlikely).

    -Buzzz


    Oops i just realised that i missed this sentence.
    See if u calculate 3 yrs inflation along with basic appreciation u are talking of a an increase of 60-75% in prices from today, which is about 15-18% CI.
    hence i mentioned a difference of 5-10% provided your money in hand is well invested.
    CommentQuote
  • All
    Thank you for the comments. Its nice to hear the contradicting side as well.

    It appears as of now that the only negative in waiting is the price escalation by 2014-2015. If it remains within Rs.4000 PSF, its worth the wait. Anything beyond it would call to move to Noida Extension.

    Indirapuram for example is a place to look at. The flats were intially sold for 3000 PSF, even today you can get houses there 3600-3800... City is crap, lots of power cuts, congested societies, flats with dead balconies, etc etc etc

    But there are great advantages of waiting -
    you can get the ready to move in society,
    you will not have to pay a huge sum monthly - Rs.25000 for EMI and Rs.15000 for rent...
    you will be able to choose which society you want to move into (as rates would be identical)
    the flat can be seen for location, view etc
    the actual green area, open area can be seen, congestion can be gauged
    Metro truth will be uncovered by then
    the electricity and water conditions can be actually checked
    etc etc etc....

    So finally it all comes down to whether you want to pay a bit higher later for your peace of mind and best flat/society OR do you want to take the risk...

    So what say guys, worth the wait?

    -Buzzz
    CommentQuote
  • I think your have answered your question. even in crap place like indirapuram rate is 3600-3800 right now for a ready to move in flat. new society only if they come up like IP will have rate around 4000 after 4 years. good societies at decent location will not have price less then 5000 psf.

    so yes after 4 years you will know which societies are good. but believe me good society will not be available less then 4000 after 4 years as crap societies are 3700 right now in indirapuram. may be crap will be available for 4000 after 4 years.
    Originally Posted by buzzz
    All
    Thank you for the comments. Its nice to hear the contradicting side as well.

    It appears as of now that the only negative in waiting is the price escalation by 2014-2015. If it remains within Rs.4000 PSF, its worth the wait. Anything beyond it would call to move to Noida Extension.

    Indirapuram for example is a place to look at. The flats were intially sold for 3000 PSF, even today you can get houses there 3600-3800... City is crap, lots of power cuts, congested societies, flats with dead balconies, etc etc etc

    But there are great advantages of waiting -
    you can get the ready to move in society,
    you will not have to pay a huge sum monthly - Rs.25000 for EMI and Rs.15000 for rent...
    you will be able to choose which society you want to move into (as rates would be identical)
    the flat can be seen for location, view etc
    the actual green area, open area can be seen, congestion can be gauged
    Metro truth will be uncovered by then
    the electricity and water conditions can be actually checked
    etc etc etc....

    So finally it all comes down to whether you want to pay a bit higher later for your peace of mind and best flat/society OR do you want to take the risk...

    So what say guys, worth the wait?

    -Buzzz
    CommentQuote
  • Guess its person to person... I am actually considering the 2 lakh+ flats making over supply
    CommentQuote
  • Why do we think that 100 flats/acres projects with 24 floors and 5000 familiies in 50 acres etc will be any better than IP???? Its heading the same way- downhill !!:bab (45):



    Originally Posted by alokgarg
    I think your have answered your question. even in crap place like indirapuram rate is 3600-3800 right now for a ready to move in flat. new society only if they come up like IP will have rate around 4000 after 4 years. good societies at decent location will not have price less then 5000 psf.

    so yes after 4 years you will know which societies are good. but believe me good society will not be available less then 4000 after 4 years as crap societies are 3700 right now in indirapuram. may be crap will be available for 4000 after 4 years.
    CommentQuote
  • problem in IP is becuase of bad roads and connectivity and no planning by local authorities. I don't think any of the upcoming sectors are being developed like that. there are wide roads being developed to reach everywhere and even metro is in advanced stage of planning. i have visited expressway projects and i don't think any of these areas will suffer the fate of IP. I don't have any info about sector 7x and noida extension, so can't tell you about that. but from information available here, looks like noida extension will be future IP.
    Originally Posted by vikky55
    Why do we think that 100 flats/acres projects with 24 floors and 5000 familiies in 50 acres etc will be any better than IP???? Its heading the same way- downhill !!:bab (45):
    CommentQuote
  • Originally Posted by buzzz
    Dear Fellow Boarders

    Here are my observations and recos which I have developed over an year after seeing the turn of events in Crossing (Dump-yard) and snails pace of development in sectors 75-78. :

    I wanted to buy a flat in anyone of these sectors 74-75-76-77-78. The purpose was for settling down, thus I was prepared to afford slightly higher prices and go for the better society - A society from a reputed builder, least delays, more open spaces, better flat design etc etc...

    After one year of constant follow-ups, updates and dilemma, I got the answer for the society search - NONE. And NO was my decision to go ahead. I am not buying anything till flats are livable.

    Real Estate in India is very corrupted and unorganized. You never know what is promised and what is delivered. Its better to wait and watch rather than trying to catch a falling knife.

    Watch and learn the tactics of Builder and Brokers - 'Last few flats remaining', 'Rates will change soon', 'Get it booked, you can apply for refund later', '60% already sold (even before launch)'... All are LIES. BIG LIES.
    The truth is that whenever we go to buy something, we are shown a very limited picture. We are forced to take a decision without giving it much of a thought. Whenever you go and meet them, you will hear only these things - 'sir, rates to ab thode badh gaye hain, agle week se to aur uthenge'... They just want us to buy, and buy without questioning. In reality, always expect huge delays, some extra towers, more congestion, lesser greens, cramped balconies and the list never ends.

    The best option is that DON'T BUY ANYTHING NOW. If you can get, try canceling your booking and take back whatever you can. More that 2 LAKH flats are coming up in Noida in 3-4 years - 75-78, Crossing, 93-137, N Extn... What do you expect, all of these will be sold at premium? No sir - expect a maximum of 20% increase in prices - Rs.3600 PSF (inflation) and that too if things remain stable (highly unlikely). There will be a huge panic selling in 2013 when the registry becomes mandatory... that would be the time to go for the Kill...

    I know I might have earned wrath of many people here, specially the ones who have already entered, but with all the due respect to them, its just a strategy that has convinced me best.
    I have always been a contrarion and it has guided me the most till now. Any opposing views are more than welcome here. It would be a good experience to know and understand the other side :-)

    Anyway, all the best to all...

    -Buzzz




    BUZZZ - Long story short - You are one of the wisest bloke on IREF.

    Can't agree more n fantabulous decision.

    Regards
    Sbajaj
    CommentQuote