Hello Members,

I wanted to start this thread to know the views of the investors,and senior members.I am not really able to endure the high property prices in gurgaon.
Short story.. last year I geared up to buy a flat in ggn and started to look at Emmar mgf emerald hills,Untech,Nirvana.etc.These project were available for 3300/Sft range.Since I couldnt get original booking and started to look elsewhere.IREOgrand arch came in between, was expensive at 5000/sft.
After taking a break of nearly 8 months when I am back in market, I am really surprised.
The prices have gone skyhigh,properties have been appreciated by more than 100% even before construction is started.Emmar emerald hills is available on minimum 25-30L premium.
I mean nothing big has changed in the areas apart from announcements of many new projects.Are these prices really justified ??
Infrastructure in gurgaon is still the same,and even getting worse day by day.Sector 77 onwards sectore will not e livable for another 5 years, and then also they will be far apart, but prices are skyhigh there.You dont get anything good below 80-85L.
I am not ale to digest all this, is it really justified growh ? will there be any appreciaton or its just a bubble that will have correction in near future?
It seems agents have taken over in gurgaon...and influenced builders.I am not sure if it is right time to invest now? I feel pain when I look back at emmar emerald :-(
What are the areas where appreciation will happen and will be justified?
Thanks for reading this memers, any views??
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  • yours is a million dollar question!!!!!!!!!!!!!
    In a nut shell my response would be
    are the prices justified-- probably not, but unfortunately they are here to stay. the rate of increase may slow down but they will move northwards for a long time.
    no i dont see a bubble forming. the supply/demand gap is still there along with the fact the the average investor is not highly leveraged.
    just a trivia.... in last 7 years on golf course/gf extn roads i have seen the prices go up from 6000-9000/sq yard to now 6000-9000/sq feet.
    thats a :bab (45):
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  • Prices of most areas r here to stay , whether we like it or not. There could be price corrections in certain areas ( Sector 81 plus & Dwarka e way ) & time based corrections in some other areas.
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  • Originally Posted by MANOJa
    Prices of most areas r here to stay , whether we like it or not. There could be price corrections in certain areas ( Sector 81 plus & Dwarka e way ) & time based corrections in some other areas.


    Price correction inevitable but not on new Sec81-95 and D eway, rather on sohna road and GC road. New sectors would still be an opportunity this year rather than sometimes in future. Any new news on that part of gurgaon would further fuel up prices. However, its disheartening to see any real on ground developments.
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  • Price correction on Sohna rd. could be on project to project basis. Certain recently launched & over hyped projects, may be a part of this price correction . I do not expect an overall price correction , all across Sohna rd. GC rd. may see some time based correction ( stagnation of prices , for a certain period of time ).
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  • Jiten

    The worst recession in the last 50 + came and went...it was only last year. And yet not much correction. Today the prices are higher than ever before.

    So the only way to get new launches at reduced prices would be to start a world war :bab (45): or bring another recession :bab (45): or probably a global epidemic:bab (45):.

    Since none of us want anything like that to happen ever:D, there is no way property prices will go down- neither in old Ggn nor new.

    Those who can't afford gurgaon will go to buy in manesar/ greater noida etc. The rate of increase in prices might probably get slowed.
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  • My feeling is also quite the same as many above . The prices of areas lik mg road , golf course road , golf course extension road in terms of appartments are here to stay and will even increase on a slow basis .I dont forsee any significant growth in 80+ sectors or dwarka e way . However most optmistic about projects on the golf course extension road which are expected to give maximum returns.

    the plots will see a correction from anywhere between 10-20 % or may be even more in the coming 3-6 months due to doubling of circle rate and there is another doubling of circle rates expected in april ( that means the circle rate of dlf -1 would touch 1 lac per sq yd .) the plot market is expected to be slow.

    However commercial projects may gain momentum in the coming 1-2.5 yrs . And may even peak as the values of commercial projects right now is highly undervalued. Else how would you explain the prices of premium commercial projects on golf course road for example is Rs.12000 per sq ft.(emaar palm springs plaza ) and the residential project the verandas Rs.11,500 per sq ft. All this i am talking in terms of resale .
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  • Prices of GC ext. rd. are at present quite steep & when & if recession comes , u could see a time based correction here. The worrying issue is , as rates of most of the properties on GC ext. rd. r quite high , as compared to many adjacent projects on Sohna rd. & properties on NH8 , it could lead to extended time based corrections for GC ext. rd. , resulting in some negative growth.

    I could be totally wrong on the above & my fears could be totally unfounded.
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  • I agree with you Manoj, however I feel that the correction will be all over.Properties in main guegaon will see a correction but sustain since they have infrastructure and investors could benift by other means like renting and can wait.But in places like new ggn and manesar I am sure it will crash.This could just be a fear but to me it seems we are talking on a very weak base.All we have a master plan which is selling, metro connectivity etc etc...
    There are very few real buyers in ggn...it is mostly investors money.I had example of bangalore property market which crashed even without recession and the downfall was almost 30-40%.it has still not recoverd completely but prices have een corrected and affordable...god knows what will happen in ggn.Only thing I can see is steep increase in 9 months...prices have gone multifold...even without a single brick was put in construction..
    I hope it increases...and I hope infrastructure developes....
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  • Originally Posted by MANOJa
    Prices of GC ext. rd. are at present quite steep & when & if recession comes , u could see a time based correction here. The worrying issue is , as rates of most of the properties on GC ext. rd. r quite high , as compared to many adjacent projects on Sohna rd. & properties on NH8 , it could lead to extended time based corrections for GC ext. rd. , resulting in some negative growth.

    I could be totally wrong on the above & my fears could be totally unfounded.


    i totally agree with u that time based correction can occur on GC ext. road but that can be sometimes good for the property scenario as well . And the reason you cannot compare Sohna road or properties on nh8 with GC ext. is because it is a single running road which is not going to have interference of any kind of villages on either of its sides which is the biggest problem even on golf course road and even MG road . And the kind of projects coming on this road are top of the line luxury projects with great new and innovative concepts and not just any run off the mill projects. The sizes of these projects is also humongous . you dont have projects even remotely close to the concepts and sizes that are coming up in GC ext. anywhere in gurgaon , not even in GC road or MG road .And the biggest plus is NO INVOLVEMENT OF ANY VILLAGES WHATSOEVER!!!!!!!

    And of course there is this problem that all the sites are just under construction and whenever a down trend starts the projects under construction take the maximum beating . But if you have the capacity to hold the units on GC ext. road i believe it is going to give the best returns for your money . And if i may be bold enough to say that the prices of the residential apartments on GC ext. road may even surpass the prices of apartments on the GC road in the coming time , that is when the GC ext road is fully developed.

    Would appreciate some comments on this
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  • U could be right , but i am not trying to compare properties on GC ext. rd. with properties on Sohna rd. & NH8 properties. The point of bringing these areas in the specific order & in one loop was that these three areas of GGN are all set for the next boom , with GC ext. rd. leading the way , followed by geographically adjacent Sohna rd. & then , closeby NH8 projects. In case of recession, my fear is that GC ext. rd. may get most severely hit than the rest two , because of real steep rates prevalent on that road ( real high rates could lead to extended time based correction , resulting in some negative growth ).

    As i said earlier , i could be totally wrong on this & my fears could be totally unfounded.

    Would love to hear comments of other members on this .



    Originally Posted by ISHANb
    i totally agree with u that time based correction can occur on GC ext. road but that can be sometimes good for the property scenario as well . And the reason you cannot compare Sohna road or properties on nh8 with GC ext. is because it is a single running road which is not going to have interference of any kind of villages on either of its sides which is the biggest problem even on golf course road and even MG road . And the kind of projects coming on this road are top of the line luxury projects with great new and innovative concepts and not just any run off the mill projects. The sizes of these projects is also humongous . you dont have projects even remotely close to the concepts and sizes that are coming up in GC ext. anywhere in gurgaon , not even in GC road or MG road .And the biggest plus is NO INVOLVEMENT OF ANY VILLAGES WHATSOEVER!!!!!!!

    And of course there is this problem that all the sites are just under construction and whenever a down trend starts the projects under construction take the maximum beating . But if you have the capacity to hold the units on GC ext. road i believe it is going to give the best returns for your money . And if i may be bold enough to say that the prices of the residential apartments on GC ext. road may even surpass the prices of apartments on the GC road in the coming time , that is when the GC ext road is fully developed.

    Would appreciate some comments on this
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  • Originally Posted by MANOJa
    U could be right , but i am not trying to compare properties on GC ext. rd. with properties on Sohna rd. & NH8 properties. The point of bringing these areas in the specific order & in one loop was that these three areas of GGN are all set for the next boom , with GC ext. rd. leading the way , followed by geographically adjacent Sohna rd. & then , closeby NH8 projects. In case of recession, my fear is that GC ext. rd. may get most severely hit than the rest two , because of real steep rates prevalent on that road ( real high rates could lead to extended time based correction , resulting in some negative growth ).

    As i said earlier , i could be totally wrong on this & my fears could be totally unfounded.

    Would love to hear comments of other members on this .



    Well yes thats true in times of recession even a magnolias was selling for 7000 per sq ft . But yaa for the success of all these projects the main thing is these projects be delivered on time .. Only successful and timely project deliveries are the key . And somehow with no offence to anyone i feel for the nh-8 sectors projects there is still a long way to go (5-10yrs) for the market there to get hot .
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  • Projects which r inside to NH8 ( Sector 81 plus ) would certainly take 4 to 5 years to be inhabitable & hot , but same cannot be said for Projects which r right on the NH8 ( Palm Hills , Godrej etc. ) These could exceed Sohna rd. in stature , much earlier/faster. Golf course ext. rd. has certain exclusivity to it & it would be a long way , for any other area to reach that exclusivity , but as i said earlier this exclusivity has strings attached to it.
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  • I agree with you manoj...NH8 has good potential and will develop fast.I just a saw a news in TOI yesterday that some 1500 Acres will be allocated to new companies which are coming to ggn now...if it is close to new sectors...then prices will touch the sky..more than GCE.
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  • in my opinion the choices and investor mindset is very simple....

    any body who has the 1-1,5 cr to invest is not looking beyond GCEx irrespective of relative potential of nh8.( this based on the investor profile which i know)
    all others are looking at nh8 depending on their budget.
    people simply buy the most premium project they can afford.
    the compromise is purely because of budget/availability constraints and once the investment is made the reasons are out to justify that purchase.
    the debate comesup only when you are comparing projects with similar specs.

    Originally Posted by Jiten1
    I agree with you manoj...NH8 has good potential and will develop fast.I just a saw a news in TOI yesterday that some 1500 Acres will be allocated to new companies which are coming to ggn now...if it is close to new sectors...then prices will touch the sky..more than GCE.
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  • :-) psychology of human mind ....
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