Heard from lot of sources that the Bestech Ananda has flopped. Lot of Inventory is left including lower floor 2 BHK. People are ready to sell at the 'Buy' rate. Panic selling has not started yet but Bestech is having sleepless nights because of the High Un-Sold inventory.

Bestech had received so many advance cheques that they thought they were Oberoi Reality and were launching the project in Manhattan. Priced it really high and it backfired.

Have we officially entered into a Bear Phase ?
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  • Originally Posted by spacegem
    Heard from lot of sources that the Bestech Ananda has flopped. Lot of Inventory is left including lower floor 2 BHK. People are ready to sell at the 'Buy' rate. Panic selling has not started yet but Bestech is having sleepless nights because of the High Un-Sold inventory.

    Bestech had received so many advance cheques that they thought they were Oberoi Reality and were launching the project in Manhattan. Priced it really high and it backfired.

    Have we officially entered into a Bear Phase ?


    its just the senseless pricing on nh-8 nowadays and senseless buying from investors ...... if its along term investor , he sould be ok , but now short term investors are ready to exit at buy rate , they shold have known better that what is the upside from these prices that one is investing in it for short term ....same goes for emaar palm garden !!!1
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  • this launch was a classic case of a builder loosing sight of ground reality and beliving the hype as reality...and hashing a good project which had all the potential of being a hit...
    they forgot that the intrinsic value was 2600-3000 band( thats what was the initial price expecation) and went for kill at 4000.
    vipul launch near by at 2700 furthervtook the wind away( its 1/2 phase was a success) and bestech still has not found a way to justify its price tag...

    and now it has become a vicious cycle new investor wont buy... exixting can exit... brokers not interested... no rec. to client... price pressure...



    Originally Posted by spacegem
    Heard from lot of sources that the Bestech Ananda has flopped. Lot of Inventory is left including lower floor 2 BHK. People are ready to sell at the 'Buy' rate. Panic selling has not started yet but Bestech is having sleepless nights because of the High Un-Sold inventory.

    Bestech had received so many advance cheques that they thought they were Oberoi Reality and were launching the project in Manhattan. Priced it really high and it backfired.

    Have we officially entered into a Bear Phase ?
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  • Quite agree . The project is not exactly on the NH & could have done well at a price range of 3000-3200, but as AmitMM said, it "was a classic case of a builder loosing sight of ground reality and beliving the hype as reality...and hashing a good project which had all the potential of being a hit..."

    ...& IshanB, PG has faired much better than the Bestech project ( that is what i have heard, i am not following PG ).


    Originally Posted by AmitMM
    this launch was a classic case of a builder loosing sight of ground reality and beliving the hype as reality...and hashing a good project which had all the potential of being a hit...
    they forgot that the intrinsic value was 2600-3000 band( thats what was the initial price expecation) and went for kill at 4000.
    vipul launch near by at 2700 furthervtook the wind away( its 1/2 phase was a success) and bestech still has not found a way to justify its price tag...

    and now it has become a vicious cycle new investor wont buy... exixting can exit... brokers not interested... no rec. to client... price pressure...
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  • my view is slightly different on PG....
    one it has sold well though slowly but steadly
    second unlike bestech which was completely investor( and mostly short term) dominated PG has a fairly large no of potential end users/long term view investors... and few would disgree so far it has the best proposed layout( besides alpha)

    on a sidenote-- emaar has never been on radar of typical ggn broker/investor nexus as it has never offered quick return/exit options:)


    Originally Posted by ISHANb
    its just the senseless pricing on nh-8 nowadays and senseless buying from investors ...... if its along term investor , he sould be ok , but now short term investors are ready to exit at buy rate , they shold have known better that what is the upside from these prices that one is investing in it for short term ....same goes for emaar palm garden !!!1
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  • I am not following PG either but in generic terms , co. might/might not have sold its inventory , but the question is does one see any short term upside in these projects(considering short term investors also do enter such priced projects ) , i dont , in long term - may be .... so i guess heres a lesson to be learnt here by short term investors , dont enter at exorbitant prices and expect great returns in short term .... it ll only lead to panicing and distress selling !!!

    Originally Posted by MANOJa
    Quite agree . The project is not exactly on the NH & could have done well at a price range of 3000-3200, but as AmitMM said, it "was a classic case of a builder loosing sight of ground reality and beliving the hype as reality...and hashing a good project which had all the potential of being a hit..."

    ...& IshanB, PG has faired much better than the Bestech project ( that is what i have heard, i am not following PG ).
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  • Originally Posted by AmitMM
    my view is slightly different on PG....
    one it has sold well though slowly but steadly
    second unlike bestech which was completely investor( and mostly short term) dominated PG has a fairly large no of potential end users/long term view investors... and few would disgree so far it has the best proposed layout( besides alpha)

    on a sidenote-- emaar has never been on radar of typical ggn broker/investor nexus as it has never offered quick return/exit options:)


    kehene waali baat hai amit bhai , time time ki baat hai , when emaar launched palm spring plaza (commercial on GC road), there was a premium of a 1000 per sq ft withina week .....and shot upto 3-3.5k premium within 4-5 months
    time time ki baat hai ... :D
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  • Yes, totally agree to the highlighted parts . Just look at the threads of Bestech & PG, i have been saying this all along .

    Originally Posted by ISHANb
    I am not following PG either but in generic terms , co. might/might not have sold its inventory , but the question is does one see any short term upside in these projects(considering short term investors also do enter such priced projects ) , i dont , in long term - may be .... so i guess heres a lesson to be learnt here by short term investors , dont enter at exorbitant prices and expect great returns in short term .... it ll only lead to panicing and distress selling !!!
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  • ishan bahi us samay commercial ka jalwa tha... mitti bhi sona ban gayi thi.... lekin us samay khali kuch ko hi malai mili... baaki sab samjhe ki jhaag aur uthe ga lekin aag bujh gayi....:bab (35):


    Originally Posted by ISHANb
    kehene waali baat hai amit bhai , time time ki baat hai , when emaar launched palm spring plaza (commercial on GC road), there was a premium of a 1000 per sq ft withina week .....and shot upto 3-3.5k premium within 4-5 months
    time time ki baat hai ... :D
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  • ishan on the short term investment point very rightly said!!!!
    i will go a step further and say that the current mrket is not right for short term inv. what ever the location may be( esp. under const prop)

    Originally Posted by ISHANb
    I am not following PG either but in generic terms , co. might/might not have sold its inventory , but the question is does one see any short term upside in these projects(considering short term investors also do enter such priced projects ) , i dont , in long term - may be .... so i guess heres a lesson to be learnt here by short term investors , dont enter at exorbitant prices and expect great returns in short term .... it ll only lead to panicing and distress selling !!!
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  • Originally Posted by AmitMM
    ishan on the short term investment point very rightly said!!!!
    i will go a step further and say that the current mrket is not right for short term inv. what ever the location may be( esp. under const prop)


    yes may be not right for short term investors , but on the other hand i feel it is an IDEAL time to enter for long term investors especially in under construction projects (obviously depending on project to project basis) ......
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  • yes with you on this one... long term investor can take a plunge...select location/builder well


    Originally Posted by ISHANb
    yes may be not right for short term investors , but on the other hand i feel it is an IDEAL time to enter for long term investors especially in under construction projects (obviously depending on project to project basis) ......
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  • Originally Posted by AmitMM
    my view is slightly different on PG....
    one it has sold well though slowly but steadly
    second unlike bestech which was completely investor( and mostly short term) dominated PG has a fairly large no of potential end users/long term view investors... and few would disgree so far it has the best proposed layout( besides alpha)

    on a sidenote-- emaar has never been on radar of typical ggn broker/investor nexus as it has never offered quick return/exit options:)


    PG has sold quite ok. Emaar has lot of NRI interest. Completely agree on the layout part. It is excellent.

    Bestech I know has been completely rejected by investors & so project failed to take off. There was talk off pricing it at 3400. At that level too a good level of interest was being shown. Before launch I visited their office. Bestech guy seemed to be very high headed. He was talking of himself having 80 cheques with him. But their crazy pricing seems to have killed it. In desperation this Bestech official infact called me asking me to book a unit. That to me told the story.
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  • NH8 projetcs

    Be carefull while investing on NH8 projects. We should call these manesar projects.

    This will be the fate of all the upcoming projects on NH8. Those who say NH8 projects are in gurgaon are fooling others and themself only to justify their investments.

    These projects are far far away form delhi to justify such a high premium.

    Fate of these projects is uncertain. Vatika G21 , Antriksh heights are selling for 2800-2900 in resale. Ananda has flopped. godrej is struggling to sell phase -3 and PG only four towers are sold tilll date. Raheja is afraid to launch 78 project. GPL is selling at 2800.
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  • To justify my investment in Ananda, may I say:
    - Travel time from DLF Cyber city to Sohna rd and to these NH8 projects should be the same
    - Sohna rd is at 6k+
    - Once these projects come to a stage where Sohna rd is today in 4 years time, the prices at Sohna rd and these projects should converge
    - Had heard that the Manesar toll will be shifted a km further
    - Once Sohna rd + Golf course extn become unaffordable, it is only logical that the end-user will look at these projects.

    All being the same, I agree that in Ananda, there is no exit at the moment as the project was priced at least 500+ than what it deserved given the prices and sentiment prevailing at that time (6 months back).

    However, am hopeful that prices will move up once the sector roads are built and after the developers start construction.
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  • Vaibhav - Dont really agree with your first two points.

    The travel time to Sohna road and to these sectors cannot be same at any given point in the day :)

    Projects on Sohna road which command a price of 6k+ are the one which are ready to move in and not the fresh launches.
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