Bestech Park view spa next 3 months ago 4300 now 4550-4600

IREO Uptowm 4500-4600 6 months ago now 4900-5000

Escape 5500 6 month ago now 5700

Vipul 2900 6 months ago now 3000

Palm Gardens (was looking expensive still it is)..... still people buying

Even in the worst to worst under construction projects fall is 50-100 , even not even that, mostly flat?

Any thought??
Read more
Reply
26 Replies
Sort by :Filter by :
  • Originally Posted by djvjain
    If there will be any correction, then it would be just price stagnation which is like correction with inflation so high. This would happen with high-end luxury projects. Affordable RE segment is going to be fine and you can see it appreciating at a decent pace of 10-15% if construction is going fine. There is so much demand of affordable segment that I don't see it coming down.


    on the contrary , i feel the rising interest rates would hit the affordable segment the highest ! The high end luxury segment is doing great and would continue to do so as construction progresses !!!
    CommentQuote
  • What correction??

    Let me share my perspective......

    I have been hearing this "correction" word for Gurgaon RE for the last 6-7 years. I wanted to buy a plot in Palam Vihar at the rate of 5000/sq yard in Dec 2004. Took too long to decide and then before I realize the rates were 12000 in May 2005. Everyone told me there is going to be a "Correction" soon and I should wait. However the rates kept rising. Rest is history....today the prices are around 70-80000. There indeed was a brief reduction in prices in 2008 when prices came down to 30000 from 35000 in 2007 peak. I dont think thats called correction.

    Here is a macro economic concept to consider....if it applies at all.....

    both Real Estate and Stock Markets discount and price in the most probable future scenario. Stock markets goes up when common people dont realize whats ahead and everyone keeps thinking why stocks are up. Same applies on the downside as well, at least for stocks markets. Markets goes down with no apparent visible reason, again the markets discount whats the most probable future events. When future events unfold then everyone just try to catch-up with reality.

    If you apply the same to Real Estates in Gurgaon.....I think below is the macro scenario ( again its my perspective, I could be wrong and you are entitled for your opinions )

    1- A small city that has been transforming into a mega Metro-sub-urban city. Look at the population growth for the last 7 years and projections for next 10-15 years in GGN-MANESAR master plan.

    2- Poor Infrastructure is being (painfully slowly) replaced with new and modern infrastructure. Delhi Metro, Expressway, Rapid Metro, Master Sewerage, MCG formation etc.

    3- Jobs, Jobs and Jobs....its been raining jobs in the region. With Jobs come people from all over the country/world to settle in Gurgaon.

    4- Migration - There has been a (huge) mind set change in the people of Delhi. Previously, many years back Gurgaon was considered a small town and nobody wanted to move here from Delhi. Now every now and then I hear people from south delhi and rest of the areas moving to Gurgaon by selling their ultra expensive homes in Delhi and picking up relatively cheap homes in gurgaon. I call it a small migration in itself that has long term impacts, both in Qualitative (gentry) and Quantitative (increasing demand) terms.

    I think Gurgaon real estate market will continue to expand positively in the coming 7-10 years (long term) in line with the overall Indian economy in general and local Gurgaon economy in particular. Of course there may be little bumps on the way. People waiting for a real correction (prices down by more than 20%) will probably have to wait for 10 or more years. I dont think prices going up by 100% within 2 years and then going down by 10% qualifies to be a correction.

    Please I mean no disrespect to anyone....just my humble opinion and view.

    Good Luck with whatever decision you make.....buy/sell/ or wait on the sidelines.....:bab (4):
    CommentQuote
  • Seems to agree with lovehate. Timing market is not everyone's cup of tea. No one can predict stock market and real-estate market. I think if one is buying primarily for personal use, He should go for it if it is affordable and meets his requirement.
    For others who are traders, they should have appetite for both profit and loss.
    CommentQuote
  • Add to this the fact that GGN is considered a safe destination for investments by most NRIs of North India background.

    Case in point is the recent DLF plot offering in Sec 91-92 that sold off in less than 2 weeks. I hear that most of these plots were picked up by NRIs.

    Also, there is no credible alternative to GGN as of now. It may change in the next 5-10 years, but I do not think anyone knows the jackpot location that could offer multiple returns.
    CommentQuote
  • lovehate: nice analytical thinking.

    Let me talk about a few more points:

    1. As for the stock market, I've been involved with a couple of exchanges globally (NYSE and BSE) and from an insider's perspective I can tell you this: most of the trading now a days is done by sophisticated terminals (computers) that trade based upon a set of micro and macroeconomic data so unless a trader has some insider info on the stock they are just following the computers which incidentally are most often used by the FIIs (Foriegn Institutional Investors).

    2. Coming to the question of real estate - I fully agree with your analysis that the market SHOULD not harbor any fears. That said, I cannot imagine the RBI not tightening the money supply further in the coming months if the inflation continues its upward spiral (they do not have any other option!). Once that is done and the bank rates are revised I would imagine that people would start preferring renting places rather than buying them given the high interest rates. Although I am not sure how many investors to a inflation adjusted, interest rate payment calculation so one can not be sure about this. So the picture may be pink but not as rosy as you predict! :-)

    Best,
    SS
    Originally Posted by lovehate
    Let me share my perspective......

    I have been hearing this "correction" word for Gurgaon RE for the last 6-7 years. I wanted to buy a plot in Palam Vihar at the rate of 5000/sq yard in Dec 2004. Took too long to decide and then before I realize the rates were 12000 in May 2005. Everyone told me there is going to be a "Correction" soon and I should wait. However the rates kept rising. Rest is history....today the prices are around 70-80000. There indeed was a brief reduction in prices in 2008 when prices came down to 30000 from 35000 in 2007 peak. I dont think thats called correction.

    Here is a macro economic concept to consider....if it applies at all.....

    both Real Estate and Stock Markets discount and price in the most probable future scenario. Stock markets goes up when common people dont realize whats ahead and everyone keeps thinking why stocks are up. Same applies on the downside as well, at least for stocks markets. Markets goes down with no apparent visible reason, again the markets discount whats the most probable future events. When future events unfold then everyone just try to catch-up with reality.

    If you apply the same to Real Estates in Gurgaon.....I think below is the macro scenario ( again its my perspective, I could be wrong and you are entitled for your opinions )

    1- A small city that has been transforming into a mega Metro-sub-urban city. Look at the population growth for the last 7 years and projections for next 10-15 years in GGN-MANESAR master plan.

    2- Poor Infrastructure is being (painfully slowly) replaced with new and modern infrastructure. Delhi Metro, Expressway, Rapid Metro, Master Sewerage, MCG formation etc.

    3- Jobs, Jobs and Jobs....its been raining jobs in the region. With Jobs come people from all over the country/world to settle in Gurgaon.

    4- Migration - There has been a (huge) mind set change in the people of Delhi. Previously, many years back Gurgaon was considered a small town and nobody wanted to move here from Delhi. Now every now and then I hear people from south delhi and rest of the areas moving to Gurgaon by selling their ultra expensive homes in Delhi and picking up relatively cheap homes in gurgaon. I call it a small migration in itself that has long term impacts, both in Qualitative (gentry) and Quantitative (increasing demand) terms.

    I think Gurgaon real estate market will continue to expand positively in the coming 7-10 years (long term) in line with the overall Indian economy in general and local Gurgaon economy in particular. Of course there may be little bumps on the way. People waiting for a real correction (prices down by more than 20%) will probably have to wait for 10 or more years. I dont think prices going up by 100% within 2 years and then going down by 10% qualifies to be a correction.

    Please I mean no disrespect to anyone....just my humble opinion and view.

    Good Luck with whatever decision you make.....buy/sell/ or wait on the sidelines.....:bab (4):
    CommentQuote
  • on golf course road now , rates of residential 12k-13k(verandahs and palm springs ) nd rate s of commercial 12-13k(suncity business tower and palm springs plaza(these are best commercia spaces on Golf course road)) ...


    does the price make sense ??

    also i dont think prices are gonna come down in another 6-8 months at least , and market says they would go up further , this would complete 2 yrs of people on forum asing for correction and i guess a price increase of approx 30-40 % at least !!!
    CommentQuote
  • Real Estate in Gurgaon – Witnessing Boom in Prices!

    Gurgaon; one of the largest Industrial hubs of India is growing on a very fast pace and slowly becoming an attraction for the working youth of India. Along with the increase in industrialization, the scarcity of land and space is also increasing. The role of real estate developers is to manage and develop the commercial as well as residential property and raw land of Gurgaon.
    The commercial property in Gurgaon is a luxury now days. The IT Park in Gurgaon is a collection of offices and commercial buildings which are available on rent or lease. The Indian Real Estate Forum is responsible for marketing and renting of the offices in the IT Park. Many private IT parks are also there which are owned by real estate developers/builders like Spaze IT Park. The Spaze also has residential complexes named spaze privy complexes. The Platinum tower, corporate park and Business Park offer many offices on rent. You can also buy office space in these complexes. The Spaze Boulevard is a commercial hub where you can buy office space or get it on lease. Many other Boulevards are there in Gurgaon. The Spaze Palazo is an integrated commercial park where retail shops are available as well as recreational facilities are there for the visitors.
    The retail shops also make a very important commercial property for the businessmen. Many retail shops on prime locations are available on lease or rent in Gurgaon. The real estate developers mediate the deals between the owner and the tenant of the retail shop. The real estate developers have user friendly and informative websites through which they can be easily contacted. DLF is a big name in the world of real estate. The DLF city has properties of residential, commercial as well retail shop use.
    The Real Estate Developers provide details about their new construction and offers on their website. They work for complete customer satisfaction and provide well furnished, equipped as well as non equipped houses and offices. The booking of these properties can be done on the first come first served basis and the deals are finalized after checking every aspect of the buyer as well as the builder by the real estate developer.



    Real Estate in Gurgaon – Witnessing Boom in Prices! « Real Estate Blog
    CommentQuote
  • With Indian Property fair happening around the globe...expect prices to only increase

    Indian property to be on show


    IF YOU have been thinking of buying property in India, now could be the time to take the plunge. After all, India's property prices are finally correcting after a year of being on an uptrend, which had slowed sales across the country. And, despite the cyclical state of the real estate market, analysts expect a relatively buoyant market at least over the next few years.


    To make your purchase easier, Dubai- based events company Sumansa Exhibitions is bringing the Indian Property Show to Singapore. To be held at the Suntec Convention Centre (Hall 402) from Aug 12 to 14, the show will feature over 100 projects worth US$660 million by more than 30 developers, with prices slated to begin at Rs17 lakhs. Among the participating developers are well-known names such as Unitech Ltd, Vatika Group, Godrej Properties, Hiranandani, Jaypee Greens, Lokhandwala and Ireo.


    Sumansa chief executive officer Sunil Jaiswal, himself an experienced property investor, believes that now is an opportune time to invest in the Indian property market. "The demand for property is at a high. We will again witness a rise in property prices in India in the near future and hence this is the right time to buy," he says.


    He says investors keen to strengthen their financial portfolios should add real estate as a hedge against rising inflation, and adds that those looking to maximize their return on investment should definitely visit the Indian Property Show for some attractive deals.


    Not only will visitors get information on properties available, but they will also get a complete list of investment options, financing sources, legal issues and Vaastu consultations, all under one roof. Dubai, has travelled around the world this year, with exhibitions in Durban, London and Dubai. Buoyed by the response from buyers and developers in those cities, the organisers are bringing it to Singapore which has a large Indian population, both local and expatriate. In fact, Mr Jaiswal is hoping to see more than the 11,000 people who attended the Dubai show in June.


    According to Sumansa, the Singapore show will also feature property and investment seminars by influential property gurus, international fund managers and advisers. Many of these sessions are likely to focus on the real estate hot spots in Tier 2 and Tier 3 cities such as Gurgaon, Noida, Pune and Navi Mumbai.
    The developers are gearing up to offer a mix of ready, under-construction and planned projects. The top 10 hot spots in India currently comprises a mix of metros such as Mumbai, Kolkata and Chennai and Tier 2 cities such as Gurgaon, Noida, Pune, Kochi, Bangalore, Ahmedabad and Hyderabad. According to the organisers, 70 per cent of the projects will be residential, while the balance comprises commercial and retail spaces.


    Indian property to be on show
    CommentQuote
  • well, if you look at ggaon land prices today, most of ggaon is at 1/6 or 1/7th of the avg price in delhi. With the pace of development of ggaon, this gap should only narrow in the forthcoming days, and all of us know that delhi prices wont come down so gurgaon has only one way to go and thats upwards. Even c grade commercial in good parts of delhi is 10K plus so i would imagine that A grade commercial space on golf course road is undervalued at 12k !


    Originally Posted by ISHANb
    on golf course road now , rates of residential 12k-13k(verandahs and palm springs ) nd rate s of commercial 12-13k(suncity business tower and palm springs plaza(these are best commercia spaces on Golf course road)) ...


    does the price make sense ??

    also i dont think prices are gonna come down in another 6-8 months at least , and market says they would go up further , this would complete 2 yrs of people on forum asing for correction and i guess a price increase of approx 30-40 % at least !!!
    CommentQuote
  • Gurgaon Catching Delhi price

    Originally Posted by vshinde98
    well, if you look at ggaon land prices today, most of ggaon is at 1/6 or 1/7th of the avg price in delhi. With the pace of development of ggaon, this gap should only narrow in the forthcoming days, and all of us know that delhi prices wont come down so gurgaon has only one way to go and thats upwards. Even c grade commercial in good parts of delhi is 10K plus so i would imagine that A grade commercial space on golf course road is undervalued at 12k !


    Hi Vshinde98
    Greetings

    Amen..GGN touching then crossing delhi rates.. we will be redeemed..

    A daring thought but quiet possible. Thats because 1000s of families are moving to GGN for better life style and S P A C E and now also for vocation (work/business).
    quiet a few unauthorised, messy colonies of Delhi quote Rs 60K to 1.5Lacs psy.. (I am not sure whether I should call them colonies of dirt, dampness, darkness and debris) These cost anywhere between 50Lacs to 1.5 Cr for 80-120 sq meters per floor

    Interesting thought

    Cheers
    CommentQuote
  • I agree, even i have been seeing many families who have been settled in Delhi from a very long time are now selling off their properties and shifting to Gurgaon because of the obvious reasons that you have mentioned.
    CommentQuote