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Where is the correction??

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Where is the correction??

Last updated: July 23 2011
26 | Posts
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  • #11

    #11

    Re : Where is the correction??

    Originally posted by amit001 View Post
    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??
    Addition to the lists
    Pioneer park from 5300 to 5600
    Belaire from 9300- 10000 (ready possession ones)
    Park place from 8300 to 9000ish
    Palm springs from 11 k to 12k
    Sl-4 plots from 47k to 52-54k

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    • #12

      #12

      Re : Where is the correction??

      Many would disagree ( but for the benefit of those, who have missed on this thread ) -


      https://www.indianrealestateforum.co...-india?t=16152
      Please read IREF rules | FAQ's

      Comment

      • #13

        #13

        Re : Where is the correction??

        Originally posted by MANOJa View Post
        Many would disagree ( but for the benefit of those, who have missed on this thread ) -


        https://www.indianrealestateforum.co...-india?t=16152
        yes its better to see both sides of the coin ...
        Cheerz

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        • #14

          #14

          Re : Where is the correction??

          Appreciate, yr. fairness in letting both sides of coin to have an equal opportunity .
          Please read IREF rules | FAQ's

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          • #15

            #15

            Re : Where is the correction??

            Housing prices may go up by 5-10% with rising interest rates

            Housing prices may go up by 5-10% with rising interest rates

            Will there be few buyers....?
            or
            Its right time to jump into real estate, for those who are waiting for correction to happen....?

            Comment plz...

            Comment

            • #16

              #16

              Re : Where is the correction??

              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.

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              • #17

                #17

                Re : Where is the correction??

                Originally posted by djvjain View Post
                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 !!!

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                • #18

                  #18

                  Re : Where is the correction??

                  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.....
                  Last edited July 8 2011, 08:01 AM. Reason: c

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                  • #19

                    #19

                    Re : Where is the correction??

                    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.

                    Comment

                    • #20

                      #20

                      Re : Where is the correction??

                      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.

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