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- Looks like New Integrated Licence Policy has not been read by many and its pros and cons understood .
Good to see constant denial on BSP of the invested Projects , not to mention what will happen once the impact of NILP is unleashed . One thing it will improve parts of livability equation at the cost of Inventory deluge.
So first it was NCR is doing wonders problem is in other markets
Then Gurgaon is doing well the problem is with Noida/ Ghaziabad
Then GCx is doing very well, it is the DEW / New Gurgaon where there is an issue
Then GCx is okay it is the SPR
Then GCx RTM is okay it is the UC
Then " the project I invested in is okay ", it is the others which have issue
Then the 3 bhk is okay, the issue is in 2 bhk
Then the better located 3 bhk in my project is okay, it is the other units which have issue.
Classic evolution of denial and will follow by Panic and then Capitulation and then acceptance .
Though there may be logic in some of the arguments in is undeniable that people are in denial and the bottoming out phenomenon keeps on getting lower and lower.
This is GCx perspective and if you ask a DEW / SPR investor his perspective will be completely different on point 3 and will wax and wane between intermittent news of DEW/ SPR completion just around the corner . The only hope is that the new government appears to be sincere in addressing Infrastructure issues .CommentQuote1Flag
- Originally Posted by bijoydasWell the BSP for most of the units I have evaluated in Skyon (and these are good units with park facing) are at BSP of 7500 (Market has not gone that much and anyways at 8000-8500 project is not worth it) , so that reduces 20 lakhs from your price and it falls exactly at a quotation of < 1.8 Cr which is just decent and still m skeptical if it is worth buying or not .
Guys, bottom line is that Real estate market has not yet recovered and the BSP upgrade is just a superficial ones with no real buyers out there.
Secondly I didnt like Heritage One because of one major flaw I discovered that its celing height is very low (like it will be a major difference if you go to any apartment at Grand Arch, Uptown, Merlin, Bestech etc and come to H-One) and the overall landscaping + apartment architecture is just OKish.Hence I have taken that out of my options now
Quite frankly Merlin , Skyon , Grand Arch, Bestech PVSN and Raisina (if we dont consider the approach road) are worth from the point of view of landscaping + luxury architecture and value for money.- just waiting for the right deal
So you are saying you have offers of 7500 for skyon , for "good" units . will be a reality check .CommentQuote0Flag
- KC Bhai , everyone one will be really surprised if the gentleman have a offer of 7500 .. We are group of 42 owners and I am sure that no one have found at 7500.
I myself was looking to buy another 3 Bhk unit but nothing below 8350CommentQuote0Flag
- Respected Members,
This is not to personalize / offend anyone. There are few deals in 7200, 7500 (one of them park facing) although I am not a better judge of the perspective of what's better location etc. which floor etc
To me any floor is OK and any facing (Aravali or road or park) is OK. In the long run ,the entire ecosystem is almost going to be the same for this area. It is not in best interest to reveal those names / deals of the owners with whom I am in touch with. I know many owners might have bought at higher rates and this happens everywhere. Even in Kolkatta I bought a vila whose price tanked by 30% the next year- nothing to be emotional about- no regrets.
However my review stands firm that Ireo Skyon is not at all worth beyond 7500 psf and neither is H-One or Uptown or Merlin or VV or PVSN and this is based on current real estate scenario as the rates will even sink more in upcoming months (guys just look at the news- millions of inventories unoccupied in Delhi NCR and the explosion is just close and hence this is not the right time to buy a property at any inflated rate based on market's fabricated analysis of BSP).
Again , the panic amongst early stage investors have already started and many of them are shelling out their investments at a lower BSP (although still in profit) in order to avoid the future turmoil that might reduce prices even further and no. of buyers reducing year by year.
I might be a very critical person when it comes to evaluate anything and that is one of the reasons I am taking too long to finalize my preference. Frankly I dont care whatever happens to real estate , the only thing is I get my flat at the best VFM available now.
Kindly ignore any grammatical errors as well as apologies in advance if I said something someone is not in agreements with.
- Originally Posted by JethroNullThe biggest challenge for GCExt properties for the next 3-4 years is livability and that is being reflected in the BSP. Add to that the best case scenario of stagnation for the next 2-3 year in RE, current prices also look high.
While Uptown and Heritage maybe excellent properties, but the approach roads, incomplete infra etc. leave a lot to be desired.
Complete agreement !CommentQuote0Flag