I am a NRI and always wonder who the hell is buying in Gurgaon at such exorbitant rates. I discuss with my NRI friends in US and also my friends in India and all just say one thing "Don't know who is buying these expensive flats/apartments but the prices are continuously rising". So I am starting this thread to get views from other people who are more actively involved in RE.
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  • Guys we are getting offtopic.

    Lets end the argument here and move on.

    My humble request.
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  • Guys,

    I am going on a long leave.....
    If you are sure of your conviction, do whatever you think.

    (Life mein koi gadha/godha nahi hota...but ban na padta hai)

    Good Night,
    Matrix
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  • Matrix bhai dil todne wali bateein mat karo:(
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  • Originally Posted by kinjalchato
    i agree let us look for some data instead of speculation, anecdotes, hearsay . Look forward to the same from you.

    so what about no one buying theory , are you expecting no registration or 90% reduction or 60% reduction or 10 % . will be nice to hear your comments.

    so as per the theory since no one is buying and are going to buy , these investors with tonnes of money forcing the builders to keep on increasing prices when no demand exist and no one is buying or selling. nice theory once again :) :)

    This theory has been heard for atleast last 5 years from the experts , but never seem to come through. always wait for one year , abhi aaya ji , abhi next year ji.

    i have never advocated that prices will always increase, it will be stupid to do so. However over long term it has and it will outpace returns from most of the avenues. i do agree one should never over leverage in any investment , be it RE, gold or stocks.



    There is a difference of 1000-1500 per square feet between fresh builder rates and resale rates is a FACT.
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  • I read below somewhere in IREF

    “If you can’t buy it today you won’t be able to afford if tomorrow.”
    A simple question came into my mind, if someone was not able to afford 30laks flat in 2007- 2008 can he/she afford the 1.5 Cr flat today?
    Who can?

    I think people who could afford it that time, can afford it now and my opinion is that most those people are already invested up to most of their capacity.
    Now the question is when all the UC properties will be RTM and most of the investor s would close their positions then who would be the buyer?

    I have been a regular reader of IRFE since 2007, and above is my personal experience. I was not able to buy in 07 -08, can’t buy today and I am sure I will not be able to buy in future until I quit my job and start a tobacco or liquor business.
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  • Well if you are a big businessman , Forex trader , builder , politician then only you can buy flats/apartments. because in most cases the purpose behind buying is to make money from flats. So this apartments are just for money making purpose.
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  • Originally Posted by dhiren1
    I read below somewhere in IREF

    “If you can’t buy it today you won’t be able to afford if tomorrow.”
    A simple question came into my mind, if someone was not able to afford 30laks flat in 2007- 2008 can he/she afford the 1.5 Cr flat today?
    Who can?

    I think people who could afford it that time, can afford it now and my opinion is that most those people are already invested up to most of their capacity.
    Now the question is when all the UC properties will be RTM and most of the investor s would close their positions then who would be the buyer?

    I have been a regular reader of IRFE since 2007, and above is my personal experience. I was not able to buy in 07 -08, can’t buy today and I am sure I will not be able to buy in future until I quit my job and start a tobacco or liquor business.


    This is a sad truth in indian real estate. Its held true from 1970s in my personal recollection

    Problem is when you can afford but dont buy. And impoverish yourself. Has happened with me and many in my family circle.

    Matrix bhai dont expect sense. Even non sense can make you rich while the most sensible decisions bomerang. Sab uparwale ke haath me hai. And as I said to kc iref ko chodna mushkil hi nahi namumkeen hai

    Btw surprised kc was trying to quit just one thread. Lo and behold. Another similar thread materialised. Like leaving heroin and finding methodone.

    Lol
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  • Originally Posted by Venkytalks
    This is a sad truth in indian real estate. Its held true from 1970s in my personal recollection

    Problem is when you can afford but dont buy. And impoverish yourself. Has happened with me and many in my family circle.

    Matrix bhai dont expect sense. Even non sense can make you rich while the most sensible decisions bomerang. Sab uparwale ke haath me hai. And as I said to kc iref ko chodna mushkil hi nahi namumkeen hai

    Btw surprised kc was trying to quit just one thread. Lo and behold. Another similar thread materialised. Like leaving heroin and finding methodone.

    Lol


    venky,

    am not sure about heroin or methodone , but whatever you take before making those yearly predictions, is something i would like to try .

    The shear breadth of the same & the thought process that goes in framing them are something to learn.

    so please do share tips , other than passion of history ( i presume ) , that generates this kind of output.

    Keenly looking forward to the next installment . I am not sure about other threads, but one thread from which i will never take sabatical is that thread of yours where you make your annual predictions.

    please continue educating us.
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  • Originally Posted by dhiren1
    I read below somewhere in IREF

    “If you can’t buy it today you won’t be able to afford if tomorrow.”
    A simple question came into my mind, if someone was not able to afford 30laks flat in 2007- 2008 can he/she afford the 1.5 Cr flat today?
    Who can?

    I think people who could afford it that time, can afford it now and my opinion is that most those people are already invested up to most of their capacity.
    Now the question is when all the UC properties will be RTM and most of the investor s would close their positions then who would be the buyer?

    I have been a regular reader of IRFE since 2007, and above is my personal experience. I was not able to buy in 07 -08, can’t buy today and I am sure I will not be able to buy in future until I quit my job and start a tobacco or liquor business.


    The main reason we don't end up buying flats (and I have been guilty of this in past as well), is that we convert the cost (or 80%) of it into EMI (eg 1 lac for 1cr) and think that we can not afford it, as our current salaries can't match it. But the fat is that, you will have to pay full EMI only 3-4 years down the line, by when your salary would have become 1-3 - 1.5x at least (assuming 10% growth), and would be able full EMI value. But if you don't buy, the value of flat would have doubled by then

    You just have to back your salary growth and take the plunge. Even if that doesn't work, then believe that market is liquid and you can exit within few months if are not able pay the

    EMIs. Either ways you make money ..
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  • Even if txns have slowed down in recent months. People still have enormous holding power. Nobody is willing to sell at a loss. They will sell when they will get a good ROI only. So cheap supply is a pipe dream and RE rates will remain resilient to temp market dips.

    Having said that delhi biz man are buying apartments in bulk in gurgaon / noida. Have spoken to few of them during festivals. They were like where else they can invest profit surplus - Stocks are out of fashion, Commodity trading is pure hence RE is in.
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  • People with colored money dare to buy at any time irrespective of bear or bull phase
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  • I am pretty sure that Lalaji's even if they have money are not buying builder floors in Delhi.
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  • And Gold appears to be a much better sink of black money as of now.
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  • Originally Posted by Krazy Yuppie
    People with colored money dare to buy at any time irrespective of bear or bull phase


    by using word "dare" u hav turned such people to heros. well they r cowards, otherwise they wudnt hav to hide their "coloured" money.
    rather than saying they "dare" to buy at any time, i wud say tht these cowards hav no other option but to buy at any time, as they dont hav any place to hide their illgotten money.
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  • I really fail to understand when peoples talk about peoples buying with black money. I agree that in Re-Sale one can cash payout the Premium and convert some % of money to white but I don't think in New launches (dealing with direct builder) how one can pay blackmoney?

    Builders always accept cheque and if we have to pay them cheque then the entire transaction will be in our books so that money can not be black..

    If there is any other way kindly enlighten me by sharing it.
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