Announcement

Collapse
No announcement yet.

Who the hell is buying in Gurgaon

Collapse
X
Collapse

Who the hell is buying in Gurgaon

Last updated: December 31 2012
186 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Who the hell is buying in Gurgaon

    Originally posted by abc111 View Post
    Let the registration data come for 2012; even that is going to show dismal numbers.
    Generally facts don't select themselves.Comparing numbers with 2009 which was a year of extreme severity may not be appropriate.
    Giving 2006,2007 numbers for stamp duty collection would offer better comparison.

    Downturn/stagnation started in Gurgaon market from last quarter of 2011.

    And because of the way Gurgaon market's work; builders usually don't take panga with big underwriters,financiers.
    So to keep them happy; they keep on on increasing the fresh rate in spite of the fact that there is no demand at those absurd prices.

    The illogical builder rates make resale (which in itself is expensive) look comparatively cheaper.
    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.

    Comment


    • Re : Who the hell is buying in Gurgaon

      + 1

      Originally posted by kinjalchato View Post
      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.

      Comment


      • Re : Who the hell is buying in Gurgaon

        and for heavensake, let us stick to discussion and not name calling . Punters, broker under the garb of Investment bankers with false linkedin , ignoramus, builder agents / company employees and the list goes on and on. If not then professionals who have lot of time to paste articles.

        How come most of the namecalling is done by some of the professed RE bears . Irrespective of who does it is wrong and would request all of us from refraining.
        Last edited December 25 2012, 08:49 PM.

        Comment


        • Re : Who the hell is buying in Gurgaon

          even lappu chappu's are buying these days...high profile ppl can buy anytime as always. 3 of my team members in the age bucket of 27-30 has recently bought ready to move in GGN Value ~1.25 cr each Not so high salary ..10 lakhs annual on an average.

          - Average loan of 50 lakhs..saving of 10-15 lakhs ..rest support from parents.

          In all the 3 cases they were getting married and wanted to move in new home.

          Comment


          • Re : Who the hell is buying in Gurgaon

            Indeed

            Originally posted by Venkytalks View Post
            Vacations abroad
            Ipads and smart phone and surfacetablets
            Imported suvs and big cars
            Jaguar fittings. Jacuzzis.hettich modulat kitchen
            Airfare
            Petrol
            Forign education


            All of theze will go up a lot when dollar rises.

            We are now globalized
            Indeed so Venky and others,
            Infact there's a bit more and am sure KC also knows that already or will figure that out soon himself anyways, he is a smart guy.

            (Henceforth, The lines in italics are just private musings but IREF has become so addictive I have just reproduced. Just ignore the italics in first reading and then come back and re-read with italics.)

            But before that, I must acknowledge what KC is trying to say - We (as in Indians), have limited options to invest into - comparable to RE returns - and my talking abt USD returns to Indian Residents may not make sense.
            Agreed - fact being India is a net importer etc.. Nevertheless Agreed.

            However,the foreign investments coming to India do care about that. Like I said earlier, If only the locals 'get it', it could lead to 'irrational exuberance'.
            So 100% of the outside world (except possibly NRI's) care about exactly that - USD returns.

            (Anyways,NRIs decide to invest in India because of practical reasons-> as Sheeshu also made clear in earlier posts. Which means the investment decision starts with 'managable assets' in mind, which given past returns, leaves no doubt, where the money should go - Indian Assets and to RE. Bulgarian RE might be giving better returns but given the practical constraints of managing this second wife! And I would have to do perhaps the same. Practical constraints is reality.
            BTW Look out for Indian REITs - i am hearing some noises on that for rental income hence I asked sheeshu to compare abt US rental income - I for one is totally sold on non-INR assets for reasons not hard to decipher)

            Land in Farrukhnagar - 6kms away from DLF gardencity might be 500 psf but can most people invest in it?
            No,coz the guy selling it might be suspect, the area might not develop for next 10 years.. the local leader will block progress, the land might elope with triangular police-lawyer-goonda setup. I might not know anyone in Farrukhnagar to take care of the property etc etc - And these are genuine concerns, mind you.
            Maybe, for a migrant to invest in India is as good as (or bad as) investing in a different country!

            So as you see - there are not as many options as the mind likes to believe and hence the prices of the RE in gurgaon can be twice as much as today. Because we have no option. That is the strength of NCR RE. And possibly the weakness.

            Those who cannot afford to buy, live in illegal or unregistered colonies -
            which mind you have a much stronger brand vs value proposition (i always hate the term brand_value, i intend to do a analysis on value/wealth that brands have destroyed to generate probalbly a 1/10th for their owners) than the illegal word would suggest.
            (just name the colony sonia/rajeev/rahul/priyanka blah blah- Mass politics notions in India are still in 1667 even though they steal telecom spectrum in 21st century)
            The people who stay in such colonies are not illegal BTW... just that you will have to pay for the EDC,IDC out of your pocket (but you already do) and cannot select the gentry. Uh Oh...

            Such colonies are perhaps half the size of modern gurgaon by population (hey whole of haryana is just an illegal colony by Gurgaon Standard!) just get away with it because there is nothing extractable from them except votes. If I add old gurgaon, probably 90% of gurgaon is similar.
            (Unless you are Sainik Vihar or similar village residents of even Delhi where farm houses buy and takes over the village and are then regularised to boot - what did you think only seelampur slums get regularised?)
            Anyways, No one can evict you from your own land to create villas - heck they are not able to evict you to create highways or ammunition depots. (I do not claim to know all that is wrong with DEW)

            Coming back to point - What is extractable from this gentry which buys the sky villas is what salivates each politician/builder worth his salt every night. The result is the most common query of a newbie on IREF - Builder asking money for reason $4578 blah blah.. is this legal?

            So why do people not buy stuff in illegal/unregistered colonies and still go to get molested with branded builders?
            Well, apart from the obvious, they do not resell at rates of builder apts so there is a huge difference in prices
            (and possibly returns.)

            Which brings us back to the basic question? Is branded RE in India a sanitised version of a trading platform which clearly assumes that the person logging in to play knows its risks - i.e. and also has enough in his pocket to loose it. Buyer Beware per se?

            Play with 8-10L cheque. (8-10 L? Probably not enough even for the parking but you know me - I love to wet in other's pants! )
            So being a Builder, why am I asking it anyways? For the commitment -> I know once an Indian has paid for his home, he is mine.
            ..... Besides I love to donate money - I know this land is worth 2x in 3 years but because of my charitable instincts I am sharing it with comrades. Only no stock markets do not seem to buy it... must be irregulated unlike RE!!
            TCO of a home (sorry assebility) is something that will take years for them to figure out. By then, god knows how many crops will be shaved and possibly governments.
            Maybe it took 30-100 years for RE cycle to dip by 30-50% in US, probably less in Ireland. Even less in China - even chinese don't know what happened to the RE boom of late.
            Who am I - a lowly builder in the age of bernankes... heck they removed the 'Sir' from the RBS chairman guy years after....and raped the Irrational Exuberance guy - alan greenspan a decade later... notices have been served to the NDA government in 2004 for telecom scandal and for Doordarshan team who failed to arrive at 7 race course road on time for PM interview on rape coverage.. in 18 hours flat... To each his own!
            Who knows whats in store tomorrow.
            No rules. To each his own. Hell is here on earth. Customised.
            (No Pun 4 Rushil.. sorry yaar..I find myself using it way too often nowadays.. its a sexy thought perhaps the most lovely thought for reasons more diverse than RE)

            Besides, the RE pricing is variable - depends on how much can be extracted from whom? For some - the market leader has to pay loan to request them to pls buy at 20% of the list price... for others its CCI level punishment... and BBA's.

            Here is the summary:

            Gaddhe ko ghoda nahi bana sakte bhai! Gadha gadha hota hai aur ghoda Ghoda. Har woh aadmi jo is line ko cross karegaa woh violator hai aur usko gadha banao.

            RE buying is not a product but a service. Do not be a nuisance to yourself.
            ----------------------------------------------------------------
            Cheers,
            Matrix
            (A innocent bystander caught in crossfire of investments and investors!)

            PS: For the last 48 hours, I am trying to learn Java... or at least as much as my rounds of Teacher's permit . the only thing i could manage to notice, was - In Java, Everything is an Object.
            I almost fainted when I read it as -> In Java, Everything is an Investor.

            bye
            ------------------------------------------------
            Last edited December 25 2012, 09:44 PM.

            Comment


            • Re : Who the hell is buying in Gurgaon

              This thread is fast becoming a replica of the Bubbles thread, and i had taken a sabatical from there . I guess i need to log off before it gets more intense, not easy to stay away from so many provocations/ inspirations in this never ending debate . Better to keep quiet and unlearn lot of your learnings to learn afresh.

              Comment


              • Re : Who the hell is buying in Gurgaon

                Originally posted by golu11 View Post
                even lappu chappu's are buying these days...high profile ppl can buy anytime as always. 3 of my team members in the age bucket of 27-30 has recently bought ready to move in GGN Value ~1.25 cr each Not so high salary ..10 lakhs annual on an average.

                - Average loan of 50 lakhs..saving of 10-15 lakhs ..rest support from parents.

                In all the 3 cases they were getting married and wanted to move in new home.
                couple of months back we took a taxi. was surprised to hear personal stories of the driver. even he is buying properties. lol
                mass hysteria, to say the least.

                Comment


                • Re : Who the hell is buying in Gurgaon

                  Is being a net importer makes you a lousy economy , look at the countries with largest Current account deficit . None of the petrol export countries fall in this category for obvious reasons with exception of Germany , China , Japan & south korea which have a huge manufacturing base.

                  178 Ukraine ($ -10,250,000,000 )

                  179 Mexico ( $ -11,070,000,000 )

                  180 South Africa ( $ -13,680,000,000 )
                  181 Portugal ($ -15,440,000,000)

                  182Poland ($ -22,250,000,000 )

                  183Greece ($ -29,360,000,000 )

                  184Australia ($ -29,500,000,000 )

                  185European Union ($ -32,720,000,000 )

                  186United Kingdom ($ -46,040,000,000 )

                  187India ($ -46,910,000,000 )

                  188Canada ($ -48,910,000,000 )

                  189Spain ($ -52,280,000,000 )

                  190Brazil ($ -52,480,000,000 )

                  191France ($ -54,440,000,000 )

                  192Italy ($ -71,870,000,000 )

                  193Turkey ($ -77,240,000,000 )
                  194United States ($ -465,900,000,000 )

                  Comment


                  • Re : Who the hell is buying in Gurgaon

                    Originally posted by kinjalchato View Post
                    Is being a net importer makes you a lousy economy , look at the countries with largest Current account deficit . None of the petrol export countries fall in this category for obvious reasons with exception of Germany , China , Japan & south korea which have a huge manufacturing base.

                    178 Ukraine ($ -10,250,000,000 )


                    179 Mexico ( $ -11,070,000,000 )


                    180 South Africa ( $ -13,680,000,000 )
                    181 Portugal ($ -15,440,000,000)


                    182Poland ($ -22,250,000,000 )

                    183Greece ($ -29,360,000,000 )


                    184Australia ($ -29,500,000,000 )

                    185European Union ($ -32,720,000,000 )


                    186United Kingdom ($ -46,040,000,000 )

                    187India ($ -46,910,000,000 )

                    188Canada ($ -48,910,000,000 )


                    189Spain ($ -52,280,000,000 )


                    190Brazil ($ -52,480,000,000 )

                    191France ($ -54,440,000,000 )

                    192Italy ($ -71,870,000,000 )

                    193Turkey ($ -77,240,000,000 )
                    194United States ($ -465,900,000,000 )
                    Quiz - chalo even against all these currencies, how many have depreciated against INR?
                    One? Five? None?

                    Clue: Currency depreciation is migovernance also.

                    BTW: REPEATING AGAIN***********************
                    Gaddhe ko ghoda nahi bana sakte bhai! Gadha gadha hota hai aur ghoda Ghoda.
                    Har woh aadmi jo is line ko cross karegaa woh violator hai aur usko gadha banao.
                    Last edited December 25 2012, 09:52 PM.

                    Comment


                    • Re : Who the hell is buying in Gurgaon

                      Originally posted by matrix_55 View Post
                      Quiz - chalo even against all these currencies, how many have depreciated against INR?

                      Clue: Currency depreciation is migovernance also.

                      BTW: REPEATING AGAIN***********************
                      Gaddhe ko ghoda nahi bana sakte bhai! Gadha gadha hota hai aur ghoda Ghoda. Har woh aadmi jo is line ko cross karegaa woh violator hai aur usko gadha banao.
                      are you asking over a period of time or over last few months. does few months depreciated currency makes a ghoda a gadha and if the currency appreciated then will a perceived gadha overnight become a ghoda. Is there any nation in this list which at some 6 month or more period have their currency depreciated , does that make them all gadhas.

                      when the gdp was growing great guns was there no corruption, no misgovernance no land grabbing, no corrupt builders , no rape, no crime , no drought . suddenly all these become issues when GDP growth has gone down ( still way way above most of the countries in this list ).

                      lambi daud mein kaun ghoda aur kaun gadha samay hi bateyega.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X