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ITS OFFICIAL - Slump in realty sales hits brokers really hard

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ITS OFFICIAL - Slump in realty sales hits brokers really hard

Last updated: June 22 2011
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  • #11

    #11

    Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

    Slump is not confined to Noida according to the Article, but is evident all over india and political issue in Noida does not hold relevance all over India.

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    • #12

      #12

      Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

      Some folks are commenting on slump for next 6 months to 2 years, so is that for the whole NCR or just for Noida? Areas in Ghzbd like RNE, CR might grow because of end users moving from NE. Gurgaon is unrelated of what is happening in Noida and its belt inlcuding Dharuhera/Manesar might see some investors coming in from short to long term. There can't be a slump in Delhi as properties are limited. other than Neharpar, Faridabad has never gone crazy like Noida , most of the supplies are occupies by end-users. I can't comment on Neharpar as the appreciation depends a lot on other factors like infra, timely construction etc.

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      • #13

        #13

        Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

        Real Estate Investment has become a fulltime hobby for most of the desi’s. People are becoming greedier and want more. Given this attitude, the prices will only rise in the long-term.

        Yeh Bhookh Kab Bhujegae?

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        • #14

          #14

          Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

          Slump need not mean price correction, probably not.

          Slump can also mean that companies are unable to sell new bookings. So listed companies dont make any profits - and have to service loans without profits.

          Usually cause slow down in construction activity. In real estate prices correct only in news papers, in real life if you go to buy a flat with 30% discount in your mind - you never get it.

          All you will get are top floors at 30% discount which you anyway get even in normal times
          Venky (Please read watch a or before posting)

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          • #15

            #15

            Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

            Well said Venky Bhai. I think this would also prompt builders to continue construction of their already sold projects in a faster way. This would bring them new money and also gain in their reputation.


            Originally posted by Venkytalks View Post
            Slump need not mean price correction, probably not.

            Slump can also mean that companies are unable to sell new bookings. So listed companies dont make any profits - and have to service loans without profits.

            Usually cause slow down in construction activity. In real estate prices correct only in news papers, in real life if you go to buy a flat with 30% discount in your mind - you never get it.

            All you will get are top floors at 30% discount which you anyway get even in normal times

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            • #16

              #16

              Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

              quite right when you saySlump need not mean price correction, probably not.

              Slump can also mean that companies are unable to sell new bookings. So listed companies dont make any profits - and have to service loans without profits.

              I will go ahead it means only this in MOST cases....

              but for a customer slump ONLY means price correction... reading papers and following pundits they postpone their decision.. in most cases miss the first upturn and then buy either bad prop or pay more.. its an irony and a fallout of too much flow of information

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              • #17

                #17

                Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

                Let us wait and watch. There will be some drop in prices no doubt, whether someone likes it or not. I am sure people who already own don't want prices to fall. And people waiting to buy, want prices to fall. Interesting view from both sides of the fence. Let us see who wins.

                Any balloon that fills more than its capacity has to .....(no guesses there).

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                • #18

                  #18

                  Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

                  There should have been an option for 2 years and 40% correction. We will revisit 2009 lows, at least in NCR region outside proper Delhi.

                  Visited neher par faridabad earlier today with a relative to see some BPTP floors and flats that are near possession. A single broker was offering over 20 floors and 27 choices in flats at close to original booking rates of 2005 and 2008. How long will people hold on to such properties with zero appreciation amd keep paying interest/EMI to banks?

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                  • #19

                    #19

                    Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

                    i have counted about 50 project in construction stage as of today only in noida and most of them having more then 1000 flats each .All of them say that the project got sold out in a month or so.I today bought into pan oasis directly from builder but brokers were saying there is no availability but builder told me that u could choose in most of the tower also almost any floor.
                    despite being a buyer today i think if rates are not going to fall they would definately would not give even bank FD rates for atleast next three years

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                    • #20

                      #20

                      Re : ITS OFFICIAL - Slump in realty sales hits brokers really hard

                      Originally posted by ThePunjabi View Post
                      There should have been an option for 2 years and 40% correction. We will revisit 2009 lows, at least in NCR region outside proper Delhi.

                      Visited neher par faridabad earlier today with a relative to see some BPTP floors and flats that are near possession. A single broker was offering over 20 floors and 27 choices in flats at close to original booking rates of 2005 and 2008. How long will people hold on to such properties with zero appreciation amd keep paying interest/EMI to banks?
                      Punjabi Bhai,

                      Can you please PM me the broker details ( M.obile number) of NP broker who is selling BPTP floors near possession at good discount, one of my relative is interested in NP Faridabad floor.

                      Thanks a lot.

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