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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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  • #21

    #21

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

    Originally posted by ra_bunty View Post
    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
    This is the fact. It may be possible that rate will not be reduce much (on paper) but in some locations rate will not increased at all for next 3 years (same case like GN in last 3 years) or for few locations if rate increases then it will not be appreciate more than FD ROI. This situations will be in almost every area of NCR. Affordable housing will be least affected and in few affordable areas there are chances to increase the current 2000 PSF rate to 2700 PSF rate in next 3 years. If NE problem get solved in 1-2 years then rate appreciation in NE will also be quite good % wise. Maneser & CR affordable housing rates may increase total 25-35% in next 2-3 years. If Metro work started then RTM properties of NP , RNE affordable housing may get total 30-35% appreciation in next 2-3 years. Non affordable areas will face problem like very less rate appreciation for next few years. All are my own POV and knew it very well that most of members will not agree with me.

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    • #22

      #22

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

      Hi,

      My situation is very absured

      Whenever I purchase a property I saw a downfall or so called correction. Bhagwaan jaane kisa luck hai.

      In Noida, Ghaziabad, I believe the correction won't happen since the rate are still affordable for end users.

      Yes correction would be there but in luxury segment. As per my POV, in affordable segment the pricess will be constant and won't further increases for bla bla time till any positive news come.

      Always remember one fact that property won't give you negative returns if we invest for time horizon of 2-3 years

      So stick to your property and wait for any positive news to come and I believe the wait can't be more than 2 years.

      BR,
      P
      BR,
      P

      Comment

      • #23

        #23

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

        Originally posted by Prabal_India View Post
        Hi,

        Whenever I purchase a property I saw a downfall or so called correction. Bhagwaan jaane kisa luck hai.
        Just like all 50 students of a class room teach by same teacher & textbook but none of them got same marks, same as in property several factor counts. I have seen several of my friends and for me also that few got appreciation and few got loss in same area (and even same societies some times). Main differences was the time of booking (pre launching booking some time is good and several times is bad) , broker discount (some takes 4% and some manage it upto 10%) , good flat layout (3 BHK of 1275 SF will always give better return then 1275 SF 2 BHK) , good facings , floor height , genuine society rates as per the area.

        Purchasing right property at right place at right time is not easy to judge but who judge it they at-least do not face loss. LUCK also plays a major role.

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        • #24

          #24

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

          Price CRASH is a delicious subject... everyone love to discuss this. If you look at different sections like Pune, Mumbai, Chennai, you can find out many hot threads are running there and few are running for years... means expert predicted market crash few years back and we are still waiting and discussing ..)

          Without going into details once again (as we discussed this in Noida section also many times).... just ask a very basic question

          Will you be able to, daring enough to, equipped to, well connected to en cash a CRASH?

          Whether you like it or not, the answer is NO for most of the people for different reasons.
          Only few Smart, Daring, Deep pocket people make money in CRASH... anyway, those people make money in all seasons.
          People like you and me keep on talking!! ... so enjoy discussing

          Comment

          • #25

            #25

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

            Hi G-Bhai,

            I know this is irrelevant to the thread but still wud appreciate your views.

            I saw in some of your post in GN wherin you were looking for a plot / villa in GN area. Do you any recommendations in terms of area and the pricing.

            I have gone thru all posts / discussion (including of Zohaib) on GN but i am totally confused in terms of which area to select as there are many options.

            Option I - In and around pari chowk (Alpha / beta rates are not less than 45K per Sq meter)

            Option II - Upcoming Omnicron / Zeta (26-27 K per sq meter for a plot -32K - For Built up houses)

            Would you be able to throw some insight of yours.

            Regards,
            Prashant


            Originally posted by ondabhai View Post
            Price CRASH is a delicious subject... everyone love to discuss this. If you look at different sections like Pune, Mumbai, Chennai, you can find out many hot threads are running there and few are running for years... means expert predicted market crash few years back and we are still waiting and discussing ..)

            Without going into details once again (as we discussed this in Noida section also many times).... just ask a very basic question

            Will you be able to, daring enough to, equipped to, well connected to en cash a CRASH?

            Whether you like it or not, the answer is NO for most of the people for different reasons.
            Only few Smart, Daring, Deep pocket people make money in CRASH... anyway, those people make money in all seasons.
            People like you and me keep on talking!! ... so enjoy discussing

            Comment

            • #26

              #26

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

              Quite agree to it & at most times, land/apartments ( the most tempting one's ) r picked by the Big & not so big Brokers themselves to make a killing later & some by the Big/small Sharks . The common man normally hears on the correction ( that it has come - take benefit from it... & LOL, it is over now ) . He hardly benefits from it ( until, he is very lucky, has ample of cash & is at the right place, at the right time ).

              Originally posted by ondabhai View Post
              Price CRASH is a delicious subject... ........

              Without going into details once again (as we discussed this in Noida section also many times).... just ask a very basic question

              Will you be able to, daring enough to, equipped to, well connected to en cash a CRASH?

              .................
              Please read IREF rules | FAQ's

              Comment

              • #27

                #27

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

                Originally posted by prashant004 View Post
                Hi G-Bhai,

                I know this is irrelevant to the thread but still wud appreciate your views.

                I saw in some of your post in GN wherin you were looking for a plot / villa in GN area. Do you any recommendations in terms of area and the pricing.

                I have gone thru all posts / discussion (including of Zohaib) on GN but i am totally confused in terms of which area to select as there are many options.

                Option I - In and around pari chowk (Alpha / beta rates are not less than 45K per Sq meter)

                Option II - Upcoming Omnicron / Zeta (26-27 K per sq meter for a plot -32K - For Built up houses)

                Would you be able to throw some insight of yours.

                Regards,
                Prashant
                No worries dost.

                I had closed my deal in an under construction apartment around Pari Chowk area in GN in Dec. This is purely for our own stay without any investment consideration. We are absolutely OK with delays, more the delay, better for my cash flows.

                I will not reveal the details but I can say that it is one among NRI residency, Kings Park and Stellar Sigma. NRI city was out of my intended budget.

                Comment

                • #28

                  #28

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

                  Originally posted by MANOJa View Post
                  Quite agree to it & at most times, land/apartments ( the most tempting one's ) r picked by the Big & not so big Brokers themselves to make a killing later & some by the Big/small Sharks . The common man normally hears on the correction ( that it has come - take benefit from it... & LOL, it is over now ) . He hardly benefits from it ( until, he is very lucky, has ample of cash & is at the right place, at the right time ).
                  Yes Manojbhai, there is a very closed knit circle or cartel in RE market, who are very quick enough to snap all those so called distressed sale. It is not so easy to enter those circle ... bilkul bhai chara.... non members are not allowed. People who knows RE in depth are fully aware of such cartels... novice may not know all these details.

                  I tried very hard in 2008/9 to get a decent deal and I was not successful... and ended up buying similar property in mid 2010 at 600 psf higher price (not in NCR).

                  Comment

                  • #29

                    #29

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

                    Originally posted by ondabhai View Post
                    Price CRASH is a delicious subject... everyone love to discuss this. If you look at different sections like Pune, Mumbai, Chennai, you can find out many hot threads are running there and few are running for years... means expert predicted market crash few years back and we are still waiting and discussing ..)

                    Without going into details once again (as we discussed this in Noida section also many times).... just ask a very basic question

                    Will you be able to, daring enough to, equipped to, well connected to en cash a CRASH?

                    Whether you like it or not, the answer is NO for most of the people for different reasons.
                    Only few Smart, Daring, Deep pocket people make money in CRASH... anyway, those people make money in all seasons.
                    People like you and me keep on talking!! ... so enjoy discussing
                    Candid comments
                    I had asked a Q in 2010 that if price of RE crashes and comes down by 20-30% and if rental increase by 10-15% in 2011, what will u do, max responses said that they will still not buy and continue to rent. Hence the point is very clear. those who want to buy will buy any which way and those who dont want to buy will continue to comment and argue and keep waiting for the right opportunity.
                    MM

                    Comment

                    • #30

                      #30

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

                      Except for the media rhetorics, where are the signs of Realty Sector Slump?
                      In NCR, except for the NOIDA area, which is under distress because of the litigations and not because of so said slump, where are the prices going down?

                      If the prices are not the criteria, then just what is the criteria?

                      Please quote some distress sales by builders in Gurgaon to prove your point. Otherwise, there is no slump.
                      Last edited June 16 2011, 10:31 AM.

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