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what makes you think property rates will be down?

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what makes you think property rates will be down?

Last updated: April 12 2013
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  • #61

    #61

    Re : what makes you think property rates will be down?

    But real.. the question is will it result in drop in price.. I suspect not unless the the situation drags on for couple of years..
    A Gera and a Marvel hold on to price.. but slow down the construction because he does not have the money.. People who have already invested are stuck.. He does not openly offer a price reduction (group discounts will be there) .. but me as an individual buyer.. he might offer to reduce the parking cost.. or good price at his new phase that is yet to be launched, has frebies thrown in, but will not give me the huge discount the property has taken..
    New projects get launched in the area at huge discounts.. but I am nervous to invest there because of the uncertainty of the project and the financial situation.. and my budget also has shrunk.. because of the inflation and bank loan interest hike..
    As a common man.. I keep chasing the end of the rainbow..


    Originally posted by realacres View Post
    Pune is already over-built in terms of residential spaces. The current inventory itself is sufficient for the end users, so I don't think that stoppage of new constro will lead to shortage. Simply look at Kharadi, Wakad, Baner, Undri.....you will find several projects still selling for past couple of years atleast, not to forget the resales.

    Someone said that VAscon-Clover is sold out at Kharadi, but man, there is Gera, Yin Yang, Marvel etc. at these places which are yet to be sold out. Most of the current sales I believe is taken by speculators without doing the agreement. Always remember BR as case study....everything was sold out in first 3 days, yet they are offering group discounts, Nanded CIty was to launch ph2 in Dec 09, the registrations of ph1 are yet to start!!

    So, don't believe what the builders say, it is just to push their ph2,3,4,5......harder & faster.

    Coming to RBI, the hike in interest rates will be across the spectrum & not just home loan. So, a person who already has car loan, personal loan etc. will be already paying more before he applies for home loan. The situation for these buyers will be more grim as they will be hit by multiple loan EMIs hike.

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    • #62

      #62

      Re : what makes you think property rates will be down?

      Originally posted by Sharpj View Post
      But real.. the question is will it result in drop in price.. I suspect not unless the the situation drags on for couple of years..
      A Gera and a Marvel hold on to price.. but slow down the construction because he does not have the money..
      Gera has drastically reduced prices...check with aditi or Sansei as they are tracking this area better.
      New projects get launched in the area at huge discounts.. but I am nervous to invest there because of the uncertainty of the project and the financial situation.. and my budget also has shrunk.. because of the inflation and bank loan interest hike..
      Correct. No point in putting money when you are not assured about delivery, nor is there any point in over-leveraging yourself.
      As a common man.. I keep chasing the end of the rainbow..
      This the sole reason for getting sad:- Chasing something. Yes, goals need to be there but you should also enjoy the journey man. Set up an action plan, the simplest thing would be to start saving & then when you accumulate enough wealth, make this downpayment & buy with ease. Save & go to trip with your family to Bahamas or just a drive down Mumbai-Goa highway, enjoy life. If this is done, the rainbow will come chasing you.

      Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
      Everything has a time, when it will come, it will change everything, trust me, self experience.
      If you are happy, you are successful.

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      • #63

        #63

        Re : what makes you think property rates will be down?

        Originally posted by realacres View Post
        Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
        Everything has a time, when it will come, it will change everything, trust me, self experience.
        Good one
        Venky (Please read watch a or before posting)

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        • #64

          #64

          Re : what makes you think property rates will be down?

          We all live in hope.. Tomorrow is getting better than today..
          It is actually maybe....except the gap between the scorpio chap and me.. is getting wider..
          I enjoy life.. and doing good.. contrary to what the post suggests..

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          • #65

            #65

            Re : what makes you think property rates will be down?

            Originally posted by realacres View Post
            Man, try holding sand tightly in your hand...the tighter you hold, the faster it will slip away...hope you got the point .
            Everything has a time, when it will come, it will change everything, trust me, self experience.
            I tend to agree with real most of the times
            Planning too much (holding sand) in life kills the fun. I see people cutting on fun/quality as soon as they get home-loan.
            Fun comes, when you enjoy life daily and not planing to enjoy after 5-10-15 years.
            Last edited by hitmady; August 1 2010, 08:47 PM.

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            • #66

              #66

              Re : what makes you think property rates will be down?

              RA, you got my message you not replying these days, have I bothered you enough with questions and suggestions regarding many projects

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              • #67

                #67

                Re : what makes you think property rates will be down?

                Yes, but how long will they survive ? If we enjoy our life properly, we can certainly outlive them. Also do remember that their kids are THE most dumb people as they didn't get good education or parental care. So overall it may seem they are in a better position, but that is an illusion.

                So enjoy life and live it to the fullest, without bothering about RE or self-owned home.

                Anyway it's a curse to own a RE in city, with all the traffic, pollution, water cuts etc. Stay rental, move out to new areas, where things are pretty well planned in the initial stages before it starts crowding again.

                Better still to own a property on outskirt villages, where you can go for a weekend outing. That will appreciate more than city RE and it will be quite affordable.

                Originally posted by Sharpj View Post
                We all live in hope.. Tomorrow is getting better than today..
                It is actually maybe....except the gap between the scorpio chap and me.. is getting wider..
                I enjoy life.. and doing good.. contrary to what the post suggests..

                Comment

                • #68

                  #68

                  Re : what makes you think property rates will be down?

                  Originally posted by puser View Post
                  RA, you got my message you not replying these days, have I bothered you enough with questions and suggestions regarding many projects
                  Yep, I did get your message & couldn't reply as I was out of town & pm is the one which requires answers based on individual rather than general. Check your pm box now.

                  mady & mymarji,
                  +1 to your posts. People tend to forget that RE is part of life & not life. There are multiple areas to park your money at rather than paying it for crap flats without proper infra & constro quality. I know a person who has a flat in Bandra & stays on rent in Pune. His family (especially the women) are happy that they OWN some house, & he is happy as he rents in Pune, so saves a lot + Bandra house rent pays off his Pune rent + some money as well.

                  Had I been in Bangalore, I would have been doing interior work now!!

                  * PS:- This Bandra fellow will finally settle in Mumbai, hence it made sense to buy at good levels there.
                  If you are happy, you are successful.

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                  • #69

                    #69

                    Re : what makes you think property rates will be down?

                    This makes me think property will be down...

                    With thanks from outlookmoney.com...
                    http://money.outlookindia.com/article.aspx?266322

                    More discerning consumers. In the last 8-9 months, as the prices shot up, demand fell. In fact, apartment registrations in Mumbai in May 2010 were down 25 per cent from the previous month. “The volumes that we saw in October-November 2009 have shrunk,” says Pranay Vakil, chairman, Knight Frank India, a realty consulting firm. Though there is a huge inventory at the developers’ end, they are still increasing prices. This has a lot to do with the fact that they have several initial public offers (IPOs) lined up. Some experts have already started speaking of a bubble in the market. Most believe that, going forward, prices will not increase the way they did recently. “The prices have gone up too high in a small time and salaries have not moved up accordingly. Inflation is also high. So, it’s only a couple of years from now that people will be able to buy a house. In fact, the next peak is expected to happen in 2013,” says DTZ’s Jain. “As a result, rentals in residential property will improve,” says Anuj Puri, chairman & country head, Jones Lang LaSalle Meghraj, a realty consulting firm.

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                    • #70

                      #70

                      Re : what makes you think property rates will be down?

                      One more good thread for discussion.

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