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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    Originally posted by Tangent View Post
    who is asking to buy at insane rates .. use your own discretion ...it has been established fact that buying at current level as investment is stupidty
    So what are we saying all long ??
    Anyways, point taken.

    my point is ppl who waited since 2009 are clearly at loss including many bears here
    And how do you judge ? Only on RE prices ? Do you know what sort of portfolio we maintain ? I can buy the flat where I stay on rent at drop of a hat but I won't as its not VFM. Btw, my portfolio gave much better returns than RE. Even those who put their money in RD & FD are enjoying, forget MF & stocks.

    then also consiedr if you are kicked out of your rented house in a day or two ? believe me it has happened.. so possibilities are endless .......
    4 years have passed & landlord has proposed to go for 36 months agreement next time. He asked even before, but I refused. But then, I won't be staying on rent for next 3 years or even 2 because RE prices are falling & come down further. Once it reaches logical price, I will buy, till then I am happy renting.
    Last edited by realacres; September 12 2014, 11:38 PM.
    If you are happy, you are successful.

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Originally posted by anirban8 View Post
      i recently bought an apartment in pune. By reading all your comments I think you people will call me a fool for this decision.
      bittuc123 has put well. So won't say same points again.
      And man, if you are not going to have 'fakir lifestyle' in other areas, don't bother.
      Just ensure that financially, you are sound & don't let home loan drag you down. If you do this, you are fine.
      Now enjoy your new house.
      Cheers.
      If you are happy, you are successful.

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by suryawork View Post
        The standard is normally 3 rent periods of 11 months(abt 3 years) to one tenant at 10% increase yearly . When you shift after 3 years you can negotiate to a lower rent . I know several people who do this including myself . What is wrong from LAW perspective here ?
        +1. This is actually logic used by RE bulls to scare people & making them think that buying alone will offer you roof on head, else you end up on footpath.

        There are lot of people today who rent out their own flat and rent in close to work .
        It is realistic - Avoid commute , raise children in good schools and neighbourhoods .
        +1.

        More unrealistic is this scenario - Commute from Wagholi(because someone bought a rowhouse cheap there sometime ago without water and other daily facilities) to Hinjewadi - abt 3 hours up/down - The time spent on this would have been more fruitful to family , work and the most important asset of all - health - cost of which that someone will probably regain by saling the rowhouse
        Man, this 3 hrs up & down are worth, staying in PROPOSED INFRA, DP ROADS is also fine. Don't you know renting will put your family on footpath or some aashram ?? To avoid this, one should always buy.

        Btw, I wonder why most of the branches of banks are itself rented ?? So are ATMs ? Next time I will tell my bank's manager, buy this property, else the owner will throw all bankers out.
        If you are happy, you are successful.

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        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by pune_friend View Post
          11 months is too short a period. It does not help tenant.

          Apart from finding good tenant in time, it is not economically good for you too. Flat needs to be painted before renting out to new person. If you change tenant every 11 months, it can cost anywhere near 30k (2 bhk) or so every time.

          If tenant occupies flat for at least 2 to 3 years, it works out good for both parties.

          With several flats, you may want to consider this. Are you in IT ?
          30K seems too steep? For just paint?

          Originally posted by Sj2013 View Post
          When I put my flat on rent my initial deal was 10.5K per month in 2010 in wakad. Then I asked him for Rs 500 rise in rent means (11K per month) for doing re-painting which he agreed. I given him a brand new battery as well because I never planned the tenant living more than 1 year. The total expenses which I did was automatically got shared by the tenant (partly).
          5000 Rs for paint seems more likely.

          What battery? Invertor?
          Venky (Please read watch a or before posting)

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          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Originally posted by Venkytalks View Post
            30K seems too steep? For just paint?



            5000 Rs for paint seems more likely.

            What battery? Invertor?
            If the paint is luster and full painting process is followed i.e. scratch all existing paint , fill cracks(with lambi) , apply primer , then 2-3 paint coats - then it'll cost 30k for standard 2 bhk which is is adequate for 10 years at least .
            However for renting purposes , most owners will repaint every 3 years using distemper and a substandard painting process . Paint should cost abt 4K(40L of distemper) + labour .
            Last edited by suryawork; September 13 2014, 11:40 AM.

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            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Some of the recent posts are hilarious although with a lot of exaggeration from both sides .

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              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                China will initially invest $7 billion in industrial parks in Pune and Gandhinagar. "The Pune industrial park — spread across 5 square kilometres with an investment of $5 billion — will be for automobiles that will employ one lakh people and manufacture 1.5 lakh speciality vehicles.
                China to invest $100 billion in India over 5 years - The Times of India

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                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Originally posted by vlokras1 View Post
                  China will initially invest $7 billion in industrial parks in Pune and Gandhinagar. "The Pune industrial park — spread across 5 square kilometres with an investment of $5 billion — will be for automobiles that will employ one lakh people and manufacture 1.5 lakh speciality vehicles.
                  China to invest $100 billion in India over 5 years - The Times of India
                  where is this "Industrial Park"..?

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                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by suryawork View Post
                    If the paint is luster and full painting process is followed i.e. scratch all existing paint , fill cracks(with lambi) , apply primer , then 2-3 paint coats - then it'll cost 30k for standard 2 bhk which is is adequate for 10 years at least.
                    However for renting purposes , most owners will repaint every 3 years using distemper and a substandard painting process.
                    Thanks for pitching in. yes it is for full process for good quality. Note that labour costs have been rising with sq rates and inflation.

                    Not sure it will last for 10 years. It may work if self occupied. But new tenant always looks forward to a white wash at the least. I just wanted to highlight the need for repaint every time vs good paint and a tenant for longer duration assuming you got a good one. It is peace of mind. People often discount this aspect, especially if they delegate to agent.

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                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by pune_friend View Post
                      Thanks for pitching in. yes it is for full process for good quality. Note that labour costs have been rising with sq rates and inflation.

                      Not sure it will last for 10 years. It may work if self occupied. But new tenant always looks forward to a white wash at the least. I just wanted to highlight the need for repaint every time vs good paint and a tenant for longer duration assuming you got a good one. It is peace of mind. People often discount this aspect, especially if they delegate to agent.
                      Paint regardless of quality texture and colour gets too dirty in 2 to 3 years.

                      My 3BHK home got a 70K paint job recently.

                      Rental flats i doubt will ever get such treatment.
                      Venky (Please read watch a or before posting)

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