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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

    Buying a house? Look at the property price index

    http://www.livemint.com/2010/04/1921...he-pr.html?h=B
    If you are happy, you are successful.

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Lifts in buildings come under state govt scanner

      A informative news from IE:-

      Builder Atul Goel criticised the government’s plan to hold builders responsible for lift mishaps. “Builders outsource lift job. The equipment, the installation and the maintenance are looked after by manufacturers and they should be held responsible.”

      >> This means that builder will use crap equipment & then blame on the contractor. So, use crap material, increase profits & then if anything goes wrong, blame it on someone else.

      Read the news here:-

      http://www.expressindia.com/latest-n...canner/608690/
      If you are happy, you are successful.

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Civic body parking norms draw flak from builders

        See, the builders are taking big sums for parking area, yet they say that parking space should not be increased in residential projects. Maybe this is because they will loose their money on open car park (free for them), & they will have to invest more in covered parking as well.

        http://www.expressindia.com/latest-n...ilders/608686/
        If you are happy, you are successful.

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        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by realacres View Post
          A informative news from IE:-

          Builder Atul Goel criticised the government’s plan to hold builders responsible for lift mishaps. “Builders outsource lift job. The equipment, the installation and the maintenance are looked after by manufacturers and they should be held responsible.”

          >> This means that builder will use crap equipment & then blame on the contractor. So, use crap material, increase profits & then if anything goes wrong, blame it on someone else.
          How convenient is builders life in our country!

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Originally posted by RAJESHP View Post
            How convenient is builders life in our country!
            Life of rich, powerful and political people have always been convenient in India....

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            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Originally posted by realacres View Post
              First, many areas in Mumbai came up after drop in prices as high as 55%. In pune that dip hasn't yet happened & the rise which took place was artificial one. This can be seen even by the posts put up by members here who say that builders are ready to negotiate, change in their stand just about 2 months ago.

              Next, I don't think anyone will sell house used for self use & buy in Pune RE just because it is cheap. It is like saying Puneties will sell their houses & shift to Nashik. Personally, I would not have shifted from Mumbai to Pune if I had been a resident of Mumbai (already seen Mumbai people getting bored in Pune after about a month stay). Man, despite all the drawbacks, Mumbai has life & in no way can it beat any other city in India. You get all the things, good or bad, legal or illegal in Mumbai on your fingertips at good rates.
              You mean to say that mumbaikars have no reasons to be poor punekars. And the reasons you have cited are from your personal wishes and likings. It would be better if you could give more sound objective numbers. e.g in my office group out of 16 persons who are renting 4 of the owners are from Mumbai, 1 from bangalore and 2 from US. Even my sampling based investigations should give a more scientific support to 'Mumbaikars are keenly interested in Pune properties' than your just pooh poohing the idea based on your lifestyle based arguments. I personally feel Pune has higher RE prices than Bangalore/Noida/Hyderabad due to land holding patterns (this causes extra 500psf to overall price) and propensity of mumbaikars to invest in pune (this leads to atleast 250psf to overall pricing).

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              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Originally posted by mindguru View Post
                You mean to say that mumbaikars have no reasons to be poor punekars. And the reasons you have cited are from your personal wishes and likings. It would be better if you could give more sound objective numbers. e.g in my office group out of 16 persons who are renting 4 of the owners are from Mumbai, 1 from bangalore and 2 from US. Even my sampling based investigations should give a more scientific support to 'Mumbaikars are keenly interested in Pune properties' than your just pooh poohing the idea based on your lifestyle based arguments. I personally feel Pune has higher RE prices than Bangalore/Noida/Hyderabad due to land holding patterns (this causes extra 500psf to overall price) and propensity of mumbaikars to invest in pune (this leads to atleast 250psf to overall pricing).
                Anyone can become poor Punekars by buying RE here at illogical prices, & everyone is free to do so. The eg. which you gave was of your office & this may not be true as it is due to COMPULSION rather than volunteer. How many Mumbaities voluntarily want to settle in Pune giving away their plush homes in Mumbai? This is the question. People for work go & work in poor African countries as well but this doesn't mean that Indians like Africa more!!

                Next, those Mumbaikars who invested Pune were INVESTORS who planned to sell out once they get good profits (According to their benchmark). I have not seen a single Mumbaite who has invested in Pune & himself stays in Pune as well. The only Mumbaities I know who stay in Pune are retired people/pensioners. Those who came from Mumbai & settled down in Pune (those whom I know) came here for job (IT) & even today, they spend weekends in Mumbai.


                As far as reasons for high Pune RE vis a vis it's counterparts is concerned, I accept what you said. But the most important aspect is Pune isn't a STATE CAPITAL like B'lore, H'bad, Chennai, Kol'ta, yet commands high price, nor is it a Satellite city of Mumbai. The real probs are:-
                1. DP plan still not santioned even after decades &
                2. PBAP & heavy politicisation of RE,
                3. Absence of planning bodies like DDA, BDA etc. If PMRDA is formed, many probs would automatically vanish.
                If you are happy, you are successful.

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Originally posted by realacres View Post
                  1. Absence of planning bodies like DDA, BDA etc. If PMRDA is formed, many probs would automatically vanish.


                  surat urban development authority
                  lucknow development authority
                  ujjain development authority
                  agra development authority
                  bhubaneswar development authority
                  Bhopal development authority
                  cuttack development authority
                  ghaziabad development authority
                  greater noida development authority
                  haridwar development authority
                  indore development authority
                  jodhpur development authority
                  mohali development authority
                  mysore development authority
                  naya raipur development authority


                  and the list goes on .....

                  So Pune standing is so poor .....
                  or Governance is so old ......
                  Last edited by frugality; April 23 2010, 12:35 AM.

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                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    http://www.indianexpress.com/news/hyderabad-riots-fuelled-by-realtors-factfinding-tea

                    I know its deviation from the topic..but found this piece of information is eye opener...see at what disgusting level these builders are palying with mango man...

                    And again as usual...its from IE (they call it India Explaind!!!)...Not from some TOIlet paper.

                    http://www.indianexpress.com/news/hy...g-team/609537/

                    A fact-finding team comprising members of five city-based organisations has concluded that the March riots in Hyderabad began as a tiff between two communities but were turned into a full-scale riot by the real estate mafia to grab prime real estate. Attacks on religious places, houses and shops were pre-planned in order to scare residents away so their properties could be taken over, the committee said.


                    The team found that religious places were attacked and demolished by the real estate mafia between March 23 and 27.


                    “What started off as a tiff between the two communities over celebration of festivals was turned into a full-scale riot by real estate mafia. For the first time in the history of Hyderabad a number of religious places have been attacked and demolished and the real estate mafia is behind this. There is evidence that the mobs who carried out these attacks did not belong to Hyderabad, their language and appearance was also different. Even the stones that were used to pelt at religious places and houses were brought from outside,” Lateef Mohammed Khan, Secretary of Civil Liberties Monitoring Committee (CLMC), says.

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                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by mindguru View Post
                      I personally feel Pune has higher RE prices than Bangalore/Noida/Hyderabad due to land holding patterns (this causes extra 500psf to overall price) and propensity of mumbaikars to invest in pune (this leads to atleast 250psf to overall pricing).
                      Right. But there is one more major point: "Lack of transparency & competition amongst builder/developers".
                      What explains: "In spite of large inventories, Pune builders are still holding on to price?"

                      A friend of mine(from Mumbai) told me that 2 yrs back he had booked flat in OxygenValley,Manjri(Hadapsar) at 2500 psf with club-house charges of 50K. A month back he came to know that builder was selling below 2000 psf, club-house free.
                      Since builder is not ready to give same deal, he is canceling the agreement as taking possession means making loss.

                      Moral of the story is: "What goes up too-quickly without any rationale must come down".
                      The fact is that these days even owners do not get higher rents and flats are lying vacant for months
                      Last edited by hitmady; April 23 2010, 01:54 AM.

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