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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

    Diverge

    Would diverge from Wise one. Here in Pune, now u cannot get any land in the city central areas.

    The land prices are way above any one can afford. Now even bldrs themselves who r the cause of it, cannot afford the prices. So u see a lot of partnership, and development deals here than any where else perhaps.

    All the lands even in out skirts of the city are bought and fenced. U find Big cars in the surrounding villages, who do not know to drive them. The Scorpio people heard somewhere o n the net.

    Now if Land prices r astronomical, how would the flat prices come down from the current price ( Fair price? ), unless the bldr is on tenter hooks.

    Yes Real, not only Govt is dis-incentivising property buys - New Tax Code; but the property tax ,vacancy tax are other proposals heard to prevent hoarding of property especially after the repeal of ULCA, and presence of heavy industrial power houses here.

    Unless the flats are heavily leveraged with excess FSI, and prices; dont see them coming to 1200 psf even in out skirts.

    Comment


    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Are your freehold property papers in order?

      Though the following link talks about Delhi, most of it is applicable here too.

      http://epaper.hindustantimes.com/Art...&kword=&mode=1
      If you are happy, you are successful.

      Comment


      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Invitation.

        Hello friends,

        I got a invitation for discussions on RE. I won't be able to attend these as the dates are not suitable. Forwarding it here; if anyone interested, please do visit.

        The direct link is:-

        http://www.girem.in/delegates.html

        Regards,

        Realacres
        If you are happy, you are successful.

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Election woes

          Man,

          the election mania is on us. The Govt + opp parties are in a sanction / dreaming drive.

          With the model code of conduct to be enforced in a day or two : lots of catchin up to do

          1. SEZ/ MIDC? at Wagholi scrapped.

          2. MERC electricity rate rise order on hold.


          3. Merging of police areas rural with urban in fringe villages order on suspension woes.

          4. Low cost houses for slum dwellers / low income group first batch handed over symbolically by PCMC ( Opp party ).

          5. Tightening of MOFA act. Bldrs can now face a ban upto five years if convicted by courts.Society formation period reduced from 4 to 2 months after handing over peoperty in project. etc etc.


          The unofficial part will start with the propoganda war. Funding of these election ventures. Wait and watch for part II.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Precautions to be taken before signing dotted line.

            1.) Definite Price Must Be Fixed on Paper:-

            In some clauses, it is written that the prices may change for any additional amenities, unseen calamities, etc. Make sure no such words are included.
            Tricky words:- Alter, tentatively.

            2.) Clear Deadline on Paper A MUST:-

            The date of possession has to be precise on the agreement & a penalty clause suitable for buyer (discuss this with your attorney) should be included.
            Tricky Words/Phrases:- Tentatively, approximate, At option of timely delivery.

            3.) Sale/Conveyance Deed:-

            Make sure that you get a draft copy sanctioned from your attorney & get it modified if required. No ifs & buts should be in an agreement.

            While signing the final deed, make sure that the original copy is exactly similar to that of draft copy you handed to builder. In some cases, I have observed that buyers sign blindly the final agreement thinking that it is same as that of draft copy.

            Tricks of builders:- Calling you at 11th hour at registration office, asking you to hurry up coz there are many no. of people waiting, if late today next appointment is hard to get, lawyer has to attend some other case etc.

            No matter what, make a point to reach the registration office atleast 40 mins earlier & thoroughly go through the final sale deed & ensure that all the demands incorporated in the draft have been met.

            These small steps ensure you have peace of mind. Now decide whether you want your mind to be in peace or in pieces.
            If you are happy, you are successful.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Originally posted by wiseman View Post
              Realacres,

              You have taken this post from an article about American housing and done some cut-n-paste, no? Okay, don't take that seriously

              That said, most points here are valid for India too. But some are not.

              1. RE in the US has risen by an inflation-adjusted 1% only over the last 100 years. Which is why Warren Buffet said what he did. Indian RE has a slightly higher inflation-adjusted number. Btw, this is not too high, because, you will note that, in the 70s and 80s (when you got it real cheap) inflation rates were well in the double-digits and would have had a big damping effect on the inflation-adjusted rate of increase.

              2. About the savings part as well as about the wife!

              Unfortunately, most Indians (like most Americans) do not save in any other way than via RE, which is a forced saving. Unfortunately, this is the truth.

              And yes, most wives will seriously contemplate a divorce if the husband has not bought a home by the time he is 40 AND he does not have much in savings. Unfortunately, this is also true in today's India!!!

              But most of the rest of the post is equally applicable to India. And I commend you to have taken the time to put in this exhaustive list. Very informative and instructional!!!

              cheers
              " most wives will seriously contemplate a divorce if the husband has not bought a home by the time he is 40 AND he does not have much in savings."

              This is non sense of the highest degree I heard in this forum.

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Realty Overstretch

                http://epaper.indianexpress.com/IE/I...6.shtml?Mode=1
                If you are happy, you are successful.

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  i hd seen many builders dont even give draft copy of agreement to read or show to legal advisor. beware from such builders.

                  sam...

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Bad Economics

                    Thats precisely whats happening in majority of sectors not only in RE as mentioned in the article.

                    The good eco sense would have been to deal with the situation squarely and finish all projects paid for, scaling down new projects, liquidating bad asset/ non performing asset, rather than sit on it and wait for things to improve.

                    The bldr lobby is particularly criminal in so far at one end they keep on buying land with out fulfilling their commitments to customers booked in their already delayed projects.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      What next would happen is that they will start asking for the relief from government..!!!!

                      In the name of employment of the poor labrours!!!!

                      Bl**dy...$RE#R...

                      CRIMINALS... BLOOD SUCKING PARACITES!!!!

                      Comment

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