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- No demand for houses, but prices hit an all-time high - The Economic Times
it looks like a deliberate strategy of builders.......to keep jacking up prices and enroll fools if any.....even if they don't sell much and have to bring down prices they would be to current levels where they will make hefty profits...
buyers will be happy with price correction and builders happy by applying age old strategy
first double the price then give 50% discount:bab (34):CommentQuote0Flag
Check out the land prices at the following areas:-
1.) Behind pashankar auto, Pashan (Baner),
2.) Spine road, Chikhali, PCMC,
3.) NDA road, Bavdhan,
4.) Near Bajaj School, off Telco road, PCMC.CommentQuote0Flag
- KUL Again Going Bankrupt
Now, here is news about Pune builder, KUL, earlier called as Kumar Builders.
This builder needs to repay over INR 400 Cr in debt & as banks are not financing, IPO is in cold storage, Kumar Builders is selling 26% stake in each project to those who will invest as PE & lend money to KUL :bab (34):.
Man, I would be very skeptical to buy in a project of a builder who himself is begging around for money....wonder how did this fellow Lallu Jain became head of CREDAI....anyways, this organization too is junk like most Pune builders:D.
This is a classic case of over-leverage & greed on account of builders. There are several other builders in the city who are facing liquidity crunch, it is just that the exact figs. are not out of now. Will keep you all updated in this regard.
RE bulls, now what's your take on such reports ??CommentQuote0Flag
- still need to wait ...Originally Posted by kingmanishit looks like a deliberate strategy of builders.......to keep jacking up prices and enroll fools if any.....even if they don't sell much and have to bring down prices they would be to current levels where they will make hefty profits...
buyers will be happy with price correction and builders happy by applying age old strategy
first double the price then give 50% discount:bab (34):
Your point is very valid.. the prices are hiked tremendously in last few years. Now in this correction .. even if builder get back to their one year old price it will still be good for them.. this is the only chance for us to get less price. :(
I have enquired about BlueRidgehinjewadi scheme on this weekend and got to know that 2 BHK 1100 sq ft flat cost 54 lakh and 3 BHK 1490/1450 sq ft flat costs 67 lakh. I have just casually asked whether this rate is negotiable.. the answer was biggg NO.
I would like to check with same person after six month for negotiation. :bab (35):
BTW the BLISS project in wakad .. the sales person was ready for negotiation... at least some good sign.. although I dont like wakad areaCommentQuote0Flag
Ever heard about a paphlet written by Thomas Paine called "common sense"? He had written: "It is absurd for an island to rule a continent". There must have been a rajtjrll then who would have told that what he wrote was "big-s**t of WORDS, without any facts!!!".. Tch..Tch.. America is a reality now. Reading is painful, I know. But before opening mouth, read some history !CommentQuote0Flag
- KUL has claimed to have sold 150 flats in their new project in Mhalunge. I got a mail from KUL which puts a 3 bed for 65L. One might think KUL is crazy but I've seen people crazy in 2005 and now again in 2011, specially in Pune. In Mumbai nobody can afford to buy anything barring a fraction so I'm seeing Mumbaikars flocking to west Pune by dozens.
All builders are over leveraged so just harping about KUL's bankruptcy for over 2 years is helpful to no one. One has to accept the fact the real estate is a builder-politician business and has been as long as India has been independent.CommentQuote0Flag
- Interesting link for how NCP was formed and how they got support in the first place... it wasn't loyalty to Pawar but the loyalty to the 'M' vitamin..
?????????? ?????? ?????? ??????-????? -??????????-Maharashtra Times
it also explains how the politicians steal people's money in broad daylight and how it also is used for pure politics!!
Good decision by RBI to curb this bank.CommentQuote0Flag
- Real Estate Bill............
The law ministry is expected to give its opinion by the end of this month. The concept of a real estate Bill has been around in the government for almost 10 years now, and a draft Bill has been in the making for well over two years.
The disclosures must be made before launching any project, so that consumers are not taken for a ride at a later stage. Also, developers have to register themselves with the regulatory authority.
Real estate draft Bill revised to make it a central legislationCommentQuote0Flag
- SBI Hiked interest rate by 0.75% .....
The country’s largest bank, State Bank of India (SBI) has hiked lending rates by 75 basis points. SBI’s base rate (minimum rate at which it lends) will be 9.25 per cent and benchmark prime lending rate (BPLR) will be at 14 per cent. Deposit rate hiked by 75-225 basis points. These rates are effective from May 12.
Interest rates have been revised after RBI’s recent hike in key policy rates by 50 basis points on May 3.
Home loan rates will be hiked in the range of 10.25- 11 per cent depending upon loan amount.
SBI loans to be costlier as it hikes lending rates by 75bps | mydigitalfc.comCommentQuote0Flag
- Originally Posted by BearORBullI have enquired about BlueRidgehinjewadi scheme on this weekend and got to know that 2 BHK 1100 sq ft flat cost 54 lakh and 3 BHK 1490/1450 sq ft flat costs 67 lakh. I have just casually asked whether this rate is negotiable.. the answer was biggg NO.
Paranjape has a habit of saying NO initially & then opening up for nego later. I say this from my experience with Crystal Garden, Baner-Pashan link rd.BTW the BLISS project in wakad .. the sales person was ready for negotiation... at least some good sign.. although I dont like wakad area
There are 2 more to the list now in Wakad:-
Horizons & Latitude.
Not interested in Wakad, just like you so didn't bother to go to their office for negotiations.CommentQuote0Flag
- Now, boundary wall of Nyati Meadows collapses
Man, it was not even 2 months since Nyati's balcony collapsed & now the compound wall of the project has collapsed .
A portion of the boundary wall of Nyati Meadows residential complex collapsed late on Sunday night, spreading panic among society members. The upmarket society, which grabbed headlines when a balcony of one of its buildings collapsed in March, is located in Wadgaonsheri and has 318 flats in a total 11 buildings.
D Agarwal, a resident of the society, said, “A 20-feet portion of the wall crashed down because of poor material and workmanship. Fortunately, the wall fell down towards the other side where there is open land. It could have been fatal if people were staying at the other end.
Read the complete story & see the pic here:-
Now, boundary wall of Nyati Meadows collapses, News - City - Pune Mirror,Pune Mirror
I always wonder how do people spend their lacs on such junk projects ??:bab (38)::bab (38):CommentQuote0Flag
- Originally Posted by realacres
I always wonder how do people spend their lacs on such junk projects ??:bab (38)::bab (38):
Be'z every tom-dick and harry (read bakras) feels RE is gold-mine. I have seen people desperately buy RE without checking quality, location, terms & conditions as if Warren-Buffet is going to snap the same next day :DCommentQuote0Flag
- Originally Posted by realacresMan, it was not even 2 months since Nyati's balcony collapsed & now the compound wall of the project has collapsed .
How can a compound collapse! There are no engineering marvels involved as in hanging bridges. It is just a series of bricks put on top of each other. This is not a rainy season either. How can it happen?
Next time we will hear that the persons on 4th floor will fall on heads of 3rd floor people, because 'A lot of water seeping from the bathroom has weakened the floor further!'
Realacres, thanks for sharing the news. I remember you liking some project because of its gothic look. Forgot its name. Was it of Nyati? Remember some guy was asking opinions for a resale flat there?CommentQuote0Flag
- A post I made elsewhere:
Real estate is hoarded by blackmarketeers (builders, investors, common people with multiple flats).
So there is no supply. Demand in India is neverending.
Supply and demand works in market, not in black market.
As for PE for RE in India, it has always oscillated between 25 and 60. If you know your stocks, then you will know that some stocks always trade at PE of 40 - some sectors always trade at PE of 30 - and some other sectors always trade at 5-10.
You need to know your sector PE and invest accordingly. Current RE PE is about 60 in Delhi.
RE is likely to stay static for at least 4 years - unless there is massive inflation and Rupee depreciation (currently it is appreciating).
In normal conditions, in 4 years, rents are likely to rise a lot to make the current prices seem reasonable.
Still, better to buy at PE of 30 rather than fail to perfectly time it at 25 and be left with nothing.
But expecting PE of 15 to 20 for RE is just ignorance talkingCommentQuote0Flag