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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 rovingeye View Post
    Yeah - but the money raised from existing projects were spent in acquiring land for the next projects - with the hope that those future projects will also find buyers. So, till new buyers keep buying, everything will be hunky dory - it always is in Ponzi schemes.

    if new buyers stop buying, the private equity guys will lend money to the builder...there are a handful of private equity guys who have raised funds and are now chasing builders to get attractive schemes for investment. This will further give holding power to the builder.

    Its only 4-5 years later when the PE wants to exit, will it realise that this investment is not generating returns. But who knows, by then the economic cycle would have turned around?

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Originally posted by rovingeye View Post
      I just hope, I'm not that last sane man who finally gets converted. I'm about to buy land in a small town in Maharashtra - Jalgaon. My mind is saying don't buy till 2015, but my heart is saying buy. I dont know who to listen to.

      See that region is not over hyped like the metros. These markets follow the big cities with a lag. Also, the properties are owned mainly by farmers, businessmen and industrialists; hence very little debt component. Typically, when a person buys with own money he tends to hold it for a longer period

      Also, in the current scenario no other investment avenue is available. IMHO if you intend to make a long term investment please go ahead and buy the property.

      One important rule for buying in non-metros is to ensure that you buy in the heart of the city. You might not get a chance to make exponential profits but atleast the investment will be less risky.If the prices in the periphery will increase,then the places in the heart land will definetly increase. if prices do not increase at all, it will be easy to exit the investment as the property will be in the centre of the city.

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by rembrants View Post
        See that region is not over hyped like the metros. These markets follow the big cities with a lag. Also, the properties are owned mainly by farmers, businessmen and industrialists; hence very little debt component. Typically, when a person buys with own money he tends to hold it for a longer period

        Also, in the current scenario no other investment avenue is available. IMHO if you intend to make a long term investment please go ahead and buy the property.

        One important rule for buying in non-metros is to ensure that you buy in the heart of the city. You might not get a chance to make exponential profits but atleast the investment will be less risky.If the prices in the periphery will increase,then the places in the heart land will definetly increase. if prices do not increase at all, it will be easy to exit the investment as the property will be in the centre of the city.
        Yep. Thanks for that suggestion. I'm thinking 10 years at least. I was looking for options on the highway. Will know whats available by Diwali.

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        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by rovingeye View Post
          I just hope, I'm not that last sane man who finally gets converted. I'm about to buy land in a small town in Maharashtra - Jalgaon. My mind is saying don't buy till 2015, but my heart is saying buy. I dont know who to listen to.
          It totally depends on the deal. No general rule exists, especially for land.

          sometimes someone has an insider info. in such case, profit is guaranteed, chahe jitna recession aa jaye.

          Sometimes you get a desperate deal. should not be missed.

          RE in small cities is not affected much by recessions, if at all.

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          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Originally posted by rembrants View Post
            See that region is not over hyped like the metros. These markets follow the big cities with a lag. Also, the properties are owned mainly by farmers, businessmen and industrialists; hence very little debt component. Typically, when a person buys with own money he tends to hold it for a longer period

            Also, in the current scenario no other investment avenue is available. IMHO if you intend to make a long term investment please go ahead and buy the property.

            One important rule for buying in non-metros is to ensure that you buy in the heart of the city. You might not get a chance to make exponential profits but atleast the investment will be less risky.If the prices in the periphery will increase,then the places in the heart land will definetly increase. if prices do not increase at all, it will be easy to exit the investment as the property will be in the centre of the city.
            Great advice, thanks for this.

            In recession times, same rule can be used in metros also as I learned in 2008 - when I failed to buy in central area
            Venky (Please read watch a or before posting)

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Jones Lang LaSalle India's Pune Real Estate Monitor July 2012

              Jones Lang LaSalle India's monthly snapshot of the Pune real estate market for July 2012.

              Pune Real Estate Monitor July 2012

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                8 yrs on, she possesses flat but not completion certificate; consumer court pulls up builder

                Hats off to this lady who fought with builder to get her right.

                Pune : The consumer court of Pune has directed a builder to issue completion certificates and conveyance deed to a flat owner who got the possession of her flat in 2004 but is still waiting for these documents.
                "The case is unique considering that most complainants move the consumer court against builders for monetary compensation relating to deficiencies in their flat, while non-issuance of completion certificate and conveyance deed are secondary issues. This case is an example for other flat owners whose builders have held back completion certificates and have not executed conveyance deeds even after giving possession of their flats," said advocate Dnyanraj Sant, secretary of Grahak Hitvardhini, a consumer rights’ organisation.

                Vrushali Ankush Badhe from Uruli Kanchan, around 35 kms from the city, had moved the Pune District Consumer Disputes Redressal Forum (consumer court) against Raskar Developers in Hadapsar on December 6, 2008. She stated in her complaint that she had received the possession of her flat in Yashraj Complex, Sasane Nagar near Hadapsar on February 17, 2004, but is yet to get the completion certificate from the builder and that he is yet to execute the conveyance deed, even after eight years of handing over the possession.

                "The builder has also not formed a residential cooperative society or condominium of the apartment, neither has he assessed the property tax for my flat," Badhe stated in her complaint, filed by her counsel advocate Sant.

                She prayed before the court to direct the builder to issue the completion certificate, execute conveyance deed, form a cooperative society or condominium of apartment and to assess property tax of her flat.

                Raskar builders, in their written defence before the consumer court bench of Forum president Anjali Deshmukh and Forum member S K Kapse, stated that despite filing for completion certificate in the Pune Municipal Corporation (PMC) in 2006, he is yet to get the same. "It is because the PMC is not issuing completion certificate that I am unable to form the cooperative society or execute the conveyance deed," he stated before the court. He had stated the same reason to Badhe when she had served a legal notice through Grahak Hirvardhini to him in 2006.

                The court refused to consider the argument. The consumer court bench stated that Raskar Builders had failed to show efforts taken to followup with the PMC/ documentary proofs to get the completion certificate. "It is the responsibility of the builder, promoter or developer to get the completion certificate, but no efforts are seen to be taken by the builder in the last eight years to get the same," the court stated.

                8 yrs on, she possesses flat but not completion certificate; consumer court pulls up builder - Express India
                If you are happy, you are successful.

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                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  His name should be changed to Rascal Developers

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                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by mangopeople View Post
                    His name should be changed to Rascal Developers
                    Good one aam .. or Raakshas builder can do as well

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by realacres View Post
                      Hats off to this lady who fought with builder to get her right.

                      Pune : The consumer court of Pune has directed a builder to issue completion certificates and conveyance deed to a flat owner who got the possession of her flat in 2004 but is still waiting for these documents.
                      "The case is unique considering that most complainants move the consumer court against builders for monetary compensation relating to deficiencies in their flat, while non-issuance of completion certificate and conveyance deed are secondary issues. This case is an example for other flat owners whose builders have held back completion certificates and have not executed conveyance deeds even after giving possession of their flats," said advocate Dnyanraj Sant, secretary of Grahak Hitvardhini, a consumer rights’ organisation.

                      Vrushali Ankush Badhe from Uruli Kanchan, around 35 kms from the city, had moved the Pune District Consumer Disputes Redressal Forum (consumer court) against Raskar Developers in Hadapsar on December 6, 2008. She stated in her complaint that she had received the possession of her flat in Yashraj Complex, Sasane Nagar near Hadapsar on February 17, 2004, but is yet to get the completion certificate from the builder and that he is yet to execute the conveyance deed, even after eight years of handing over the possession.

                      "The builder has also not formed a residential cooperative society or condominium of the apartment, neither has he assessed the property tax for my flat," Badhe stated in her complaint, filed by her counsel advocate Sant.

                      She prayed before the court to direct the builder to issue the completion certificate, execute conveyance deed, form a cooperative society or condominium of apartment and to assess property tax of her flat.

                      Raskar builders, in their written defence before the consumer court bench of Forum president Anjali Deshmukh and Forum member S K Kapse, stated that despite filing for completion certificate in the Pune Municipal Corporation (PMC) in 2006, he is yet to get the same. "It is because the PMC is not issuing completion certificate that I am unable to form the cooperative society or execute the conveyance deed," he stated before the court. He had stated the same reason to Badhe when she had served a legal notice through Grahak Hirvardhini to him in 2006.

                      The court refused to consider the argument. The consumer court bench stated that Raskar Builders had failed to show efforts taken to followup with the PMC/ documentary proofs to get the completion certificate. "It is the responsibility of the builder, promoter or developer to get the completion certificate, but no efforts are seen to be taken by the builder in the last eight years to get the same," the court stated.

                      8 yrs on, she possesses flat but not completion certificate; consumer court pulls up builder - Express India
                      RA,
                      Can you please help understand what could be benefit of withholding CC and not doing conveyance deed?

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