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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

    At least some people think different!

    Originally posted by ash7979 View Post
    Hey Wiseman,I was not expecting this from you man!!!You Mean that the ppls who belong to Bhopal & working in IT in NCR are buying flats both in NCR & then in Bhopal as well??? ...And by your logic ,then ONLY IT pps are the responsible for every Price rise in india be it IT city or Non-IT city & be it RE or Sugar or say petrol

    Well. At least some people think I'm not all gloom and doom!

    cheers

    Comment


    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Originally posted by ash7979 View Post
      Hey Wiseman,I was not expecting this from you man!!!You Mean that the ppls who belong to Bhopal & working in IT in NCR are buying flats both in NCR & then in Bhopal as well??? ...And by your logic ,then ONLY IT pps are the responsible for every Price rise in india be it IT city or Non-IT city & be it RE or Sugar or say petrol
      Well..price rise in other commodities can be explained as inflation..but RE especially in Pune is all the result of ITGs ..RE prices in pune cant be linked to inflation..its mere speculation and insanity..Adding to it is governments apathy to stop builders malpractices ..
      you talk to any builder and he will tell u the real truth..Make the ITGs 50% in strength and see the Pune RE will crash to more than 50% in value.. & its no imagination.,.

      Comment


      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by search4re View Post
        Well..price rise in other commodities can be explained as inflation..but RE especially in Pune is all the result of ITGs ..RE prices in pune cant be linked to inflation..its mere speculation and insanity..Adding to it is governments apathy to stop builders malpractices ..
        you talk to any builder and he will tell u the real truth..Make the ITGs 50% in strength and see the Pune RE will crash to more than 50% in value.. & its no imagination.,.
        Okay, I agree with you that ITgs are responsible for Pune RE price rise but could you please explain me that, then why Pune has largest unsold flat in entire country??? Why these ITgs are not buying all those flats ( I think you think that ITGs can buy at least 4 flats each)...
        Last edited by ash7979; February 7 2010, 10:49 PM.
        Cheers,
        -Ashish

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by search4re View Post
          you talk to any builder and he will tell u the real truth..Make the ITGs 50% in strength and see the Pune RE will crash to more than 50% in value.. & its no imagination.,.
          Yep, you move Hinjewadi out & the rates right from Aundh to Wakad & Wakad Annexe will fall. Same goes for K'nagar to Kharadi as well.
          Fact remains that ITGs had max. amount of disposable income & in many cases both husband & wife were from IT (seen some people having a pre-condition for marriage that the other half/quarter needs to be from IT), hence one fellow pays EMIs while other for daily needs.
          You will find that in recent times, ITGs used to marry ITGs (hey guys & gals...don't get wrong meaning man:p). I didn't see an architect marrying a builder though.
          If you are happy, you are successful.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Elaborate

            Originally posted by ash7979 View Post
            Okay, I agree with you that ITgs are responsible for Pune RE price rise but could you please explain me that, then why Pune has largest unsold flat in entire country??? Why these ITgs are not buying all those flats ( I think you think that one ITGs can buy at least 4flats each)...
            Man, it seems you didn't get the point. Let me elaborate.
            • Pune has max no. of unsold flats coz Bangalore became saturated & builders thought that Pune will be next Bangalore. Simply look at the proposals for Hinjewadi ph3/4......& see where do they stand today. Pune builders just like ITGs thought that incomes will always go up. What's more, it was only ITGs who was buying without infra as well, which made builders build anything at anyplace,
            • Why are ITGs not buying is simple:- They have now understood the value of money, thanks to global meltdown. Had this been not the case, rates at Wakad would have been 5k+ today!!
            Ashish, just because you took good decision of not buying RE at illogical rates doesn't mean that your colleagues too become wise. Don't consider that when we say ITG it is you, rather it is not you coz you are in minority my friend.
            If you are happy, you are successful.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Saw Kool Homes ad again in News Papers (ToI) after a long pause.

              Seems they are back in business at selling overpriced apartment.

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Originally posted by realacres View Post
                Yep, you move Hinjewadi out & the rates right from Aundh to Wakad & Wakad Annexe will fall. Same goes for K'nagar to Kharadi as well.
                Fact remains that ITGs had max. amount of disposable income & in many cases both husband & wife were from IT (seen some people having a pre-condition for marriage that the other half/quarter needs to be from IT), hence one fellow pays EMIs while other for daily needs.
                You will find that in recent times, ITGs used to marry ITGs (hey guys & gals...don't get wrong meaning man. I didn't see an architect marrying a builder though.
                Even ppls from other sectors has working partners (I mean Spouse) specially Banking...Fact is that ITGs has no way to earn B-Money, but that is there in every govt job...so a Clerk working in PMC earning 10K as Official salary might be earning 50K as Uppse ki Kamai...And this goes with every Departt...like PWD,Irrigation etc (you might have seen a recent news in TV that one IAS office in MP has raided & his net worth was whopping 300 Crs).... And I also admit that most of these Govt Babus dont spent their money on expensive Cars or in Malls (they can not as this is B-Money)..so where they spend this...Off course on RE...And as per most of ppls observation that ITGs spends max in Malls on Car etc (they can spend it Coz after all its all White money)....

                So, I must say the Rise in RE is not due to ITGs, but maybe IT...I mean ppls think that IT guys has Paise ka Ped in their Backyard & so pppls buy property from their B-Money & expect some Dump IT guys will buy in in double or triple price after say 2-3 years & when they dont get such Dumb IT guy then they do Whining....

                And still you think the Only IT guys in Pune are buying then, why you donyt reply to my previous question that As Pune has a large IT ppls, then why in Pune ONLY has max # of unsold RE inventory...its when we have not seen so many recent launches in last year & half
                Last edited by ash7979; February 7 2010, 10:50 PM.
                Cheers,
                -Ashish

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Price hike is collective responsibility. Pune got major IT investment in 2004-2007 period. Hinjewadi IT park was in place even before 2004. But during the above mentioned period, IT industry along with other industry kept doing well with good hikes/raises at the same investors probably found prospect in buying at Pune and selling off also settlers from Mumbai found interest in Pune(they had optimisim in government bodies in Pune, felt that new metropolitian city is in making and will be done by 2010:p). I know in 2005; while I was working in MP city, during december 2005; prices in MP city changed dramatically, on some day it was 1700 and in next week it was 2300...This led to sort of panic, so people in Pune booked apartments at their preferred locations. I see many of the projects in Hinjewadi are not pre-2005/2004. In fact what was there in Hinjewadi in 2003 (and what is there in Hinjewadi even now? Its one substandard mismanaged area jokingly called "IT park"). IT people do not have much access to B-money, their salaries are tracked and TDSed along with many of them do online transactions; the price hike during 2004-2007 led to panic mode which triggered hasty bookings by many of my engg. friends(not that they had enormous money to spend).

                  Also note that there are 3 times of IT guys
                  1. Who study in India and work in India - no onsite travel
                  2. Who study in India and go to onsite - live there in a very constrained environment to save money
                  3. who go abroad to study and work there for more than 5 years and come back to India (for their family); now these folks had much more money.

                  One cant blanketly blame single group. What is population of IT people in Pune?

                  There is subtle kind of media fascism that is on; which feeds wrong notion about people by showing rosy (or grim) pictures sometimes wary of realities. Many (non IT) people feel infosys, wipro and tcs are great payers in IT

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by realacres View Post
                    Man, it seems you didn't get the point. Let me elaborate.[LIST][*]Pune has max no. of unsold flats coz Bangalore became saturated & builders thought that Pune will be next Bangalore. Simply look at the proposals for Hinjewadi ph3/4......& see where do they stand today. Pune builders just like ITGs thought that incomes will always go up. What's more, it was only ITGs who was buying without infra as well, which made builders build anything at anyplace
                    This is the Point I was trying to prove dear & you said this by urself...its not ITGs but maybe perception of IT in builders & Investors mind created the RE rise...And for this image Blame the media, that publish in papers that all infosys employees are Crorepati (Due to Stock Options....and these Media ppls dont even know what stock options are all about & how many Infosys Employees has got those)....

                    ITGs are maybe 20% resposible for price rise, but this mindset that all IT ppls has "Piase ka ped " in their Backyard leads this RE price rise...so stop bashing ITGs....Its not personal...but this is the logical thing to do
                    Cheers,
                    -Ashish

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by ash7979
                      This is the Point I am trying to prove dear & you said this by urself...That its not ITGs but maybe perception of IT in builders & Investors mind created the RE rise...And for this image Blame the media, that publish in papers that all infosys employees are Crorepati (Due to Stock Options....and these Media ppls diont even know what stock options are all about)....


                      ITGs are maybe 20% resposible for price rise but this mindset that all IT ppls had Piase ka ped in their Backyard leads this RE price rise...so stop bashing ITGs....Its not personal...but this is the logical thing to do
                      How many "ITG" know about stock option?

                      Many companies show stock options as a part of CTC. So when a fresher gets 5 lac per annum salary ( for common man - include builders, sensationalistic media of "Shining India", investors, parents, college placement officers, students/freshers also - unaware of reality but only abstract information from here and there); in hand salary comes around 2.5 lac (without income tax cut)...which is on an average same as any other engineer.

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