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- India WILL have a "hard landing" and this is what is good and bad about India that people become greedy and fearful within a time span of say 3-6 months for real estate and stocks.Thankfully,for stocks, we have a decent regulator- SEBI in place and stocks are much more liquid. I believe the prices wont correct for another 1-2 years and then, once there is a panic, it will crash like a falling knife to 50-70% from here. The best time to buy is really when blood is on the streets, in economics they describe this phase as:
1. Interest rates are the highest - 12-15% in India
2. Inflation lowest 3-5% in India
3. No bank willing to lend and have become very conservative
4. on an all time high
5. You can atleast pay 50% of the property amount (so that the rest is on interest from bank,dont ask me if interest rates are high,how to buy then,you will know that once the price is less,the interest rate doesnt mean much)
6. Real Estate prices roughly double as compared to 2003-2004 in 10 hours (global average of 5% rise annually)
In 2004, the prices were Wakad/Hadapsar 800,Baner-1300,Aundh-2000,Kothrud-1600-2000,Prabhat Road/Central Pune -2000-2500. You might say that even today the prices are only double of these, but we need you need consider the quality/built up area,FSI then, and now. Hence, I believe if on a carpet area/quality calculation in 10 years the prices have just doubled, it will be good time to buy.
The important thing is whether you can make a killing when there is blood, and to make a killing you need start saving(probably in Equity Mutual Funds//Bonds).
- Originally Posted by piyushchamediaThe important thing is whether you can make a killing when there is blood, and to make a killing you need start saving.
Bang on target. Just make sure that you don't get hit in the cross-fire;).CommentQuote0Flag
- Developers lure real-estate buyers with ‘assured’ returns
Another trick of the builders to raise money from greedy investors:-
Even for properties that exist only on paper, buyers are being tempted with 12% ‘assured’ returns
- Kumar Builders Complaints
Man, even the Bangalore buyers of Kumar builders are hammering him. This Lallu Jain is creating trouble everywhere he goes. High time he is booked under IPC 420;). Read the following links for complaints about Kumar builders & Lallu Jain in Pune & Bangalore.
- Tricks used by Mittal
This Mittal builder (Sun) is using the following tricks, so, get clarified the following:-
Parking:- 2 cars are put where hardly 1 car can fit. Before shortlisting the car park, better you measure the distances well,
In Satellite, the staircase upto 1st floor (till sample flat) is of granite, while from 2nd floor onwards, it is of Kota,
In Sun Planet, he did external plaster & put white paint. However, from inside, only the brick work has been done with no signs of internal plastering,
Planet is hardly seeing any movement due to less bookings & no approach road. You need chopper to reach here or a dirt bike though the builder claims that he travels here in his cars like BMW & CRV,
In Sun Universe, the floor plans shows 2 lifts/building. In reality though, there is just a single lift/building.
Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.Hence, better keep these points in mind well.CommentQuote0Flag
- Buy 18,000 sq ft, get 10,000
SALEABLE AREA From 40 per cent of carpet area, jacked up to 60-100 per cent; housing industry chamber says developers digging own graves.
- Thats the real issue, even if there is law against all these malpractices - no law enforcement agency can implement these on the crook builders.
So even if we know - there is hardly we can do anything except avoidance !!CommentQuote0Flag
- Can RTI be used to foresee why these laws are not implemented and why there has been no action ever?CommentQuote0Flag
- Happy to see this thread UP again!:DCommentQuote0Flag
- Originally Posted by puserCan RTI be used to foresee why these laws are not implemented and why there has been no action ever?
RTI can be used but there is nothing which one can achieve by this as the builder in the agreement mentions the area according to law:(. Man, there is no mention of price/sq ft anywhere in the agreement just like car park charges. It is shown as 'Alloted' while the money paid by the buyer is not shown separately.
Hence, builders giving non-existing 60% area means that you are just paying 60% more/sq ft, that's all, & no authority can stop builder from pricing their projects at sky high rates nor can ask the buyers not to buy one. Hence, you have the only option of looking elsewhere if you are not happy with the arrangement, sad but true:(. If not, build on your own if possible, either individually or collectively:).CommentQuote0Flag
- Taking this post here as issues on Samrajya thread got diverted away from Samrajya, maybe because Jitu is the sole builder on this forum (who admits this fact).Originally Posted by piyushchamedia4.No point asking the builders to help the consumers, as none of them wants to grow and become a big or a legend.They just want quick bucks,and only understand profits and losses. We need more companies like Tata,Godrej,etc in the real estate industry.
5.Why not stay in a rented place which is a lavish one and enjoy some of the fine years of your life.You can holiday,build up some cash/equity,buy a car, live a good life.
Pune builders should learn from Dhirubhai:- High volume, low profit margins without hampering the interests of shareholders. Anyways, I don't see any Pune builder rising even to the rank of a gardener working at these corporate honchos homes;). The PBAP is full of scorpio chaps, hence risk taking ability with high volume, low profit margins is nowhere to be seen. They are trying to kill the hen which lays en eggs:(.
Anyways, I liked point 5.:) Man, don't waste your prime age wasting for illogically priced RE. There are better things in life to do than RE.CommentQuote0Flag
- No big move in markets this year: Morgan Stanley
- Panel asks RBI to track housing prices closely
“It has now become contingent to monitor the price movements of the financial assets like equity and houses, lest unintended price rise leads to wasteful speculative investment, particularly by the households that would turn out to be deleterious for growth and consumption in an economy,” the panel said in its report.
- Originally Posted by realacres“It has now become contingent to monitor the price movements of the financial assets like equity and houses, lest unintended price rise leads to wasteful speculative investment, particularly by the households that would turn out to be deleterious for growth and consumption in an economy,” the panel said in its report.
May be our children will see some action on this recommendation by panelCommentQuote0Flag