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- Interesting facts
I think the RE sector is over due for correction . Now that there is nothing in budget the prices need to come down .
I have been a resident of Pune but was in other parts of India for past few years .Have seen that RE sector in Pune has gone up like anything . Eg Flats which were avlbl 1800 psf in 2004 begining in areas like Ideal Colony and Mayur Colony now quote at 8000 psf .This is absurd, do not think the rates for RE in Pune have increased so much ever in last 50/100 years. An auto charges 500/- for coming from Aundh to Pimpri . Whereas a Mumbai Pune trip by Volvo wud cost Rs 275/- only .
Sorry to say this but it is we who spoiled everyone and now why are we cursing the smart builders who have mushroomed in every nook and corner to take us for Joy ride.CommentQuote0Flag
- comfort zone baner
has naybody booked in comfort zone baner recently.
just want to know the rate/sq ft.Originally Posted by shekhar7It was widely speculated that,
Budget will have some perks for Realty ..as well as for IT..
but Mr. FM, has given a kick in back for both..
does that mean, all hoopla related to price goin up in Realty will be over??CommentQuote0Flag
- No mention of the increase in benefit from home loan from 1.5 to 2--2.5 lacs either.CommentQuote0Flag
- Originally Posted by skkoulhas naybody booked in comfort zone baner recently.
just want to know the rate/sq ft.
Nego rate here is INR 2600/sq ft. Builder & project is problematic. Best to avoid it.CommentQuote0Flag
- Thank you Mr. FM.
Thank you Mr. FM for kicking the RE chaps.:) Good. Now RE builders will be forced to cut rates drastically. Even market if you see today is negative. RE is -5.5% & banking -7.3%.CommentQuote0Flag
- I don't agree fully. Since the tax exemption limit has been increased and also the surcharge has been canceled, the salaried class is going to have more disposable income. Looking at the mindset of salaried people, most of them will route this extra money to RE investments thus creating more demand.
Just my 2 cents ..CommentQuote0Flag
- Originally Posted by CoolDudeI don't agree fully. Since the tax exemption limit has been increased and also the surcharge has been canceled, the salaried class is going to have more disposable income. Looking at the mindset of salaried people, most of them will route this extra money to RE investments thus creating more demand.
Just my 2 cents ..
Well, tax exemption limit is increased by just 10K which is negligible.
And for surcharge, it is for those whose taxable salary is >10L. Well many ppl at this level(who has taxable salary >10L) has already bought flats in boom time, and if not they have also realized that investment in RE is not profitable now. Well still for some cases, it will have effect on their buying decisions but not widespread. my thoughts.CommentQuote0Flag
- Originally Posted by realacresThank you Mr. FM for kicking the RE chaps.:) Good. Now RE builders will be forced to cut rates drastically. Even market if you see today is negative. RE is -5.5% & banking -7.3%.
Totally agree that there is nothing like increase in Tax exemption limit for home loan which will motivate buyers. Definately demand will descrese which may help in further descrese in rates. But there is nothing for It or other industry so even thouh rates will descrese desicion to buy house will be a tough one.CommentQuote0Flag
The initial print is out. The verdict is also out.
There is nothing here man. There is only for 1000 villages out of 45000 with Dalit population greater than 50 % who are getting some housing boost ( PM adarsh gram yojana). Nothing in I-tax, relief to bldrs, no infra boost, no disinvestment, Fiscal dificit 6.9%, Nothing for FDI. More money avenue for farmers i.e cheap loans but these will be at the bottom of the consumers pyramid, so how will it revive industry???
The RE sentiments r going to be hit, real buyers can now start to c rationally priced houses.;)CommentQuote0Flag
- Following the dangerous American Way!!!
Americans (in general) are famous for their entitlement attitude! They think that ever since they were born, everything should be packaged and spoonfed to them. And if it doesn't come, they whine and complain and SUE all their life!
You know where that has brought America to!
Now this disease is spreading rapidly into India. We have people who have decided how much sops they want from the Govt. So, having decided that the tax exemption in Interest paid on home loans must be raised to 2.5 lakhs and so many other sops thet they must have, there is now this peeved complaint that the Govt has let them down since they have not given it.
We must all start taking responsibility for our actions. If we overextended ourself by buying RE at huge premiums we only have ourselves to blame. Nothing is an entitlement or a God-given right. Nothing is free (TINSTAFL).
As I have already said, the Govt had very little room to maneuvre since Fiscal deficit was already at a 6% level at the center and nearly 12% overall. Last year Chidambaram told us that he would contain Fiscal Deficit at 2.5% (and I wondered how). Ir shot up to 6%. Today the FM says it will be 6.8%. I wonder if it will not reach double digits by early next year.
Read this again and again! There is nothing more that the Govt can dole out as freebies without putting out economy in grave danger - and we have too many smart people up there to allow that to happen.
Too many of us have become used to this easy life where growth is always in high digits and we can keep on borrowing and splurging without a care about the future. So, as soon as we get a job out of college, we must have a car and a home - thats the minimum entitlement!!!
Only 20-30 years ago we would wait 5-10 years after getting into employment before venturing into the first Fiat/Maruti. House would easily be 15-20 years or more after getting into employment.
The sooner we get out of this entitlement/birthright mentality and started planning our lives and taking responsibility for our decisions and not banking on the Govt to bail us out, the better would become our financial position!
- I think some of the buildes will be going bankrupt now. Actually this realty as we all know is a messy business and they put much at stake and depending on speculation they buy/bribe/do anything and but the land etc, now when due to a kick by Mr FM, many projects may go to doldrums. I suggest to all just wait a bit and the prices will be crashing down.CommentQuote0Flag
Man these Sops are for bldrs only not Aam admi,
The common man is perhaps better off in a way.
The sentiments r subdued, other wise the bldrs would have jacked up
prices on expectation of more buyers and good sentiments.
remember these people have already gobbled up all the incentives by
Govt and still got the prices up.
Free FSI (parkings, staircase etc etc etc... )/ more FSI/ULCA repel/TDR's
The prices have only gone UP in PuneCommentQuote0Flag
- Agree with Aditi and mahesh ...
10,000 per year is not that significant amount to even try and think about a 25L-30L flat.
Now, for few months, only smaller size flats will sell. Once that quota is over .... Prices will fall....CommentQuote0Flag