Hi folks,

As I earlier mentioned I am going to visit Pethkar - Samrajya today. I am finalizing a 2bhk unit there. The last rate quoted was Rs. 4200. Lets see how much they reduce the price today. If anyone has more info on this project/builder then kindly share. :D
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  • Originally Posted by abeerbagul
    A 3 bhk flat costs 1.47 crores (as per latest availability sheet). Add on 10L for stamp duty, registration, VAT, and some internal fittings etc.
    So total cost of a 3 bhk flat will be approx 1.57 crores.

    Rent for this flat will be max 18000 per month, unfurnished. So rent : price ratio turns out to be 1:816. As per all international indices, a rent:price ratio of 1:400 and above indicates bubble territory. So is there a double bubble in Samrajya?

    Is this unaffordable or what!!


    Well I suspect most of the IT guys staying there are a couple who worked for 6+ years on H1B/Onsite. Or otherwise one from the couple worked for 10+ years on H1B/Onsite. :bab (59): For such crowd 1.5 Crore is NOT a big deal

    Rest of the others must be business professional who earn much more than IT guys :bab (3)::bab (59):
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  • Well, the base price of a resale 3 bhk in kasturkunj is 1 cr more than than what you mention below. No idea of the rents there but it looks like the 'bubble' is quite widespread and long lasting...

    Originally Posted by abeerbagul
    A 3 bhk flat costs 1.47 crores (as per latest availability sheet). Add on 10L for stamp duty, registration, VAT, and some internal fittings etc.
    So total cost of a 3 bhk flat will be approx 1.57 crores.

    Rent for this flat will be max 18000 per month, unfurnished. So rent : price ratio turns out to be 1:816. As per all international indices, a rent:price ratio of 1:400 and above indicates bubble territory. So is there a double bubble in Samrajya?

    Is this unaffordable or what!!
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  • Originally Posted by "tushart
    Amenities look really good - specially swimming pool.


    Dear tushart,
    Thanks for the appreciation.
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  • Originally Posted by sakelkar
    Well I suspect most of the IT guys staying there are a couple who worked for 6+ years on H1B/Onsite. Or otherwise one from the couple worked for 10+ years on H1B/Onsite. :bab (59): For such crowd 1.5 Crore is NOT a big deal


    Asking price does not reflect no. and value of total transactions at that price. VWAV (volume weighted average price) over a period of time gives true picture of the pricing at which flats are sold.

    And for the guys you have mentioned, it will be a big deal if they invested in a house in US at peak and were unable to sell even at a low price

    Originally Posted by sakelkar

    Rest of the others must be business professional who earn much more than IT guys :bab (3)::bab (59):

    +1. It is those who are in the business of taking all the money being earned by others - those in sales or in population driven business - are the ones who can actually buy at high price.
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  • Jitu_Sir: I have said it before, and will again say it once before I put my request - Your views and candid answers have helped a lot for me in understanding about the real estate market, so thanks for that.

    I would like to know your viewpoint / your take on what's to come in 2013 and forward. I have seen samrajya flats being sold right from 4000 onward and I see a rate of 9000+ currently. I would really love to know if you think this trend will continue in future. Can you throw some light on the traffic, footfalls and if actual sales are happening at these prices and if you foresee the prices continuing in the same relentless fashion? Thanks in advance for your response!

    ~D
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  • Originally Posted by rendezvous
    Jitu_Sir: I have said it before, and will again say it once before I put my request - Your views and candid answers have helped a lot for me in understanding about the real estate market, so thanks for that.

    Dear rendezvous,
    Thanks for your compliments. Its pleasure to share the knowledge.
    Originally Posted by rendezvous

    I would like to know your viewpoint / your take on what's to come in 2013 and forward. I have seen samrajya flats being sold right from 4000 onward and I see a rate of 9000+ currently. I would really love to know if you think this trend will continue in future. Can you throw some light on the traffic, footfalls and if actual sales are happening at these prices and if you foresee the prices continuing in the same relentless fashion? Thanks in advance for your response!

    ~D

    If you see our current rates are stable for more than 2-3 months. I do not see much scope for any further increase. Also the demand has slowed a bit looking at the turnouts and exhibition/ ad response. As per my understanding the market will go nowhere for next few months. You may even see some correction.
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  • I think the rate they are offering is good. If you like then you should finalize it.
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  • Originally Posted by Jitu_Sir
    If you see our current rates are stable for more than 2-3 months. I do not see much scope for any further increase. Also the demand has slowed a bit looking at the turnouts and exhibition/ ad response. As per my understanding the market will go nowhere for next few months. You may even see some correction.

    Jitu_Sir,

    Thanks for making the statement above. Good to see atleast some builder who accepts the reality & acknowledges it. Even better is you are the sole builder here who has not faked his profile. Sometimes I wonder how you manage to sit in CREDAI meetings if this is indeed real you. :D

    Rest of the members should read Jitu's statement above carefully. :)
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  • Originally Posted by "realacres

    Jitu_Sir,

    Thanks for making the statement above. Good to see atleast some builder who accepts the reality & acknowledges it. Even better is you are the sole builder here who has not faked his profile. Sometimes I wonder how you manage to sit in CREDAI meetings if this is indeed real you. :D

    Rest of the members should read Jitu's statement above carefully. :)

    Dear realacres,
    Thanks for the appreciation. Facts can't be manipulated for longer times.
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  • Originally Posted by Jitu_Sir
    Dear realacres,
    Thanks for the appreciation. Facts can't be manipulated for longer times.


    Well... Here is a builder officially agreeing that facts were in fact manipulated for a long time... ;)
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  • Originally Posted by Jitu_Sir
    Dear rendezvous,
    Thanks for your compliments. Its pleasure to share the knowledge.

    If you see our current rates are stable for more than 2-3 months. I do not see much scope for any further increase. Also the demand has slowed a bit looking at the turnouts and exhibition/ ad response. As per my understanding the market will go nowhere for next few months. You may even see some correction.


    Looking at the number of likes received by this post, looks like people got to hear what they wanted to after looooonngggg wait of over 3.5 years :dance2: and many of them who were with Jitu Sir must be after this post. Could not been a better new year gift on IREF . Calls for :bab (48):
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  • Originally Posted by compuwalah
    Looking at the number of likes received by this post, looks like people got to hear what they wanted to after looooonngggg wait of over 3.5 years :dance2: and many of them who were with Jitu Sir must be after this post. Could not been a better new year gift on IREF . Calls for :bab (48):


    man you got taste for emoticons :D regardless of that the "stable prices" are beyond imagination :D:D
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  • INR 300/sq ft flat cash discount is now being offered at Samrajya.
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  • Originally Posted by realacres
    INR 300/sq ft flat cash discount is now being offered at Samrajya.

    Dear real acres,
    New year wishes to all members. Yes, we had come up with this offer for bookings made before 31st Jan 2013. All ready possession flats which will also save on ST & VAT.
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  • Wow, first time in X years builder is giving discount. The funny part is, when builders keep raising rates, buyer thinks it is better to buy now coz later he will have to pay more.
    When builders start giving discount, buyer thinks he should wait / bargain for a larger discount.
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