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- Good to hear that...
I was just discussing this with one of my real estate broker friend over this issue... we were concerned about the realtors rule the roost attitude...
The poperty pricing were placed in such a hotch potch manner... cashing the realty boom the agents use to price high the property and killing the market for amid investors...
but the question is ... is it a paper agenda or its going to be implemented ....????? :)CommentQuote0Flag
- these corrections hardly matters because ultimately its the agents and the sellars voice that finalises the deal..i m not sure whether it is going to have any effect because property transactions are not transparentCommentQuote0Flag
- real estate ethics role
I think this is the place where real estate ethics role becomes prominent to maintain the transparency between the investor and the realtor...CommentQuote0Flag
- But what is this.....?New Delhi: While real estate is booming in the Capital, prices of bungalows in Lutyens’ Delhi are literally going through the roof. In the last four years, prices here have gone up over three times — a whopping figure considering that the zone is seen as a ‘mature’ market.
The super-boom was in evidence again in a recently-concluded deal, when Essar’s Ruias bought a bungalow, 4 Tees January Marg, on 2.26 acres of land at Rs 91.7 crore. Seen in the context of the very low constructed area permitted within the Lutyens’ zone, it was a huge amount.
According to a real estate consultant who studied 4 Tees January Marg, only around 6,000 square feet can be constructed on the plot. This translates to a staggering price of Rs 1.52 lakh per square foot, an unprecedented value for real estate anywhere in the country.
The one-acre property on Amrita Shergil Marg which Sanjay Singal bought for Rs 137 crore a couple of months ago worked out to Rs 1.14 lakh per sq ft as the permitted built-up area on the plot is just 12,000 sq ft.
The Singal deal shows how much the prices have escalated. In 2002, Sunil Mittal had bought the 19, Amrita Shergil Marg bungalow for Rs 38 crore, which is less than one-third the price Singal paid for a similar property on the same road.
Source: TOI, 05/10/06
Does this news report depict the price correction theory?:(CommentQuote0Flag
- there is hardly any property to buy in lutyens' Delhi and the plots and Bungalows left are only within the reach of influential people whether they are politicians or businessman. Prices are shooting up in small localities in Delhi and NCR; the price hike in Lutyen's Delhi is no surprise to me.CommentQuote0Flag
- Lutyens’ Delhi ...
I too heard about it while coming to office in my cab... there need to be a proper evaluation and cost estimation system to monitor such events... its really ridiculous ...CommentQuote0Flag
- Mild price corrections expected
Industry experts expect mild price corrections in certain pockets in the country's mature real estate hubs. :)
A survey conducted by prominent international investors, private equity players, property developers and investment bankers - noted that the Indian real estate market is evolving fast and growing at an exceptional pace. However, it is plagued with information asymmetry as information dissemination is constrained and not regulatory mandated, unlike in capital markets.
The survey says return expectations also vary across sectors giving an indication about the perceived risk-return profile in various market segments. IT/ITeS is perceived to have lower risks compared to retail and hospitality. The lack of adequate infrastructure is the biggest challenge facing the real estate sector followed by regulatory ambiguities, rather issues like taxation structure and availability of funds.
What can be better news than this? Hope the industry takes note of the survey and implement measures to actually initiate price corrections.CommentQuote0Flag
- Originally Posted by mohanBut what is this.....?
Does this news report depict the price correction theory?:(
As per the plan it should be a 'multiplex/mall' although I highly doubt it given that they're also building Xion (mall, multiplex) on the hinjewadi main road.
Sent from my Nexus 7 using Tapatalk 2CommentQuote0Flag
- This link seems to be posted way back in 2006 and still people keep on speculating on this very issue i dont think price correction will ever happen just because builders are too greedy.CommentQuote0Flag