hi, i have purchased a flat at kalyan (e) at chakki nakka towards haji malang road in march 08 for Rs. 1800/- per sq. ft could u pls tell me know whether the value was reasonalbe and is there any chance in increase the price in the near future and any development expected in the area
i am buying a property at hzripahad krishna nagar back side of vayusena nagar nagpur, it is 2nd floor and SUP is 825sqft amounting to Rs 1250000/- including water and elctricity meter is it worth buying it kindlly give your suggestion.
Interest rates will soar upwards in the next 8-12 weeks. Union Budget has not given any such relief that will increase the savings of the people. Monsoon is failing and essential goods are getting expensive. Who in his senses will buy a house at this stage? Even though there have been news items that recession is over, it's not the truth. I know of companies that are still restructuring and asking people to go. Exports are down and not all software companies are getting new projects today. Most people are still insecure about their jobs and majority people are not going to buy houses till the time they are absolutely sure of their jobs. The pressure will continue to remain on builders & developers. They have no choice but reduce rates. Rates need to be 50% of what they are today.
Re: Property prices are bound to fall and that too steeply
by bhanumurty on Jul 10, 2009 06:01 PM
It is always a biased game.During the last 4-5 years, wherever or whenever you buy, you are going to lose.Because everyone is crying fowl.The banks reduced their rates now but they will defenitely raise the rates.fixed or Floating , it doesn't matter.We should wait for atleast 4 more years, build our portfolios, and once the real estate bubble bursts, we can take a chance
Re: Property prices are bound to fall and that too steeply
by Nihir Pathak on Jul 10, 2009 05:16 PM
I do agree with you that prices should fall, but the Builder Lobby is never doing so. I dont know how do they survive in this scenario?
Re: Re: Property prices are bound to fall and that too steeply
by Milind Sawant on Jul 10, 2009 07:20 PM
Nihir,
The builders are not surviving. They have started defaulting on their payments to the banks. Only the big budget Hiranandanis with equally higer greed will hold on to their price. They are offering extra amenities to lure the innocent buyer. It is only a matter of time before they start panic selling.
