Already market is down by
Nitinlumar Kavale on Nov 21, 2011 02:34 PM | Hide replies | Hide message
I am real estate broker from pune . 15 days back Two BHK Flat in Erandwana sold at 77 Lacs. ( 85 Lacs price 2 months back ) Builder need money fast. He sold it 77 Lacs. Nitin
Re: Already market is down
by Sanjay Thakare on Nov 21, 2011 03:44 PM
Well ...pl. more such properties...so genuine buyrs can buy....;-)
I bet if property prices not fall. by
sagar mahajan on Nov 21, 2011 12:36 PM | Hide replies | Hide message
It is bound to fall.... Writer of this articl either developer or he is not aware about the real facts . This is a 10 years cycle. please look at the property pricess in 1995 it was 3500/Sq. ft and after that prices were slashed down to 1800/1600 , nearly 50% in 2000-2001/02/03. Construction prices is not more than 1200 per sq.ft. Even if buiders are not willing to sell their property in less price, but they should realised that the aforadability of buyers are gone down drastically because of higher property prices. So, there won't be many transaction/deal in property industry. This is the real reason why property prices are stagnant.
To control the property prices, there should be regulatory body like RBI for bank and TRIA for TELEcom industry or IRDA for INSURANCE industry.
Re: I bet if property prices not fall.
by Rohit Negi on Nov 21, 2011 03:07 PM
well , best way to put a control on property prices would be to raise property tax more for individuals buying 2nd property.. Also reducing the loan approval cap from existing 85% to 70-75% ..
Re: I bet if property prices not fall.
by RAJ on Nov 21, 2011 12:57 PM
How many properties u have purchased in last 15 years. Are u an expert on properties or a dealer or a bulider or an economist. Why will they fall, do not compare it with era of 1990s and yes they may not increase like last 8 years but will not reduce. How many jobs India has created in last 10 years , may be data is not available but propert boom came because of salaried people and money was made by agents and commercial minded people. Salaried youngsters are earning thru newer avenues ( BPO , IT , Retail etcc) and are moving out of their parental abodes and thus always want to avoid rentals and need new houses and flats. It is booming polpulation which is driving this industry. Pl understand your country before making expert comments. Even if it does not increase there wont be surplus ever in a country of 150 crores( I bet??) Jai Hind
Re: Re: I bet if property prices not fall.
by Atanu Chatterjee on Nov 21, 2011 04:05 PM
india's population have always been growing...now in last decade the technology boom had its positive ripple effect in real estate and other forms of consumerism..Now that the technology/IT stuffs have matured(stagnated), the price should hold up.
However the builders factor in about 2 forward demand...Therefore if the demand slows down, the immediate effect would be price cut.
The demand has been slow forlast 2 years without any significant price fall...The reason is the black money is financing the projects...At some stage it would come to an end...If a corruption-free developed economy like USA gets into such a kind of devastating real-estate orice fall, we have no reason to believe india wouldn't...
So lets accept as it comes without being over-confident
Re: Re: I bet if property prices not fall.
by Shruti Ohri on Nov 21, 2011 04:06 PM
I think nobody will work, who owns a property, better sell it and have F.deposit....why to work
I bet if property prices not fall. by
sagar mahajan on Nov 21, 2011 12:35 PM | Hide replies | Hide message
It is bound to fall.... Writer of this articl either developer or he is not aware about the real facts . This is a 10 years cycle. please look at the property pricess in 1995 it was 3500/Sq. ft and after that prices were slashed down to 1800/1600 , nearly 50% in 2000-2001/02/03. Construction prices is not more than 1200 per sq.ft. Even if buiders are not willing to sell their property in less price, but they should realised that the aforadability of buyers are gone down drastically because of higher property prices. So, there won't be many transaction/deal in property industry. This is the real reason why property prices are stagnant.
To control the property prices, there should be regulatory body like RBI for bank and TRIA for TELEcom industry or IRDA for INSURANCE industry.
This is a totally sponsored article, I dont see the hoopla for purchasing new houses as it was last year. Infact more than actual buyers whatever property are being purchased/sold are mostly by investors and atleast 80% of them are fooled by builders/bank as a better investment vehicle. Anyways I am sure that propery bubble will burst in India like it did in other countries and very soon.
black money in property deals by
saikrishnan narayanasami on Nov 21, 2011 12:09 PM | Hide replies | Hide message
one way to check black money in property deals is to match the guideline value to the market value and reducing the registration expenses accordingly such that it doesnt increase from the present value. Payment mode only through bank cheque.
