Aur EMI or payment kya author ka bap bharega..stop this paid media, builder, bankers and politicians nexus. Better tell the greedy blood sucker builders to reduce the prices to old rates otherwise oneday the unsold inventory of the jungle of concrete will force them to bankruptcy and the US type subprime will ruin the country.
Re: Invest in real estate
by Informed Buyer on Nov 03, 2012 09:22 AM
Be practical .... A house (flat) that was quoted @ Rs.2,750/- p.s.f. in 2003 in the distant suburb of Mumbai sells @ Rs.20,000/- p.s.f. today. Be as an investment or to own ones OWN home, a decision taken at the earliest would benefit.... One could be philosophical and speak about cost of construction, cost of land, interest, etc. .... but be practical and look at the realities .... don't be mis-guided.
Re: Re: Invest in real estate
by Ronit on Nov 03, 2012 08:38 PM
yes from 2750 in 2003 it shot up to 20000 and if you buy at 20000 today it will shoot up to 2lakh psf in another 10 years. abe dhakkan why are u misleading people. In top 100 stocks of BSE there will always be top 10 which has doubled or trebled in 1-2 year but what about remaining 90%. Also it is matter of time. 200-2002 was the bottom trough for the bombay real estate market. 2008 the prices peaked in all areas.. now for last 4 years they are stable or inching upwards or going slowly downwards in some areas. so this is a logical peak after which it should ideally fall. maybe it may not thanks ot buklders lobby but it will definitely not go higher like how this dhakkan has suggested
True... a builder digs a hole and for him the construction is in full swing... and many fall for this trap ..why shell money for a hole in the ground??
Also, i do not understand how people (even young and Double income ones) pay more than 1 cr ?? for so much as less than 800-900 sq. ft. I can hardly understand the logic of pricing of these builders. The build cost of a built up area of 1000 sq. ft cannot cost more than Rs.20 lakhs in india even with present day cost of brick, sand, cement and reinforcement (approx. Rs.2000/sq.ft at max). Assuming about 75% of this cost as the land cost ( a builder constructs approx. 60-80 flats in a high rise with a small foot print and hence the land costs gets divided into 60-80 flats per building), the land cost at max can be 15 lakhs assuming about Rs.8000/sq.ft . So, even factoring in 20% as builders profit (Rs.10 lakhs), a 1000 sq.ft built up area flat cannot cost more than Rs.50 lakhs in a place where land cost is approx. Rs.8000/sq.ft. So how come the builders are pricing this beyond Rs.1 cr is incomprehensible. The needful should all come together a form a society and build our own flats with own and reasonable specifications. We shoud approach MMRDA and other authorities to get our piece of our land.
Re: Let us Come to-gether
by anuradhakumari on Nov 02, 2012 07:56 PM
Went to MCHI-CREDAI Property Exhibition 2012, MMRDA Grounds, Bandra Kurla Complex, Mumbai.........................................
The venue was full packed..... Lots of inquisitive eyes and Pavilion hoppers.... with a dream to 'Own House'...
I also enquired about some projects and found the rates "Jacked Up"..... How is this possible? Is this true? It is something not in tune with the sentiments prevailing in the country....
Also, Enquired at some stalls regarding the projects (of suburb areas....)
At many stalls, they talked whole things, about payment etc. etc.... but when cornered and asked about the registration of the 'shortlisted flats'... they just replied... some papers etc. required to be approved from the collector's office... How can such projects are allowed to market at the exhibition??????
I feel, if our is not a BANANA REPUBLIC and rules and guidelines are stringent, then after through legal scrutiny, the Builders should be allowed to participate in such exhibitions and mechanism must be in place to address the Grievance and solve the matter QUICKLY... alas! In India, it takes Years to wipe the tears of the investors..........
No one cares about the Indian Mangoes and they also themselves, don't mind.......
Re: Re: Let us Come to-gether
by Bilal Ahmed on Nov 03, 2012 09:25 AM
Don't buy flats. Prices are about to come down tremendously. Let the election come with go back UPA government signal. All these are created by UPA and its monopoly. I voted this party but not happy with its policies. But what can be done no option.
Re: Let us Come to-gether
by elayaraja tachinamoorthy on Nov 06, 2012 10:03 AM
Dear friend
I am giving clear working for your reference.
Cost of 2400 sqft land is 2400 * rs 800 = 1,92,00,000 registration @ 8% = 15,36,000 hence cost of land is 20736000
for constructing a 4 floor building at 1.65 FSI (floor space index) a maximum of 3960 sqft can be constructed without violation
calculating construction cost @1500 including local body expenses
3960 sqft x Rs. 1500 = 59,40,000
Total 2,66,76,000
Builder profit @20% = 53,35,200
Total cost incl profit = 3,20,11,200
for 1000 sqft 3,20,11,200 / 4 = 80,02,800 without any taxes, vat, interest on his loan for construction activity or land purchase and registration.
including registration it goes upto 1 crore, it is mostly the problem of land owners and not the builders. also everyone is responsible for this price hike including buyers who increase the rates by demanding, landowners by increasing land cost, government by taxes and builders by using opportunity.
Re: Let us Come to-gether
by elayaraja tachinamoorthy on Nov 06, 2012 10:08 AM
Dear friend
I am a small builder in construction activity, I would like to submit few facts for your reference.
Cost of 2400 sqft land is 2400 * rs 800 = 1,92,00,000 registration @ 8% = 15,36,000 hence cost of land is 20736000
for constructing a building at 1.65 FSI (floor space index) a maximum of 3960 sqft(saleable area including common area) can be constructed without violation
calculating construction cost @1500 including local body expenses
3960 sqft x Rs. 1500 = 59,40,000
Total 2,66,76,000
Builder profit @20% = 53,35,200
Total cost incl profit = 3,20,11,200
for 1000 sqft 3,20,11,200 / 4 = 80,02,800 without any taxes, vat, interest on his loan for construction activity or land purchase and registration.
including registration it goes upto 1 crore, it is mostly the problem of land owners and not the builders. also everyone is responsible for this price hike including buyers who increase the rates by demanding, landowners by increasing land cost, government by taxes and builders by using opportunity.
And my personal suggestion to all the buyers is not to rush and to wait, which will reduce land cost and builders will be forced to reduce their margins
Re: Another PR Plug
by Mahendra Singh on Nov 02, 2012 02:56 PM
Well said, I have put my money in NCR region and I know this guy is misleading by vague talks and even lesser data to back his claims. Stop paid advertisements.
Re: STAY on RENT
by Roy on Nov 02, 2012 02:19 PM
And you dont have proper adress,running every year from one dirty home to another and some times disturbing the education of kids.
Re: STAY on RENT
by T S on Nov 02, 2012 02:22 PM
Correct... All the corruption, trouble starts because of the un-regulated real-estate sector. The middle class is partly to blame for that. Just boycott investing in real-estate. The corruption itself will come down substantially...
Re: STAY on RENT
by amol gite on Nov 02, 2012 04:32 PM
I am staying on rent for last 5 yrs. Created legal document with help of my lawyer.I pay only 12k for flat of 55 lac with covered car park. No society charges. And i have taken flat in big society more then 700 flats. Even after 5yrs term if i need to evacute flat i will be staying in same society. This works perfectly. Trust me. Let me know if require more detail.
