i have seen the mumbai property market including new bombay for last 30 years. Navi Mumbai residential property price will be available at 50% discount sometime between 2009-2012.Prime residential property was available there @ 1700-2000 just 3 years ago. That was the price for seawood also which had stagnated at that price for 12 years. Now the asking price is 4500. With tenfold increase of supply we expect prime selling price will come down to 2500 at best by 2010.
RE:RE:i disagree with projected price for navi mumbai
by Bhupinder Singh on May 21, 2007 09:20 AM
GETTING COSTLIER MEANS MOST OF BUSINESS WILL SHIPT TO LOWER COST AREAS PROBALY TO OTHER CHEAP LABOUR COUNTRY,, WITH THE COMING RETAILER,, INTERNET MOST OF OUR BUSINESS WILL OUT OF ORDER,,BIG SHOP MALL WILL BE ABLE TO DELIVER GOOD CHEAPER THAN EVER RETAILER COULD HAARDLY THINK OFIN AMERICAN,,MOST OF SHOP ARE SHUT BECUASE THEY CANNOT AFFORD THE CHEAP GOOD OF CHINES AND OTHER COUNTRIES, MOST OF PEOPLE PREFARE TO PURCHASE THEIR DAILY THINK FOR FOOD STORE CHAIN AT VERY CHEAP,,THOROUGH INTERNET THE IMPORTANCE OF OFFICE WILLBE LESS THAN TRANSPORT,,,,
what segment of housing they are talking about. Probably they are talking only of ultra luxury stuff. For eg in Whitefield one can easily get good flats for 2500/sqft with reasonably good amenities.
RE:I am not sure
by Prof R K Gupta-India on May 20, 2007 11:35 PM
2500 per sq ft is too high a price dude for a residentail flat and that too outside banagalore.do you understand how many times it is for a common indian private citizens' yearly saving.100 times.So one has to wait for 100n years to either buy ro pay off loans.Is not that silly? The property prices are in grip of big realestate mafia round the country with polticians and corrupt bureaucrats like police officers, Sales tax people and so on. Anyhting above 1200 per sdq ft is crminal. Indian governemnt must release atleast 10 million sq mtere land immediately in varuious states to cool down markets.This property shoukld be sold at 900 to 1200 Rs /sq mtr by government deveklopment agencies.
RE:I am not sure
by santhosh thomas on May 21, 2007 09:49 AM
Looks like you are a professor of history, There was something called a wheel that was invented long long ago. It moves forward primarily and only sometimes backward. Properties were never affordable from the old times and it is no different now. Its the same all around the world. @ your rate if one gets a land he will again spend the same amount to build a compound wall around it at the oresent cost. Frustrations are understandable and is there all over. Its only that we are all underpaid comparably,hence cannot afford. A few who are paid well are able to afford the prices being quoted.
RE:I am not sure
by sai on May 20, 2007 05:01 PM
It all depends on builders. If you with Mantri,Purva,Presteige etc.. it is as mentioned in the article. There are other areas coming up like Bhannerghatta rd, intl airport area etc..where u find 3000/sqft..At present market is hot..but compared to Hyderabad where prices gone up 200% in a year, Bangalore is still better..
Lets take an example Loan Amount: Rs 1,00,000 Rate of Interest: 7.5% (yes this was in pre-historic times) Tenure: 20 Years
The EMI for the above is 805.59 Use http://www.cashonomics.com/loan_calculator to verify
Now Loan Amount: Rs 1,00,000 Rate of Interest: 9.5% (yes I know you don't get it these days) EMI: 805.59
What is the new tenure? Any guesses??? Get ready for a shock
The new tenure is, hold your breath.....42 Years, 11 months. I don't know what it will be for 11.5%
Don't believe me? Try http://www.cashonomics.com/loan_calculator and choose Calculate Tenure
Stop taking loans first and close any you already have. Do spread the awareness. The hapless middle class is totally unaware of the logic used by banks to calculate the new tenure.
RE:rate in malviyaa nagar delhi after one year
by manoj gupta on May 20, 2007 10:44 PM
proper malviya nagar. i need 3 room set. how much the price will be after one year.
I stay in MUMBAII,,PLANNING TO PURCHASE A NEW FLAT IN KAMAL GAZI,NR GARIA AT KOLKATA, A NEW PROJECT WITH ALL MODERN AMENITIES @1300/SQ FT. WILL IT BE A RIGHT PURCHASE AT THIS TIME AT THAT PARTICULAR RATE?
