Hi Guys, What's your prediction on Chennai's proposed IT Corridor? Hiranandani and Other big developers are building townships with infratsctures. The rate is 4500/Sq.feet Per floor seperate rate of 50?
The completion tenure is 2010. Will it get appreciated by 2010 or will there be a downfall.
Hiranandani builds just opposite Siruseri IT Park and near by no other qulaity housing?
For a 3BHK one need to shell atleast a Crore?
Can you guys adice based on your experience with Hirandnani in Mubai? How they did it in Mumbai and what's the rate now?
It is good to read all the messages posted.I My self have been keeping a track on the real estate for the last 2 years. i have observed that the appreciaton is all well planned and there is not shortage of supply.Most of th falts in mumbai are taken by investors. the real users are less. The main culprits are the real estate agents who play with the emotions of the people and keep on increasing the price. all buyers you are the king wait and watch and dont buy if you are the real user ,there will be correction of more then 25% by next 6 months so dont worry. what ever goes up has to go down . for the last 2 years the seller was smart and banking on his investment.it is the time of the buyer to be smart and not purchase. any thing which is not salelable has zero value thats the point
the indian govt are full of chor and corrupt people whose aim is to continue the selfish,bereacracy , corrupt system and inefficiency of system,, indian by and large arenot rich,, there income is still under 10000 for mojority of people,,,who are those fueling the rumour in themarket,, india govt is worse administor ,, from where all these money are coming,, most of india require ment is 2 room house below than10 lakhs , it isposible in appartement,, but govt is bent upon getting prizes high jected by socalled manipulator,,if people come in coprative society and build 10 floor house with much space for greenery it is posble everyone live comfortably,, indian people need a strong leader and strong dictorial acumenship to show path to people, if indian govt follow certain guidelines the prizes of property will automaticaly come down.
make all pan compulsary for transaction above rs50000, 5%registration for first home in family,,15%second 25% for third,,all nri money should be routed thorough n r i account 25% registery shouldbe charged,,,,there should be yearly tax at least 5% of totaly value of home,, every tenant should be pay one month rent as tex..govt should be sole authority for purchase of land,, different land rate should be demarcated for different segment of sociaty..for cheap home , govt should have equity,,nononeshould be able to sell it,, home is for live not for future business, here people are dying on raod, why few people should be given room for super profit,, it is bullchit of govt system,,,
The current prices which are increasing at a rate of 20 % quarterly are because of IT boom in india, The half educated builder lobby is very wise to encash this boom, They are just fooling newly joined so called educated IT professional. Just don't fall pray to these idiot crap and don't waste your hard earned money to these builders. Wait few monts/years, these prices will definetly going to fall....I also request rediff to keep this article online for whole monday, so all the peoples accesing rediff in their office time will come to know about these things !!!
Why re you poeple so amazed this is called real estate buble and its good also cause those new born investors who wants to be big financers of the futre will eat dust when they will borrow 30 lacs from the bank and pay 30 lacks from ther fathers Profident fund and retirals to pay for the posh flat they buy in out out out skirts of the city only to sell it for less that 40 lacs when this buble burst .
I 101 % agree with the post down below and if some one dosnt want to listen to what we have to say its up to him cause he is going to loose if any body has a doubt try to book one flat with a token amout of 20 -30 thousand today and the cancel the booking and see if builders agree with you they will not agree to cancel your booking ,even thought they told you that it was the last flat that they had with 1000 buyers waiting for it while selling you and the price has to go up next week but will not go up
I know you will be thingking what stupid i am to get you a loss of 20 K but my frinds that will be still better than the 30 lacs loss which is about to come to you in next 10 years in form of actual price and also intrest
Please dont think i am a irresponsible person talking things i dont know at present i am working as Fund manager with one of countries top mutual fund and i also 5 years experience of investment banking in america nad HK
And i also hold a few properties in india which i propose to hold for my life and probably buy more at the right price so if i am wrong i still make a lot of money as prices go up and if they fall i will buy more these prices will surely look cheap at 2020 but not now a 200 thousand dollar flat where you dont have proper roads light and water GIVE me a break Mate
RE:REAL ESTATE BUBLE
by on May 09, 2008 07:53 PM
I fully agree with your view point. I booked a one BHK flat in Hiranandani Thane sometime ago and cancelled it after 15 days. I paid an initial deposit of Rs.50000. However, when I cancelled my booking the sales manager flatly refused to give my money back. He said I will get only 25000/- and that too only if someone is ready to buy my flat which can take one day or one year. This is my first hand personal experience. Hope everyone reads this before getting into the trap. S.A. KRISHNAN
This is well designed nexus between land mafia, underworld and politicians.
I have been keep an eye on the latest development of prices of flat and following are my observation.
1. The moment you call any builder, the first thing you hear is that the prices are going up, even before they have excavated 1 inch of soil to build flat almost 90% of flats are booked. At the current rate the prices go up by 200-500 Rs Sq Ft every Qtr.
2. Even without a small development in the area, surrounding area the price goes up by 20% in 6 months.
3. Most of the flats which are being booked are by people who are new into IT jobs be it call center or any other place who earn between 5 to 15 lakhs.
4. The first advice a 22-25 years unmarried or married person gets from family and friend is that immediately "Book at flat" without even understanding the interest rate, EMI or the rate, ammenities etc.
5. Most of the money pumped into real estate is by Goons, power brokers and they will are getting an amount of money which will prevail in 2030-2040. They will vanish from market in 2010, just wait and watch.
6. NO invest agency is now putting their money in real estate please note this.
7. The day people stop booking flat for 6 month just wait and watch the prices will come down by 30-40%.
RE:Price of Flat
by pravin barde on May 21, 2007 09:02 AM
you are absolutly right, i have also observed that these peoples makes a racket and aquires a land far away from city and mean while they aquires the land in-between. then they develops the faraway property first and the cost goes high for the inbetween properties and encash it after some time. no way common man define the cost here
RE:Price of Flat
by Achal Sangal on May 21, 2007 04:34 PM
I think you have laid the points very clearly for a layman to understand whats really going on in the real estate sector in metro cities. These cities are brooming with skilled professional ,who have entered in industry (IT, ITes,Manufacturing , etc) , and not short of disposable money. With rising incomes and multiple job oppurtunities ( especially in IT & ITes sector) , the risk appetite of an average consumer has increased. And gosh , this has been wholly encased by the bank-builder nexus ,the property dealer playing the middleman role.
RE:Price of Flat
by on May 21, 2007 12:17 AM
People who are buying properties at the rate of 200% appriciation are making an investment which will not give even a single paisa return in next 30 years, not to forget the amount that a poor middle class person will cough up in next 20 years based on the higher interest rate.
What has changed in New Mumbai, Pune, Hyd, Ahmedabad, Hyderabad in last 1 year that the prices have gone up by 200%-300%, does a swimming pool or a tennis court or for that matter a so called park with 2 swings makes the price go up by 200%.
Properties who do not have even a approach road in Hyd are prices at 3400 Rs per Sq/ft...Lol....
A flat price of 3 bed room in Hyd costs around 70-80 lakhs property is Maytas properties. I think in that rate you can book a 4 bed room independent house in US.....
I'm looking to buy a 2 bedroom house in Mumbai but the way prices have zoomed in last one year it seems that it will remain a dream. Mumbai is one of the costliest place to do business in India and I dont understand why people are expanding business interest here. All the IT, BPO companies operating from here shall immediately shift because so called low cost advantage does not exist any more here with property prices almost same as one in US and completely filthy and crumbling infrastructure. I have moved accross various cities in India, but have found that living here is costliest.
This time real estate scam is going on with full heat.polticians,corrupt bureacrtas and businessmen are in collusion with real estate mafia heating up the market.These guys have too m uch easy money and sopeculation is rife. It is matter of shame that property(residential) prices rose by 60-150% per year since last 4 years.Man Mohan Governbment is total falure.these prices increase rents and cost of business and living.It fuels infaltion and vicious citrcle goes on.Common man should forget to buy a house now.Man mohan must resign.he is osuedo economist and a big zero.he is busy and more interested to again become MP and hope to remain PM.People of assam should throw him out. Just magine a p,lot of land outside a city also costs 5000 per sq yd so even a small 100 sq yd house would cost totally rs 12 lacs after stamp duty and 2 BR construction .that is almost 100 years possible savings of an average unorganised sector worker or even a common city resident.Housing is out for indian masses.5% mafia of hihgly paid IIT and IIM grads and theior senior executives, businessmen and traders with polticiansd and bureacrats are busy looting and oplundering the nation mopping up property and other things.People should underatand this and hit back. With commidity and personal goods already rising minimum @ 15-30 % inclduing drugs for last 5 years life is lready hell for average citizen.Are we taking India towards serious naxalite movement,civil war, violence and land grabbing and crimes?
RE:Real estate scam is on
by Bhupinder Singh on May 21, 2007 09:15 AM
we aslo seek the blessing of akal takhat to teach our politican a lesson in human welfare and service of their duties, most of our politician are corrupts,,wth the downfall of ameriander govt in punjab,,many builder have become bankrupt and even commited suicide, you can guage the link bwt politician and builder mafia,, everywhere every builder took the ashirbad of c m minister and local mla and even giving some share to polce wale,, started colonies and sold it without any facilities and legalisation,, what a shame,,,see in punjab a killa is costing manipulated prize is 1crore to 3 crore , what is his return in agriculure is zero,, if some one dnot take that for benami property..no production no job , but speculation with the help of socalled tekedar of congress party and opposition, people have not faith inthei misdeed, inthe socialistic system they are looting the people,people are divided in the name of caste religion, only power can unite people,, THIS IS CLEAR MASSGE TO ANY ONE WHO ARE RULING THE COUNTRY INDIAN PEOPLE NEED JUSTICE, HOME TO LIVE AND DECENT JOB FOR SURVIVAL IF ANY POLITICAL PARTY FAIL , IS IS NOT LIABLE TO RULE INDIA,, CHOR , CORRUPTS PEOPLE WILL BE BURIED ALIVE WHEN PEOPLE START TO ASSERT THEIR VOICES, NOW TIME HAVE COME, SOCALLED POLITICIAN CANNT DEVIDE PEOPLE IN THE NAME OF MOENY GAME,,,
