Prices are not falling.. even if they are fallen, it is less than 10%. Most of the investors do not need cash (anyway Modiji has made them cashless), where will they deposit cash. So hold tight.. prices will fall. Unitech is desparately selling.. DLF is desparately in need of cash. Assotech / Supertech are on the verge of Bankruptcy.. So investing in these properties from these builders is like putting money into ponzy scheme.
Better wait for more time. and buy property from secondary market or finished products. There is no appreciation in the primary markets.
Also till then, the rental for buyers is good. With a yield of close to 2%, the investors are letting their houses out on cheap rent. So use this opportunity to stay on cheap rentals..A 4 Crore house in GGN - you pay less than 65K rent. What else do you need
It is correct that there will never be a better time to buy property and never a worst time to sell ! However, those selling one property to buy another shall not be affected because sell cheap buy cheap and sell dear buy dear.
This price fall story has been running since 2008. Builders instead of cutting rates have cut the size of flats.. a 2000 sqft three bedroom with 10%,loading has become 1200 sqft three bedroom.. with 25-30 loading...Builders are drinking champagne ... middle class.. lower middle class with bp..diabetes..is working extra to pay of loans
Guys please don't die a death of EMI slave. Relax. It is similar to the slaves who built pyramids. Enjoy the life. Thing are going to be more strict. digital money will kill the brokers. Prices will fall beyond 2008 fall. Even the prices fall Just do not BUY.
By June 2017, prices will fall by another 20%. Being connected with Construction Industry since 1978 I bet what I have written will come true. This are not only my words but bets of persons much more learned and experienced than me. You may come across write ups presenting a rosy picture but they are words paid by Construction Industry to be presented. Rushing to buy or waiting to reap the benefit is pure individual choice.
Re: WAIT
by Rahul bhide on Jan 19, 2017 11:13 AM
Totally agree with your comment. That is what I feel too, since I have been following the real estate for about 10-15 yrs now. If the interviewer had asked Mr. Anuj Puri, what is his definition of affordable home ? he would nt have been able to answer, because the truth is Real estate in India is currently not affordable. Simply put my salary cannot buy me a 1-2 bhk flat at 60% of my salary EMI.
Re: WAIT
by Rahul bhide on Jan 19, 2017 11:13 AM
Totally agree with your comment. That is what I feel too, since I have been following the real estate for about 10-15 yrs now. If the interviewer had asked Mr. Anuj Puri, what is his definition of affordable home ? he would nt have been able to answer, because the truth is Real estate in India is currently not affordable. Simply put my salary cannot buy me a 1-2 bhk flat at 60% of my salary EMI.
Re: WAIT
by Rahul bhide on Jan 19, 2017 11:13 AM
Totally agree with your comment. That is what I feel too, since I have been following the real estate for about 10-15 yrs now. If the interviewer had asked Mr. Anuj Puri, what is his definition of affordable home ? he would nt have been able to answer, because the truth is Real estate in India is currently not affordable. Simply put my salary cannot buy me a 1-2 bhk flat at 60% of my salary EMI.
Re: WAIT
by Rahul bhide on Jan 19, 2017 11:13 AM
Totally agree with your comment. That is what I feel too, since I have been following the real estate for about 10-15 yrs now. If the interviewer had asked Mr. Anuj Puri, what is his definition of affordable home ? he would nt have been able to answer, because the truth is Real estate in India is currently not affordable. Simply put my salary cannot buy me a 1-2 bhk flat at 60% of my salary EMI.
Re: How much cheap?
by Rahul bhide on Jan 19, 2017 11:18 AM
No, and hence the flats are still not affordable. Once you are able to buy a flat -2BHK approx 650 sqft in Mumbai suburb at 50 lacs, you know it is afforadable now, bcoz I can if a asst manager or manager who has salary income of 1 lac per month, will be able to afford 50,000 Rs in EMI and rest for his savings and monthly expenses. Currently it is not the case, although prices have gone down a bit they are still way to high. Currently in Thane 2 BHK outskirts of (15km away from Thane station) are at 60lac for 2BHK, so you can imagine how unaffordable or impractical they are...
