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Property
Tracked by: 0 Boarder
I completely agree on this and as govt. has announced recently to make it mandatory for Builders to have LIG and MIG (Low Income Group and Middle Income Group) houses in their plan. However this need to be monitored closely , else we will be back to square-one....
In reply to:
Will property prices drop sharply now?
Posted by :
Guest
People in India are afraid to point out that the real estate market is driven by the black money from tax evading businessmen and corrupt politicians and bureaucrats. Real estate is the only avenue to park these funds and slowdown or not these guys have no where else to take out this money and put into. They will stop rotating and speculating at the most and just hold. So unless the real estate market is regulated and made transparent it`s not going to reflect the true demand and paying power of the population. At most it will go down 20-25% from here and stay put for some time. 
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Property prices will see sharp drop immediately, the reactions and the tremors are already felt and the casualties will be reported in 3 months time.The corrupt Indian politicians who have parked money in real estates, have already withdrawn leaving the recent speculators high and dry. The black money is now stashed abroad. I am Venkat from Training8m, Queensland Australia...
In reply to:
Will property prices drop sharply now?
Posted by : Guest
People in India are afraid to point out that the real estate market is driven by the black money from tax evading businessmen and corrupt politicians and bureaucrats. Real estate is the only avenue to park these funds and slowdown or not these guys have no where else to take out this money and put into. They will stop rotating and speculating at the most and just hold. So unless the real estate market is regulated and made transparent it`s not going to reflect the true demand and paying power of the population. At most it will go down 20-25% from here and stay put for some time.
Tracked by: 0 Boarder
I agree..the real estate price will fall in next 2 mnths...i have been hearing from friends woh are into real estate that many major builders are under heavy losses and they have no liquid...they are not able to keep their commitments of paying up in 3 mnths to various other parties...so hopefully prices will go down.....already they have started offering free parking and free stamp duty registrations.......
In reply to:
Will property prices drop sharply now?
Posted by :
stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
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Whatever may happen unless atleast one builder goes bust prices are not going to come down and no builder is going to admit it....
In reply to:
Will property prices drop sharply now?
Posted by : pkk07
If that is your logic, why do you think people sell stock cheap? They should keep them till they get a better price for them.
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If that is your logic, why do you think people sell stock cheap? They should keep them till they get a better price for them....
In reply to:
Will property prices drop sharply now?
Posted by :
biswaska1
Disagree with you. I think you are planning for buying some property once it falls,even I am planning for same. Though we hear correction in real estate prices in many areas, if you actually check with builder or Land owner the rate is still same. I dont think they will agree to sell it at lower price. At the max it will remain at this level for sometime before appreciating again
Tracked by: 0 Boarder
People in India are afraid to point out that the real estate market is driven by the black money from tax evading businessmen and corrupt politicians and bureaucrats. Real estate is the only avenue to park these funds and slowdown or not these guys have no where else to take out this money and put into. They will stop rotating and speculating at the most and just hold. So unless the real estate market is regulated and made transparent it`s not going to reflect the true demand and paying power of the population. At most it will go down 20-25% from here and stay put for some time....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
Tracked by: 0 Boarder
Yes I,fully agree with you, even inspite of heavy demand pepole can`t buy a house in Mumbai,Thane areas because of over pricing.The property rates in these areas are more than doubbled in last 2 to 3 years. The person whos buying capasity were 3bhk before 2yrs today he can afford only 2bhk in that,same with 2 & 1 bhk.Second thing developers are not intrested in building 1bhk witch is the requirment of a huge middle class people. One thing is sure now this market will crash & it will last mimimum for 2yrs....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
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If you want to buy a property at cheap rates in Mumbai, better settle in a slum area with your family in Bandra, Mumbai.
You will get a 400 sq feet house worth Rs 80 lakhs - Rs 100 lakhs for free by Government of India.
Obviously, the money for such a noble cause comes from honest tax payers staying in rented houses unable to afford housing in Mumbai....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
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Insolvency of real estate cos. in india is not realistic as of now though they are definetly going through a rough patch which is likely to continue for some time now, Demand however in the short time is going to be very low beacause of liquidity crunch, high interest rate, and inflation, this will lead to drop in prices which will increase demand in phases. ...
In reply to:
Will property prices drop sharply now?
Posted by :
rajan3
The first companies that are going to file insolvency are real estate companies,since most of the bookings are not honoured due to banks going slow and low on housing loans .The reality companies have become totally dried up with no external borrowings no private placements of their shares no rights issues no deposits from public and dishonourment of bookings.The sale of lands will fetch only half the rate these have been purchsed .Wait for three months .All the flats will come for auction
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Developed Country and Developing country has a vast difference , there is demand i have no doughts but how many people can afford such prices. 77% of indian market is rural and earning below Rs.50 a day. If US goes under reccession most of the indian call center will be under trouble. Recently banks reject loan on LEHMAN BROTHER pay-slip. God help this market. i see a rapid drop in real estate in next 6 months , Siddharth Shah , UK...
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
Tracked by: 0 Boarder
The first companies that are going to file insolvency are real estate companies,since most of the bookings are not honoured due to banks going slow and low on housing loans .The reality companies have become totally dried up with no external borrowings no private placements of their shares no rights issues no deposits from public and dishonourment of bookings.The sale of lands will fetch only half the rate these have been purchsed .Wait for three months .All the flats will come for auction ...
In reply to:
Will property prices drop sharply now?
Posted by : 802072
I want to buy a home but I know that prices in India will never fall sharply. Being a very strong developing (not developed)economy, the demand will be robust ,however, the prices will reduce but minimal.
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Hardening Interest Rates,Weak Credit growth and Non Availability of funding for Projects has thwarted the real estate developers.Small developers have experienced the pressure so much that they have lowered the rates in many areas.However big developers have access to PE Funds owing to which they can sustain the current fall. Diwali and Dassera would be deciding period for the guys who are hunting for a house....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
Tracked by: 0 Boarder
The property prices have risen sharply in the last 2 -3 years by as much as 100% (double) in most locations. However I feel that the drop if at all will be at most around 25% to 30% in the next 3 to 4 months. Although this is a very sharp drop - but we will not see prices prevalent two years ago....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
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Property prices will not drop in key cities and areas. For example Bombay or should I say Mumbai will continue to see high prices in South Mumbai and other posh areas. There might be a decline in some subarban areas however. Also in cities like Ahmedabad the central areas which are posh and central (like C.G. Road and surrounding nearby areas) the prices will continue to remain stable and might even rise slightly. However, in the outskirts of Ahmedabad the prices have already dropped by 20 percent or even more in certain areas. Also, in cities like Ahmedabad LAND PRICES WILL NOT DROP. Especially in the high end and central areas like C.G. Road and surrounding posh areas. However, apartment prices may come down by 10 to 15 percent and retail mall spaces might come down by 20 percent or more. In the next 6 months to one year land prices in good key areas will continue to remain stable but apartment prices could drop by more than 25 percent. And malls will continue to suffer. So one has to be selective when one buys property as a consumer to use or as a developer to develop. As I mentioned above certain excellent residential and commercial areas are still demanding top prices and the prices have continued to rise even in this year of 2008 which is not supposed to be a good year so far....
In reply to:
Will property prices drop sharply now?
Posted by : pkk07
Very true.
Per capita income wise we are 160th in the world. All the foreign money is gone. We have no money ourselves. The property bubble is about to burst. I predict that we wont see current prices again in the next 8-10 years.
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I want to buy a home but I know that prices in India will never fall sharply. Being a very strong developing (not developed)economy, the demand will be robust ,however, the prices will reduce but minimal....
In reply to:
Will property prices drop sharply now?
Posted by : stockgun
i think after the stock market, the property prices are the next to go.. in another 3-6 months we can see a sharp drop in real estate prices.. will increasing interest rates, the demand will slowly start reducing.. th only resistance in prices now will come from the demand that was waiting in the wings for prices to drop.. but after that blip that prices will steadily start falling...
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