Saturday, July 25, 2009

Global warming, high tides and Mumbai sea-facing property prices

Yesterday I was one of the curious onlookers witnessing the ferocious waves as they lashed upon the sea-walls. My parents have lived their whole life in Mumbai and they havn't seen this phenomenon ever. Flooding in Bacchan's Juhu house due to rains has become a norm, now the sea water has started entering his house due to tides. All areas within the vicinity of the beach are flooded. This set me thinking that maybe this is a game changer for all these sea facing mumbai properties. Global warming is real, the tides are higher then ever, the rains are more then ever and this combination is lethal. I love the sea, except when it enters my house and destroys my car and all my possessions. I think its time to rethink prices on Mumbai's sea-front. We are witnessing a game changer here. What do you guys think ?

56 comments:

Anonymous said...

Hi All,
I am from Bangalore. Met some brokers this morning. They were of the opinion things are improving. They admitted that a few months ago, it was worse. They showed me a couple of properties. They claim there are a few more people who saw the same property and it might get sold any time. When i asked the possible final price from the quoted price, they said about 100 rs per sq ft can be bargained. I am wondering if they are telling the truth or its just the trick. It is very much affordable to me although i would have liked it more had it been about 300 rs/sqft lesser.
Do you guys think the price will remain more or less the same (for the next 6 months) if not any fall from here?. If it remains the same i can wait. But these brokers give an impression that the demand is very good. Really confusing.

Anonymous said...

Please mention the location, apt complex and rate.

Anonymous said...

Never trust a realtor or a car salesman. They will always lie to make a sale.

Anonymous said...

What's a big deal about tide?

Buy one boat as well.

Anonymous said...

@anon-2:05

You used the right word when you said impression. Tell them that you have ready cash and are willing to do the deal if it comes to about 500 rs less they will mention 150 or 200..you bring them halfway down and agree at 300 rs less.

If they tell you that the other person is willing to pay 100 rs more or is happy with the current price..then tell them to go ahead and do the deal. Then wait patiently for them to call back. They might call back with some other property, but shift the focus back to the property you want. Best of Luck!!

Cool Head said...

They will ALWAYS get back to you, things may have improved on the surface but it is not really so, only a lot of bravado from the realtor lobby. Just like Anon@ 5:19 said, give them a lowball figure and see if they bite. However, you MUST give them an impression that you have oodles of cash waiting. If they feel you are not a serious guy/gal they will not get back. Right now there are more brokers than buyers, so make use of the fact.

Anonymous said...

I will be in the same boat next month, I am planning to start my hunt. What is the best way to do this in BLR. I am looking for a ready made home that is ready to move into. If the community have facilities like clubhouse, pool extra, it will be extra good.

My first aim is to narrow down a school for my kids and then look for housing close by.

Do you guys think, I should go with Ads online and newspaper or just try to hookup with a broker and look at properties. I dont beleive these brokers unless referred by a trusted friend. What is the best way to begin a search.

Anon@2:05, dont even budge, the prices still are fat. Like we discussed in other threads, price in BLR are atleast 40% inflated. Start with 40% off and then work backwards.

shayna said...

The charm of a sea facing house cannot be dampened by the odd flooding or heavy rains........them houses will always be cherished.

Anonymous said...

you said it right, it cannot be dampened. It will be washed away. The sea is encroaching the beach like never before. It is about time people woke up and stopped living in a fool's paradise

Anonymous said...

BTW, I think you should stay away from complexes with swimming pools and clubhouses.

These things are usually substandard amenities meant only to attract people and they also entail maintenance charges which become a white elephant over the longer term. Go for simpler houses..there are plenty of clubhouses and swimming pools which will become increasingly cheaper as time goes by and also not need you to fork out maintenance...

Bharat said...

For those who insist that people like me and Vulture/Shailesh others will leave, I am still here and still reading the posts. Keeping a bit busy which dissuades me from writing the longer posts I used.

Although I see some people (like BB especially), who have become educated to the nuances of compound interest and illiquid assets. I suppose this is one service the blog has rendered which no one has appreciated. I too have learnt quite a few things from others and am thankful to Vik for providing this platform.

Regards,
Bharat

Anonymous said...

i am the first ano.
thanks cool head, ano at 5:19, 12:30 pm. u guys are right. its highly inflated. i know a person who is into RE. i have approached him to take his opinion. he actually knows the actual seller. he called them directly and quoted abt 600 rs less. (more than 20%). apparently the seller bought at the same price as quoted my friend.:-)(this was in 2006 when it was at peak). i am not sure if the seller agrees to it. (he said he would get back tomorrow). even if he does, i am not going to buy. i will search for few more.. cuz am sure we will get plenty of options to chose from in the future. my friend himself is builder. it seems there are hardly any buyers. he himself has decided to get out of RE business.
so don't get fooled by the inflated price quoted.

Anonymous said...

Whole Mumbai is bound to be flooded in next 15 years time..

Hope Bindas Bhai is still reading..

Anonymous said...

TCS has around 40000 employees on bench, NOW.
I work in TCS, chennai and the figure quoted is absolutely correct.Anyone working in TCS will know it.

And the trouble is, if these 40000 employees do not find a project in the next 6 months, they will be laid off.A lot will depend on the first six months of 2010.

The future is either status quo (no growth) or layoffs. Neither of them seem attractive.

K.Gokul

Anonymous said...

Major layoffs are coming in India. This winter is going to be bad for a lot of people. Housing will suffer more this winter and eventually fall by 50-60%% in coming years.

Anonymous said...

Spoke to a friend yesterday in US and he mentioned that his whole team of 28 people got laid off due to budget issues. There were 24 Indian techies in the team. Now when they are applying for new jobs, there are firstly no openings and secondly the salaries have been slashed by almost half. The hourly rate is very low now between $15-$24 as compares to
$45-$55 earlier.

He also said that in India also there were no openings and he is stuck now with visa issues also.

Looks like there is going to be a massive supply of workers, which will down wages and salaries. You can now decide the future of housing both in US and India.

Anonymous said...

Visit this site for US layoffs:

www.layoffdaily.com

Verizon is cutting 8000 people. GE is laying off and riots in China and South Africa have started.

Hemanshu Pandey said...

Check out this video of the Chinese real estate scenario. I bet the same thing is happening all over india!

http://www.creditwritedowns.com/2009/07/hugh-hendry-china-the-emperor-has-no-clothes.html

shailesh said...

Coastal regulations poised for major changes

Anonymous said...

The china video is mind boggling!!

Basically, India is in a similar situation. With all the ghost complexes where the builders and brokers are trying to create a false scarcity game to drive up prices.

Anonymous said...

The China video is amazing indeed. Is something similar happening in India, may be ?

I'm from mumbai and have been scouting for a 2 BHK since the past 3 - 4 months in the LBS,Kanjur, Vikhroli, Bhandup, Mulund area. Sharing my exp.

I was in the bear camp, was looking for a good bargain, wanted a ready possession or 60 - 70% complete project, couldn't really trust a builder promising 20+ storey tower after 2 years, simply too much risk.

The prices currently are 5500 + for my criteria, off course new launches are available at slightly cheaper rate.

What I've come to realize is there aren't many sellers in the market right now, very few choices available for my criteria. If I look for a 3 BHK there are many choices and bargains available, but even with the bargain 3 BHK goes way beyond my budget.

Occupancy is pretty high in this area, don't know if these are owners or renters. Another thing to note there are buyers out there, people like me I guess, anywhere I went, there was a constant stream of people, and builders aren't calling back. Gundecha altura kanjurmarg for instance, I liked that project very much, he said last two flats left ... 65 lacs all incl., this was in May just after the elections.

Went there recently he said just one flat left, top floor, rate upped to 72, no bargain or adjustment, this time I was prepared for 65, he won't budge even with the cheque in my hand, says why should he sell at less, as per him, he was almost sold out, but he had unsold three BHKs (bargain possible there).

Anyways, two weeks back I finally booked at 5400 in a complex near bhandup station. (Best bargain I could land in a ready possession project).

I needed a flat, not for investment but my own use, this is the ground reality, didn't wish to go to thane ghodbunder, too far from everything and nothing available for less than 3500 (this is hearsay, I really didn't explore much there) ...

I'm not a convert yet, still feel that prices may crash, would like to keep some money around for that scenario (Like @Vulture I guess) but at this point things seem to be improving, infosys and TCS results have been better than expectations,
industrial growth numbers were better than expected,
builders are getting QIPs, builders haven't gone bankkrupt, if only HDIL, DLF or Unitech
could have gone bankrupt, I'm certain there would have been a crash .... isn't happening ... on the contrary Lodha is buying land at exhorbidant prices .... btw Lodha is building a 42 storey tower near bhandup station, prices start at 1 crore a pop ... I really wonder who is buying .... 11 slabs already completed .. I think the bubble is getting fuelled again .. may be it will burst at some point ... question is when.

Anonymous said...

The TCS bench figure in percentage is a tad over 30%.Everyweek we see a few people missing.Maybe they leave because they get another job, but I doubt it.

The procedure is you would be called to HR and given a choice.You can either resign giving a resignation letter dated a month before and stop reporting to work from the next day. Or you will be fired when they will give you a month notice.Mostly people do not want to be fired, so they give in and go for thw first option.

As I said, things are are far from pretty.Its time to tighten the seatbelts and brace yourself for a hard ride, the outcome of it,uncertain.
The first six months of 2010 is quite scary. If things dont improve, a lot of people are going to be laid off. A LOT.

K.Gokul.

Anonymous said...

Anyone interested in seeing the real facts about US economy? Complete and true facts. Great compilation. You can download the PDF in the below link
People who are seeing Green shoots must see it. Good luck.
The End Of The End Of The Recession

Anonymous said...

Govt. Gives Subsidy on Home Loans

http://economictimes.indiatimes.com/Personal-Finance/Subsidy-on-home-loans-up-to-Rs-10L/articleshow/4827837.cms

So I stand justified. All dreamers on this blog you loose the race.
Now that govt. has given this subsidy expect at least 30% hike in property prices within a year.

Bindas Bhai said...

Prices wont increase because of Govt subsidy of 1%. It may give impetus to the economy.

We need to wait and watch.

Bindas Bhai said...

Revival in capital inflows on the cards

BS Reporter / Mumbai July 28, 2009, 0:19 IST


The Macroeconomic and Monetary Developments — First Quarter Review 2009-10, released by the Reserve Bank of India (RBI) today, suggests a revival of capital flows.

This is because of India’s relatively better macro-economic performance in 2008-09 on the back of various fiscal and monetary stimulus measures and global investors’ perception about India’s growth potential.

Portfolio investments — comprising mainly foreign institutional investments and issuance of American depository receipts/global depository receipts — led to largescale outflows, mainly on account of sale of equity by foreign institutional investors (FIIs).

Net external commercial borrowing (ECB) inflows slowed as disbursements more than halved from the previous year’s level, reflecting transmission of shocks from the credit freeze in advanced economies, said the RBI report.

Despite the higher net inflows in NRI (non-resident Indian) deposits following hikes in ceiling interest rates, banking capital flows turned negative, mainly due to outflows on account of foreign assets of commercial banks and overseas borrowings.

The report said financing of short-term trade credit was not a significant problem in India, contrary to the market perception, as gross disbursements reached $39.7 billion during 2008-09 (they were $48.9 billion in 2007-08). This was facilitated by various policy measures such as hike in the all-in-cost ceilings for trade credits of various maturities.

It further said that the impact of an unprecedented external shock on India’s balance-of-payment (BoP) situation was managed with a reserve loss of only $20.1 billion, without resorting to any extraordinary measure. In fact, the capital account was further liberalised in certain areas such as outward FDI (foreign direct investment) and buyback of FCCBs (foreign currency convertible bonds), RBI said..

During 2008-09, India’s foreign exchange reserves declined $58.0 billion, down from $309.7 billion at the end of March 2008 to $251.7 billion at the end of March 2009. Of this, $37.9 billion was on account of valuation changes and the balance, $20.1 billion, reflected the financing needs of the BoP.

After recording deficit in three successive quarters of 2008-09, the current account in India’s BoP turned surplus in the last quarter. The negative growth in exports that had started during the third quarter of 2008-09 became more pronounced in the fourth quarter (-24.2 per cent).

Incidentally, the import growth also turned negative (-27.3 per cent) during the same quarter after a gap of almost seven years, driven mainly by lower crude oil prices and lower non-oil imports mirroring subdued domestic economic activity. As a result, the trade deficit moderated during the fourth quarter of 2008-09

During 2008-09, India’s external debt increased by $5.3 billion (2.4 per cent) to $229.9 billion at the end of March 2009 over the level at the end of March 2008. This was essentially due to increase in trade credits. Long-term debt increased $2.9 billion at the end of March 2009, mainly due to increase in buyers’ credit.

Debt sustainability indicators remained comfortable at the end of of March 2009 since the debt service ratio, which has been declining steadily over the years, stood at 4.6 per cent at the end of March 2009. The ratio of short-term to total debt, however, increased marginally to 21.5 per cent at the end of March 2009, from 20.9 per cent at the end of March 2008.

http://www.business-standard.com/india/news/revival-in-capital-inflowsthe-cards/365080/

Anonymous said...

Oh my my.

The @$$hole Bindas Bhai is back on this blog..

What about your promise of never coming back in this forum?

So your Builder 'Friends' started paying you again?

Anonymous said...

Hey Vik

Please remove the Post by Anon @ 9.43 PM

He is abusing people. The environment is again going back to what was during Bindas Bhai days

Anonymous said...

BB, you promised you would not post if prices dint rise by 50% in 3 months, this was 3 months back.
so please stick to your promise :D

Anonymous said...

I think many people did not read the fine print in the stimulus package of 1% subsidy of interest. It is applicable to only houses that cost LESS THAN 20 lakhs. So in order to take advantage of the stimulus will the RE lobby reduce the prices to les than 20 L ? What happens to the "investors" then?

Anonymous said...

Someone wrote 18k people in bench Infosys and 30k in TCS. Is this true?
If yes, how can they afford to keep that many people withought work?
I am just curious to know

Anonymous said...

interesting information on the current FD rates - http://economictimes.indiatimes.com/quickiearticleshow/4828459.cms

These are pre tax returns...I didnot know that they fell by 3 %... Still my housing loan int rate is 11.25 %

Chanda kochhar this is too much of net interest margin


Interesting interview by Raghuram Rajan - Good one...

Anonymous said...

http://www.moneycontrol.com/news/video/newsvideo.php?autono=408000&part=2&con=next

This is the interview of Raghu ram...

Anonymous said...

Anon at 11:19:

TCS and Infosys and other major IT employers: They all have a lot of people stting on bench. TCS didn't even apply for any H-1B visa this year in US. They are just eating from exisitng last year's projects. After August 2009, they will lose many of the last year's projects too. It is going to get really ugly as employees are now used to this kind of salaries and expenses. On the other hand, these comapanies are quietly laying off people to prevent their stock prices and also hiring fresh grads at lower salaries to look nice in media and public.

Moreover, the hourly rate that US and European companies used to give is being slashed to 60-70% of last year's rate. The stock rally of the last 4-5 months will cool down as the US comapnies never were in profit. They just cut expenses by laying off people and added stumulus to show profits.

Q3 is going to be really ugly all over. If Foreign investors start withdrawing money from BSE, the Sensex will fall by at least 4000-5000 points.

Anonymous said...

All:
What I find surprising is that when the house value goes up from 20 lacs in 2003 to 1 crore in 2009, why can't people think that it is "Too good to be true". It is like 11-12 lacs of appreciation per year or 1 lac per month.

People are blindfolded and Govt. is trying to defend it. And salaries, how could they go up from someone making 10-15K per month to around 1.5-2.0 lacs per month. It could be possible in cases where the right person was at the right place due to skill set needed. This is the story with whole IT, Finance, Construction, Investment etc industries. Salaries were rising like 20-25% per year. Again, too good to be true especially when countries like US has not seen middle class salaries increase by more than 2.5%per year since 2000.

Anyway, let's wait and watch. Looking at the private sector, Govt. also rushed into the higher pay commission which would just put them in more deficit.

Anonymous said...

CIT in the US will go down soon and that would be like Lehman of last year. And Q3 would be all red all over.

Anonymous said...

Why Saving Paradox is hurting economy?

Corporate saves by cutting employees but the same employees are the customers for other businesses.
Household saves by cutting back on spending, it means less business for corporate.
Current corporate earnings are showing good numbers due to cost cutting activities not due to revenue growth. This means economic activities are resetting at lower rate. Worldwide govt. is supporting the RE bubble & creating much larger risk for economies. US govt. is providing 8 K incentives for 1st time home buyer, in India loan @1% interest for 1 year etc.
This is the same case as blood cancer patient, who can survive for years by blood transfusion. But everyone knows how strong he will be.

Do you think the unemployment & wage growth will come back soon to support the RE?

If there are such good sales, why agents & builders will be wasting time on this blog?
Yes, in frustration people do abuse & loose control.

So guys let it fall then only pick up, minimum 50% price cut is guarantee.

Vulture.

Anonymous said...

Vulture:
Australia is providing 21,000 dollars for buyers. They are sitting cozy unaware of the massive problem ahead of them.

Anonymous said...

A few facts about TCS

Employee strength in 2009 March 143000
Employee strength in 2008 115000
Employee strength end of this quarter 141642.

In the fiscal year 2009 they have added 40000+ employees, most of them freshers btw. Fresher utilization is 71 % and experienced personnel utilization is 79 %. (From Earnings presentation www.tcs.com).

44 % of the workforce has less than 3 years work experience.

This is how TCS works, they save costs by hiring huge number of freshers, who btw sign a 2 year bond at the time of joining. Utilization levels are low initially for freshers, but that pays off in the long run.

Employee headcount at the end of june quarter is 141642, if the situation was so bad then there would have been mass retrenchment it's only 1500 - 2000 odd less than last quarter.

Guys get the facts right, stock market has also given TCS a thumbs up.

From an Ex-TCSer

shailesh said...

India's first housing price index


NHB Residex is based on actual transactions prices. Initially, it covers residential properties. Year 2001 was taken as the base year for the study and year-to-year price movement during the period 2001-2005 were captured, and subsequently updated up to 2007. NHB Residex has been expanded to cover ten more cities, viz, Ahmedabad, Faridabad, Chennai, Kochi, Hyderabad, Jaipur, Patna, Lucknow, Pune and Surat. At the time of last updation and expansion of coverage of NHB Residex to 10 more cities, the base year has been shifted from 2001 to 2007 and has been updated up to December, 2008, with two half yearly updates (Jan-June and July-Dec) during 2008.

In the compilation of NHB Residex, the cities/towns have been divided into tax/administrative zones/municipal wards or any other criteria according to availability of the data for different cities/towns. The lowest level of the stratification has been the colonies/localities. In order to ensure true representative character of the index, the housing units are grouped into three categories based on built-up area — less than 500 sq ft, 500-1,000 sq ft and more than 1,000 sq ft.

Data on housing prices is being collected from 20-30 colonies for each city/ town, which are fairly distributed across all the tax/administrative zones. The sample size of price observations consists of 500-600 observations for each city/town. The index has been constructed using the weighted average methodology with Price Relative Method (Modified Laspeyre’s approach). For the present NHB Residex is proposed to be updated on half-yearly basis.

shailesh said...

FM's new subsidy prompts realtors to promise more sub-Rs 20 lakh homes

The finance minister had said there would be an interest subsidy of 1 per cent for one year on loans up to Rs 10 lakh for properties worth less than Rs 20 lakh. This is expected to boost this housing segment.

Developers such as Unitech, Omaxe, Puravankara, Lodha Developers and Ansal had already moved into the sub-Rs 20 lakh category, as the economic downturn, coupled with fear of job losses and salary cuts, slowed sales of premium housing projects, lowering their cash flows.

Anonymous said...

TCS and Infy have been recruiting people in the belief that more is better than less, when the economy is turning around.

But the fact of the matter is, economy is not turning around any time soon.Thats the problem.

And mreover, nobody here said that TCS and Infy is in trouble right now. But it will be in the first six months of 2010, if the economy doesn't turn around. And there are every indications that economy will not turn around in the near future in spite of "green shoot" dreams.

K.Gokul.

Anonymous said...

Some more facts about the business model TCS and other IT Cos. use:

--Use workers on illegal visas like B-1/B-2.
--Lie on ($$) contracts in US to win them and then take the work to India by displacing US employees.

The whole model is based on cheap labor dependent on visa availability. No innovation.

Anonymous said...

Ex-TCSer:
Stock market is India is not run by Indians anymore. It is at the mercy of foreign investors. They can cash out and crash the market anytime.

As far as TCS is concerned, it will have a count less than 100K pretty soon.

Anonymous said...

Vik,

If you delete this without deleting other comments which are against the bulls this blog is going to get messed up in big way.

Choice is yours.

Vik said...

am just deleting posts with foul language irrespective of if the post is bearish or bullish.

Amit said...

BSE Sensex extends losses to 2 pct
Wed Jul 29, 2009 12:06pm IST Email | Print | Share| Single Page[-] Text [+]

1 of 1Full SizeMUMBAI (Reuters) - Indian shares extended losses to 2 percent in midday trade on Wednesday on waning market momentum across Asia and as weak results from Reliance Industries and Hindustan Unilever hit sentiment.

At 11:55 a.m., the 30-share BSE index was down 1.8 percent at 15,053.54 points, with 27 stocks declining, after falling to as much as 15,009.09.

The 50-share NSE index was down 2

Amit said...

Bubbly markets are OK while Asia waits on exports
Wed Jul 29, 2009 1:03pm IST Email | Print | Share| Single Page[-] Text [+]

1 of 1Full SizeBy Vidya Ranganathan

SINGAPORE (Reuters) - Ignoring increasingly frothy asset markets may not be the most prudent strategy to adopt when the world is still healing from a financial crisis, but Asia's monetary authorities seem set to do precisely that.

Awash in cheap cash that central banks and governments have pumped into the ailing global economy, the prices of shares and property have jumped to levels that belie weakness in other parts of Asia.

House prices in Singapore and Seoul are estimated to have jumped 10 to 40 percent in the past year or so, while their stock markets have climbed by some 50 to 80 percent since March.

Both economies bounced back in the second quarter, Singapore from its deepest recession on record, yet it was a patchy

sumee said...

Vik, please delete the spam comments by Amit, hes just copy pasting irrelevant news articles. thanks.
I again suggest you to start moderating before the comments appear. some people are taking undue advatage of this blog. if you want I can help you in moderation. How do I contact you ?

Amit said...

Hi All,
I am from Bangalore. Met some brokers this morning. They were of the opinion things are improving. They admitted that a few months ago, it was worse. They showed me a couple of properties. They claim there are a few more people who saw the same property and it might get sold any time. When i asked the possible final price from the quoted price, they said about 100 rs per sq ft can be bargained. I am wondering if they are telling the truth or its just the trick. It is very much affordable to me although i would have liked it more had it been about 300 rs/sqft lesser.
Do you guys think the price will remain more or less the same (for the next 6 months) if not any fall from here?. If it remains the same i can wait. But these brokers give an impression that the demand is very good. Really confusing.

2:05 AM


Anonymous said...
Please mention the location, apt complex and rate.

3:00 AM


Anonymous said...
Never trust a realtor or a car salesman. They will always lie to make a sale.

6:29 AM

Amit said...

Repeating old comment on Builder's demand.

The below content is not only important to Real Estate Buyers but it’s very important for every Citizen Of India.

As per the RBI analysis, they found bubble in real estate in 2006 & consequently asked banks to reduce the exposure to this sector. Banks tightened the lending norms gradually since 2007.
In 2008, when the bubble has reached at its peak, why RBI is relaxing the lending norms to real estate? It’s a clear sign of systemic corruption in India. Yes, the finance minister asked the RBI to do so. What will be the implication? The toxic illiquid housing debt will come on the balance sheet of Banks which will cause a Banks failure in India same as US. [ Banks will lend money to buyer to buy the house at inflated price , buyer will default & as the house price is much below even after liquidation bank will incur losses.]

Once banks will start failing, whole economy will be in trouble. Then under the pretext of economy saving, they will use tax payer money & print money to save these banks.
What is the effect of printing money? It will increase the inflation & every one has to keep paying high taxes to support the housing which they never bought. Cause on your rupee note the Governor of RBI has promised to pay the debt, on your behalf but without your consent.

If your will compare the scenario, it’s a same as US but one major difference. In US when the bubble busted at that time the housing assets were on the bank’s balance sheet. The real estate companies managed to sell majority of the assets to home buyer who took housing loan. So it’s became problem to Banks & home buyer.
NOTE: There is no Major real estate company failure in US.

But in India still lot of housing is owned by real estate companies, who are desperately trying to pass on this toxic to buyers & banks. The RBI policy change is nothing but the corrupt political decision for builder.

Even after the policy change the greedy Builders were not satisfied & they are demanding to Govt. to buy the pending houses which cost 50 Lakh & above out of public tax money or by printing more money.
--DLF is demanding 8% interest rate. Is DLF is going to decide interest rate in this country? Interest rate is used by RBI to fight against inflation.
---When inflation is still at 7%, why RBI is easing the liquidity?

Guys, please pass on this information to every body & stop the systemic failure in Economy. The systemic failure in economy will result in dire consequences like great depression

Vik said...

Amit : Please post articles of relevance to the blog. Do not spam the blog with articles about cancer/boyfriends etc. There are other places where you can discuss those. I have to spend 10 minutes cleaning up.

Pankaj said...
This comment has been removed by the author.
Anonymous said...

I would say...the realtors as well as blogs like this are creating confusion among buyers, There was no need to compare global warming & reality, BMC had issued warning for tides, cause they were expecting rains also with the tides, with which the rain water would have flown back.
Even Florida is hit by various storms & warnings are issued there.No body sells or vacate sea side house for a day or 2 storm in an year, Sea side houses are always preferred all over world.
I would request Vik to accept that prices do rise also. the best example is , In Mumbai the prices of Flats in suburbs rose 10 times in 20 years, which will happen every 20 years, the bubble bursted & so there will another bubble coming after few years...this has been a trend, Your blog is for people who will never afford to buy a house thinking its high time. Let the market drop....which had dropped to its lowest level prior elections.
So people!!!! the best time to buy a house is to buy when u need one. Dont consider it as an investment if u plan to live in it.

Ashish said...

They say it’s the last sea-facing property available in Kochi? Do you guys think its true?

The DLF Group has now come up again with its new luxurious project Bay View at Marine Drive, Kochi. The project has been developed along with Shonmugom Road and Marine Drive Walkway just opposite the High Court which connects it to the city centre. The location is on the Waterfront to Kochi Harbour.

Visit http://dlfindia.in/ for more.

rajni sharma said...
This comment has been removed by the author.