Tuesday, August 18, 2009

Reality Expo-2009 gets good response

Deccan Herald reports. Does anyone think the Times of India article on saturday will be any different ?
The exhibition, that has stalls of around 30 developers and housing finance institutions, is expected to have more than 7,000 footfalls.

The rush to own homes in Bangalore was evident at the registration counter, as Karnataka Ownership Apartments Promoters Association (KOAPA) kicked off Reality-2009, its two-day real estate exhibition, on Saturday August 15th, 2009

The exhibition, that has stalls of around 30 developers and housing finance institutions, is expected to have more than 7,000 footfalls.

It will continue at the Grand Ashok on Sunday, between 10 am and 8 pm. The registration fee is Rs 50.

The exhibition features a huge project map of Bangalore City with the various properties of the participating builders marked on it. All the top-of-the-line industry players — including Total Environment, Golden Gate, Sobha Developers, Vaswani Estates, Mantri Developers, Gopalan Enterprises, Puravankara Projects, Brigade Group, Ranka Group, Vakil Housing Development Corporation and Kristal Group — have put up stalls at the venue.

Upcoming high-end projects, including Mantri’s Espana and Purvankara’s Venezia, had many enquiries on the first day. The stall put up by Total Environment — highlighting the use of natural materials like wire-cut bricks and exposed form-finish concrete — also got the visitors coming in. Some of the visitors found the prices steep, but were content with the choices on offer.

“The exhibition helps in keeping a tab on the actual property prices in Bangalore. The different finance options under one roof, also help the decision-making easier,” said Deepan, a chartered accountant.



Finance options

The developers are also offering financing options in association with many banks. That apart, LIC Housing Finance, ICICI Home Loans and HSBC have put up stalls at the expo. “We are offering a flat rate of Rs 5,000 as processing fee, and not the normal rate of one per cent of the loan amount taken. If the documents are pucca, we are also offering spot loan approvals,” said Sridhar, Area Manager, LIC Housing Finance, that also sponsors Reality 2009.

“The event offers a great opportunity for the buyers to avail competitive prices and special offers by builders and financial organisations,” said Mr Balakrishna Hegde, President, KOAPA. The expo was inaugurated Mr S K Mitter, Director and Chief Executive, LIC Housing Finance Ltd.

15 comments:

Anonymous said...

Some of the visitors found the prices steep , but were content with the choices on offer

what the heck is this ?

Venkat said...

for 50 lakhs who gives 50K as interest? I deposited in ICICI and the current fixed deposit interest rate for 1 year is 6.5 %.. I have a housing loan where they charge 11.25% - 4.75 % spread... Its very hard for icici bank to fall... One should have bought the stock at Rs 300..

Coming to the USA front - i rent a 2 bhk apartment in Pleasanton, CA for 1575 $... I see rates for 2 BHK house in place like Alcosta Blvd in san ramon at 175 K... with 4.5 % and property tax + HOA charges the total cost per annum will be only $ 10,500... One will also get a tax benfit of 2K atleast... It makes great sent to buy apartments at this price... I still did not get my 140 approval... Else i will buy the same...

Mortgage less than rent - How is it?

venkat said...

I was unable to put my comment on the earlier topic... for 50L one will get a interest of 3.25 Lakhs and after tax one may get only 2.5 Lakhs..

I am not supporting purchasing houses...But i want people to be realistic on the interest rate expectations... as i mentioned earlier the sceanario like USA is best... Mortgage less than rent payment :-)

If you are doubting the prices i can upload the apartments in offer from my realtor

Vik said...

Venkat:
please post the details. I have seen many houses in florda with a payment of 600$ when the rent is 1200. these are crazy times

Anonymous said...

The major villains of this game are lenders i.e. aka banks, banksters. These are the people who hand out our hared earned money ( taxes  loan from Central bank on very low rates, deposits, ) to the crooks aka builders and make us work whole life just to pay EMIs. Just check what is happening in case of HDFC. On one hand the chairman of the HDFC group, Deepak Parekh has been shouting from the roof top about the housing bubble but on the other hand they are doling out the huge loans to the builders. These dacoits are far dangerous than the petty thieves i.e. real estate brokers. They are just the front men.


It is well that the people of our nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
- Henry Ford

"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation."
-John Adams

"But I know nothing more important to inculcate into the minds of young people than the wisdom, the honor, and the blessed comfort of living within their income, to calculate in good time how much less pain will cost them the plainest stile of living which keeps them out of debt, than after a few years of splendor above their income, to have their property taken away for debt when they have a family growing up to maintain and provide for."
- Benjamin Franklin

Anonymous said...

Looks like the RE guys are split between CREDAI and Times. On the same day; Times conducted another expo at Palacae grounds. Times had organised a expo in July 3 rd week and it again organised this without any entry fee at same time as CREDAI.

Anonymous said...

Venkat, why FD with ICICI, they are crooks.

I have FD with Axis bank and I get 7.5% / annum

Anonymous said...

@RKA

Sorry for late reply, cant spend much time on internet for obvious reasons. :)

I do agree that electronic media influences people while making a decision. But up to certain extent.

If a person when investing more than 25-50 lacs, if he goes by whatever blog or columnist says. No matter what bears try, he will get manipulated by brokers or builder no matter how.

If I am investing in chembur, I take BB's comments as just a point, I do the ground work check the reality before buying.

The point is if a buyer gets manipulated by reading comments, he will get cheated no matter how.

Thats all the point was. I rest my case here.

GK said...

If you are going to bank FD the rate will be lower. The tata and L&T NCDs are way better. They are trade-able in stock market and hence and cash out at any point in time. Their rates are touching or exceeding 10%.

Also as a company tata and L&T are way better than icici. So why sweat with icici FDs?

Bindas Bhai said...

Vik,

Somewhere i feel we are underestamating Indian economy potential.

I really trust BS and would request you all to look at this.

B-schools see surge in pre-placement offers

Pradipta Mukherjee / Kolkata August 19, 2009, 0:41 IST

http://www.business-standard.com/india/news/b-schools-see-surge-in-pre-placement-offers/367430/

Anonymous said...

These B-Schools Graduate are fools. Instead of wasting 2 years and 10 lakh ruppes for an MBA they should buy a commerical property and earn rent from it.
Bindaas Bhai will teach them how to save tax through rent discounting. Hehe he. From rent money they should buy a flat as it will double in minumum 3 years.
These young people donno how to manage the career. Should learn from BB.

Anonymous said...

BB Please ignore this guy, he is a mentally challanged. Poor fellow!!

Anonymous said...

Satyam to sack chunk of seniors
Wednesday, August 19, 2009 3:08 IST

Hyderabad: "Either you leave or we will make you leave."That's the message the new management of fraud-hit Satyam Computer Services -- or Mahindra Satyam as it is known now -- is sending out to at least 900 senior employees in the rank of general managers, senior managers, assistant vice-presidents and vice-presidents, according to sources.

Anonymous said...

Exports fell 26% in July: Trade secy
Business Standard Reporter / New Delhi August 19, 2009, 1:12 IST

Continuing a downward trend for the tenth month, export of goods from the country witnessed a decline of over 26 per cent with global markets still under the grip of slowdown.

“Exports were 26 per cent lower as compared to July last year. The bad run continues,” said Commerce Secretary Rahul Khullar. According to early estimates by the commerce ministry, July exports were recorded at $12.5 billion, compared to $17 billion in the corresponding month a year ago.

Cumulatively, exports fell 32 per cent in dollar terms in the April-July period in 2009 to $49.25 billion from $72.5 billion in the same period last year.

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