Wednesday, September 30, 2009

Mantri developers interview with NDTV

Sushil Mantri of Mantri developers speaks to NDTV and makes some good points about the Indian housing market. I like the spin he puts on the market to entice the buyer back into the market. He believes that 80L is unaffordable however 40L is affordable. He also thinks that Mumbai is highly speculator driven market.

8 comments:

Anonymous said...

By BOB DAVIS

ISTANBUL — Rising global securities prices reduced the International Monetary Fund’s estimate of bank losses, but banks around the world — especially in Europe — still are likely to face additional write-downs of $1.5 trillion by the end of next year, the IMF said.

Overall, the IMF calculates that the global financial crisis will produce $3.4 trillion in losses for financial institutions, between 2007 and 2010, a chunk of which already has been recognized. That estimate is $600 billion less than the IMF forecast in April, largely reflecting an increase in the prices of securities held by financial institutions since then.

Anonymous said...

Assume 1/2 of those come from USA and that is around $1.7tn. $700 was given by US govt towards recapitalization and $1.5tn was printed by Federal Reserve of USA. It is back to normal (highly speculative use of credit) and may be commodities, stock markets, junk bonds indicate return to normal. It is time to stop being bearish on any asset market.

Anonymous said...

Excellent video... Will this ever happen in India!!!

Video

Anonymous said...

http://economictimes.indiatimes.com/opinions/msid-5070182,curpg-2.cms

Interesting comments. Should be noted.

Anonymous said...

Video me jo item hai na , kya matak rahai hai ! Lagta hai ki ye koi naya movie ka mahurat shot hai.

Anonymous said...

i feel he is not making much sense. just trying to deny the inevitable. people have stopped buying period. i have close to 50 friends in the age group of 28-35 and everyone has an intention to buy but they are just not able to find the price to buy. besides we have seen how recession can change your life in a single day. the job risks , the stagnating salary. when he makes a comment that IT folks are not forthcoming these days that implies the party is over. bakras are non existent in today's market.now with a level playing field with IT professionals, BPO folks , manufacturing guyz and govt sector employees making similar amount of salary it leaves noting to guesswork. 20-40 lakhs would be affordable and anything beyond that is reserved for DINK , people with affluent parents and few folks who had the opportunity to make 20-30 lakhs abroad. sadly the latter portion is not a great portion and now with people deciding to buy houses once they have children the approach becomes even more conservative. i strongly believe we will start to get good apartment 1000-1200 sq feet in good areas for 30-40 lakhs and luxury ones 1600-2000 sq.fet ( sans swimming pool and gym) for 70-90 lakhs based on today's rupee value. if inflation increases to a point where 30 lakhs toda is equal to 60 lakhs 4-5 years down the line then we can just multiply by 2. i see india's fiscal deficit as a major factor. the combined profit making of FIIs in stock market followed by interest rate hike and commodity inflation and banks issing ultimatum to builders on repayment will sound the death knell. it should happen in 2-3 years, if we have patience till then i think we should be good.

average indian buyer(AIB)

Negotiation said...

Project: Mantri Tranquil
Once the building construction was completed till J block, people were allowed to register and shift in. Once people started shifting in, they started K Block construction near to J block, Initially the construction timing was very erratic and was continuing post mid night, later they agreed to have a 12 hour shift.
Till date the timings have not been met. It causes a lot of noise pollution during the night and the mantri management has adapted a deaf ear to this.

rajni sharma said...

Hey this is really very nice post...
Nd one of your best post...Thanks
Flats in kolkata