tag:blogger.com,1999:blog-19740856.post8552182486077737930..comments2024-03-28T23:30:16.420-07:00Comments on India's housing bubble: Land sharks grab land in AlibaugUnknownnoreply@blogger.comBlogger91125tag:blogger.com,1999:blog-19740856.post-53593023375705278722016-09-12T02:42:30.478-07:002016-09-12T02:42:30.478-07:00Stay connected with nature.
Your house, close to t...Stay connected with nature.<br />Your house, close to the beach! Premium apartments with luxurious amenities.<a href="http://www.paradisobay.com/" rel="nofollow">alibaug property for sale</a>Meenal Tylerhttps://www.blogger.com/profile/02168199276981898611noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-8032886722122746312010-04-26T08:46:43.880-07:002010-04-26T08:46:43.880-07:00NT here.
Forgot to mention one important thing gu...NT here.<br /><br />Forgot to mention one important thing guys - had looked at Park Street Sapphire Park as well in April'07. Rates quoted were INR 2700 - 3100 base plus a lot of extras; some of it was Greek for me. Liked their phase I Ruby Park in ready possession but rates were high. All in all felt that this was going to turn out to be a concrete jungle. What's the point of having and paying for a 60 X 20 feet swimming pool with a significant portion of the 800 families and their kids would also want to jump in; a clubhouse where I will have to wait for 2 hours in the queue to await my turn on the Treadmill/Elliptical.<br />So gave up on that.<br />Thanks:-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-55676315584532369652010-04-26T08:35:49.048-07:002010-04-26T08:35:49.048-07:00Jayant @7.15, DhlmAn @12.47
As I already mentione...Jayant @7.15, DhlmAn @12.47<br /><br />As I already mentioned I bought in a resale so INR 3100 is an all inclusive rate - MSEB, Club, Parking. Paid only Registeration & Stamp Duty over and above this which you guys know but just mentioned.<br /><br />Infact I paid this rate coz its an excellent product, should classify as a Premium Property and would rank at number 1 in the vicinity. Rates in the surrounding areas were hovering around INR 2600 - 2800 all inclusive for under construction and 2800 - 3000 for ready possession properties when I bought last year.<br /><br />I think the problem with many is they will plan and strategize, do a lot of research if they are buying the lastest LED Flat Panel TV, nothing wrong with that but when it comes to buying a house they become gullible. I have seen many getting influenced and making impulse purchases. Mostly by the crafty Builders and their teams who hallucinate buyers. The poor innocent buyer gives into their spells as he envisions his dreams getting fulfilled. Enough of this consumer mindset thing for now but here's something more interesting to my story.<br /><br />I began looking seriously at Pune from an Ad in a leading Bombay Newspaper for Paranjpe Magnolia in June'2006. The rates quoted were INR 2600 then and I loved their layout, had heard only good things about Paranjpe but I had some personal financial issues so could not make any commitments there. It got sold out and then began looking at Camellia and Crystal Gardens but never liked them so much. Also, at the back of my mind I wasn't ready to commit as I believe in - Maal deekhao, Paisa lo.<br /><br />Come April'07 I got interested in Palash 1.0 but again it was just starting construction. Then I went around sight-seeing and saw Kumar Shantiniketan - how could people pay INR 3000 base rate to the most crappy layout is what I left that place feeling. There was just around 1 1/2 building constructed if I remember right and I thought living there we could know each day what ingredients went in cooking the daal at our neighbours place in the adjacent building.<br /><br />And to answer your last question - I had been saving for a few years so I could have easily paid even 50% of the property down but have invested in Agricultural and NA Land in other places(values quadrapuled so far in 3 years). Land with 7-12, fencing, clear titles, etc etc.<br />I too don't believe in Paper Salaries, read CTC. I believe in hard currency, the one that gets deposited in your bank at the end of every month - that is what your salary is. I am not stretching myself at all on the EMIs.<br /><br />I had written two pieces on this blog early last year urging all serious buyers to think through and zero-in on their dreams. Hope that many gave it a serious thought. <br />Cheers,<br />NT (Neutral Territory)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-31828882983828923972010-04-25T21:41:04.007-07:002010-04-25T21:41:04.007-07:00some people never grow upsome people never grow upAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-37552622297642504542010-04-25T21:40:27.757-07:002010-04-25T21:40:27.757-07:00Some people never grow upSome people never grow upAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-88699699056803182372010-04-25T17:00:24.328-07:002010-04-25T17:00:24.328-07:00SUNNDDDDDAAAAASSSSSSS BHAAIIIYEEE!!!SUNNDDDDDAAAAASSSSSSS BHAAIIIYEEE!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-77393601055423554202010-04-25T16:59:22.167-07:002010-04-25T16:59:22.167-07:00Anon@7:16
Depends on whom you ask the question. I...Anon@7:16<br /><br />Depends on whom you ask the question. If you ask the likes of Sundaas Bhai, they will advice you to invest in Chembur area...where you will easily get 30% compounded annual growth over the next 10 years.<br /><br />Of course omitting to say that if you invest 10 L in such a fashion you would get 1.8 cr!!<br /><br />If you ask someone else, they will tone their answers depending on how they can get some benefit from your money...Its like a wise man said - never ask a barber whether your hair needs cutting...<br /><br />Make your own decisions or the sussuu's and sundaas bhai's will have you for a snack.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-58030017608039055612010-04-25T12:47:33.274-07:002010-04-25T12:47:33.274-07:00Well, Jayant asked the questions that I wanted to,...Well, Jayant asked the questions that I wanted to, so - we are waiting, NT.<br /><br />And Bindas Bhai - where are you? I was expecting a response from you...DhImAnnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-77158188388906936832010-04-25T07:16:03.879-07:002010-04-25T07:16:03.879-07:00If you had extra money to invest in India, where w...If you had extra money to invest in India, where would you put it? Stock market, gold or real estate? There are lots & lots of people with extra money, what are they to so?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-68288716762478971842010-04-25T07:15:17.038-07:002010-04-25T07:15:17.038-07:00@NT 6:07 AM
You have not answered the following c...@NT 6:07 AM<br /><br />You have not answered the following critical question<br /><br />What is your monthly salary (not the fake paper salary showed on the offer letter) and how much is the EMI? i.e. the salary component towards this monthly obligation?<br /><br />What is the "TOTAL" cost i.e. flat price+ Parking Charges + MSEB onetime payment etc?Jayantnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-28375617412687641012010-04-25T06:07:22.837-07:002010-04-25T06:07:22.837-07:00DhlmAn,
Cash outright? Even if I had that much I ...DhlmAn,<br /><br />Cash outright? Even if I had that much I would not buy it that way. Bringing in a bank (like SBI, BOB, etc.) brings the security of due diligency and security.<br /><br />Anyways, I am salaried and so had to do a 25:75 myself and bank resp.<br /><br />It was brand new unoccupied which I bought as a resale.<br /><br />I took the loan from SBI on 8, first year and 8.5 2nd and 3rd. I am also using their Maxgain facility whereby one can deposit surpluses to reduce interest burden on their housing loans.<br /><br />DhlmAn I know exactly where you are coming from when you talk about looking at my purchase as a Case Study. You want to understand the psyche and thought process that goes in when salaried individuals make these decisions so am with you on that.<br /><br />Even I have the same fears - job loss, salary correction etc. but you know what, I made two big mistakes of not buying in 2004 haggling on price, worrying about EMIs, etc and in hindsight I would have fully paid those houses had I started then.<br /><br />The rate I paid last year was INR 3100 all inclusive in North-West Pune. Though I am not an investor, I do know that the good Investing Champions of the World are more worried about the downside when making a bet. I think I covered myself very well there, it can never go there in this lifetime.<br />Upside, feels nice but I don't care much now.<br />Here is why I think that INR 3000 is a Resistance Level for ready-possession good properties:<br />Labor, Cement, Sand, Interest Costs, and thousands of other costs will never allow prices to come below this level. Mind you, I am not talking about the Land Costs at all!<br /><br />Cheers,<br /><br />NTAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-85333093500276841482010-04-24T22:39:13.995-07:002010-04-24T22:39:13.995-07:00The US homebuyers who defaulted on the loans or si...The US homebuyers who defaulted on the loans or simply walking away are splurging on the goodies. How long will this charade go on? In the process who toiled hard throughout the life are getting shafted.<br /><br /><br /><a href="http://www.marketoracle.co.uk/Article18787.html" rel="nofollow"> Rotten Sham Recovery </a><br /><br />More evidence has arisen that the "strategic default" consumer spending thesis is correct - and that the economic recovery on the whole is based on a rotten sham.<br /><br />The economic "recovery" we are now witnessing is based on <b> theft, greed and deceit.</b> It's a giant rip-off, a rotten sham. In this sleazy imitation of a free market economy, liars, cheats and deadbeats are the ones getting rewarded.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-45397120942348491392010-04-24T21:03:44.940-07:002010-04-24T21:03:44.940-07:00http://epaper.livemint.com/ArticleImage.aspx?artic...http://epaper.livemint.com/ArticleImage.aspx?article=24_04_2010_010_005&mode=1Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-50228364551060772862010-04-24T14:06:41.261-07:002010-04-24T14:06:41.261-07:00Congratulations for buying your dream flat, NT. I ...Congratulations for buying your dream flat, NT. I agree, Bindas Bhai made a good call.<br /><br />Do you mind sharing the price, your loan amount, interest rate, duration of loan and your monthly income? Or did you just pay cash outright and buy it?<br /><br />I just want to find out how affordable the flat is for you. Kinda like a case study.<br /><br />In my book, if:<br /><br />1. You have ready cash - black or white, I don't care;<br /><br />2. This is going to be your primary residence;<br /><br />3. You don't anticipate having to move away from this city over the next 5-10 years, or will eventually settle here;<br /><br />4. You don't care where prices go - you only want to plant your roots;<br /><br />then go ahead and buy.<br /><br />In fact, if you have cash outright, buy a dozen houses - even for investment. That way, if you lose, you'll only lose your money. If you invest on margin, you'll lose your own money and others money (from whom you borrowed) and be in bigger trouble that you can imagine.DhImAnnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-34721249426700913352010-04-24T07:53:44.418-07:002010-04-24T07:53:44.418-07:00Bindaas Bhai,
Hats off to you and your assessment...Bindaas Bhai,<br /><br />Hats off to you and your assessment of the market, its coming true with each passing day. I really appreciate your views and your honesty in sticking to your guns. Be it RE or Stock Markets you have always hit the nails in the right place.<br />Just hope that all the serious end-users of RE paid heed to what you said and bought in the temporary trough that we saw beginning end 2008 to mid 2009. I just write on once in a while though I haven't missed reading a single post on this Blog and Indian Real Estate Forum for the past 18 months.<br />Thankfully I didn't blink even once while buying in the opportunity phase last year. The price of my property in Pune has appreciated 30% since. Though its only on books and doesn't make any difference to me as I am not an investor I don't think I would have been able to gather enough courage to buy at current prices.<br />And I followed what I learnt from some good souls here and on IREF - ready possession or resale at bargain basement in a house of my choice, no compromises.<br />I was just wondering where is our vulture with 50% guarantee?<br /><br />Cheers,<br /><br />NTAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-18193588373282296762010-04-24T07:52:54.790-07:002010-04-24T07:52:54.790-07:00Bindaas Bhai,
Hats off to you and your assessment...Bindaas Bhai,<br /><br />Hats off to you and your assessment of the market, its coming true with each passing day. I really appreciate your views and your honesty in sticking to your guns. Be it RE or Stock Markets you have always hit the nails in the right place.<br />Just hope that all the serious end-users of RE paid heed to what you said and bought in the temporary trough that we saw beginning end 2008 to mid 2009. I just write on once in a while though I haven't missed reading a single post on this Blog and Indian Real Estate Forum for the past 18 months.<br />Thankfully I didn't blink even once while buying in the opportunity phase last year. The price of my property in Pune has appreciated 30% since. Though its only on books and doesn't make any difference to me as I am not an investor I don't think I would have been able to gather enough courage to buy at current prices.<br />And I followed what I learnt from some good souls here and on IREF - ready possession or resale at bargain basement in a house of my choice, no compromises.<br />I was just wondering where is our vulture with 50% guarantee?<br /><br />Cheers,<br /><br />NTAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-73447706473454432612010-04-24T07:21:04.491-07:002010-04-24T07:21:04.491-07:00BB,
Welcome, Nice to see you back. Kindly keep po...BB,<br /><br />Welcome, Nice to see you back. Kindly keep posting because the information you get is what finally matters. Till date what you have said has come true.<br /><br />I am a desperate buyer but cannot afford and i am just waiting for the day when you will write that RE is likely to crash.<br /><br />Now this forum has a very mature audience unlike past.<br /><br />Dhiman: We also want you to participate actively. I must say that you are really adding a lot of value to this forum...<br /><br />Keep posting guysAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-67930287131621890772010-04-24T06:34:53.469-07:002010-04-24T06:34:53.469-07:00DhimAn,
Glad to see your thinking is same as mine...DhimAn,<br /><br />Glad to see your thinking is same as mine. I have been reading about austrian theory for 1 year now completely agree with you. I am able to see hydonics in the mainstream bubble economics.Dexternoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-37907574437037258842010-04-23T23:19:20.065-07:002010-04-23T23:19:20.065-07:00If you are expecting prices will fall, you are a f...If you are expecting prices will fall, you are a fool. <br /><br />If you are expecting prices will rise like they did in 2004-2008 then also you are a fool. <br /><br />Buy property if you want to live in it, for investment there are allot more options. Think you are getting only 3% returns in RENT and if prices don't rise you will earn only 9% in 3 years and inflation will be 30-40% and you will actually loose money. <br /><br />Due to inflation, Indian Rupee is going to loose at least 40% of its buying power in next 3 years thus people salary will grow at least 20-25% in next 3 years. This will compensate for current high prices hence prices will not fall. <br /><br />If you are buying property now, you are actually paying for 2014 prices but hey what can you do if you want place to live?.<br /><br />Property prices will never fall more then 10% due to continues supply of black money. When builders start project, they are backed by black money investors without any interest thus giving them power to hold prices for long time.<br /><br />All other people posting about US, Australia and other theories are fools sitting in United States or some other place where there is no population and have robust infrastructure. In India its different and its crazy.<br /><br />Remember, rich are getting richer and poor are getting poorer, this will continue to remain same otherwise congress government should not have come back in power in last election.<br /><br />JayAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-55605191711094267402010-04-23T21:55:04.880-07:002010-04-23T21:55:04.880-07:00"Right now, rental returns are extremely low,..."Right now, rental returns are extremely low, prices have risen much faster than inflation (over last 5-6 years). Seems we are set up for a fall."<br /><br /><br />Or - maybe rents will go up instead?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-87479626462582098032010-04-23T10:34:22.978-07:002010-04-23T10:34:22.978-07:00I am probably one of many silent readers on this f...I am probably one of many silent readers on this forum. While I agree to Dhiman's points, I dare say I would have not been able to articulate them as well as he has. Well done!<br /><br />I feel after a long time I have seen logical debate, without crude language. It seems to have pulled BB out of self imposed exile as well!! Welcome back Bindas Bhai (though I disagree with almost everything you say!!!)<br /><br />My 2 cents on the topic: rental returns, increase in prices normally oscillate around a mean (trend line) with a cycle every 7-12 years. While the overall trend is no doubt upward, in the short term (2-4 years) prices can move in either direction.<br /><br />Right now, rental returns are extremely low, prices have risen much faster than inflation (over last 5-6 years). Seems we are set up for a fall.<br /><br />When this fall will come, how much it will fall by, etc. is impossible to predict, and I wont even try. All I know is, I am ready to wait: and loose out in the process if I have to.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-86960775170651947992010-04-23T08:45:32.535-07:002010-04-23T08:45:32.535-07:00I think you should ban bhai from participating in ...<i>I think you should ban bhai from participating in this blog</i><br /><br />Why? He is participating in a civil manner in a debate that is raising everyone's awareness by presenting countering viewpoints. I thank him for that.DhImAnnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-65818834470741331152010-04-23T08:41:31.376-07:002010-04-23T08:41:31.376-07:00Bindas Bhai:
You are not addressing my question.
...Bindas Bhai:<br /><br /><i>You are not addressing my question.</i><br /><br />I'm sorry - which one? I thought I've addressed every point you've brought up.<br /><br /><i>Either you need to fall in this bracket of income not necessary single income can be double also, people also upgrade selling their existing house or buy in the outskirts if Mumbai.</i><br /><br />Upgrading by selling existing house is different - you already have the money in that case. In that case you fall into my category of "I have money, how should I spend it?"<br /><br /><i>I know people have limited choice but unfortunately this is hoe property cycle moves. It will discount ten years future earning before it crashes and will remain stagnant for another ten years types.</i><br /><br />Now you're confusing me. This is essentially <b>my</b> argument about a bubble and a crash. If you know this is going to happen, then why not simply wait for ten years? In real, inflation adjusted terms what you said is exactly what I am saying.<br /><br /><i>People who have missed the bus will talk in your tone this is expected but later when the fear sets in guys like you will buy property just before the crash.</i><br /><br />What tone? Oh, you mean the tone of a stone cold rational who isn't confused about the markets?<br /><br />Sorry, that was also just low hanging, ripe fruit. But seriously, what tone?<br /><br /><i>So finally getting into semantics to escape.</i><br /><br />Nope. Haven't changed my points even one bit, so no escape, semantic or not.<br /><br /><i>Let the people decide whether it is their need or investment to each of its own.</i><br /><br />That is self evident, ultimately everyone decides for himself. What I hope to do is increase the knowledge level of people so that their decision is based on better information and better knowledge. By contributing to this debate, you are doing exactly the same thing, and can no more influence someone's decision than I can. That doesn't make one of us right and the other wrong.<br /><br /><i>We will discuss about the same in May 2011 i.e if you are around.</i><br /><br />OK, but I also want you to also think further out, say 2020 - and make the call now. After all, your Feb 09 call was spot on with respect to prices (not necessarily with affordability though).<br /><br />So make a price and affordability call for May 11, and for May 2020.DhImAnnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-55052193103628186052010-04-23T04:11:17.466-07:002010-04-23T04:11:17.466-07:00Shub Chintak,
I disagree with you. I feel Bindas ...Shub Chintak,<br /><br />I disagree with you. I feel Bindas bhai is having a healthy argument. Just because we think that the market is going to crash and someone doesn't, you cannot make such comments. <br />Otherwise how we are different than the land mafias, builders?<br />I agree with Dhiman on his points, but Bindas bhai also have some right points which are effectively countered by Dhiman.<br />At the end RE is not going to rise or fall just because of the discussion on this blog.<br />But what this blog is doing is educating the people, and helping them to hold their decision to buy.<br />We need people like Bindas bhai as his questions are the very same questions of a buyer in this market. If people finds counter to these questions, then it might help them to reverse their decision.<br />At the end, Congratulations Dhiman and Bindas Bhai, for having healthy discussion.<br /><br /><b>Lowest IQ on the earth</b>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-46923771026712189622010-04-23T03:36:42.444-07:002010-04-23T03:36:42.444-07:00Vik,
I think you should ban bhai from participati...Vik,<br /><br />I think you should ban bhai from participating in this blog<br /><br />Shub ChintakAnonymousnoreply@blogger.com