tag:blogger.com,1999:blog-19740856.post9046518461242929956..comments2024-03-28T00:59:01.483-07:00Comments on India's housing bubble: Economic Times on the Real Estate SlowdownUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-19740856.post-28885373669341317722009-07-22T03:24:15.913-07:002009-07-22T03:24:15.913-07:00Vik,
You will have to wait for atleat 7 years for...Vik,<br /><br />You will have to wait for atleat 7 years for the market to correct.<br /><br />Bindas BhaiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-44103930310924894042008-01-28T22:34:00.000-08:002008-01-28T22:34:00.000-08:00I could'nt agree with you more. Based on personal ...I could'nt agree with you more. Based on personal experience in Navi Mumbai, the ground reality indicates that there are not many genuine buyers for the inflated priced houses from the Investors or Builders. Many of such houses are lying unoccupied and some have been rented out at low rentals, which are highly unproportional to the quoted costs. How long these investors / builders can hold their postions, remains to be seen. As the valuation of these properties is highly misplaced, the genuine buyers must tread very cautiously when buying the property. There is a time for correction in every market and it is likely to happen in real estate soon. 'Wait and Watch' is certainly the best aproach to follow in this case.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-14968835982675806462008-01-28T22:33:00.000-08:002008-01-28T22:33:00.000-08:00I could'nt agree with you more. Based on personal ...I could'nt agree with you more. Based on personal experience in Navi Mumbai, the ground reality indicates that there are not many genuine buyers for the inflated priced houses from the Investors or Builders. Many of such houses are lying unoccupied and some have been rented out at low rentals, which are highly unproportional to the quoted costs. How long these investors / builders can hold their postions, remains to be seen. As the valuation of these properties is highly misplaced, the genuine buyers must tread very cautiously when buying the property. There is a time for correction in every market and it is likely to happen in real estate soon. 'Wait and Watch' is certainly the best aproach to follow in this case.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-65142520587186615462007-12-28T10:37:00.000-08:002007-12-28T10:37:00.000-08:00In Navi Mumbai region, especially some node which ...In Navi Mumbai region, especially some node which were basically earmarked for lower middle class and EWS housing like Kamothe, Kalamboli and Khandeshwar are being hyped by a very-well organised builder's lobby as the preferred destination for investors. Those who have seen these places may note that there are hardly any public amenities except the twin-platform railway stations - leave aside civic and social facilities for high end life styles. These places are meant for low-end service class people only. Please see CIDCO website. People should be extremely cautious even those who have disposable surplus money as there will be no real high end demand in that area. As there is hardly any value-for-money quality property in any price range, almost all builders in that area demand 60:40 to 70:30 payments. It simply means you pay 30L for a property valued at 16L-18L on paper! You even can not weep in public if something goes wrong! There is genuine demand for value-for-money properties in almost all places which should be realstic and affordable to the class of people interested therein, but too much greed and hype by the builders has blocked a whole cross-section of real home seekers from buying houses. Actual users and buyers must be very cautious in buying at these rates and paying huge cash as black component, as they will be putting their hard earned money and will be repaying for their whole life. If the current scenerio truly reflects real economic boom, then the rental space should also have gone by that scale. A property quoted at 30L-35L in these places will hardly fetch Rs 3-4K as rent. This is simply because people can not afford more than this in these locations. A basic advice- do a through research before putting your money in Navi Mumbai region in real estate propeties. Just wait and watch - it is just a matter of time - the present sellers market may well turn into a buyers market.Anonymousnoreply@blogger.com