Everything has itz prices going up. Inflation in last 10 years has hit skyhigh.Whichever political party comes , inflation only increases and increases . Is there anything whoz price has come down?
RE:Anything coming down ?
by Girish Rao on Dec 15, 2007 12:48 PM Permalink
toothpaste prices have come down :). The problem with real estate is it is such a pressing neccesity for most of us and all the builders have formed a cartel and have connections with politicians/mafia etc, so they increase rates irrationally, on top of it there is genuine demand for houses in Bangalore so the situation becomes tough for all concerned. Then there are the speculators though I feel speculators are no longer playing in the apartment market.
RE:Anything coming down ?
by Nand Gupta on Dec 16, 2007 06:16 PM Permalink
the prices of digital cameras, computers and computer accessories has come down. I bought 1 GB HDD @ 9000/- in 1990 and now i can buy 320 GB @ 3400/- :-)
There has to be a restriction on purchase of Residential Land and apartments to prevent trading like any other liquid assets.Land is pretious like water and everyone in the country should be given equal opportunity to own a piece of Land for living. But unfortunately the only income that states in our Country get is from selling Liquor and Land .Since they are heavily dependent on Revenue and Excise Dept earnings , they are not in a position to impose such a ban. In southern states like Karnataka,Tamilnadu and A.P , Govts are on a land selling spree to private investors to make quick money.Some states cannot even give salaries to employees without selling thousands of acres of land every month. such a pity state!
RE:Stop speculating - Land is not a Stock
by slicktiger on Dec 14, 2007 10:58 PM Permalink
1.One has to register the land within one month of purchasing a propery. 2.Actual Land prices,appreciation and registration data available online. 3.One must not be allowed to sell residential land with in 12 months of purchase.
Probably doing above helps contain the prices and affordable for everyone.After all selling/buying land is no ones business.
RE:Stop speculating - Land is not a Stock
by Girish Rao on Dec 15, 2007 12:45 PM Permalink
implementation becomes tough the problem is not the law, it is the enforcement of law. Good points though, also government should heavy taxes on all those who choose to keep their apartments vacant in hopes of a better rent/better price. Atleast by renting it out, somebody's problems will be solved.
Now the property prices in Blore have stabilized. One of the main reason is speculators / investors have moved away, thereby reducing artificial demand. But, the supply also has come down drastically. six months back I have seen times property carrying so many advts of top line developers. However today you hardly find one or two. Does it mean that top line developers have sold out or they have stopped developing. I have calculated the emi for 20 years for a 50 lakh house with a 10 percentage down payment. The emi per annum works out to approximately 6 lakhs per annum. If one is earning 15 lakhs per annum, this is definitely a good investment, with todays blore apartment prices.
RE:Good time to buy the dream house
by vngpls on Dec 16, 2007 07:53 PM Permalink
If the ads have stopped it's a sign that the market is down and the developers have less spare money for ads. Times of India created artificial hype for months to boost its ads revenue. Now that the bubble has started to burst it's suffering from less ads.
every builder cheats and cuts the corner, even the most reputed ones. Try to go with a builder who cheats less, dont expect 100% honesty. After all this is India and unforunately demand is more than supply overall :( . And do thorough investigation before buying a property. There is a msn group bdasites I think which is a group which discusses the entire real estate scenario in Bangalore, make it a point to go through there. ALmost every builder is discussed and every issue is highlighted. The one thing you should never forget is no builder is 100% honest and ethical.
RE:Realize one thing
by on Dec 14, 2007 07:44 PM Permalink
Girish you are right. This is India and we accept cheating and frauds. Going forward we should change and stop accepting it. This is the right time and right oppourtunity to get the best. I suggest investors to wait and watch the reality.
This holds true with all the market not only bangalore. These are inflated rates and not real rates. In real estates nothing is real. Today investors understand the market dynamics and inteligent enough to plan investment. what is going to last is the trust and reality bring long time success to every business. Only few builders value it and they are going to be the leaders and brand of choice. Shridhar Shenoy, AVP, Orange business Services, Mumbai
RE:real estate fall in bangalore
by Girish Rao on Dec 14, 2007 07:07 PM Permalink
Mr Sridhar, Are you part of orange properties ? they indulge in daylight fraud. Tying up with discredited builders or tying up with builders where flats are not getting sold seem to be the ploy of Orange properties.
RE:real estate fall in bangalore
by on Dec 14, 2007 07:13 PM Permalink
Sir, Orange busines services is a IT company and part of france telecom. thnx for the reply
1) Gold prices have gone up 2) Stock values have gone up 3) Real estate have gone up all over the country.
But they expect only real estate prices in Bangalore to drop. And they talk of a recession, forgetting the fact that any recession in India will affect Indians badly and will slow down our GDP growth and all which will be really disastrous as a whole. If you guys really believe there is going to be a recession in India, you should leave India and try to settle down somewhere where you believe there will be plenty of jobs, but surprisinly jobs everywhere are coming down too. It is a classic case of wanting the have the cake and eat it too.
RE:People here seem to be dreaming
by Ghanta on Dec 14, 2007 06:41 PM Permalink
I agree. The problem is that a lot of buying happened in real estate primarily as investments. This led to a fake over-demand and consequently over-pricing. Even if prices are dropping( which I doubt), they will not drop substantially. This is true for all places be it Bangalore, Chennai , Mumbai etc.
RE:People here seem to be dreaming
by Girish Rao on Dec 14, 2007 06:55 PM Permalink
yes true, but speculators/traders always try to make a quick buck whether in apartments or stocks or any other thing. It is for the government to try to deter traders/speculators and they do it by imposing high-tax if you sell an apartment within a year. Your best best would be to get hold of such a speculator/trader and bargain hard. I get bombarded with mails about people who hold Prestige/Brigade flats trying to dispose it off, and they quote a discount to the price offered by builder. Their game is up and speculation is no more there and only people who are in genuine need of flats are buying. Will the prices drop who knows ? I dont know and neither do the experts, it is like guessing the sensex 3 months from now. If you have to buy a house, buy dont delay it.
The whole country is happy that Bangalore is atlast loosing charm with out a proper government, infrastructure crumbling, prices so high,, etc.. The city which dominated and outperformed for nearly two decades, is fading now...
Awake ministers of AP, MAH, UP, GUJ and TN, this is the time to catch up Bangalore,, Its now or never,,,, we want other cities to grow along with BANG, MUMBAI and DELHI...
RE:Good that Bangalore at last is loosing charm....
by thribhuvan hk on Dec 14, 2007 05:02 PM Permalink
Hmm... good for Bangalore! Atleast now so called migrants can head back to their places and start screwing their cities :D. Bangalore can regain its lost local culture. Being a bangalorean am desperate to see the old bangalore (90s blore).
RE:Good that Bangalore at last is loosing charm....
by Ghanta on Dec 14, 2007 05:32 PM Permalink
Yeah the village it was, all infrastructure and development will stop. The govt will also close the old and new airports and stop the metro project too.. after all why does a bloody village need an airport or metro. Rickshaw-wallas will go on hartal as they will not have anyone to loot...
RE:RE:Good that Bangalore at last is loosing charm....
by GX on Dec 15, 2007 12:45 AM Permalink
Hahaha...Blore was a 5th largest metro even before IT came here. It is your native city, pardon me, your whole native state which is a village. And no prizes for guessing your native. Mayavati and Laloo are waiting for your!
RE:Good that Bangalore at last is loosing charm....
by Ghanta on Dec 15, 2007 11:02 AM Permalink
My native is Mumbai and I hate Mayavati and Laloo as much as you do
RE:Good that Bangalore at last is loosing charm....
by Dravid on Dec 15, 2007 06:32 PM Permalink
If Delhi can be seperate state why not other metros (including Bangalore) as a seperate state?
RE:Good that Bangalore at last is loosing charm....
by Girish Rao on Dec 14, 2007 06:09 PM Permalink
why are you so frustrated about Bangalore ghanta? did someone rob you or did some builder cheat you or were you fired by some Bangalorean or something.
RE:Good that Bangalore at last is loosing charm....
by Ghanta on Dec 14, 2007 06:14 PM Permalink
I got looted by a rickshaw-wallah called Girish Rao, he said saab traffic hein double meter
RE:Good that Bangalore at last is loosing charm....
by Girish Rao on Dec 14, 2007 06:21 PM Permalink
Ghanta, whats wrong with you, you seem to be frustrasted. Cheer up boy, and look at the larger picture, dont get into personal attacks :)
RE:Good that Bangalore at last is loosing charm....
by GX on Dec 15, 2007 12:44 AM Permalink
Hahaha...Blore was a 5th largest metro even before IT came here. It is your native city, pardon me, your whole native state which is a village. And no prizes for guessing your native. Mayavati and Laloo are waiting for your!
I think Land Developers are trying to advertise in a negative sense so that all the middle class fall prey to them - Still the rates are not affordable to middle class
RE:BLUFF
by Girish Rao on Dec 14, 2007 06:15 PM Permalink
yes both of you agree with each other and take a gamble and wait for rates to drop further. Everything involves risk, even not buying the house at the right time involves risk.
Bangalore is a pathetically over-rated city. everything is bloody expensive in Bangalore right from food to houses. I am pretty sure that no property in b'lore is can be worth even 500Rs./sq ft. Locals always in a lookout to loot others and are big show-offs. In attitude Bangalore is nothing but Delhi of south.
