WHENEVER CONGRESS COMES, THE PROPERTY PRICES GO UP. WHENEVER CONGRESS GOES OUT OF POWER, PRICES FALL TO ABOUT ALMOST 50%.
THIS HAPPENED WHEN CONGRESS WAS IN POWER IN 1993 PERIOD, AND PRICES CRASHED BY 1999.
POST ELECTIONS, YOU CAN EXPECT PRICES TO COME DOWN DRASTICALLY OVER A PERIOD OF TIME.
INFACT I AM A BJP SUPPORTER AND WHEN I WAS DISCUSING WITH ANOTHER PASSING DRUNKARD, WHO WAS A PROPTERY DEALER, HE SAID THAT BJP SHOULD BE VOTED OUT BECAUSE IT IS DETRIMENTAL TO THEIR BUSINESS
RE:IF YOU HAVE NOTED
by ABC on Apr 07, 2008 06:33 PM Permalink
seems we are heading for big discount sale in property. most of the recent reports from reputed reseach houses and foreign banks revolve around real estate story. developers are facing high liquidity crunch which seems to be irreparable atleast for now.
i am not going to predict, price will happen by x% in x months. all i want to highlight over here is BE PREPARED for DOOM in Real Estate. Going by famous saying - All that goes up has to come down - and realty is no exception!!!
There are various instances sited wherein investors who suffered heavy losses in the recent market fall have either postponed their investment in realty or sold their investment in the same. Do you know! Share Market is always smart and discounts news in advance. Brush through the recent pages of stock mkt fall; which sector was worst affted ?- u gussed right - REALTY SECTOR. more 40% market capitalisation WASHED OUT from 31st dec 2007. Though it is difficult to conclude the property prices also follow similar pattern, one thing is certain, WE ARE HEADING FOR CORRECTIVE PHASE IN REALTY AHEAD.
Also in a resale flat bettre check wht the Transfer chrgs are? u get huge disc in per square feet but end paying same rate after adding trf chrgs. comments invited.
RE:RE:IF YOU HAVE NOTED
by ABC on Apr 07, 2008 06:34 PM Permalink
The inflation and the increasing credit crunch in the market has left the banks worried over the prospective rise in the number of loan defaulters. Industry experts feel that as the inflation is here to stay, the spending capacity of an individual will be affected to a large extent and this will force the borrowers to default on loan installments.
The apex bank (RBI) is likely to raise the repo rates and hike the CRR which, like last time, may result into more defaults.
RE:IF YOU HAVE NOTED
by ABC on Apr 07, 2008 06:36 PM Permalink
Do not enquire about prices now. Per square feet rates will go down by upto 35 percent in 6 months.
Fair value per square feet rates. Mira road 1600, Dahisar 2600, Borivali 3400, Kandivali 3700, Malad 4000, Goregaon 4400, Andheri 5500.
Logic is simple as has happened in USA. No one can afford paying up housing loans only for entire lives. If people earn Rs 5 lakhs per year at Andheri in Mumbai, the cost of 600 square feet house should not be more than 30 lakhs in Andheri. Right now, it will cost 50 lakhs with 30 lakhs white and 20 lakhs black money. till today builders are not reducing the rates
RE:IF YOU HAVE NOTED
by saif islam on Apr 07, 2008 10:56 PM Permalink
i dont think the logic of US sub-prime loan mess can be applied directly on the indian scenario. i agree that metro prices are way off their justified prices - but ppl with homeloans in india are not as likely to default as they never had the popular option of 'Refinance when the interest rates go up' as in the US. So we know that we have to hang on somehow. Also stated income loans are not that prevalent in india - you need solid documentation of income.
