now a days real estate in india is getting crazy.where ever you see indian land rates are going up.long back my brother-in -law took a land bit at shamshabad in hyderbad(india).1 yr back he solded his land Rs 50,000/- before when hyderabad international airport limited started.now he is go on crying why he solded his land now that land cost is more than 50 lakhs.
Real Estate in India
- Thread starter she2max
- Start date
Yes. Land and property prices are going up sharply ...especially in the bigger cities. People now buy land and property - not for use, but for investing.
It is sort of a bubble, which may burst. However any correction in the prices may be short-to-medium term.
In the long term, a growing economy will always have rising realty prices.
It is sort of a bubble, which may burst. However any correction in the prices may be short-to-medium term.
In the long term, a growing economy will always have rising realty prices.
real Estate India
Hi.....all
In 2005 end, I was lived in Delhi & that time I bought one home Rs.7.5 lakhs. Then because of some problems of my family, I had shift to Mumbai and sold my home Rs.8 lakhs.
After some time, i mean now, again i need to shift to Delhi.
So i went to Delhi to inquire about real estate market in Delhi.
U know what is the price of my home? It is Rs.20 lakhs. I was very upset.
Hi.....all
In 2005 end, I was lived in Delhi & that time I bought one home Rs.7.5 lakhs. Then because of some problems of my family, I had shift to Mumbai and sold my home Rs.8 lakhs.
After some time, i mean now, again i need to shift to Delhi.
So i went to Delhi to inquire about real estate market in Delhi.
U know what is the price of my home? It is Rs.20 lakhs. I was very upset.
.Understanding of Real Estate
Hi friends! I know that many people believe that real estate is growing leaps and bounds. But, I want to know whether the home buyers are able to cope up with the steep rise? I have observed that the rates of the property in India are increasing greatly. I have also heard many people that it is difficult to purchase a house in a popular locality. What is your understanding about real estate price?
Hi friends! I know that many people believe that real estate is growing leaps and bounds. But, I want to know whether the home buyers are able to cope up with the steep rise? I have observed that the rates of the property in India are increasing greatly. I have also heard many people that it is difficult to purchase a house in a popular locality. What is your understanding about real estate price?
If you can, I suggest you wait some time more.
According to this article, even tough prices haven't corrected much in Mumbai, sales are slowing. There is a good possibility that developers start reducing prices in next few months to bring down their inventory.
Mumbai properties costliest but sales lowest among all metros in the country - Moneylife Personal Finance site and magazine
Also, both the global and Indian economy are slowing. This will affect the real estate sector, sooner or later.
According to this article, even tough prices haven't corrected much in Mumbai, sales are slowing. There is a good possibility that developers start reducing prices in next few months to bring down their inventory.
Mumbai properties costliest but sales lowest among all metros in the country - Moneylife Personal Finance site and magazine
Also, both the global and Indian economy are slowing. This will affect the real estate sector, sooner or later.
You try to time your buy around Diwali or new year. Bargain hard... very hard. I have heard umpteen stories of people bargaining hard and getting a good deal.
Another advice: Do not book under construction property where possession is few years away. At max, go for some project where possession is six months away. And in that case too, be prepared for a delay of extra 6-9 months. Insist on having the same possession data as promised to you in the registration document too.
Another advice: Do not book under construction property where possession is few years away. At max, go for some project where possession is six months away. And in that case too, be prepared for a delay of extra 6-9 months. Insist on having the same possession data as promised to you in the registration document too.
With cost of transport going up frequently, cost of cement, steel and other building materials is also rising all the time.
In my area, builders are asking for a price re-negotiation, because of this.
In some cases, they are just not going ahead with the construction or slowing it down, if buyers do not agree to re-negotiation!
So what to expect in the future?
In my area, builders are asking for a price re-negotiation, because of this.
In some cases, they are just not going ahead with the construction or slowing it down, if buyers do not agree to re-negotiation!
So what to expect in the future?
If there is a provision for cost escalation in the project agreement, the builder can ask for a higher price.
Otherwise not.
I am not sure what a builder can gain by stopping or slowing down a project. Delaying a project will further increase its costs.
Costs are continuously going up in India. Inflation is not limited to commodities. Land and labour costs are rising rapidly too.
Many builders use borrowed money to partially finance their projects. Interest costs also go up with time.
Otherwise not.
I am not sure what a builder can gain by stopping or slowing down a project. Delaying a project will further increase its costs.
Costs are continuously going up in India. Inflation is not limited to commodities. Land and labour costs are rising rapidly too.
Many builders use borrowed money to partially finance their projects. Interest costs also go up with time.
Thank you for pointing out that the builder should put in a "cost escalation" clause in the Agreement.
Mine is a small town actually so builders have not done that (but they might, in future).
I think they are asking for a higher amount now because cost of everything has gone up.
However, I don't think banks will sanction the additional amount being asked for by the builders.
In this way, genuine buyers suffer because they have to borrow the extra amount from friends / relatives etc and not everyone has these sources.
Mine is a small town actually so builders have not done that (but they might, in future).
I think they are asking for a higher amount now because cost of everything has gone up.
However, I don't think banks will sanction the additional amount being asked for by the builders.
In this way, genuine buyers suffer because they have to borrow the extra amount from friends / relatives etc and not everyone has these sources.
