Real Estate in India

#1
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.
 

Alchemist

Administrator
Staff member
#2
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.
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.
 
#3
no doubt the real estate in india is a great boom because the market in india has suddenly grown to a much extent which cannot be imagined because 3 years back the estate here was too cheap and with the mnc coming up in india the prices hav gone too high
 
#4
yeah dats rite real estate in india "Currently growing at 30 percent per annum, the domestic real estate market is estimated to be of the order of $14 billion.so,grab the opportunity...
 

Alchemist

Administrator
Staff member
#5
yeah dats rite real estate in india "Currently growing at 30 percent per annum, the domestic real estate market is estimated to be of the order of $14 billion.so,grab the opportunity...
Also Indian real estate market is expected to grow to more than 100 billion US $ in the next 10 years....that would be a compounded growth of around 22 percent.
 
#6
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.
 
#7
Hi All,
With rate hikes in recent past (1 year), there is no sign of real-estate cooling off , I am waiting to buy resident plot on Bangalore, I see no sign of correction, God know when rate will be affordable :(.
 
#8
This article is both shocking and hilarious at the same time. A must read. [link]

Somtimes I feel sorry for my kids. The way the country is going to the dogs I wonder how they will survive.
 
#9
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?
 
#10
Should we buy now or wait for 2 - 3 months....

Kindly help me. I' m searching for a home in Mumbai.

Should I buy it now or wait for 3 more months?

I have been waiting for last six months for prices to come down, but its not happening and ideas or suggestions will be helpful and appreciated.
 

Alchemist

Administrator
Staff member
#11
Should I buy it now or wait for 3 more months?
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.

"This indicates that at current prices, there is no off-take," said Mr Kapoor. "The correction should have come, but prices have skyrocketed instead. The market is becoming more lopsided, and it is hardly a sustainable model."
 
#12
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.
 
#13
Kindly help me. I' m searching for a home in Mumbai.

Should I buy it now or wait for 3 more months?

I have been waiting for last six months for prices to come down, but its not happening and ideas or suggestions will be helpful and appreciated.
In my personal opinion, prices in Mumbai should correct by around 15%. However when they will correct is unpredictable.

I have been waiting for a correction for over a year now and will continue to wait for another year if required. My next check-point for deciding is December-end.
 
#14
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?
 

Alchemist

Administrator
Staff member
#15
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?
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.
 
#16
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.
 
#17
You let me know how it is now ? So many years passed and in my country I also bought thing "in construction" condition and waited so much years till it's done so I've lost all my money during the way and now trying to sold it as cheap as only possible. Don't make my mistake
 
Top