booming real estate in Mumbai. Prices can NEVER EVER crash in RE. Sadly some of the commentators talk about a falling market

 

http://www.dailyo.in/business/real-estate-rbi-ambit-capital-saurabh-mukherjea-sumit-shekhar-assocham-property-prices-nsso-capex/story/1/5047.html

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  1. All theory is true but at least in pune prices are sky high. In fact in areas like nanded city flats are going for 88L. I just cannot think how can people commit such a huge amount. But then there are 2-3 earners or in some cases all four father-mother-son-daughter/daughter-in-law are working. Almost everyone I know has 2-4 flats. Now they want a land anywhere from konkan to nagpur. So don’t really see how RE will fall. All logic or rational thinking tells us RE should fall but is world rational?

  2. As suggested by author if buyers wait/postpone their buying decision, I think this game of passing the parcel will come to a halt. Wouldn’t lead to 2008 type recession situation if RE goes down?

  3. I think that’s a poorly written article. He reels off statistics and “data” from various sources without any groundwork/legwork of his own – typical armchair journalism!

    My personal experience has been otherwise, so far, in B’lore. Prices only seem to have gone up. Builders/Developers are unwilling to even think negotiations.

    I’d say the author has put down his wishful thinking and we all do hope (& pray) those wishes come true!

  4. I don’t think in Bangalore prices have gone up they have been where they are for past one year look at small builders they are ready to sell at discount if builder feels buyer is serious he will give 15 to 20 percent discount if u go in group u can extract more discount

  5. all the analyst, journalist or experts are saying price have/should/would correct; but the truth on ground is they haven’t/wont crack, and mind you I am talking about habitable areas in Top 10 cities. I agree if you talk about cities like GZB, MRT and other 2 tier cities and Jungle areas of metro prices have and would correct further.

  6. Prudent investors stay away when any ssset (RE, Stocks, Bonds, Gold) heat up and look for other less riskier & more profitable assets. Given the fact one invests one’s own “lifetime” savings in RE, any possibility of drop (yes it can occur, Japan RE is down 40% for the past 20+ years; USA post 2008 scenario, RE is still down varyingly by 30%-40%; and these are Top 2 Largest economy in Y2008) will be DISASTROUS to one’s financial health.
    So, the take away here is: if One’s major savings is in RE, take care to invest in other assets.

  7. As for as i know, there is no changes in flat prices in 30-60L range at least in Sarjapura area.
    In the small/mid builder market it stayed at 2.1k – 3k/sqft for long time atleast from 2009.
    One of my friend bought a flat in haralur road in 2009 for 2.3k/sqft. in his society sellers are expecting atleast 3k since it is been 6 years but you can get into new projects starting from 2.7k (without negotiation).

    The prices won’t bounce for some more time too.

    Disclaimer: I am an avid watcher of this segment in this area but not indend to buy anything atleast in the near future. Happy with leasing house.

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