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Old 1st February 2011, 09:59   #406
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Default UPDATE...Reg: Need help in finding an accommodation in Coimbatore.

UPDATE:
Found a good place to live very near to my office hear in Coimbatore. Thank you for all those who responded (via PM!!)
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Hello everyone,

I am posted in Coimbatore for few months. ....
My office(Mak Control Systems) is located on Avinashi Road, in the lane opposite to Skoda showroom.
.....
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Old 1st February 2011, 11:40   #407
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Default Re: The Property / Real Estate Thread

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Originally Posted by hallik9 View Post
One of my friend has an apartment at Alpine Eco and its a 3 bhk(Duplex).
Last heard,he wanted to dispose it off as he is staying at the US for a long term.You might get it for a decent price.I had seen the apartment back in Aug 2010 and it has all the decent aminities.
you think you can talk to your friend and get more details. If he is really interested in selling, I may be interested.
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Old 1st February 2011, 15:46   #408
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Default Re: The Property / Real Estate Thread

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Originally Posted by download2live View Post
Lets not forget the most vital but hidden factor in Real Estate market. The black money. We Indians have plenty of it. Even if the market goes down it does not make much difference. There will always be people with unaccounted cash willing to pay up whatever the builder quotes. It is this which insulates the Real estate market in India from the market upheavals.

I do not see any market correction in property prices happening any time soon.
Definitely true. I recently booked a flat in rajarajeshwari nagar and the builder has increased the rate per sq ft by 200 rupees over 2 months. Of course the building is getting constructed and as it nears completion they quote higher. But there is no dearth of buyers. Builders are getting buyers for the price they quote.
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Old 1st February 2011, 16:20   #409
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Default Re: The Property / Real Estate Thread

there is never a "right" time to buy property. It is always the "right time".
since they aren't making any more land, it is worth making the plan and taking the plunge rather than wait around testing the water so to say. Because whenever you check, it appears that the prices are only going northwards.
very rare cases where it goes south and then invariably there must be something wrong with the project itself.
the thing is to be careful and invest in a location in which infrastructure already exists or else, is likely to arrive pretty soon because thats what will help with the desired appreciation gains.
also -in today's world, Crores are the new Lakhs. The goal posts have moved considerably these last 5 years. Even regular middle class people speak in Crores nowadays, not lakhs.
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Old 1st February 2011, 16:45   #410
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Default Re: The Property / Real Estate Thread

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Real Estate is always influenced by local market dynamics.

Agree with V-16, correction is long due in Mumbai. A 2 BHK flat in a suburb like Malad now costs 1 cror+. And above 4th floor, cost increases by 60 Rs per square foot. A flat in 15th floor or above is 1.5 cror+.
Imagine a 2 BHK in Mira road now costs upwards of a minimum of 50 lakhs (built by a not so reputed builder). A 1.5 BHK in projects like Lodha Aqua cost 67 lakh (onwards).

Quote:
Prices going down down down. If investing or buying a new property, i would suggest to wait until Feb end. AT least 20-40% correction expected. Most gurus i have spoken to say this. With the interest rates going up, stock market going down (especially infrastructure and builder stocks) and builders not getting any more finance easily, thats the only way. Maybe this is the crash that was expected for so long.
My wife works for one of the leading real estate companies in India. She also concurs with this statement. Also, as per her sources, a further correction is expected in July as well.
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Old 1st February 2011, 22:55   #411
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Default Re: The Property / Real Estate Thread

here is another logic I heard recently from a broker - dont expect anything in the 50-70L bracket (atleast in GGN) - the brokers themselves have the wherewithal to pickup/hold properties in that bracket for a good while. hence, even if the macro picture heads south, this segment's speculators have staying power.
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Old 1st February 2011, 23:49   #412
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Default Re: The Property / Real Estate Thread

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Actually I am not buying? I wish I could. I have a friend who is getting possession of his flat soon. He wants to sell it and wanted to know the current rates. He has not been to Bangalore for a long time now.
When did he book and at what rate? My friend was following the prices for Aquila heights for over a year (including the "recession" phase) and there was hardly any change in the price quoted by Tata. I can ask him if he knows any other potential buyers.
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Old 2nd February 2011, 07:57   #413
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Default Re: The Property / Real Estate Thread

Bangalore guys, whats the sq.ft rate for apartments (premium quality) in Shakaranagar (near Jakkur airfield)?

Please let me know if you come across any projects.
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Old 2nd February 2011, 11:37   #414
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Default Re: The Property / Real Estate Thread

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Originally Posted by Mpower View Post
Bangalore guys, whats the sq.ft rate for apartments (premium quality) in Shakaranagar (near Jakkur airfield)?

Please let me know if you come across any projects.
When the recession peaked last year, I was fortunate enough to pick an apartment for Rs. 3000/SQFT but thats not exactly Sahakarnagar but behind the Beary's twin towers - Shantivan area. The ongoing rate for the same now is Rs. 3800/SQFT. In Sahakarnagar its slightly above and some of them are even quoting upwards of Rs.4500. So, the range is around 4~5k (pre-negotiation)

There's a new upcoming project from Hoysala builders in Amruthalli. The pre-launch rate about 2 months ago was Rs. 3800.

Hope this helps.
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Old 3rd February 2011, 14:17   #415
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Default Re: The Property / Real Estate Thread

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Originally Posted by Mpower View Post
Bangalore guys, whats the sq.ft rate for apartments (premium quality) in Shakaranagar (near Jakkur airfield)?

Please let me know if you come across any projects.
Recently one of my friend booked a flat in Purva Venezia near Yelahanka New Town and IIRC the sq. ft price he got was around 3200/-. I think the project will be completed by June this year.
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Old 3rd February 2011, 21:47   #416
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Default Re: The Property / Real Estate Thread

Thanks Guys
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Originally Posted by menonrajesh View Post
Recently one of my friend booked a flat in Purva Venezia near Yelahanka New Town and IIRC the sq. ft price he got was around 3200/-. I think the project will be completed by June this year.
Thats a decent price. Legacy Dilmora in Jakkur Plantation and that quite a bit higher.
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Old 5th February 2011, 14:00   #417
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Default Re: The Property / Real Estate Thread

It seems developers are sitting on unsold stock in Mumbai:

No takers for 25,000 new flats in Mumbai - Hindustan Times
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Old 8th February 2011, 17:28   #418
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Default Re: The Property / Real Estate Thread

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Originally Posted by NetfreakBombay View Post
It seems developers are sitting on unsold stock in Mumbai:

No takers for 25,000 new flats in Mumbai - Hindustan Times
Who will blink first? The buyers or the builders. Some builders have tremendous holding capacity. For eg. Raheja Classique (next to Infinity Mall) was constructed in 1999. Yet, many flats seem unoccupied even today.

However, the fact remains that residential prices in Mumbai are inflated. Buying a matchbox apartment and paying for built up area instead of carpet area for crores. Are these properties worth the prices? Do they give you good value for your hard earned money? Is it worth slogging for decades just to be able to pay that home loan and the interest? Hell no!!!

Last edited by Wolfheart : 8th February 2011 at 17:29.
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Old 9th February 2011, 08:47   #419
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Default Re: The Property / Real Estate Thread

Hi Guys

I have a query regarding home loan. LIC HFL has offered me two Home loan products

1) Fixed For first 5 years @ 9.75%, then floating
2) Pure floating @ 9%

The agent adviced me to go for the first one since (2) will see a revision very soon and most likely cross 10.25% in not so distant future.

Please advice.
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Old 9th February 2011, 10:24   #420
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Default Re: The Property / Real Estate Thread

For someone working in Turbhe, what are the good stay options for rent? Good schools nearby is a primary requirement. What are the rentals for a 2 BHK flat around those areas?
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