[PatienceWins]

Originally Posted by Jaguar

Last year around the same time, the quotes I got for fountainsquare were around 68-70. Who is saying that the prices are going down

Hope it will reach greater heights.

[penpavan]

Guys, Any idea when the revised guidance values in Bangalore are going to be effective? I hear that before July 15, but if anybody knows exact day or date, please let me know,
It will be great help!

[amitk26]

Every economist worth his salt is predicting slowdown in real estate for nearly half a decade now. Despite RBI hiking interest rate there is no slow down there are 2 reasons.

1. A lot of black money is in circulation and real estate is the place where black money can be channelized so even if real buyers are out the hoarders continues.

2. Population is huge and demand is huge.

3. Till Very recently Indians were used to unrealistically high interest rates , So even what is high as per international standards is low here.
LIC used to give loans at interest rates as high as 17-18% in 70s and 80s so most of the houses were built / purchased with lifetime savings and that culture continues till date.

I took a loan from HDFC for a flat which I purchases in 2000 and sold in 2002 at 13.5% and there was not much appreciation in that time duration
This was in Bhopal and apartment culture was new there at that time, the purchase was just to avoid renting out a place because EMI was working almost equal to rent.

When interest rates dipped to around 8% there was sudden unleashing of real estate mammoth and now there is no going back.

[Spitfire]

Is a good bargain a sign of a slowdown?

[amitk26]

Originally Posted by Spitfire

Is a good bargain a sign of a slowdown?

Yes and no both , I came across a guy who is selling his booking and willing to bargain because EMI is becoming unaffordable but every bargain may not necessarily mean slowdown.

[mkh]

Originally Posted by Spitfire

Is a good bargain a sign of a slowdown?

In your case, not really
Just got to know of a bargain that was missed, guess not meant for us!! That said, its estimated that from the 9 lac odd new projects to be delivered from 2011-2013, half will not complete in time. Signs are aplenty that builders will face huge shortage of funds, even large scale. Unitech has not done much on its Grande project, was to be completed in 2010!!! Wondering where are the "bargains" in bangalore, had sent a PM if you can help.

[Spitfire]

Originally Posted by amitk26

but every bargain may not necessarily mean slowdown.

What about all deals can be bargained at.

This is not a hunch I am talking of. The market is of apprehensions. Rising standard of living (Bangalore) is impacting the budgets of a lot of middle class families.

Today walking into a investment is not a one way deal. The buyer has freedom of choice.

Originally Posted by mkh

In your case, not really

LOL!! Possible, but if the slowdown wasn't there the moderate deals worked upon couldnt have materialized.

had sent a PM if you can help.

You did? Oh extremely sorry didn't see it, really. Going to look now. My inbox is flooded. Good time to clean it up too.

[amitk26]

Spitfire I would say slowdown / bargain is at the level of individual sellers.
The builder Lobby still has enough moolah to hold on and go on increasing prices every month by 50-100 Rs.


Can someone provide feedback on Oceanus builder ? Their project Oceanus Vista is delayed for 1.5 yrs now the reason they give is delay in approval but is there any other story ?

[Spitfire]

@amitk26: That's what we are at aren't we? The builders can keep hiking the prices, its needed. At some stage it will not go any further. Eg Empyrean, the hype got them the bookings but now its all not going too well.

A good bargain takes the price back by almost 1 year.

[amitk26]

Originally Posted by Spitfire

@amitk26: That's what we are at aren't we? The builders can keep hiking the prices, its needed. At some stage it will not go any further. Eg Empyrean, the hype got them the bookings but now its all not going too well.

A good bargain takes the price back by almost 1 year.

Visited Empyrean and they claim phase 1 is sold out and they are booking Phase 2 , The construction work at site was in progress but I am not convinced on the STRR story and as of now it is just a weekend home and not livable.

Any feedback on Oceanus builder ?

[mjothi]

Guys, Anyone checked the Tristar Aishwarya coming up behind ITPL? I went yesterday, looks decent and seems will be completed by next August. Anyone know this place and builders?

[mkh]

Check this out:
Fund availability a concern for real estate space: Experts - PTI -
Have read ample reports apart from these, real estate is in huge trouble, money is running short and projects will be delayed, that said cause of black money LAND itself will not fall but chance of getting desperate sales possible and also high chances of people getting stuck

[mjothi]

Originally Posted by amitk26

Any feedback on Oceanus builder ?

I heard it is very reputed builder. The project in Rammurthy nagar (Greendale) is completed for Phase - 1. And I also heard they are providing BDA possession certificate too. Which shows they are 0% violation and also have approval from all authorities including Airport, Fire etc.

2 of my friend have bought. 1 from Phase 1, and other booked in Phase 2.

If that helps.

[Mr_Bean]

Folks,

There are numerous projects on sarjapur-attibele road like

Shriram Smrithiapartments,
Bangalore Residential OverView of Shriram Smrithi

confident group - Confident Group

concept city spring gardens

All have capitalised on the upcoming infosys campus on this same road which I belive was never on the cards..Do you see any hopes of development on this stretch.

Thanks,
Vinod

[mjothi]

Originally Posted by Mr_Bean

All have capitalised on the upcoming infosys campus on this same road which I belive was never on the cards..Do you see any hopes of development on this stretch.

There are lot of them trying to make money in this stretch. Artha property opened a recent project in Mallur. and advt as near PRR and Infosys projects

People have an thinking that this PRR will become like ORR today. Although I am not an expert to decide on that, but I doubt if that will happen within 10 or 15yrs from now.