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Dear ck.kislay,
You are subscribed to the thread "Real Estate Bubble Set to Burst Again in India" by MANOJa, there have been 9 post(s) to this thread, the last poster was rookieman.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: sumanp6254
On: July 9 2017 07:14 AM
With tech mahindra firing 20% staff , i doubt more than 5% of people in IT will in future dare to take a home loan The RE is going to go down the drain for new launches
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: krisheem
On: July 9 2017 08:25 AM
[QUOTE=sapvin82;n2531627]Where is RE crash and where is Bubble. We have waited so long. People who have invested in RE 7 years back have doubled their money be it in US or India. This thread just goes on and on................[/QUOTE] Do you believe the crash will occur the way world trade center in new york crashed in a matter of few minutes? It�s a slow process. To understand the reality you have to stay connected, tuned and watch the trend. Those so called doubling and tripling is an illusion. I don�t deny that a small section of people invested between 2005 and 2008 booked a good profit but those who invested after 2010 are living in illusions. Let�s say someone has invested in 2011 in an apartment * 3000 per sq.ft. Now in 2017 let's say it has doubled and the rate has gone up to 6000. It�s not going further up which is an indication of stagnation. So a new builder will get into market with a competitive price tag of 5500 or 5000. Now do you think that you would be able to sell the property bought in 2011 for 5000/sq.ft when a brand new house is available for 5000? Secondary market will have to provide a minimum 25% to 35% discount depending on home accessories. The more old the more discount. Without understanding the reality there are lot of people holding on to their property believing their property worth is equivalent to new property. If a property was bought from an investment perspective in 2011 then the ROI has got a hit in 2016 and it�s high time to look for an exit strategy.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: krisheem
On: July 9 2017 08:26 AM
Duplicate and deleted
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: vaibav123
On: July 9 2017 09:31 AM
[url]http://economictimes.indiatimes.com/wealth/real-estate/experts-see-grey-spots-in-gst-on-under-construction-flats/articleshow/59468376.cms[/url] Indirect tax experts and real estate developers seem to have issues with the deduction of one-third of the value of a flat under construction for calculating the GST liability. The finance ministry, by its June 28 notification, allowed one-third of an apartment cost to be deducted towards the transfer of land or the undivided share of land and pay GST at the rate of 18% on the balance amount. The effective GST rate, thus, becomes 12%, says the government. This has sparked off some i .. Read more at: [URL]http://economictimes.indiatimes.com/articleshow/59468376.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst[/URL]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: Hairpin
On: July 9 2017 05:23 PM
Guys, need help. In the organisation where I work, I get home loan at simple interest rate of 6.5 percent for 30 years (20 years for principal repayment and then next 10 years for interest repayment). There is an added flexibility of opting for lower EMI during initial phase this improves Time Value of Money further in my favour. My concern is, I tend to believe that looking at current market situation, RE correction is possible. This I can say from the knowledge I have gained from public forum like this one and the media news. So, should I go ahead buy the property by availing this benefit or should I wait, I do not know how long to wait?
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: samggn
On: July 9 2017 08:06 PM
[QUOTE=rookieman;n2531582]One of my friend bought a 2 BHK 1000 sqft flat(in a big housing complex) in Nehrapar Faridabad at a total cost 37 lakhs. It lies at radial distance of 38 KM from Delhi. If I keep the radial distance same and move to Gurgaon Sector 49 which also lies 38KM from Delhi, how much will be the cost of 2BHK apartment in a gated housing complex? I don't think one will be available below 40 lakh INR. My friend said instead of moving further inside the Gurguram district far away from Delhi, it is much wiser to shift to Faridabad. Atleast his kids can access the educational institutions of Delhi much easily in the near future.[/QUOTE] Where are you measuring from, where is the centre of this radius? Its more a case of sour grapes. All excuses will be found if one cannot afford to stay in a place which is more expensive. There is a reason why Gurgaon is more expensive, and will remain so. Its the choice of the people and corporates to be here. Simple. Noida was better infrastructure wise even 30 yrs back, but Gurgaon overtook it massively as an address. 20 yrs back Faridabad was ahead of Gurgaon, but now lags far behind. So one can keep giving any logic, but if people want to move here because of the overall vibrance, then it will continue to grow. Plus with all the tens of thousands if not lakhs of more jobs coming to Gurgaon, it is not stopping any time soon. Had read that more than half of the office space absorbed last year in entire NCR region was in Gurgaon alone. People with deeper pockets, who want a certain kind of lifestyle, a community of similar type of people continue to move to Gurgaon. They are not interested in going to Faridabad, Noida etc. Faridabad, Ghaziabad, Noida, Gr Noida, are the poorer cousins of Gurgaon in NCR area. That is a fact which most people don't want to acknowledge, but evident in the pricing and housing density. This is just the same way that in Delhi you have the most desirable address as central Delhi where old houses costs 100s of crores and yet you have poorer cousins of west/north Delhi. They are part of the same city, but desirability index is different. Once you have a certain class of people staying in an area, it tends to stay like that for a considerable period of time. So if you have an area where the housing is for lower affordability, that is the strata of society that it will cater to, and people with higher income level will not prefer to come and stay there even if it means lower cost of living. Conversely if you an area where the well off stay, you will not find people with lower budget coming there, and it will tend to stay like that for a very long time. Infrastructure was not looked after properly due to the rapid pace of expansion of Gurgaon during the last decade, but now its being taken up on a war footing. Once a few of the under construction roads/flyovers are open in the next few months, its going to improve things massively. Then there is going to be an even bigger migration of jobs to Gurgaon. Guess what it is going to do to the demand for housing in Gurgaon?
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: futuristic 7
On: July 9 2017 09:45 PM
[QUOTE=samggn;n2531894] Where are you measuring from, where is the centre of this radius? Its more a case of sour grapes. All excuses will be found if one cannot afford to stay in a place which is more expensive. There is a reason why Gurgaon is more expensive, and will remain so. Its the choice of the people and corporates to be here. Simple. Noida was better infrastructure wise even 30 yrs back, but Gurgaon overtook it massively as an address. 20 yrs back Faridabad was ahead of Gurgaon, but now lags far behind. So one can keep giving any logic, but if people want to move here because of the overall vibrance, then it will continue to grow. Plus with all the tens of thousands if not lakhs of more jobs coming to Gurgaon, it is not stopping any time soon. Had read that more than half of the office space absorbed last year in entire NCR region was in Gurgaon alone. People with deeper pockets, who want a certain kind of lifestyle, a community of similar type of people continue to move to Gurgaon. They are not interested in going to Faridabad, Noida etc. Faridabad, Ghaziabad, Noida, Gr Noida, are the poorer cousins of Gurgaon in NCR area. That is a fact which most people don't want to acknowledge, but evident in the pricing and housing density. This is just the same way that in Delhi you have the most desirable address as central Delhi where old houses costs 100s of crores and yet you have poorer cousins of west/north Delhi. They are part of the same city, but desirability index is different. Once you have a certain class of people staying in an area, it tends to stay like that for a considerable period of time. So if you have an area where the housing is for lower affordability, that is the strata of society that it will cater to, and people with higher income level will not prefer to come and stay there even if it means lower cost of living. Conversely if you an area where the well off stay, you will not find people with lower budget coming there, and it will tend to stay like that for a very long time. Infrastructure was not looked after properly due to the rapid pace of expansion of Gurgaon during the last decade, but now its being taken up on a war footing. Once a few of the under construction roads/flyovers are open in the next few months, its going to improve things massively. Then there is going to be an even bigger migration of jobs to Gurgaon. Guess what it is going to do to the demand for housing in Gurgaon? [/QUOTE] Well the point discussed here was the connectivity and proximity to other areas of NCR , wherein Gurgaon cant compete Faridabad and noida , the reason why gurgaon become costlier is because of the vested interest of some builders and daamaads which have now disappeared completely and is not expected to come back in near future.. Regarding the choice of corporate houses as Gurgaon is because of the vested interest which has promoted and developed the area insanely at the cost of ignoring other areas , but as you know everything in this world has a stagnancy point, and i think that gurgaon has already reached that stagnancy point,new Government is also looking at other areas for development like you have heard about Noida Int Airport with direct connectivity to Neharpar Fbd, and if there's a will there's a way (like it happened earlier in gurgaon) so situations may change completely after 5 years.. you never know, that has what happened in NCR earleir as well, when Delhi was considered as the heaven , than comes Faridabad , than gurgaon, it all happened nobody was expecting that gurgaon will rise above Delhi and Faridabad. Regarding the property rates they will continue to fall , price of 40 50 lakhs 2 bhk apt in Noida faridabad may rise , as they are already affordable but the one in gurgaon with a tag of a crore may fall to 70-80 lks in coming 2-3 years... Why ? as the people have become smart, the companies have become smart companies have started cost cutting.why to spend so much cost on office space in GURUJAAM , while they can get better infra at lower cost with the proximity to a new good airport , read the below link. [URL="http://zeenews.india.com/real-estate/jewar-airport-to-reinvigorate-greater-noida-housing-sector-industry-2022378.html"]http://zeenews.india.com/real-estate...y-2022378.html[/URL] The reason why companies chosing GURUJAAM was like majboori ka naam.... but now gradually they are getting rid of this majboori named GURUJAAM.. So in long term you will see this city losing its charm, it may sounds disheartening but thats what i do believe . Many corporate houses has moved and many will move in short span time ,Noida Expressway, Greater Noida is Huge, with upcoming developments happening in other parts of NCR they will expirence boom, NCRs largest hospital is under construction phase at the tip of FNG (Faridabad side), world class Schools ,hospitals are in construction phase in both Noida & Faridabad, , companies like Oppo and samsung are investing there thousands of crores to purchase land in both these areas at FNG intersection.. places like majboori ka naam GURUJAAM will start depreciating as they are overpriced and place is Non deserving , Water un-available, infra un-available, only thing is IT companies which has already started moving out to new areas..
With warm regards,
Team IREF
No Title
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: rookieman
On: July 10 2017 01:28 AM
Samggn, From CP I made the measurement now. Previously I measured from Delhi in Google maps although it hardly matters. My friend commutes to Gurgaon Cyber City daily from Faridabad. So asked him why he didn't preferred to settle in far away Gurgaon/New Gurgaon Sectors with his budget of 37 lakhs. He provided me the reason and it seems to be more logical and a rationale choice. My point was even during the boom period Faridabad was also expensive, now it has reached to saner levels and people in NCR working in Gurgaon do have choice to settle there with a affordable budget.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: rookieman
On: July 10 2017 01:44 AM
Actually I worked in GGN for eight years before relocating to Bangalore. Pay package in Gurgaon IT companies(not sure of other sectors) was not sufficient enough to settle in Gurgaon unless you have other sources of income. Practically I didn't have a choice but to relocate to Bangalore 3 years back. The Faridabad option was not available then. Now with improved connectivity one can stay in Faridabad and work in Gurgaon. For higher education kids will soon be able to go to Delhi on a daily basis using Metro/other options.
With warm regards,
Team IREF
With warm regards,
Team IREF
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