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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 3 post(s) to this thread, the last poster was GlobeSon.
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: MANOJa
On: November 9 2017 02:48 PM
[h=1]Home prices go down by 5-10% due to demonetisation: Housing ministry[/h] Post-demonetisation the real estate sector saw a drop in prices by up to 5-10 per cent, according to data shared by the housing and urban affairs ministry.[URL="https://realty.economictimes.indiatimes.com/author/479213512/dipak-k-dash"]Dipak K Dash[/URL] | TNN | November 09, 2017, 07:48 IST NEW DELHI: Post-demonetisation the [URL="https://realty.economictimes.indiatimes.com/tag/real+estate"]real estate[/URL]sector saw a drop in prices by up to 5-10 per cent, according to data shared by the housing and urban affairs ministry. In fact, there could be further price correction and the ministry is optimistic most of the nonserious and fly-by-night players will vanish soon, housing and urban affairs minister [URL="https://realty.economictimes.indiatimes.com/tag/hardeep+singh+puri"]Hardeep Singh Puri[/URL]said on Wednesday. Claiming demonetisation had the maximum positive impact on the real estate sector, Puri said this had been one of the main hub of parking black money. "There has been some correction in prices and the ultimate beneficiaries are the end buyers," Puri told TOI. Added to the drop of 5-10 per cent in property prices, many developers offered freebies during the past one year in the range of 5-7 per cent. Together, effectively the discount/ correction is expected to be up to 15 per cent, the ministry said. The data also show that the average resale price of properties witnessed a dip of 10-15 per cent immediately after demonetisation. However, price correction has happened in the past couple of months in the case of ready-to-move in properties. Similarly, new launches of projects since January has been less across top 10 cities including Noida, Pune, Mumbai, Chennai, Hyderabad, Bengaluru and Ahmedabad. Only exception has been Gurgaon which has witnessed 72 per cent increase in new launches on year on year basis in the case of affordable housing segment under the state government scheme, the ministry data said. Puri said the implementation of Real Estate Regulation Act ([URL="https://realty.economictimes.indiatimes.com/tag/rera"]Rera[/URL]), transparency in the sector and impact of demonetisation will bring a new phase where the ongoing projects will get completed. "Some states have messed up the issue of ongoing projects. But we are trying hard to push the case of genuine buyers," the minister said. "All the initiatives we have taken will have their impact. Many of the projects will get completed by the builders or by some other entities," Puri said. [url]https://realty.economictimes.indiatimes.com/news/regulatory/home-prices-go-down-by-5-10-due-to-demonetisation-housing-ministry/61570262[/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: Bharatiya
On: November 9 2017 03:13 PM
[QUOTE=NG2012;n2564177] Forget about farmers' emotions, forget about land owners emotions. The reality is that India does not have enough businesses to employ its people. The problem is Indians are hoarders and non-risk takers. So while kids in developed countries were taking risks and starting businesses, Indians were busy accumulating inheritances for their kids by buying plots, lands and gold. Its good that European and American kids aren't deeply into buying lands and gold...as those kids have responsibility to create jobs for kids of Indians. When people of this generation want to save money for their daughters marriage and son's education, I don't see that our next generation will be able to do anything worthwhile. May be I am overly pessimistic...[/QUOTE] Some facts. 1. I have researched about Public sector of India compared to western countries. India's Public sector employment is around 3% of Labor force. In America and Europe it is 8% - 30% of Labor force. Govt in developed countries is a big employer of Labor force. In Scandinavian countries, Govt are the largest employer of Labor force. 2. Developed countries in US & Europe doesn't have "Risk takers". In fact they have very few successful independent entrepreneurs. Most of their Private sector growth/development/profits in US and European countries comes from small number of Giant corporations. 3. As far as Entrepreneurs and real Risk takers are concerned, this trend is more active in China & several Asian economies. 4. Standard of living has fallen in US and many European periphery countries. A lot of people are unemployed/underemployed. Many are just on unemployment benefits and Janitorial type part time jobs. Education is declining in US as universities are getting more and more expensive and economy without necessary jobs. Read about $Trillion Student loan bubble in US.
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: GlobeSon
On: November 9 2017 04:08 PM
[h1][b]Home sales across India dip by 36% post demonetisation: Report[/b][/h1] [i][b]Bengaluru registered the maximum drop in home sales of 45% in the January to September period this year[/b][/i][url="https://realty.economictimes.indiatimes.com/author/479238876/sanu-sandilya"]Sanu Sandilya[/url] | ETRealty | November 09, 2017, 14:18 IST NEW DELHI: Average [url="https://realty.economictimes.indiatimes.com/tag/home+sales"]home sales[/url] in the top 10 cities across India has declined by 36% post [url="https://realty.economictimes.indiatimes.com/tag/demonetisation"]demonetisation[/url], with Bengaluru registering the maximum drop of 45%, according to a report by property portal [url="https://realty.economictimes.indiatimes.com/tag/propequity"]PropEquity[/url]. Kolkata closely followed Bengaluru with a 44% decline in home sales in the January to September period this year, compared with the same period last year. Other cities registering a drop were Ahmedabad with 42%, Noida with 41%, Pune with 39%, Chennai with 37%, Gurugram with 36%, Hyderabad with 30%, Thane with 29% and Mumbai with the lease drop of 23%. The government on November 8 last year had banned high-denomination currency notes of 500 and 1,000, to weed out black money from the economy. The real estate sector, especially the [url="https://realty.economictimes.indiatimes.com/news/residential"]residential[/url] segment, which was already reeling under slow sales, rising inventory and severe liquidity crunch, was impacted the most. The future also looks doesn't look bright for the sector. Rating agency CRISIL has recently said the residential property demand is unlikely to revive in the next 12-18 months due to absence of end-user buyers and lower presence of investors in the market. According to the agency, homes sales in the top 10 cities – Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, MMR, NCR and Pune – have declined at a compound annual growth rate of 8% since 2011. https://realty.economictimes.indiatimes.com/news/residential/home-sales-across-india-dip-by-36-post-demonetisation-report/61575185
With warm regards,
Team IREF
With warm regards,
Team IREF
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