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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 6 post(s) to this thread, the last poster was MANOJa.
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: March 20 2018 09:05 AM
[h=1]NCR flat sales fell 68% in 5 years: Study[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Sharmila-Bhowmick-479234316.cms"]Sharmila Bhowmick[/URL]| TNN | Mar 20, 2018, 07:09 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63372807,width-400,resizemode-4/63372807.jpg[/IMG] NOIDA/GURUGRAM: The National Capital Region ([URL="https://timesofindia.indiatimes.com/topic/NCR"]NCR[/URL]) has witnessed a 68% fall in real estate [URL="https://timesofindia.indiatimes.com/topic/sales"]sales[/URL] between 2013 and 2017, research group Anarock has said in a report. The report says the total number of housing sales across NCR stood at 37,600 in 2017 compared to 1,18,000 in 2013. Changes in real estate policy brought by the introduction of RERA and the implementation of the GST have been cited as the main reasons for the slum in sales. Officials said the real estate market had already started shrinking by 2013-14 and witnessed the sharpest dip in sales by the end of 2016 and the middle of 2017, when the RERA and GST were implemented. The two factors had not only affected real estate in NCR, but the entire country. In 2017, only 2 lakh houses were sold nationally. The [URL="https://timesofindia.indiatimes.com/topic/study"]study[/URL] by Anarock was not limited to NCR but was based on absolute sales figures from six other top real estate markets of India —Mumbai Metropolitan Region (MMR), Bangalore, Pune, Hyderabad, Chennai and Kolkata. "The findings of the report reveal that larger areas such as NCR and MMR, which were heavily driven by investors, recorded a massive drop of 68% and 27%, respectively, in average sales from 2013-14 to 2016-17. Bangalore and Chennai, also on investors' radar, saw average sales decline by 17% and 45%, respectively," the report stated. "Pune, which is an NRI-driven market, also witnessed a decline of 29% in average sales. In Kolkata, sales in 2017 saw smallest decline of 12% as compared to average sales of 2013-14." Hyderabad was the only city that saw a 32% growth during the period. Anarock CEO Anuj Puri said the delay in handing over projects in NCR and the controversies surrounding them must have played on the minds of people while taking decisions on buying a house. "It has been a bad time, especially as speculation has played havoc with the Indian real estate market. Reduced buyer confidence because of irrational project delays and diversion of capital also contributed significantly to the decline," he said. Asked about the dip in the sales, Amit Modi, Credai vice-president in western UP, said: "Sales in NCR have suffered specifically because of NGT orders stalling construction. Farmers' protests and compensation issues are also to blame. These factors shook the investor sentiment." [url]https://timesofindia.indiatimes.com/city/gurgaon/ncr-flat-sales-fell-68-in-5-years-study/articleshow/63373195.cms[/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: Poortenant
On: March 20 2018 09:59 AM
That is great news,another nail in the coffin for the property bust we all have been waiting for!
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: anujwadhwa
On: March 20 2018 01:06 PM
[QUOTE=MANOJa;n2589219] [h=1]NCR flat sales fell 68% in 5 years: Study[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Sharmila-Bhowmick-479234316.cms"]Sharmila Bhowmick[/URL]| TNN | Mar 20, 2018, 07:09 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63372807,width-400,resizemode-4/63372807.jpg[/IMG] NOIDA/GURUGRAM: The National Capital Region ([URL="https://timesofindia.indiatimes.com/topic/NCR"]NCR[/URL]) has witnessed a 68% fall in real estate [URL="https://timesofindia.indiatimes.com/topic/sales"]sales[/URL] between 2013 and 2017, research group Anarock has said in a report. The report says the total number of housing sales across NCR stood at 37,600 in 2017 compared to 1,18,000 in 2013. Changes in real estate policy brought by the introduction of RERA and the implementation of the GST have been cited as the main reasons for the slum in sales. Officials said the real estate market had already started shrinking by 2013-14 and witnessed the sharpest dip in sales by the end of 2016 and the middle of 2017, when the RERA and GST were implemented. The two factors had not only affected real estate in NCR, but the entire country. In 2017, only 2 lakh houses were sold nationally. The [URL="https://timesofindia.indiatimes.com/topic/study"]study[/URL] by Anarock was not limited to NCR but was based on absolute sales figures from six other top real estate markets of India —Mumbai Metropolitan Region (MMR), Bangalore, Pune, Hyderabad, Chennai and Kolkata. "The findings of the report reveal that larger areas such as NCR and MMR, which were heavily driven by investors, recorded a massive drop of 68% and 27%, respectively, in average sales from 2013-14 to 2016-17. Bangalore and Chennai, also on investors' radar, saw average sales decline by 17% and 45%, respectively," the report stated. "Pune, which is an NRI-driven market, also witnessed a decline of 29% in average sales. In Kolkata, sales in 2017 saw smallest decline of 12% as compared to average sales of 2013-14." Hyderabad was the only city that saw a 32% growth during the period. Anarock CEO Anuj Puri said the delay in handing over projects in NCR and the controversies surrounding them must have played on the minds of people while taking decisions on buying a house. "It has been a bad time, especially as speculation has played havoc with the Indian real estate market. Reduced buyer confidence because of irrational project delays and diversion of capital also contributed significantly to the decline," he said. Asked about the dip in the sales, Amit Modi, Credai vice-president in western UP, said: "Sales in NCR have suffered specifically because of NGT orders stalling construction. Farmers' protests and compensation issues are also to blame. These factors shook the investor sentiment." [url]https://timesofindia.indiatimes.com/city/gurgaon/ncr-flat-sales-fell-68-in-5-years-study/articleshow/63373195.cms[/url] [/QUOTE]But I still dont see prices going down... Compare to current RTM sectors/societies like new town and DEW still have such a high prices... why spending 1cr for the place which doesnt have public transport, compelete ghost zone in the evenings, no daily needs, far from already habitated places, far from center, no metro as of now... these are my thoughts... Please share yours.
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: humblefool
On: March 20 2018 06:07 PM
[QUOTE=anujwadhwa;n2589294][QUOTE=MANOJa;n2589219] [h=1]NCR flat sales fell 68% in 5 years: Study[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Sharmila-Bhowmick-479234316.cms"]Sharmila Bhowmick[/URL]| TNN | Mar 20, 2018, 07:09 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63372807,width-400,resizemode-4/63372807.jpg[/IMG] NOIDA/GURUGRAM: The National Capital Region ([URL="https://timesofindia.indiatimes.com/topic/NCR"]NCR[/URL]) has witnessed a 68% fall in real estate [URL="https://timesofindia.indiatimes.com/topic/sales"]sales[/URL] between 2013 and 2017, research group Anarock has said in a report. The report says the total number of housing sales across NCR stood at 37,600 in 2017 compared to 1,18,000 in 2013. Changes in real estate policy brought by the introduction of RERA and the implementation of the GST have been cited as the main reasons for the slum in sales. Officials said the real estate market had already started shrinking by 2013-14 and witnessed the sharpest dip in sales by the end of 2016 and the middle of 2017, when the RERA and GST were implemented. The two factors had not only affected real estate in NCR, but the entire country. In 2017, only 2 lakh houses were sold nationally. The [URL="https://timesofindia.indiatimes.com/topic/study"]study[/URL] by Anarock was not limited to NCR but was based on absolute sales figures from six other top real estate markets of India —Mumbai Metropolitan Region (MMR), Bangalore, Pune, Hyderabad, Chennai and Kolkata. "The findings of the report reveal that larger areas such as NCR and MMR, which were heavily driven by investors, recorded a massive drop of 68% and 27%, respectively, in average sales from 2013-14 to 2016-17. Bangalore and Chennai, also on investors' radar, saw average sales decline by 17% and 45%, respectively," the report stated. "Pune, which is an NRI-driven market, also witnessed a decline of 29% in average sales. In Kolkata, sales in 2017 saw smallest decline of 12% as compared to average sales of 2013-14." Hyderabad was the only city that saw a 32% growth during the period. Anarock CEO Anuj Puri said the delay in handing over projects in NCR and the controversies surrounding them must have played on the minds of people while taking decisions on buying a house. "It has been a bad time, especially as speculation has played havoc with the Indian real estate market. Reduced buyer confidence because of irrational project delays and diversion of capital also contributed significantly to the decline," he said. Asked about the dip in the sales, Amit Modi, Credai vice-president in western UP, said: "Sales in NCR have suffered specifically because of NGT orders stalling construction. Farmers' protests and compensation issues are also to blame. These factors shook the investor sentiment." [url]https://timesofindia.indiatimes.com/city/gurgaon/ncr-flat-sales-fell-68-in-5-years-study/articleshow/63373195.cms[/url] [/QUOTE]But I still dont see prices going down... Compare to current RTM sectors/societies like new town and DEW still have such a high prices... why spending 1cr for the place which doesnt have public transport, compelete ghost zone in the evenings, no daily needs, far from already habitated places, far from center, no metro as of now... these are my thoughts... Please share yours. [/QUOTE]Very simple. Contrary what is posted here, nobody believes the world tomorrow. If this country has to grow, cities have to grow. Firstly there was no crash, even there ever will be, the moment the job situation improves, people have to again come to cities. This means only one thing, earlier you buy, the cheaper you will get it for. And nothing much has changed on the population story or Indias growth story, these trends are here to stay atleast for this century. So people buy whatever they can get their hands on. Why buy late and pay extra money, when you can buy now.
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: flatowner2
On: March 20 2018 08:22 PM
In NCR I guess due to pathetic quality no one ready to buy these flats and for quality product majority can not afford. In 2014 , 1 % population bagged 48% wealth and which increased to 71% from 48% in 2017 , so it clearly shows that purchasing power of avg indians is not increasing and something is wrong in the system .
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: MANOJa
On: March 20 2018 08:39 PM
[QUOTE=anujwadhwa;n2589294]But I still dont see prices going down... Compare to current RTM sectors/societies like new town and DEW still have such a high prices... why spending 1cr for the place which doesnt have public transport, compelete ghost zone in the evenings, no daily needs, far from already habitated places, far from center, no metro as of now... these are my thoughts... Please share yours. [/QUOTE] Sales are down and that doesn't necessarily transform into rates getting down, especially when a cartel of Builders, Brokers & Politicians are trying to keep the rates up . I am seeing rates down in many Individual Properties across the country ( where this Cartel is absent ) .
With warm regards,
Team IREF
With warm regards,
Team IREF
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