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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 5 post(s) to this thread, the last poster was humblefool.
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: spectre
On: March 5 2018 10:13 AM
Many builders among 447 firms under I-T radar over Rs 3,200 crore TDS scam Read more at: https://realty.economictimes.indiatimes.com/news/regulatory/many-builders-among-447-firms-under-i-t-radar-over-rs-3200-crore-tds-scam/63164780
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 5 2018 10:15 AM
[h=1]About 4.4 lakh homes remained unsold in top seven cities in 2017: JLL India[/h] The consultant expects high level of unsold inventories would result in stable housing pricesPTI | March 05, 2018, 07:46 IST As many as 4.4 lakh housing units were unsold in seven major cities at the end of 2017 with Delhi-NCR contributing maximum at over 1.5 lakh flats, property consultant [URL="https://realty.economictimes.indiatimes.com/tag/jll+india"]JLL India[/URL] said. The consultant expects high level of unsold inventories would result in stable housing prices. According to its recent survey, JLL said, "as many as 4,40,000 [URL="https://realty.economictimes.indiatimes.com/news/residential"]residential[/URL] units remain unsold across key cities of India at the end of 2017." Mumbai, Delhi-NCR, Chennai, Hyderabad, Pune, Bengaluru, [URL="https://realty.economictimes.indiatimes.com/tag/kolkata"]Kolkata[/URL] are seven cities covered in this survey. Out of the total unsold housing stock, the consultant said, 34,700 units are ready-to-move-in flats. Delhi-NCR has the highest volume at around 1,50,654 units which remained unsold in 2017, while Chennai has the highest percentage of completed unsold inventory at close to 20 per cent. Kolkata had the lowest volume of unsold inventory at about 26,000 units. JLL India CEO and Country Head Ramesh Nair said: "The residential market has been on a wait and watch mode for some time on account of many structural changes that have happened." The real estate sector has witnessed changes like real estate law RERA, [URL="https://realty.economictimes.indiatimes.com/tag/demonetisation"]demonetisation[/URL]and GST that have led to a general slowdown in overall construction activities as well as housing demand. "We expect sales velocity to start picking pace in the second half of the year mostly on account of stable prices making entry attractive," Nair said. With significant volume of unsold inventory, JLL said the capital values across most markets will be kept buyer friendly to ensure sales velocity. "...with a slowdown in launches, across the markets, we can expect to see more unsold inventory to get absorbed in the next few quarters," it said. The consultant noted that buyers now prefer to enter the market closer to date of completion, which further accelerates absorption of the unsold units. "Capital values remain stable with a downward bias across most markets making it buyer favourable," JLL said. As per the survey report, the Delhi-NCR property market saw the highest volume of unsold inventory of 1,50,654 units spread across the perimeter of Delhi, [URL="https://realty.economictimes.indiatimes.com/tag/gurgaon"]Gurgaon[/URL], Ghaziabad, Faridabad, Noida and [URL="https://realty.economictimes.indiatimes.com/tag/greater+noida"]Greater Noida[/URL]. Upon analysis, Noida and Greater Noida together contributed to nearly 60 per cent of the total unsold inventory, mostly in under-construction projects. "Noida and Greater Noida have had a tumultuous past because of which, end users are circumspect in making their purchases," JLL said. Mumbai has about 86,000 unsold units and Bengaluru nearly 70,000 units while Pune has 36,000 unsold flats. Hyderabad witnessed unsold inventories of about 28,000 units. [url]https://realty.economictimes.indiatimes.com/news/residential/about-4-4-lakh-homes-remained-unsold-in-top-seven-cities-in-2017-jll-india/63164643[/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: humblefool
On: March 5 2018 02:24 PM
[QUOTE=spectre;n2586255]Many builders among 447 firms under I-T radar over Rs 3,200 crore TDS scam Read more at: https://realty.economictimes.indiatimes.com/news/regulatory/many-builders-among-447-firms-under-i-t-radar-over-rs-3200-crore-tds-scam/63164780 [/QUOTE]Lol. The government isn't even blinking for scams worth lacs of crores. And you are worried about this timmy little pick pocket operation.
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: spectre
On: March 5 2018 03:42 PM
[QUOTE=humblefool;n2586355][QUOTE=spectre;n2586255]Many builders among 447 firms under I-T radar over Rs 3,200 crore TDS scam Read more at: https://realty.economictimes.indiatimes.com/news/regulatory/many-builders-among-447-firms-under-i-t-radar-over-rs-3200-crore-tds-scam/63164780 [/QUOTE]Lol. The government isn't even blinking for scams worth lacs of crores. And you are worried about this timmy little pick pocket operation. [/QUOTE]Don't know what you expect from the govt ... I conclude the following 1. Builder did so, as it has little money to run the business, typical telltale sign of any nearly bankrupt business. 2. Currently banks are wary about bad lending, so getting loans for such projects are difficult for a consumer 3. In case builder goes kaput, apartment owner will be in trouble as lenders will try to get back their money 4. Eventually it is employee's responsibility to ensure that income tax is paid! Nowadays IT department sends SMS every quarter on the amount of tax deposited.
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 5 2018 06:42 PM
[QUOTE=spectre;n2586390][QUOTE=humblefool;n2586355][QUOTE=spectre;n2586255]Many builders among 447 firms under I-T radar over Rs 3,200 crore TDS scam Read more at: https://realty.economictimes.indiatimes.com/news/regulatory/many-builders-among-447-firms-under-i-t-radar-over-rs-3200-crore-tds-scam/63164780 [/QUOTE]Lol. The government isn't even blinking for scams worth lacs of crores. And you are worried about this timmy little pick pocket operation. [/QUOTE]Don't know what you expect from the govt ... I conclude the following 1. Builder did so, as it has little money to run the business, typical telltale sign of any nearly bankrupt business. 2. Currently banks are wary about bad lending, so getting loans for such projects are difficult for a consumer 3. In case builder goes kaput, apartment owner will be in trouble as lenders will try to get back their money 4. Eventually it is employee's responsibility to ensure that income tax is paid! Nowadays IT department sends SMS every quarter on the amount of tax deposited. [/QUOTE]This is what we are crying about now. People seem to be thinking lack of liability helps businesses grow, while in reality that is true only with societies that function with a high degree of trust. In a society like India, sometimes you start believing in the nehruvian socialist era controls, to some extent. In some interview NRN once talked about the absurd laws one had to produce a lot of liability documentation for some thing like a current account attached to a loan in the 80s. That sounds totally absurd. Until you face a situation like now, where people scoot with thousands of crores outside the country. Simply put these are not so black and white as we would think. So eventually you will need regulations to keep these sort of abuses in check.
With warm regards,
Team IREF
With warm regards,
Team IREF
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