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Finally...The beginngings of the correctionBy azeen, Section Member Diaries
Hi,
The much awaited(by buyers) and feared(by speculators/brokers etc.) correction seems to have started knocking the doors in Gurgaon. Actual transactions in terms of sale agreements being at an all time low in the past three months, the prices have started softening. The first ones to experience this are the numerous CGHS in and around Sector 55, 56. From a high of about 2700 psf, prices in good locales are down to 2550...the white component has substantially gone up and the sellers are now ready to discuss discounts on immediatel closure.
This follows a significant reduction in actual disbursements of Home loans by HDFC/ICICI/LIC/Citi etc. clearly feeling the pinch of the rate increase. For those hoping for MNCs to come in...well a reality check is in order: two big ones are about to step in, Dell, with its pink premises already an eyesore and another big BPO.Both will have fresh engineers who can by no stretch of imagination afford to by at the current rates.
So to summarise( and play fortune teller :)
On Price correction:Actual experience, having just bought a CGHS last week. On home loans: Well, I am in marketing with an MNC so that was easy given there are enough batchmates everywhere. 3. Dell/BPO: My girlfriend is the recruitment manager for Dell and brother is senior partner in the US for the BPO.
Finally...The beginngings of the correction | 11 comments (11 topical, 0 hidden) | Post A Comment
Finally...The beginngings of the correction | 11 comments (11 topical, 0 hidden) | Post A Comment
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