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So are the prices of real estate up or down - I am CONFUSED!!!!!!


By OompaLoompa, Section Ask Questions
Posted on Sat May 03, 2008 at 07:40:38 PM EST

Hello,

I own few properties in Gurgaon bought from 2002-2006.

By 2006 I was getting convinced that the ride is coming to an end. My parents did not let me sell in 2007, making a big hue and cry ( I live in USA), that don't sell, metro is coming , sohna road is the next Manhattan , etc etc.

Lately they have been quite embarrassed after the prices did not increase and effectively stayed at late 2006 levels.

Now they are clamoring that prices are moving up again. They say that

Orchid petal is now 3350 - up from 3200 a month ago
Vipul Belamonte is 5200
Vatika City prices are also increasing..

Please tell  me FACT or FICTION?

Thanks.

< I Bought A Flat, Earning Rs 3 Lakh As Rent, Can NRIs Must Pay Tax For Income In India | Is there a fountain on terrace of SS Group's Project "Southened Elite"? >

Beware (none / 0) (#5)
by raul on Sun May 04, 2008 at 03:29:49 PM EST

Beware of people with ulterior motives and agenda who are busy in floating rumors around. Who are these people.





Sohna Road Vs Singapore (none / 0) (#4)
by babu bhai on Sun May 04, 2008 at 11:21:30 AM EST

There is no comparision of Sohna Road with Manhattan or Singapore.yes only in price it is at par with the Singapore/Malaysia/manhattan
sohna road will take another 100 yrs to become Singapore.
Conditions of Road from Rajiv chowk to Badshahpur is Horrible.
Power Cut,Only rich people can afford the 24 hrs Powerbackup.
have you ever seen how people reach to sohna Road from Southcity-ii,Mayfield Garden without any public transport.
u never feel safe during night time in Sohna Road
those people who got their property in 2002/2003 are lucky.






Prices are already down (none / 0) (#3)
by raul on Sun May 04, 2008 at 09:38:08 AM EST

If prices have not changed in last 2+ years, it means they are effectively down 20% which is how much the investment would have increased in value if it were in bank FD. In India property prices make a big jump in a 10 year cycle. Either sell now or wait till 2012 for the next big jump in prices.





You are a winner indeed! (none / 0) (#2)
by knightrider on Sun May 04, 2008 at 06:52:23 AM EST

Dude..you bought real estate in 2002 when it was really really low. I congratulate you on some really smart moves. Being in the US, I do not need to explain to you how a bubble operates. While it inflates nobody can believe that prices can come down and when it deflates, the reduction is unbelieveable.

I would advise that you book atleast some profits and invest them in the US market now or maybe a couple of months later. If you buy in the US now, the max you could lose is maybe 15-20% and you could gain a lot over a period of 5 years. If you want to hold for another 5 years in India, it would still give returns though nowhere near what it was before.

As long as you are not buying in this overheated market, I am with you!

cheers
KN






whom wud u rather believe (none / 0) (#1)
by happyinvestor on Sun May 04, 2008 at 02:29:56 AM EST

ur parents, or people with ulterior motives and agendas here.

prices are at their all time highs, and the reasons why they wll not come down is the same why they have been going up so far.

rest assured ur investments will fetch u more in 6 motnhs time that they will now and which is still more than what they wud have fetched 6 months back.

i congratulate u on ur life in the US and ur multiple houses in gurgaon - people like u are winners in life, and dont pay heed to the many losers like bitsee here.

i dont know abt the next manhattan, but i can guarantee u that it will be the next singapore.

as it is there are rumours floating around of nri's doing bulk deals - people getting together and buying 6-8 flats...with this sort of inherent strenght, there is no way the market is going down.

there has been no rate cut, diwali is not too far away either, if u need to do some profit taking, u shd atleast wait till then.

good luck.





Sohna Road ... the next Singapore!...... HA HA HA! (none / 0) (#6)
by aka on Mon May 05, 2008 at 04:02:36 AM EST

Happyinvestor,

You have a funny sense of humour, thinking that Gurgaon and Sohna Road will be the next Singapore.

There is only one way to make the whole of India into Singapore - have political leaders and the people like they are in Singapore. Do you know that for many years people could not even bring Chewing Gum into Singapore?

Otherwise, with apne neta, and apne desi log, the black money, lack of civic sense, and spitting paans etc. etc. it will be a miracle if Gurgaon can become a decent city from its current status of a Gaon (but pretending to be a world class city).

Vaise khyaal achcha hai - dream karne ke liye.

 



[ Parent ]


gurgaon vision: false dreams! (none / 0) (#7)
by greatcrossover on Fri May 09, 2008 at 10:22:14 AM EST

with so many civic problems like huge electicity outages, collapse of civic institutions, no public trsansport, abysmal infrastructure, hoping gurgaon to magically become singapore on its own, is like a fool's dream..

we know, in india, government is far less efficient than the private sector, which is just the opposite of what the governments are in advanced countries.. in other countries, govt is equally efficient if not more ,

the concept of public private partnership is therefore cited as a workable solution for countries such as ours, where govt does not have either will, nor finances, nor managerial competence to transform the cities , on its own.

hence, for gurgaon to become prosporous, Govt of haryana should approach/partner with major foreign countries / cities to adopt part of gurgaon and develop the selected portion of the city/district on trial basis. eg, Singapore can be requested to develop one portion of the city, China another, Japan another, US another.. on a win win basis.

there should be a lose governance kind of system where private entities/ foreign countries can take ownership ( emotional , not political) of development.

Govt should step back a bit for a decade from its supposed role of development of our cities and allow a positive, innovative partnership to blossom, with a co operation model with the people and governments whom we want to emulate in our dreams.



[ Parent ]





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