Does anyone have idea, how the contruction process going on for Unitech Gardens 2 in Gurgaon.
Are they on track.

When is expected possession.

You seem to be one who can not afford the cost ,hence grapes are sour kind of fella.

We have a company guest house there as well as in PV 1 & Vipul Greens, I found the people really upscale in Uiniworld Gardens as compared to rest of the two.

At least on Sohna road , it seems to be the best that is why prices are Rs 500-700per sq ft. higher than rest of buildings.

Also the rentals are higher by Rs 4000-5000 per apptt., now people are not paying higher amount for nothing.

Let's not say that they all do not understand value for money.

I am looking for a ready-to-move in property, but unable to find at a lower than peak price. I am scared the prices are likely to shoot up again.

More opaque a market, more the incentive for incumbents to not agree to the reality, until its too late and it becomes obvious to everyone. This includes everyone (property developers, dealers, consultants, advisors, bankers....)

For example, DLF & unitechs of RE were blindly building 1cr+ houses even when they knew that there is not so much demand for those. They were saying it was sold out (after selling less than 5% of the stock) and rates are being revised up. Remember Unitech Grande (suppposedly sold out at 7500+psft back in the day). I wonder how Sanjay Chandra is converting a sold out project to "integrated township".

Because, it was a party and no one wants to call it quits in the middle of the party.

Now they all say "we have eaten humble pie".

My friend, you must read news papers, listen to news on tv, surf the net, if not just talk to people to keepup with the real world.

Living in isolation is not the mantra of good life.

 Already the experts,as experts opinion change with the changing scenario, are  indicating that the worst is over.

 People who are only reading negative comments on this site may be living in a fool's paradise. Prices for the ready to move in units have never come at the discount of 20-30% period in this tough time. To a surprise of everyone, builders have held up their unsold inventory.

Here is an economy where mortgage-to-GDP ratio is a scant 3% as opposed to 25 - 60% in the west, which means the buying public still has tremendous unspent borrowing power. The much vaunted demographic dividend - a primarily young population forming households and seeking new housing - is still as true in 2009 as in 2006. The country's highly conservative banking system, barely affected by the all the toxic stuff spewed by those darn Yankees into the global financial markets, still has lots of money to lend at interest rates which have been recently subsidized by RBI. Admittedly there are fewer buyers, especially those whose income is directly linked to the global economy, especially export. However, India's is not a highly export-dependent economy like China's, and the domestic market's strength of India shows in its relatively stable unemployment figures even in today's economy. In simpler terms, only a small percentage of real estate buyers in India are in such globally depressed fields as IT or financial sectors. The vast majority still has the same income, and more importantly, the same consumer confidence in 2009 as in 2006.

So why has the country's real estate market lost 20% to 30% of its value in 2009, a fact that only the extremely delusional would deny? None of the American economic woes apply to India. Yet India's real estate market is down by exactly the same percentage as America's.

My theory is that just like Americans went on a consumption binge fueled by credit that was too easy,  Indians, too, went on a real estate buying rampage fueled by credit that became available for the first time to the masses. Mortgage lending is a post-liberalization industry in India, and while never reckless or predatory, it did turn average investors into overnight real estate moguls and average salarywallahs into owners of 3BHK/2,000 sq ft apartments with clubhouse and pools. The mere advent of mortgage lending enabled people to buy way above their means. And that makes bubbles, and bubbles always burst.

One may question if a fellow who was making 1 lakh per month in 2005 or 2006 and bought a 50 lakh apartment - the proverbial 3BHK/2,000 sq ft - really bought above his means. That is 4 times of one's annual salary. In my opinion, he did buy above his means, and the reason was available credit, which was the Indian equivalent of the easy credit that destroyed the real estate market in the US. For your information, buying real estate at 4 times of one's annual salary is exactly the type of binging that landed us in a real estate meltdown here in the US.

In India, it is this mid-segment of the market that is in trouble, not real estate in general. There is currently a 6.5 million unit shortage in the urban housing market of India, but it is mostly in the sub-1,000 sq. ft. segment. Understandably, the likes of Unitech and DLF, long used to delivering luxury products, cannot turn on a dime and start building millions of sub-1,000 sq. ft., below-20 lakh ruppes units to meet the huge demand. But that is where the sweet spot of India's real estate market is and will remain for decades. Just look at China. The average size of an apartment sold in Beijing by Century 21 - so we are not talking about the jhuggis of Beijing - is 925 sq. ft. This is the average size in a country whose PPP (purchasing power parity, or "buying power" in layman terms) is 66% higher than India's. What do you think is the average size of apartments that have lost 30% of their value in places such as Gurgaon and Noida? It is considerably more than 925 sq. ft. Frankly, people did overspend on real estate in India, and every binge is followed by a hangover.

The project site appears to be next to their tulip perla project. I've seen the perla site, not a brick has moved there for the last 7-8 months but location and prices wise the project looks attractive

So no there are options available in the 30 lakh range for a 3 bhk (ninex, atrium, tulip orange)

Unitech just launched another project (unitech residences) near to it's Uniworld gardens 2 in the same price range (~ 3200 psf). It appears unitech is just trying to lure customers by making houses affordable by reducing the size of the house and not the psf rate

<a href="http://www.tuliporange.in/">http://www.tuliporange.in/</a>

The project site appears to be next to their tulip perla project. I've seen the perla site, not a brick has moved there for the last 7-8 months but location and prices wise the project looks attractive

So no there are options available in the 30 lakh range for a 3 bhk (ninex, atrium, tulip orange)

Unitech just launched another project (unitech residences) near to it's Uniworld gardens 2 in the same price range (~ 3200 psf). It appears unitech is just trying to lure customers by making houses affordable by reducing the size of the house and not the psf rate

The demand is there, and further construction is at a standstill.

New projects will hardly see the light of the day as they are imaginary and meant to give cushion to credit crunched developers.

Inspite of all the gloom and doom, the prices have not come down.