If you go to a property broker as a buyer, hell quote high. But havent prices fallen? Nah, hell say, only marginally. Go to him as a seller and hell tell you its a depressed market and quote a ridiculously low price. So, which is true?
A bit of both, actually. Property prices are down but havent really crashed. Not yet and not at least in metros such as Delhi and Mumbai. But new properties on a citys periphery are going relatively cheap — often by as much as 25-30% than the asking rate three months ago.
Developers are throwing in sops other than lower prices to get buyers interested. Some are even offering the undertaking of another rebate if prices fall further. They say the fish is finally beginning to take the bait - buyers have started coming in the past couple of weeks.
More : timesofindia.indiatimes.com
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As the financial crisis grips world economies, the real estate sector is giving away freebies to lure customers.
Unitech is offering a free LCD TV on booking of property while one can get free Solitaire worth Rs 1.25 lakh on booking of property from Tulip. Another real estate giant, Jaypee Greens, is giving away a luxury car on purchase of property.
So it is raining discounts in the real estate market this festive season. But that is no the only thing luring customers.
More : ibnlive.com
Indian Real-estate appreciation will depend upon location
Real-estate price of India is going up. But the escalation in prices is not linear. Not all real estate is going up in prices equally. The trick in buying real estate in India is in buying a property (especially land) at a price next to nothing when it is in remote area and very few developers eying on the same. If you are not able to do that then do not invest when a developer build apartments or shopping complex or homes in the remote areas. The reason is after the builder is done
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Lehman Brothers Holdings Inc.s bankruptcy filing may delay the sale of about $30 billion of commercial real estate assets at a time when property values are eroding, leaving less on the table for creditors.
Lehman has ``$30 billion worth of real estate, which probably isnt worth $30 billion, said Jeffrey Baker, executive managing director of real estate broker Savills LLC in New York. ``Going through a bankruptcy process, the assets are going to be liquidated, and they will be liquidated at market pricing.
Lehman was scrambling until just before it sought bankruptcy protection on Sept. 15 to sell the real
Tilakram Sharma, a retired air force officer and a real estate broker from the Noida suburb of the Capital, is busy these days interviewing at construction companies.
Sharma, a mechanical engineer by training, is looking for a job in construction companies that do fabrication work his real estate brokerage business has considerably slowed these days.
Last year, in a week we used to have 10 bookings but now its a big deal if we manage 10 bookings in a month, confirms Arun Sharma, who jointly manages Gaur Consultant with his father.
More : livemint.com
