Property Mumbai

  • Subscribe to our RSS feed.
  • Twitter
  • StumbleUpon
  • Reddit
  • Facebook
  • Digg

Wednesday, 16 February 2011

Luxury Housing Boom Takes a Breather

Posted on 13:41 by Unknown
Article Link

Around 3,700 luxury apartments are currently under construction in Mumbai and its suburbs with a price tag of $1 million or more, according to Delhi-based research firm P.E. Analytics Pvt. Ltd. Of these, around 1,440 are unsold. In Delhi and its suburbs, one quarter of the 2,300 luxury apartments under construction are unsold, according to the firm. Residential apartments in India, including those in the luxury market, are typically sold before they are fully constructed. Analysts say that developers in India sometimes delay the construction of their project to ensure that they don't have a large number of unsold units in their ready buildings.

Some of the luxury apartments in Mumbai and Delhi have become 20% to 30% costlier than they were a year ago, thanks to growing wealth in India as well as general euphoria about the real estate market.

But now, "buyers are not happy with these high rates," says Sanjeet D. Narain, managing director of Mumbai real estate consulting firm Narains Corp.

At the same time, many buyers have a lot of money stuck in the Indian stock market which has fallen more than 10% so far this year. So, they want to "wait for some more time," says Aditya Juneja, a real estate broker in Gurgaon, a suburb of Delhi.
Email ThisBlogThis!Share to XShare to Facebook
Posted in | No comments
Newer Post Older Post Home

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Popular Posts

  • Builders and their inflation predictions
    It comes as no surprise to me that the members of the real estate community including investors are disappointed at the contents and comment...
  • Some sense returning to the real estate market
    Mint reporting on the slowdown in PE deals. New Delhi: India’s real estate party may be cooling down rapidly. Global private equity firms sa...
  • Montek says Goldman Sachs analyst is wrong
    “We think the Reserve Bank of India will need to raise effective policy rates by 300 basis points in 2010 to bring policy rates to neutral, ...
  • BMC plans ot hike property taxes
    Finally property dealers are acknowledging that property prices are beyond reach in Mumbai along with the fact that there are too many apart...
  • India's residential sector likely to see oversupply - Crisil
    Crisil reporting accurately on the state of the housing market in India. >>> Real estate companies have been launching newer resid...
  • Laughing Waters is no Laughing Matter
    http://www.bangaloremirror.com/index.aspx?page=article&sectid=1&contentid=2011020420110204081607853b53eeb38 An IT czar, two top-notc...
  • Rajus' land bank could be much bigger
    Farfetched but true. The greed for land is has sunk a solid cash cow business built on cheap labor, dollar arbitrage and government subsidi...
  • Battle for Mumbai's skies set to begin
    Times of India reports Mumbai: The skyline of congested areas in Mumbai like Girgaum, Grant Road, Bhuleshwar Nagpada and Parel could soon be...
  • Observations On China's Bubble, Or The "Lose-Lose" Reality Of A Financial Cocaine Addiction
    Not from India, but we are not very far behind in speculation.... Jim Quinn's has penned a good post on the "mother of all bubbles...
  • Housing bubble comparisons - US vs India
    Rediff.com has an article bankbazaar.com on the reasons why the US housing bubble went bust. At the end of the article there is a paragraph ...

Categories

  • "bubble diagnostics"
  • "fortune tellers"
  • "investor activism"
  • "Santa Cruz"
  • 2G scam
  • a
  • Ahmedabad
  • alibaug
  • Ambani
  • asbestos
  • bad loans
  • Bangalore
  • banking
  • bankruptcy
  • base price
  • bear market
  • BJP
  • black money
  • bollywood
  • BRICS
  • brokers
  • bubble
  • budget
  • budget 2012
  • builders
  • bust
  • chandigarh
  • Che
  • chennai
  • Chidambarm
  • china
  • Cialdini
  • classifieds
  • Commercial RE
  • common sense
  • Congress
  • consumer protection
  • corruption
  • credit infusion
  • criminal
  • crisis
  • deals
  • debt
  • default
  • Delhi-NCR
  • diagnostics
  • discount
  • DLF
  • documentary
  • dubai
  • economy
  • EMI
  • Europe
  • exodus
  • exurbs
  • f
  • fire-safety
  • fire-sale
  • floods
  • FMP
  • foreclosure
  • fraud
  • fsi
  • Goa
  • goldman sachs
  • group purchases
  • GST road
  • guidance
  • gujarat
  • gulf
  • h-1b
  • Haridwar
  • hinjewadi
  • HNI
  • housing crash
  • hyderabad
  • hyderabjaipur
  • i
  • idiot
  • indiastockmarketbubble
  • inflation
  • Influence
  • infosys
  • interest
  • interest rates
  • investments.
  • investors
  • ipl
  • IPO
  • italy
  • jaipur
  • kbc
  • kerala
  • kochi
  • kolkata
  • land
  • layoffs
  • legal
  • Lehman
  • leverage
  • loans
  • lobby
  • London
  • luxury homes
  • maha-mumbai
  • malls
  • mantri
  • Maraimalai Nagar
  • marathi
  • marketing
  • Maytas
  • mba
  • media
  • Media; Times Group;
  • morons
  • mumbai
  • Mysore
  • nagpur
  • nashik
  • navi mumbai
  • New York
  • NRI
  • paid news
  • PE
  • pending approval
  • politicians
  • poll
  • property
  • protest
  • prudent investing
  • psu
  • pune
  • raids
  • RBI
  • realtors
  • realty funds
  • recession
  • redevelopment
  • regulator
  • repossession
  • Residential RE
  • retail
  • Rishikesh
  • Rupee
  • Russian Mafia
  • saneprice.com
  • scam
  • sea-link
  • Sensex
  • sez
  • shops
  • singapore
  • skywalk
  • slowdown
  • speculation
  • sra
  • srk
  • stocks
  • stone
  • subprime
  • suckers
  • taxes
  • tdr
  • telangana
  • terrorist attacks
  • theft
  • tides
  • touts
  • townships
  • trumpet
  • twitter
  • ULCA
  • unemployment
  • Unitech
  • unscruplous builders
  • unscrupulous builders
  • USA
  • value
  • vastu
  • Vizag
  • wikileaks
  • yale
  • zoning

Blog Archive

  • ►  2013 (11)
    • ►  September (2)
    • ►  August (1)
    • ►  June (2)
    • ►  April (2)
    • ►  March (1)
    • ►  February (1)
    • ►  January (2)
  • ►  2012 (34)
    • ►  December (1)
    • ►  November (2)
    • ►  October (4)
    • ►  September (1)
    • ►  August (1)
    • ►  July (3)
    • ►  June (4)
    • ►  May (2)
    • ►  April (2)
    • ►  March (3)
    • ►  February (6)
    • ►  January (5)
  • ▼  2011 (49)
    • ►  December (6)
    • ►  November (7)
    • ►  October (3)
    • ►  September (2)
    • ►  August (2)
    • ►  July (2)
    • ►  June (5)
    • ►  May (4)
    • ►  April (5)
    • ►  March (5)
    • ▼  February (3)
      • Luxury Housing Boom Takes a Breather
      • Mumbai home prices may drop significantly from rec...
      • Alibaug calling
    • ►  January (5)
  • ►  2010 (95)
    • ►  December (1)
    • ►  November (7)
    • ►  October (6)
    • ►  September (6)
    • ►  August (4)
    • ►  July (7)
    • ►  June (8)
    • ►  May (10)
    • ►  April (9)
    • ►  March (16)
    • ►  February (9)
    • ►  January (12)
  • ►  2009 (160)
    • ►  December (12)
    • ►  November (9)
    • ►  October (11)
    • ►  September (10)
    • ►  August (13)
    • ►  July (10)
    • ►  June (13)
    • ►  May (10)
    • ►  April (13)
    • ►  March (18)
    • ►  February (21)
    • ►  January (20)
  • ►  2008 (142)
    • ►  December (10)
    • ►  November (13)
    • ►  October (19)
    • ►  September (5)
    • ►  August (11)
    • ►  July (11)
    • ►  June (9)
    • ►  May (18)
    • ►  April (11)
    • ►  March (8)
    • ►  February (14)
    • ►  January (13)
  • ►  2007 (8)
    • ►  December (8)
Powered by Blogger.

About Me

Unknown
View my complete profile