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If you are a home buyer waiting for property prices to fall before buying, here’s a counter-thought: the big investors are actually moving out of real estate.
One signal came last week when Deutsche Bank asked the Mumbai-based Lodha Group to return its money with a clean profit. The group forked out Rs 2,542 crore to the bank to enable it to exit its investment.
According to a Business Standard report, apart from Deutsche Bank, there are at least six other private equity and property funds that have exited. Among them: HDFC Property Ventures (two investments of Rs 715 crore), Kotak India Real Estate Fund I (Rs 575 crore), Indiareit Fund (Rs 500 crore), India Advantage Fund Series I (Rs 305 crore) and Trinity Capital plc (Rs 120 crore).
That’s a cool Rs 4,700 crore-and-odd opting out of real estate . The problem is fly-by-night “investors” are realty’s big mafia – keeping prices unreasonably high and preventing actual users from buying. This is also one reason why the Deutsche Bank’s are running away.
Thursday, 16 February 2012
Thursday, 9 February 2012
Mumbai placed at 199 in list of 200 cities by per capita income
Read a report from Brookings Insitute.
Article Link
Top 3 Cities
1 Hartford North America 75,086
2 Oslo Western Europe 74,057
3 San Jose North America 68,141
Bottom 3 cities
198 Alexandria Middle East and Africa 2,248
199 Mumbai Developing Asia-Pacific 1,990
200 Cairo Middle East and Africa 1,989
So the question is: We have lowest per capita income, but highest real estate prices? All RE Bulls are immediate to compare Mumbai with New York, London, Tokyo, Singapore and Sanghai. While our income is just $1990 per capita. Are these BULLS cracking something???
Article Link
Top 3 Cities
1 Hartford North America 75,086
2 Oslo Western Europe 74,057
3 San Jose North America 68,141
Bottom 3 cities
198 Alexandria Middle East and Africa 2,248
199 Mumbai Developing Asia-Pacific 1,990
200 Cairo Middle East and Africa 1,989
So the question is: We have lowest per capita income, but highest real estate prices? All RE Bulls are immediate to compare Mumbai with New York, London, Tokyo, Singapore and Sanghai. While our income is just $1990 per capita. Are these BULLS cracking something???
Wednesday, 8 February 2012
Real estate BUY/SELL classifieds thread
Let use this thread to post classifieds for sale of apartments/houses/plots in India. I will pin this thread to the top so it can be accessed directly. Sellers please saleable Square Feet area, price and contact information. Buyers please do your due diligence before making the final purchase. Brokers can use this thread if they mention their commission percentage. Please flag any trolls or undesirable postings.
Real estate BUY/SELL classifieds thread
Let use this thread to post classifieds for sale of apartments in India. I will pin this thread to the top so it can be accessed directly. Sellers please saleable Square Feet area, price and contact information. Buyers please do your due diligence before making the final purchase. Brokers can use this thread if they mention their commission percentage. Please flag any trolls or undesirable postings.
Sunday, 5 February 2012
Ajit Dayal on real estate prices in India
I think someone with some real guts pointed out why Real Estate prices in India are artificially kept high by Politician / Builder nexus.... The unfortunate thing is there is no outrage. All PSU banks have large amount of money to Builders, and not to needy folks who want to start business, generate employment, etc... GOI has given tacit support to such an act. This situation needs to come out, unfortunately Main Stream Media has not reported this in detail.
Video Link
Video Link
Friday, 3 February 2012
Mumbai Home Sales Drop to 3-Year Low as Prices Climb to Record
Article Link
Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.
Sales in Mumbai, India’s most expensive property market, fell 17 percent from the previous quarter to 7.59 million square feet, said Pankaj Kapoor, founder of Liases Foras. The city’s unsold inventory, or the number of months needed to clear stock at the existing absorption rate, climbed to 44 months. A “healthy market” normally maintains about eight months of inventory, according to Kapoor.
“The likely scenario looks like we will see a dip in prices seeing the dismal sales and as liquidity remains tight,” Kapoor said in a phone interview from Mumbai yesterday.
Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.
Sales in Mumbai, India’s most expensive property market, fell 17 percent from the previous quarter to 7.59 million square feet, said Pankaj Kapoor, founder of Liases Foras. The city’s unsold inventory, or the number of months needed to clear stock at the existing absorption rate, climbed to 44 months. A “healthy market” normally maintains about eight months of inventory, according to Kapoor.
“The likely scenario looks like we will see a dip in prices seeing the dismal sales and as liquidity remains tight,” Kapoor said in a phone interview from Mumbai yesterday.