Dear Friends,
In my opinion, the RE bubble won't burst in India in near future because of following reasons,
1) Increasing population in tier I, II & III cities
2) Income levels are increasing
3) Shortage of land in the heart of cities (small or big)
4) House is the basic need of every individual and everybody dreams of owning at least one (!) house.
5) Continuous increasing cost of land, building material and labour
I agree that during reccessional period housing or land prices are stagnant or come down. But they do not come down in proportion of increasing trend ! e.g. Prices in Pune were increasing almost by Rs.100 to Rs. 200 psf per month according to area in 2010 to 2011 but when reccession hit in 2011-12, the prices are almost stagnant in some areas and in some areas those have come down by only Rs. 100 or max Rs. 200 psf since 2011. And in 2013 those are again on rising trend.... I was also awaiting / expecting major fall in prices when I was looking for home in 2010 to 2011 but finally I booked home at Rs. 3400/- psf 3BHK in Ravet in July 2012 and today the final building in the same scheme is being quoted at Rs.5000/- psf.
How much do you think the builder will negotiate? Rs.100 or max Rs.200/- psf but still it will be Rs.1400/- above the rate , I have booked. This is the condition of todays RE in India in such hard times...! when jobs are not secured and economy is at its lowest... Builder has booked almost all the flats (only 3-4 are remaining before the building gets completed).
My honest advise....if you are planning to book flat/land , please do it whenever you are having sufficient funds. Don't wait for bubble to burst ! because it will never (and never to your expectations!).
In my opinion, the RE bubble won't burst in India in near future because of following reasons,
1) Increasing population in tier I, II & III cities
2) Income levels are increasing
3) Shortage of land in the heart of cities (small or big)
4) House is the basic need of every individual and everybody dreams of owning at least one (!) house.
5) Continuous increasing cost of land, building material and labour
I agree that during reccessional period housing or land prices are stagnant or come down. But they do not come down in proportion of increasing trend ! e.g. Prices in Pune were increasing almost by Rs.100 to Rs. 200 psf per month according to area in 2010 to 2011 but when reccession hit in 2011-12, the prices are almost stagnant in some areas and in some areas those have come down by only Rs. 100 or max Rs. 200 psf since 2011. And in 2013 those are again on rising trend.... I was also awaiting / expecting major fall in prices when I was looking for home in 2010 to 2011 but finally I booked home at Rs. 3400/- psf 3BHK in Ravet in July 2012 and today the final building in the same scheme is being quoted at Rs.5000/- psf.
How much do you think the builder will negotiate? Rs.100 or max Rs.200/- psf but still it will be Rs.1400/- above the rate , I have booked. This is the condition of todays RE in India in such hard times...! when jobs are not secured and economy is at its lowest... Builder has booked almost all the flats (only 3-4 are remaining before the building gets completed).
My honest advise....if you are planning to book flat/land , please do it whenever you are having sufficient funds. Don't wait for bubble to burst ! because it will never (and never to your expectations!).