Bangalore Apartment prices falling down drastically...

[mybdaprop]

@
4) In Reality, during 2009-10 when BSK 6th Stage Prices were quoted Around Rs. 1,500 to 2,000. Same properties are quoted in the range of Rs. 3,500 to Rs. 4,300/sq.ft. Similarly during the same period, in SMV Layout It was Rs. 1,500 average. Today it was jacked upto Rs. 4,500. Even the Duplex houses built on a 20X30 EWS Site are quoted around Rs. 80 Lakhs today, which were selling at around 35 lakhs 3 years Back.

Dont you think who is responsible for jacking up prices.. can you expect the price to become double in 2-3 years.. in junk areas like BSK 6th stage and SMV etc. as educated we must avoid encouraging all these malformed, jackedup prices from builders and agents... than encouraging it ....

Will see how far builders will be able to hold up to their prices if they continue to see lack of demand...

All people from outside bangalore came here to earn money and make thr life comfortable.. and its sad that they all are pouring more money than what they potentially earning from salary into jackedup prices from builders and agents...

[Hesh_Mysore]

@msn1270
Completely agree with your views.

@mybdaprop
Friend, you are just all over the place. You started if off saying all prices have fallen down and rents in Jayanagar is a low range and now you are back saying that its not worth to pay so much in BSK 6th stage and people are just pouring more than they can afford. So whats the essence of the post. Is it that prices are falling or is it the prices are not worth. They are not the same.

I live in J P Nagar and even in 7th phase which is not the center as jayanagar, its impossible to find proper houses for rent for the prices you mentioned. About the apartments you mentioned, i personally know people who bought in a couple of them and the prices are not reducing and the occupancy is not as low as you mentioned and the prices are increasing.
About builders able to hold prices, it was said the same in 2008, but that too passed. Its simple, as long as there is need this will continue. The day the need subsides, this will slow down, but not burst away. The economies of western countries and ours are totally different. Correction to some extent is possible time to time.

[mybdaprop]

I really appreciate all your views,, a post should put thinking cap on for the viewers and should induce both far and against discussions...

Here are some good reference for Sluggish market conditions...

Check this article on how Indian Economy slowing down due to global economy slowdown in 2013

http://indiatoday.intoday.in/story/indi ... 66911.html

http://blogs.wsj.com/indiarealtime/2013 ... s-economy/



Car companies are cutting down productions due to very low (10 years record low) car sales demand...

http://articles.timesofindia.indiatimes ... r-industry



IT companies stoped expanding in bangalore..check this article..

http://articles.economictimes.indiatime ... a-software


Wipro suffering by lack of projects and employee utilisation layoffs

http://articles.timesofindia.indiatimes ... tilization



@Mysore..

Who ever in India born after 1980 are directly or indirectly depends on European and American companies either in IT, Banking or BPO sector...

So European and American economy directly affects our Indian economy...

10 to 15 years back our Indian Economy was strong, as after 2005 our Indian economy started following liberilisation of banks... as banks started giving hefty loans to IT and other private sector employees

rates started to jack up accompanied by junk builders and agents/owners greed..

These IT people will not be able to support EMI's if European and American or other foreign countries projects goes for a toss due to global economy slowdown...


@msn and @mysore..

in response for the comment/s

3) I don't see any correction in the rentals. Forget about jayanagar, people are quoting Rs. 15 to 20K for a 3 BHK in Nagarabhavi BDA Complex Area.
It is silly joke to expect Rs. 12 to 15K in Jayanagar anytime even in the near future. If there are any such vacant homes in the posh jayanagar,
please share me the info, I would like to relocate there immediately.

Check the below link for so many rentals available in jayanagar for a price range 8k to 15K and relocate and live in best areas for cheaper rents..

http://rentals.sulekha.com/rent-individ ... -bangalore

When searching for rents if you approach agents they will artificially jack up prices for commission, so check classfields for direct offer for rent from owners and negotiate..

@msn

J P nagar 7th phase or anywhere in blore its not easy to get rental properties if you approach agents as they create artificial scarcity and force you to commit for more price..
check classfields and direct rental offers from Owner and save time as mentioned in above link..



=============

Our Indian real estate is exactly following what American and EU real estate bank liberalization policies of give mighty loans to home buyers and what ever crisis seen on EU and American real estate
markets happened will surely happen in India in near future.. due to global economic slowdown..

Offcourse if people realise when to enter into reality sector and when to exit profitibally, they can make life truoble free...

[Hesh_Mysore]

@mybdaprop
The sulekha link you sent has rents which are 10K for single bhk of 500 sqft and 15K min for 800 sqft onwards. How is that cheap. A proper 3 bhk will be more than 20K without car parking and is 25K onwards.

Anyways, no issues on the thinking caps. If prices comes down its better for everyone.I will also think of buying a site in bangalore . I dont see that happening, but just can see things not grading up as earlier. You see it otherwise.

[msn1270]

mybdaprop

the links which you showed related to 9th block low rent properties are adjacent to the Marenahalli Slum area.
Verify the same link, even the 600 sq.ft 1BHK is quoted an average of Rs. 10K in 9th Block. is this cheaper ??

During the period 2002-2003 I was paying a rent of Just Rs. 3,000 for a 3BHK spacious descent house in Rajajinagar near Navrang Circle. Today Nothing comes below Rs. 15K-18K in the same area for an ordinary 2BHK. Who jacks up the real estate price is immaterial. But transactions are very much happening and people are pouring money from various routes whether they are locals or outsiders.

You must also remember that day by day younger generation is migrating to the urban areas leaving rural areas for XYZ reasons. All the tier 1 or 2 or 3 cities are witnessing unscientific/uncontrolled/unhealthy growth. Whether water is there or not, Greeenary is there or not, Public Transport is there or not, people doesn't care while buying.

Simple Example, Price of the daily essential Rice Increased from an average of Rs. 35 to Rs. 55 couple of month back. Has people stopped buying Rice??? KMF Increased Nandini Milk product prices by Rs. 3-4, has anyone stopped consuming Milk ??. Whether people like it or not, it is inevitable, They Buy it.

Even I Wish to grab a property at the price of the year 2002 or at least 2005. But who is there to sell at that price today ??
As long as Politicians, Black money is involved & Due to lack of transparency, we can't expect drastic changes in India.

[mybdaprop]

We are not discussing here what was rent in 2002 vs 2013.. in classfields u can locate property by looking on "View on Map" link and find the location u want and many 3bhk available for 15K tag in Jayanagr...

People might know when to enter reality sector and go for ownership when it is affordable.. and any person staying in blore from 2002 and not made an attempt to own when it was affordable... can own home as the signs mentioned in above threads links... will certainly make it affordable for people like u, me and general public in near future.. and we are arldy seeing lack of demand in RE sector which will continue to drive the prices down going frwd...

[mybdaprop]

Yet so many live examples of weak economy trend...

SBI India's Biggest bank's profit down by 18.5 % due to non payment of loans from Realestate Builders

http://www.business-standard.com/articl ... 358_1.html



Mumbai share market free fall for weak global market

http://economictimes.indiatimes.com/mar ... 235962.cms



IT Company HP net profit down by 32%

http://www.oneamericanews.com/hp-profit ... estimates/


Bangalore Retail Space Rentals down by 43%

http://www.thehindubusinessline.com/new ... 238479.ece

[Chandu]

Last week ( saturday ) in Times of India - there was an additional 32 pager advertise for "Home affaris"
lots of article trying to influence buyers ( from apartment builders)

[pursh_bennur]

Hi All,
I noticed in the smaller AD's section of the classifieds of last week's TOI , there were many individual ad's on "Half Price sale/new aparatments at throw away price ....to quote the price range were in 20 to 35 lakhs!!!
I have been regularly seeing this ad section page....but this week there were more number of ad's of this type!!

Thanks
Puru

[msn1270]

pursh

Mostly you are referring to the Dreamz Infra ads. Same team has placed a thread in this forum also.

http://www.mybdasites.com//viewtopic.ph ... amz#p20693

Don't get trapped with such ads. They don't have any completed projects history, Yet they claim
working on more than 25 projects simultaneously in Bangalore at a time & giving at a 40% lesser
than price than the market price.

Be Cautious with such ads. Earlier in Orange properties, Ittina Properties, Aishwarya Group,
Country Club also made similar fancy ads. Now all are counting behind the bars.

All we need is Genuine pricing. Not discounts.