Hyderabad realestate update

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[blogLipi Admin]

The situation has been changed. It’s a tough time for builders and the house owners who are planning to sale apartments. One or two years back people used to think that buying an apartment is a good investment because there were chances in price increase. Two years back the price was almost half of the current price. Now if you want to buy a three bed room apartment then the minimum price would be around 50 Lacs in the city. Your monthly EMI would be around Rs.50,000/- per month. So you must earn Rs.90,000/- (approximately) per month to buy an apartment. Though IT people earn a lot but how many people earn Rs.90,000/- per month? The number would be very less.

Now the USD price has gone down (around Rs.40/-). If NRIs try to transfer money to India then they would be loosing a lot.

Housing loan interest has increased to around 11% (floating option). So people don’t think that it’s a good time to buy an apartment.

For apartment the SFT price has already gone up (Rs.3,000/- to Rs.4,500/- in City) and chances of further increase in near future is less.

This is the best time to buy a plot. Do your own research. Don’t get carried away by any ones input. Also please share your thought by posting comments here.

[viharir]

It's true that NRIs are worrying about their dollars while sending back to India. In the past, they use to put the money in FCNR (B) with the fond hope of getting interest as well as dollar appreciation. Of course, this was done only when they do not route their money towards other investment avenues.

As far as my knowledge goes, the real estate prospects in hyderabad are minimal to say at least for another 2 years time. Its better to park the surplus funds in other available avenues or other upcounry areas.

But if anybody has study flow of surplus funds, it may be the good time to start investing in real estate if they have a long term perception in capital gains

[V78]

You can wait another 3/4 months

Comments at Rediff

Dear Friends nice to see all the comments. The property rates are going to fall, Already there is a small shrink in the Automarket. The Rupee is going strong this will now start having a adverse effect on everything.
The salary will be firm, non productive staff will be laid off, cost savings will increase. This is all going to have effect on the complete market, Builders are able to hold for some time because of the liquidity they have gained during some of these months and some of the fundings from private financiers once the things start rolling backword everyone wants to quit first.
Just wait till diwali of the demands doesnot pick up we are going for a really big correction upto 25 to 30% in some of the places in Mumbai where property rate are just hold-up for nothing. The rise in Bank rate will show its effect in next 4 or 6 months as the burden will be to high for the 2nd flat owners to sustain it.
Buyers who want to buy flats have to wait for another 3 to 4 months to get the best deal as at that time pressure will be immense as people would like to quit faster before the disaster.
Already there are lot of defaults in Home loans this means its time for a huge correction.
Dont follow the Media advise of no correction or prises will rise as they are getting paid to do this hype.
We will all see for ourselves where the property rates will land to in next 5 months.

See the comments at http://www.rediff.com/money/2007/sep/10pro.htm

[V78]

Another Rediff comennts from the same URL

Prices are going up only because of black money. People don't know where to hide their black money. It is really hurting the honest citizens (i.e employees).

One way to control black money in real estate is by making all the real estate transactions go through auctioning process (something similar to stock market). This can be implemented in stages. This will ensure that all the deals are done only through white money. As we have the software wizkids, it is not difficult for us to implement necessary tools to achieve this.

People with black money can not invest in the stock market. They can not deposit in bank. They also can not lend it to others (due to severe competition from banks).

They have only 2 ways. 1) Buy Real Estate 2) Buy Gold.

Govt doesn't have the guts to freese all the bank lockers and give the property back to the people only if it is properly accounted in their IT returns.

Please let me know what you think of this idea.

Vijay

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