Is this the right time to buy a home? What are the factors you should consider before you negotiate a deal? Which are the best real estate opportunities in India right now?
How will the property market behave after the budget? Will the real estate prices fall further, go up or stabilise?
To answer these and various other money and invetsment related queries, real estate expert Tushar Bungley, hosted a chat with Get Ahead readers on June 24.
For those of you who missed the chat, here's the unedited transcript:
mallik asked, Has the real estate market reached the bottom, will there be an uoward trend?
Tushar Bungley answers, at 2009-06-24 13:31:39Real estate market shall not see any downward trend things will improve.
niharika k asked, What about kamothe, navi mumbai. these days lots of demand in that area. Is there any problem in that area. Are all builder are genuine in that area
Tushar Bungley answers, Good area and a good investment option, genuineness of the builders depend on the possession they deliver, since that is the order of the day.
sunil asked, Hi What is the best option to invest in proprety to take the comerical land , indivdula flats or invest in farming land
Tushar Bungley answers, People who do not have accomadations can go in for individual flats which will serve both as investment option as well as accomadation, but if somebody has a surplus cash looking for investment option, commercial land is good option, as the markets will improve.
Srini asked, is the real estate market in correction mode still....
Tushar Bungley answers, Market shall not see any downward trend, things shall improve, individuals shall miss out a chance to buy high end homes at lower prices.
somi asked, Hi, How do u see the real estate rates in mumbai right now??..Is it expected to come down further after the budget ?? or will there be any impact on the real estate market because of budget?
Tushar Bungley answers, Rates in Mumbai are about to increase and see some improvement in prices.
balu asked, Hello , could let me know the going per sq feet rate for residential land in Kattankalathur ( near SRM college ) 1 Km from the GST road ? Thanks
Tushar Bungley answers, Its around 1800 - 2000 Rs/ sqft in this area. Check out www.100nests.com for more details.
jain asked, how is crossings for living..plz advise between arihant, skytech and gaur
Tushar Bungley answers, Crossing republik is good, cannot suggest any specific project but depends on the delivery of possession of the project, so opt for ready to occupy projects.
red asked, what do u think is the right time to invest in property i.e now , later 1-2 yrs etc??
Tushar Bungley answers, As of now this is the right time, as market is in the stage of improvement. Invest before it reaches the peak.
atul asked, i am playing to bay flat in bangalore near old airport can this time is best
Tushar Bungley answers, Right time to buy, prices have fallen in this area by around 10-15 %, invest before the markets take a upward trend.
DINESH asked, I have a residential house for sale.How do I go about selling it?
Tushar Bungley answers, You can post your property on www.100floors.com and get immediate buyers.
monu asked, is aundh good palce to invect in pune ?
Tushar Bungley answers, Aundh has great investment potential, can go ahead and invest.
Leena asked, Good afternoon, We are planning to purchase a house at Bramhand, thane (close to Hiranandani) @ 2600/sq. ft. wherein construction will be completed in Dec09. is it a good bet
Tushar Bungley answers, Good deal, since the possession of the flat is Dec 09 and the prices as per the current market.
Poonam asked, Are real estate prices likely to come down in Juhu and Bandra?
Tushar Bungley answers, No definitely not, real estate prices shall not go down further, if your idea of investment are flats or apartments.
Arvind asked, Is 5000 sq/ft a good rate for Goregaon East? The builder is GAC Constructions.
Tushar Bungley answers, This seems to be a good price - do check out www.100nests.com for more detailed property trends.
rtrefrrr asked, you are syaing Right time to buy for all questons. what if they lose the job?
Tushar Bungley answers, Sit at home in which you have purchased.
dfd asked, Is it a Good Idea to invest in Sri Perambadbur? 2bhk flat around 1000 SQFT? How will the improvement be over there?
Tushar Bungley answers, Sri Perambadhur is a good area to invest in considering the number of factories and other properties which are coming up in that area. You can expect good returns in 3- 5 years.
realguest asked, Hello Mr.Bungley, Is Mysore a good place to invest in now??
Tushar Bungley answers, Yes Mysore being a tier II city is a good investment option, and the connectivity through NICE corridor shall make a potential investment option.
Nikhil asked, I am planning to buy a 2bhk flat in kaggadasapura bangalore. What are the prospects for development in this area
Tushar Bungley answers, Area is improving, but is close enough to the city center - definitely a good buy at around 2000 - 2500 Rs/ sqft
tube asked, Hi..sir..can I buy a property in hyderabad..is it right time buy ?
Tushar Bungley answers, Prices in hyderabhad have seen drastic fall in prices, invest before the market sees an upward trend.
rk asked, Dear Mr. Tushar do you have any idea about Hyderabad real estate
Tushar Bungley answers, Not sure what you are exactly looking at in Hyderabad. You can view real estate trends in Hyderabad here http://www.100nests.com/app/Hyderabad/valuation-trends?cityName=Hyderabad
sandyg asked, How is Omaxe Heights Project in Nehar Par area of Faridabad.? Is it worh investing in these flats ?
Tushar Bungley answers, Its a good project.
Abhay asked, Hi, can you please suggest some property in NCR that one can buy at price range of 20-30 lacs
Tushar Bungley answers, Do check out www.100floors.com and do a search using your criteria.
langs asked, Why are you saying, its good time to buy the property. interest party must wait for little more as this is the time builders are feeling pinch and would lower the rate. willing to buy right now at still higher price, we are not letting price to come down. Financially, builder have started to feel pinch harder now. Tushar is not telling this
Tushar Bungley answers, Well you can definitely start looking and start making negotiations and then finalize on a price that suits you.
tharle asked, Dear Thushar, u r helping real estate market buy proposing to buy.. And we dont have money to buy the hiped value...
Tushar Bungley answers, The current fall in prices is a right time for investors, if things improve individual investors shall not get such good deals. Captains of real estate have made it clear that they shall not reduce the prices, so make use of the current market situation.
cxvc asked, Tushar sounds very pro builder. The downtrend of property prices is still not over. The worst may still be waiting to come. He is advising people to buy just to boost the property sales. Please be cautioned. recession is still coming and you never know if you will have your job tomorrow
Tushar Bungley answers, Well we gain nothing when you buy properties and we have nothing to do with builders. These are insights from our research team based on analysis of the market and other conditions.
Ashok Kumar asked, i am interested in buying property at Uppals Group Sec 86 faridabad. can i go for that? Kindly advise please
Tushar Bungley answers, Not sure about this specific project.
khardgar asked, How about investing in a property on top of mt. everest
Tushar Bungley answers, Try investing there, when people are ready to invest on Mars why not Mt Everest
sachhiinko asked, How the Pune property market looks like?
Tushar Bungley answers, Pune is a tier II city and a good investment options, things here shall improve but not see any fall in prices.
jyoti asked, I am planning to buy ozone ever greens, can u tell me is this an approved project and what can be the right price per sqare feet for this.Is it advisiable to buy now or 6 months latter.
Tushar Bungley answers, Ozone greens is a good project, before you intend to purchase any project just dont see the reputation of the builder, check the delivery of possesion and the legality of the project.
sure asked, what do U feel about chennai market? saturated !
Tushar Bungley answers, Chennai has not seen any correction in prices, so no question of saturation, its stagnant.
umas asked, Is it the right time to buy property in Bangalore
Tushar Bungley answers, Yes areas like North Bangalore is a good investment option.
Venkatesh asked, Sir, What about the tier 2 cities in South India ? Are they good for investment as the metros have become overcrowded.
Tushar Bungley answers, Yes cities like Pune, Mysore, Jaipur are some good investment options.
Rajeshsisodia asked, Hi, I am planning to buy a builder flat in Noida. The rate which I have seen is ranging from 2500/sq ft to 3200 sq/ft depending upon the locality. for e.g. Sec 119 is relatively cheap in comparison to other sectors like 45, 50, 34 etc. Is this the right time to buy the property in Noida ? Do you expect rates to come down further ?
Tushar Bungley answers, The prices seem to be as per the current market, Noida has great investment potential, further there shall be no fall in prices as indicated by the real estate industry.
mys raju asked, i am a resident of mysore in karnataka . With the news that the real estate prices have come down drastically across india . i wanted to purchase a site . but the prices have only marginally come down . why ?
Tushar Bungley answers, Prices of flats and apartments have come down, but individual sellers are not ready to sell their sites like builders or developers, hence there is a marginal decline in prices.
abc asked, Hi Sir, Can you tell me what are approriate rates in the Pimple Saudagar, PUNE area. Considering possesion is 1 year later. Is the rate 2450 suitable for decent society?
Tushar Bungley answers, Rs.2450/- is right price for Pimple Saudagar, but it is advisable to go in for ready to occupy flats rather than waiting for 1 year in these days of liquidity crunch.
jyoti asked, the delivery is may 2011 but no work has been started yet,is this due to reason they donot have approval yet
Tushar Bungley answers, Yes this may be because of liquidity crunch, but there shall be a penalty clause in the agreement between the purchaser and builder, which can be invoked.
Tushar Bungley says, Thanks for participating in this chat session, log on to www.100floors.com & www.100nests.com for all your property related queries.
He is a certified Legal Research Assistant from High Court of Karnataka and a guest Legal expert for property related legal show on 'Real Estate TV'.