Do you know what's the going rate per square foot in your neighbourhood? Is it the best time to buy real estate/ home? Or should you wait for a while before buying your dream home?
What are the chances of real estate prices going further down? Or are they likely to go up in the near future? When will the property market stabilise?
To answer these and various other money and invetsment related queries, real estate expert Tushar Bungley, hosted a chat with GA readers on May 13.
For those of you who missed the chat, here's the unedited transcript:
subs asked, Hi Tushar, i am first time home buyer, can you let me know, when can i go for buying in this year. when is the right time in tis year. want to buy flat in hyderbad.
Tushar answers, at 2009-05-13 13:45:06You can wait till the end of this financial quarter (Q2 09) and then take a call. However start looking at projects and start negotiating.
PVN asked, Is it the right time to invest in realty? Or do I need to wait for some time? How much % appreciation I can expect after 5 years time.
Tushar answers, Which city / area are you looking at ? Your ROI will depend on that.
chander asked, Dear Tushar, I have booked an apartment at Jalahalli by Vaishnavi Developrs @ Rs.2400. Is the promoter & rate OK please?
Tushar answers, If this is an all inclusive rate (for amenities, car park etc) then this is a good rate.
Psrkrishna asked, How about the land prices in Coimbatore. Whether the rates have come down? Is it reasonable to buy now? In Ramnagar area and in Velandipalayam area?
Tushar answers, Land in Ramnagar area is around 1500 - 1800 Rs/ sqft. This looks like a good time to buy in Coimbatore.
Dipanjan asked, Hi Tushar I want to buy land in south kolkata and build my own house .please tell me what all I need to know about the land I am going to purchase and how much it will cost approximately for 4 cottah's of land
Tushar answers, For legal needs before buying land - do check www.legal.100floors.com Cost of the land would depend on the locality in South Kolkota you are looking at.
Ratan asked, I am planning to buy a golf villa near kolar, 60 Kms from bangalore and 35 Km from international airport at 800 rupees sqfeet for 4000 sq feet plot. This has a 18 hole course coming up by dec 2010. Is this investment advisable?
Tushar answers, Looks like an interesting investment, if you are looking at this for only an investment purpose - then this looks like a good deal.
dipeshdipsy asked, Hi Tushar, I am planning to buy a 2BHK house in Kothrud area of Pune. The price quoted is 3000 to 4000 per sq ft. Shall I wait further for price cut down the line?
Tushar answers, This quoted price seems to be on the higher side. Ideally price here should be around 2500 - 3000 Rs/sqft
ak asked, Hi tushar, How abt purchasing 2 BHK as investment in kothrud or wakad area in Pune...will that be beneficial
Tushar answers, Yes, these are good areas and investment in these areas are expected to give good returns.
amit asked, Hi i want to buy a home in pune.But still the prices in pune are too high so will it come down?
Tushar answers, You might want to wait and watch in Pune, possibly in another 2-3 months.
VASU asked, Hi Tushar, i want to buy a 2bhk flat in Ambernath - East. (Dist. Thane) Builders are asking a rate of Rs.1850 to 2650 psq.ft. Is this rate is Justified ? shall i go for it ? or i ll go further to Badlapur ?
Tushar answers, This price is good and is as per market rates. You can go for it.
richa asked, This is kinda urgent as we r abt to make a deal! I bought a 1500 sq ft flat in Sarjapura Road (Kasavanahalli) for 39.5L (all inclusive). The society has all the amenities and is ready to move in. How does the deal sound?
Tushar answers, Looks like a good deal - though the price quoted seems to be a little on the higher side. Is this a new project ?
Vinay asked, Hi Tushar, i want to purchase my second flat in either mumbai (thane or navi mumbai) or any upcomin metro. With a budget of 30L, which place would you suggest as the best option for me and when should i go in for this flat? Rent would be my look-out!
Tushar answers, Navi mumbai is a good option. If you are looking at returns through rent - you might want to explore budget housing in Bangalore, Chennai and Hyderabad. You can check some properties on www.100floors.com
harish_thimakapura asked, I am planning to buy a BDA approved Plot in Kanakapura Road, Bangalore 50ft X 80ft. The owner is quoting Rs.1750/- per Sq. ft. So is it a correct price and a right time to buy.
Tushar answers, The price is very good- you can go for it.
satish asked, tushar my mom had a flat in ahmedabad sold now at 12 lacks now she want to have a 1bhk in mumbai/navimumbai/thane or in its vicinity wats ur call on this this is to save shortterm capital gain tax & investment purpose
Tushar answers, Please contact our legal team on www.legal.100floors.com who can give you a detailed explanation on this.
shri asked, How much is the rate per sq. ft. in Kothrud(MIT,DP Road),PUNE? Should we wait further for buying flat for self occupancy?
Tushar answers, Apartment Prices in Kothrud vary from 2300 - 2850 Rs/ sqft. You can wait for sometime probably around 2 - 3 months before making the transaction.
vik asked, What's your view about Ramprastha builder's Atrium project in Gurgaon. 24L for 965sqft 2 BHK all inclusive
Tushar answers, The price is good - not sure about this specific project.
sd asked, I am planning to buy 3BHK in Navi Mumbai with a budget of 55-60 Lacs. With all this correction, I have not seen prices of good properties falling by more than 5-10%. Pl. advise options.
Tushar answers, Don't expect a fall of more than 10% in Navi Mumbai.
madhu asked, Hi Tushar, I would like to be house in old airport road bangalore.what could be the current prices? is their any chance for coming down the prices.
Tushar answers, Prices have dropped around 3-5% in the Old Airport road area. Buying an independent home will cost you anywhere between 4000 - 7000 Rs/ sqft.
Balamuralikrisshna asked, I had bought a flat(my second) in perambur chennai for about 3400 per sq ft. The last the builder sold to others were @ 4000. Is it worth keeping the flat or wud the price go down further below my buy price!! Also with the interest payable, should someone look at a appreciable difference in order to hold on to the asset!!
Tushar answers, Prices in chennai have not seem much correction compared to other cities and metros which have seen anywhere between 3 - 10% correction. Perambur is a good locality, you can hold this property.
kaukish asked, NANO HOMES! I am planning to book a NANO HOME by tata for investment purpose.How is the idea ?
Tushar answers, Definitely a good idea - this seems to be the order of the day.
wadhwanisunil asked, I am looking to buy residential property in Mumbai Santacruz East..Vakola...what shold be the ideal price here for a new property....is this the right time or should we wait
Tushar answers, Prices in this area could range from 8000 - 12000 Rs/ sqft. You might want to start looking and then negotiate.
sdg asked, Hey Tushar, I have bought an apartment in West Bengal and I want to buy another in Hyd/Bangalore/Mysore. Could you suggest me what could be the right time to buy and which one of these would be a better in terms of resell value?
Tushar answers, Considering your options given - Bangalore seems to be a good option. You can search for properties on www.100floors.com
sansona asked, Hi Tushar, I heard that Pune market will see correction of around 30% by Diwali. Is that true? Also, in Kalyani nagar how much should be current rate?
Tushar answers, 30% seems to be too much. You can expect around 5-15% Prices in Kalyani nagar vary from 4000 - 6500 Rs/ sqft
jasipra asked, I have purchased auction property from HDFC. They gave me only keys to the property and one draft sales deed. On going to the property, I saw that the keys did not match the lock on the property. When I approached HDFC, they washed off their hands saying that the property was sold on as is where is basis. Can I rescind the contract? On further enquiry, It is understood that this is builder's mischief.He is asking for 4 lakhs. This property is in kamothe -300 sq.ft. I paid Rs.4.30 lakhs.
Tushar answers, Please contact our legal team on www.legal.100floors.com They shoudl be able to take this further and work out a solution.
uparx asked, With the retail market facing a wall of sorts, how do you foresee the mall segment in this country? What is the future of malls?
Tushar answers, Atleast in the coming year - the outlook seems to be weak.
RAJIV2009 asked, hi..Tushar, wht are the rates in kharghar,Navi mumbai. Is it ok for Rs.2900.00 per sq feet for a new project ?
Tushar answers, This price seems to be on the higher side - however that depends on whether its an all inclusive price.
apoorv asked, i like one project called "The Greens" and the developers is "Home Space" and the size is 1370 sqft, 2BHK, price at 1900 per sqft, ready to move it, area- Mahadevpura, Near Marathalli juction, do you think do i need to go for it?
Tushar answers, This is a very good project. In fact we offer special discounts on thsi project. Check out www.deals.100floors.com
RajGhosh asked, Hello Mr. Tushar, This is Raj here. I wanted to buy an apartment in Delhi. Right now i work there in barahkhamba. Can you please advice if buying now will benifit or should I wait for 2-3 years more?
Tushar answers, Now is a good time to buy in Delhi - check out delhi properties for sale on www.100floors.com
Nivvy asked, Hi Tushar, What could the price range per Sq.ft near sarjapur road and Horlur?
Tushar answers, In Sarjapur road, the apartment price range is from 1800 - 3500 Rs/sqft
Anoop asked, How much should I pay for a 2 BHk flat (900sq ft) in Cochin?
Tushar answers, Depending on the area and locality and amenities provided by the builder this could vary from 2500 - 5000 Rs/ sqft
chetan asked, i have been a investor in real estate for long, and had good returns. now i m invested in couple of commercial and residential property in navi mumbai. now the projest are in semi finished stage,and builder is going slow with recession. should i book loss and exit or wait for the tide to turn. if we have to wait the what should be the time horizon we should be looking for?
Tushar answers, Given the current market conditions, the time horizon for profits could be anywhere between 5 - 7 years.
RameshRakshita asked, Which portion of Bangalore, would be very good for investment for growth as of now.
Tushar answers, South bangalore around Hebbal and Devanahalli
Rajashekar asked, I am planning to buy a home at B.T Kawade Road, Mundhwa, Pune. Today It costs Rs 2450/sr.ft ( 6 months before it was Rs 3200/- per Sq ft). Pl advise
Tushar answers, This price seems to be good - just check when the project is expected to complete and the progress % right now.
Raj12 asked, Hi, I had entered into a sale agreement with the seller to buy his apartment. He has been withholding some of the documents that prevented me from making progress in applying for a loan and now before the contract being lapsed, the seller has come back saying he got an better offer from anotherparty and wants to terminate the contract. He has not encashed the cheque that I gave as the advance and he is telling that he is ready to give that back. Do I have any legal locus standi to push through the deal. Am I eligible for any compensation.There is still 15 days for the agreement to lapse automatically and he is waiting for that to happen. And since I am yet to get some required documentation from sellers side, so cant proceed further. Pls advise how to proceed.
Tushar answers, Please contact our legal team on www.legal.100floors.com and they will guide you specifically on this issue.
satyajit asked, Hi Tushar I want to buy a 2 BHK flat ( 900 to 1000 sq. ft area) for my own use at Kandivali East. My budget is up to 40 laks. But now builders are quoting for ready posseion house all above 50 lakhs. Suggest me should I wait
Tushar answers, You might want to wait and watch the scene for another 2 - 3 months before making a decision.
Amith asked, I am looking at buying a flat in bangalore. Do you think it is a good time to do so? I have seen a flat for 23 lakhs . Do you think it is a good deal? This is my first flat for residence purposes.
Tushar answers, This is a good time to buy in Bangalore - but where is this flat ?
balamurali asked, I bought a property in South Rural Bangalore Gottigere for 2760 per sq. ft. The price asking price for the same neightborhood is 2400 per sq.ft. Will prices fall again in South Bangalore further? Is it a good time enter real estate.
Tushar answers, The price you have paid seems to be on the higher side.
Vaibhav asked, I have taken a flat on rental basis. Then I applied for postpaid mobile connection. Mobile company asking me for Police Verification Certificate. What this certificate is? I have done L&L aggrement on Rs.100 Bond paper in govt office with lawyer. Please give me suggestion what to do.
Tushar answers, If you need a address proof on a stamp paper or any other legal document we can help you get it done. Contact us on www.legal.100floors.com
Varsha asked, Hi Tushar, What could the price range per Sq.ft be Thrissur Town?
Tushar Bungley answers, Depends on the location in which you intend to purchase and also varies on the type of property
bbb asked, what is the potential of Naharpar in Faridabad
Tushar Bungley answers, Good invest option
Ramkumar asked, Hi Tushar, i am interested in Nagarjuna Meadows in Yelahanka-Bangalore. But the last price they quoted is 2900 /sft. Is it worth in this market condition..? what should be the right price..?
Tushar answers, This price is on the higher side, though this depends on the amenities and other facilities offered by the specific builder. Ideally the price for a luxury apartment would be around 2500 - 2700 Rs/ sqft
Bizwiz asked, I want to purchase a flat where I could move in and stay for the next 5-10 years. I am looking at Ready to Move in Apartments with all amenities (pool,gym, club house etc.) Should I wait for a few more months or should I go ahead and purchase now. From what the "agents" tell me, it looks like the cost of ready to move in apartments will not come down. Your comments please
Tushar answers, Which city are you looking at ?
hi asked, Do u think prices for residential properties will come down in Thane in next 6 mnths? is it right time to buy? or when will b the right time to buy?
Tushar answers, They are expected to see a correction of 3 - 7% You might want to wait and watch for 2 - 3 months.
rahula asked, Hi, I am from Mumbai. HDIL is coming up with a new project in Kurla. Price is 4251 per sqft. Should I go for it or wait?
Tushar Bungley answers, Good deal, you can intend to purchase
jjj asked, Hi, I recently visited Platinum city Flats,Near Yestwantpur, Bangalore.The price he is quoting for a 2 BHK flat of 1200 sq ft is 38 lks.Is the price and promoter ok.
Tushar answers, Price is on the higher side. Try to negotiate.
sansona asked, Tushar, In Pune Baner area rates are 3500. Is that good or should be less?
Tushar Bungley answers, The prices are in and around 3500 and its good for Baner area
pavvi asked, You did not answer my ques yet ! This is the nth time i am posting !!! I posted the following question: Hey Tussy! How're ya doin? Recently I bought a 3 BHK Flat (1600sft) in an area called Attapur (5 km from MehdiPatnam) in Hyderabad for 28L(1750 per sft). Is it a good deal? and how about the rates in Hyd in near future? Will they appreciate or will further come down?
Tushar answers, This is a good price for the area. It's tough to predict the short term future, though good improvement in proeprty prices are expected in Hyderabad in 3 - 5 years due to excellent infrastructure improvements which are being done throughout the city.
mamu asked, Dear Tushar, what is the best rate one can get in Malad, Mumbai west in the next 6 months?
Tushar Bungley answers, Mumbai and other metros shall see a further fall in prices by about 10%
anup asked, How much have the property prices in Pune corrected? How much are they expected to fall further?
Tushar answers, There hasn't been much correction in Pune, though around 3 - 5% correction is expected in the coming months.
asdasd asked, I have an offer of 2300/- pr sq ft in Pimpale Gurav, Pune from reputed Buider. Should I go ahead or wait for some time?
Tushar answers, Seems like a good deal.
jp asked, Hi Tushar Just Posting for one more time , in case my luck attract you Is Mantri Astra at Hennur Road bangalore priced at 2800 per square fit, including everything it will come 3450 per square fit(evryhting , amnitintes registation). Is it worht, or should I wait
Tushar Bungley answers, This is a good deal, but try to negotiate further taking into account the current market situation faced by the builders
Gayasuddin asked, How is Real Estate in Bangalore Is it right time to invest in Bangalore Then Which you Suggest
Tushar answers, Yes this is a good time to invest in Bangalore.
Haddock asked, What is the potential of investing in a flat in Kochi, Kerala?
Tushar Bungley answers, They are tier III cities and are good investment options
CHAITANYA asked, can I get a luxury 3BHK apartment with all amenities in Brookefields area of bangalore for 30lacs?
Tushar answers, You should be able to get it, around 1000 - 1100 sqft.
amithpallavoor asked, You asked, am looking at buying a flat in bangalore. Do you think it is a good time to do so? I have seen a flat for 23 lakhs. Do you think it is a good deal? This is my first flat for residence purposes. It corresponds to a rate of 1850 per square feet all inclusive (registration as well). My yearly income is around 9 Lakhs.
Tushar answers, This looks like a good option. You can consider this.
tapor asked, Would you consider Malleshwaram as a GOOD AREA to buy into in BANGALORE (investment cum stay). Any other such areas that you would consider? How about old Towns in Bangalore?
Tushar answers, Malleshwaram is a very good residential area. Other good residential areas in Bangalore are Indiranagar, Koramangala and Jaynagar.
x asked, Is this a right time to buy an apartment in hyderabad
Tushar Bungley answers, Right time to buy an aparment, Hyd has been drastic fall in prices
ragss asked, Hi tushar i am planning to buy a second house at Hiranandani estate thane.The rate are as follows 6000-7000 per sqfeet and Rs.60 per floor rise.Could please let me know any chances of rates to come down in comming months?
Tushar answers, This seems to be the prevailing rates here. Dont' expect prices to come down further.
Cyclone asked, I am interested to buy a Apartment in Kaggadasapura Near CV Raman Nagar-Bangalore? what is the current price for luxury/premium apartments?
Tushar answers, In this area, the current price is around 2800 - 3500 Rs/ sqft
kanti asked, Tushar, Is it worth to buy a 3 BHK flat in Pune now
Tushar Bungley answers, Pune is a good investment option, though prices have not gone down here, the developing aspects of the city makes it a good investment option
shanker asked, Hi Tushar, Nice to meet you on chat, i would like get your advice regarding i have booked a villa from builder in jaipur during november, 2007 and he suppose to give the possession by november, 2008 + 6 month (may, 2009) grace period if any circumtances, and according to agreemnt he has to provide lot of infrastructure like road, campus, security, water harvesting, grand, play area for kids, community hall, when i went there during last month april no infrastrcture developed so far and my house was just in skelton, now it's only one month, i am little confuse that what kind of finishing he can do in just one one and infrastructure, i have already paid him 90% of money. please suggest me what should i do , i have already sent him a legal notice to return back my money with interest but he denied to accept that. please suggest
Tushar answers, Let's talk about this in detail. Do contact our legal team on www.legal.100floors.com and we can take this further after we get to know more details.
akmallick3 asked, We are looking for a 3 BHK flat of 1580 sq ft. flat at nerul @ Rs.4750/- per sq.ft. THe project is not yet started. Is the rate Ok and wheteher we should go for it or wait . Is ther any chance to the fall in price? Please guide.
Tushar answers, The rate is fine, but might not be advisable to go for new projects given the current market conditions.
Pardeep asked, Before buying a Flat from society builder, what all things should be checked regarding buider and land.
Tushar Bungley answers, Get a title report or legal opinion of the project on which the apartment is being constructed. Title report gives you clarity on the history of the property. Apart from that commencement certificate, sanction plans, etc are some of the legal documents
sandyera asked, Hi I am planning to purchase a 2BHK flat in Western suburbs area in Oct'09. Kindly suggest as I should go for Under construction flat or resale flat?
Tushar answers, Resale or ready to move flats are a better option in this market.
subbu asked, I have been waiting for your answer....What is the current price per SQFT for new Apartments in old air port road (kodihalli),Bangalore with facilities like covered car park, Power Back-up, Lift, play area. But there is no Gym, Pool,Club house. The project is almost complete. This apartment is behind Leela Palace Hotel-old airport road (about 5 mts by walk) I am planning to buy an apartment in Kodihalli. Thats' why I need your inputs. Please please answer.
Tushar answers, Prices in this area could vary from 4000 - 6000 Rs/ sqft
vishalchy asked, Last Try: Hi.. i have booked an apartment at Navodaya, Gurgaon (Raheja devlopers). The builder promised Dec, 2010 possetion but not even foundation is done so far. Shall i keep paying to them or i should stop? Purchased that apartment at 1850/Sq. Ft 9Basic), can you tell me about future valuation of this property.
Tushar Bungley answers, As of now talk to the builder and stop paying the further instalments. Request him to show further progress before demanding any payments. Again depends on the terms and conditions between the builder and purchaser, try to protect your interests as per the agreements.
deven asked, could u please give ur valuable feedback on my question...is price of Rs.6525 including parking for flat in skyline oasis, vidyavihar, mumbai the right price? this will help me in finalising d deal!!
Tushar answers, This seems to be a good price - though you might want to negotiate a little more.
GP asked, Hi...When will u answer me?? I have posted so many times now!!! I am an NRI and want to invest in a house or flat with 2-3 bedrooms in Ahmedabad or Baroda. My budget is around 20-22 lacs. However, I am still waiting for prices to fall down further. Could you suggest the most appropriate time to make this investment i.e. when I get highest value for my money. Thank you in advance.
Tushar Bungley answers, This is the right time to invest in flats. Post general elections the prices may go up, and you may lose this golden opportunity.
somnath asked, Between Sarjapur in B'lore and Newtown in Kolkata, which is the better place to invest now
Tushar Bungley answers, Sarjapur in Bangalore is a good invest option and again depends on your preferences
Gayasuddin asked, Particular area can you Suggest In Bangalore
Tushar Bungley answers, Depends on type of property you intend to purchase, but generally speaking North Bangalore is a good investment option.
deeXML asked, Hi Tushar, what about VatikaNext in gurgaon and whats your opnion about Tulip orange in Gurgaon?
Tushar Bungley answers, Good projects can invest
CHAITANYA asked, Hi Tushar, can you please let me know in locations in bangalore I can get good rental value. My expectation is the rent should cover atleast half the EMI amount. I am ready to invest upto 35K as EMI and I should get about 18K rent. So please tell which areas are good for such investment
Tushar Bungley answers, Bangalore North and East are good investment options
Tushar says, That's all we have time for today. Thanks a lot for participating in this chat session. Do visit www.100floors.com for any of your real estate related needs. Thanks.