Originally posted by Ravish Kumar Singh:
In Bangalore property rates are almost constant now from past 2-3 months but I have not seen them going down yet
Do you think it is the right time to buy house or just wait for another 2-3 months.
I think the rates ar coming down.I was interested 6 months back but rates were high.I get many calls now from builders about property,mainly apartments.Builder mafias are doing everything(sponsoring news) keep the rates up.Govt.too is helping them.
As this might endup in real estate scams by buiders and leading banks,Reserve Bank Of India has asked banks to increase the home loan rates.
Rates will come down atelast in already over populated and congested cities like Mumbai/Pune/Bangalore.I forsee this because:
1)Central Govt has already approved many land zones to convert open land to Special Economic Zones.(real estate might increase in those areas,but thats a different thing).
2)Big cities like Bangalore etc are already loosing gradually.Investment will increase in smaller cities.Hence real estate rates will go down.
3)See the ads in Times Of India/Hindu/Deccan Herald.The same ads are coming again and again,month after month.Like ads by big mafias:Mantr,Sobha,Purvankara.Another mediocre bulder DSMax,in many areas like Marathalli and BSK,he is not able to sell a single flat as construction is ordinary and floor plan is pathetic.I saw one,when you open bedroom window,you see adjacent building staricase,just 7 feet distance away.