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Chat Transcript

Ganesh Vasudevan

CEO , IndiaProperty.com

Property Guide

 

Questions Answered

Q

guest: What will be the impect on resale prices of flats in tier 2 cities?

Ganesh Vasudevan: Tier 2 cities resale prices are expected to see the maximum impact of the crackdown on black..depending on location and city one can expect a 20-30% drop depending on the current proportion of non-formal money
Q

guest: How is demonetization going to effect the property market?

Ganesh Vasudevan: Overall it is a very good strucutral reform for the economy in general and real estate in particular. there will be short term pain for some segments of the real estate market but the long term good is worth the short term pain. the segments likely to be affected are land and secondary market transactions. there is minimal impact expected on the primary market.
Q

guest: Is it good time to buy property

Ganesh Vasudevan: If you are buying for end use- the next 3-4 months is the best time to buy- you can get the best possible discounts from builders, interest rate on home loans is set to go down- hence you can aspire for a larger extent of financing your purchase, if you are open to resale property and are dependant on a loan for you purchase, you will have access to a lot of good bargains in the secondary market, which until lastweek required a signinficant portion of black
Q

guest: What would be the impact in short term for real estate sector? Why not people with black money exchange their cash as lands as people scrambled for exchanging it as gold ? I mean they could buy lands worth few lakhs Rupees. Regards

Ganesh Vasudevan: The short term impact will be on land and resale prices, which can expect to correct by 20-30 pc. land is not as liquid as gold is, and prices are already high.
Q

guest: any hope of property price appreciation by 2018 in ncr Delhi?

Ganesh Vasudevan: THe NCR market is likely to be hit the most particularly on secondary sales. One can expect improvement only after 18-24 months
Q

youyoutu: Will property prices dip in Mumbai?

Ganesh Vasudevan: Certainly resale property prices will be under pressure particulary in the MMR region. So will luxury properties.
Q

guest: I want to buy a flat in navi mumbai... what is the best time to buy

Ganesh Vasudevan: If it is for your own living, the best time to buy is now i have outlined reasons why in a previous answer
Q

great sunil: Want to buy 1 bhk in Mumbai n nearby areas for investment purpose under a budget of 40 lacs...pl advise which area,builder,n project name to buy for maximum appreciation in futuur...

Ganesh Vasudevan: Difficult to comment offhand on a recommended property. WOuld request you to call 022 33337777 or visit www.indiaproperty.com
Q

guest: Sir will the property rates get down If yes by how much and till when

Ganesh Vasudevan: Everyone is generalising that properyt prices will go down and that is not the case. The cash dependant markets like Land, and resale and geographies like NCR and tier 2 markets which have a high cash component in transcations will see a slowdown in transactions, and possibly a fall in prices. If you own a property, and want to sell it, you will not do so at a discount now, and would rather hold on to it right until the dust settles...hence the correction in prices if any will not be drastic..will be a slow movement with a quick pickup in transaction volumes once interest rates drop...from then on we can expect steady or increasing prices
Ganesh Vasudevan: This is also likely only in land and used property. the impact on new property over the long run will be positive as the industry gets more transparent, attracts better quality capital at better terms and with regulatry oversight like RERA, accountability will be high. Overall this is very good for the industry
Q

guest: Is this proper time to sell property

Ganesh Vasudevan: Unless you are in dire need to sell, dont do so
Q

guest: In which sector of stock market move rapidly

Ganesh Vasudevan: Am not an expert in stocks and am afraid cant help
Q

guest: wether the property rate down more than 10%

Ganesh Vasudevan: Depends on the location and property type. If it is land or resale in tier 2 cities like lucknow, bubaneswar, madurai, mangalore etc, expect a sharper drop
Q

devangdoshi: Do you think Cash Component will be zeroed down from Jan`2017 onwards?

Ganesh Vasudevan: Atleast for the time when cash is not available with buyer and use of cash is difficult for the seller
Q

nev38: Hello Sir, Is this a right time to invest in a 2bhk flat in Thane, Mumbai? Will i get a good rate considering the demonetization going on?

Ganesh Vasudevan: Yes this is the best time for you to negotiate price from a position of strentght...you will not only get the best possible disount but will also get a loan at lower rates
Q

guest: Bangalore property rates will come down?

Ganesh Vasudevan: Like in previous answers, the impact will be mainly on land and resale transactions...will have a downward pressure on primary as well but i dont expect more than a 10-15 % impact on primary that too it will last only over a short term. Given RERA, and the fact that builders are operating on thin margins (prices have not appreciated over last 2-3 years), builders will not be able to afford offering significant discounts on stock in the market.
Q

jainishshah10: when property prices will dip..

Ganesh Vasudevan: Any impact on prices will be gradual and over a 6 month period. dont expect to see drastic drops
Q

guest: I want to buy a flat in navi mumbai... what is the best time to buy

Ganesh Vasudevan: The next 2-3 months are the best to buy
Q

nev38: Sir, what you feel about Goa? Was thinking of investing in a property there as 2nd home.

Ganesh Vasudevan: Great place. wait for prices to cool before buying.
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