Real estate market is largely dependent on sentiment.
E.g. When Vilas rao deshmukh was minister, Latur city has seen a tremendous appreciation in land prices.
There's instances, when price of land doubled in one night on rumors that Vilasrao deshmukh is planning to open a factory there.
That factory never got opened.
After sad demise of Vilasrao,Latur has lost euphoria and prices have been down by big number.
Last report said there's more than 7000 empty flat in Latur that no one ready to take.
Same happened in navi mumbai when govt announced new airport project
But that was 7 years ago and it yet to receive any clearance.
God forbid, but if tomorrow government decide to shift it to some other locations then all those "smart" people who has bought land in "hope" of getting quick return are doomed
People,
Just look at Western market.
They have very well developed and regulated real estate market still every few year they have very big up and down in market.
Many real estate magent / tycoon have becomue bankrupt.
Eg. Donald Trump
It's just pure greed and lack of willingness to look further beyond traditional investment options ( land or gold), has led to poor financial conditions.
So I would suggest please think rationally before making any investment.
Another point I would make is when people talk about ROI in real estate against that of stock markets.
People invest hardly more than one lakh in one particular stock where in real estate they invest more than 50 lakh in one single property (flat / apartment)
How can you compare these two?
It's like comparing oranges with apple. ALBEIT APPLES R TOOO EXPENSIVE N LITTLE ROTTEN AS WELL.
E.g. When Vilas rao deshmukh was minister, Latur city has seen a tremendous appreciation in land prices.
There's instances, when price of land doubled in one night on rumors that Vilasrao deshmukh is planning to open a factory there.
That factory never got opened.
After sad demise of Vilasrao,Latur has lost euphoria and prices have been down by big number.
Last report said there's more than 7000 empty flat in Latur that no one ready to take.
Same happened in navi mumbai when govt announced new airport project
But that was 7 years ago and it yet to receive any clearance.
God forbid, but if tomorrow government decide to shift it to some other locations then all those "smart" people who has bought land in "hope" of getting quick return are doomed
People,
Just look at Western market.
They have very well developed and regulated real estate market still every few year they have very big up and down in market.
Many real estate magent / tycoon have becomue bankrupt.
Eg. Donald Trump
It's just pure greed and lack of willingness to look further beyond traditional investment options ( land or gold), has led to poor financial conditions.
So I would suggest please think rationally before making any investment.
Another point I would make is when people talk about ROI in real estate against that of stock markets.
People invest hardly more than one lakh in one particular stock where in real estate they invest more than 50 lakh in one single property (flat / apartment)
How can you compare these two?
It's like comparing oranges with apple. ALBEIT APPLES R TOOO EXPENSIVE N LITTLE ROTTEN AS WELL.
