Now a days all newspapers are full of recovery in real estate prices and bottoming out. But this seem to method in this chorus as everybody is singing same song. All developers are launching page full of ads for new projects.
Some serious questioning-
1. What has happened to all the fancy projects launched in last 3 years? Is any of these near delivery?
2. If these realtors( including top5) have no money to complete projects launched three years back and are in near default to banks saved only by RBI's generosity in allowing debt restructuring to save banks, where is all the money gone?
3. No award for guess where money raised for new projects will go? to repay debt of banks and mutual funds who restructured their debt in Feb/March.
4. So how they will complete existing and new schemes?
5. DLF is coming with second phase of DLF Green in Delhi. Have they even put a stone in last six months in phase one, they so proudly declared to be sold out?
6. Affordable pricing ?? BIG nonsense. All projects located in god-forsaken locations where even ghosts will be scared to stay.
7. 30 mins from CP 10 mins from Delhi border. NOT by ROAD certainly? What about 1 hour traffic jam for free in between
7. How it happens that every project is just few kilometers from some dream Metro or Expressway? Somehow these developers have dreamed of 101 metros and expressways note seen by Government Planners
8. All ads advise you to buy or never? Interest rates rising soon. Prices will go up soon. If paper advice is not enough, there are international consultants thrown in- Like John Le Salle something kind all bunch of high sounding all knowing experts. Every body has got stake in this artificial boom. How you consultants earn bonus if no boom? How you private equity players get millions to invest if no boom? How you will repay debt to avoid bankruptcy if prices do not recover ? How all these banks and mutual funds avoid NPA if no boom? How you newspaperwallahas earn for page full of ads if no boom? And what will happen to job of those special realty correspondents these business papers hired in boom time?
DEAR Friends - WELCOME TO GREAT INDIAN ROPE SHOW.
QuiZ to end-
Harshad Mehta
CR Bhainsali
Ketan Parikh
...........................??
