Comments on: When the downturn hits you

By: Vivek Patwardhan

Vivek Patwardhan — Tue, 30 Dec 2008 22:48:27 +0000

Dear harekrishnaji, aditya, partha, braja and femine susan,

Thanks for your comments and encouraging remarks,
Vivek

By: Femin Susan

Femin Susan — Tue, 30 Dec 2008 15:44:27 +0000

Hi……
Your blog is really interesting… Keep posting…. Wishing you ” A Happy New Year”

By: Braja

Braja — Tue, 30 Dec 2008 08:05:04 +0000

I found you thru Kavi’s site…nice to meet you 🙂 I liked this post because it was realistic: these things effect everyone differently. From the big guy to the local farmer to everyone in between….it was a refreshing read, your honest and straightforward experience…

By: Partha

Partha — Mon, 29 Dec 2008 05:37:37 +0000

Sir,

A friend of mine had, 1 year back booked a flat in a prestigious complex just opposite ours. The price quoted to him was an 8 digit one. His idea of interiors was such that the price would have exactly doubled. I met him recently and enquired if he had shifted was quite surprised to learn that he had purchased a flat in our complex. And a flat in our complex as compared to the one he had proposed to purchase would be similar to the mill worker's block in the middle of the sky scrapers in Parel!! Inflation works to deflate our dreams.

I endorse your decision.

Warm Regards

Partha

By: Aditya

Aditya — Sun, 28 Dec 2008 19:34:10 +0000

In all I think your decision was absolutely correct!! I once put a stop payment on a confusing insurance mutual fund combo mixproject hard sold to me, and I dont regret it at all 🙂

By: Aditya

Aditya — Sun, 28 Dec 2008 19:31:45 +0000

I was speaking to a retired civit servant who has interests in real estate now alongwith a builder of great repute and I recall him mentioning that the manner in which land bank valuations were allowed for real estate companies to list in the stock exchange are a thing of the past, as two weeks ago ( now three ) an amendment in the rule book has ensured soaring real estate company valuations become a thing of the past and with it the prices of flats. Am yet to confirm the veracity of this loaded comment but it came from a a very senior retired bureacrat and I see little reason for it being false.
Aditya

By: HAREKRISHNAJI

HAREKRISHNAJI — Sun, 28 Dec 2008 04:27:28 +0000

Good that you have received your money back.

I have also canceled my booking , I was to buy flat for my son.

By: Vivek Patwardhan

Vivek Patwardhan — Sat, 27 Dec 2008 10:00:19 +0000

Thanks Comic project, Ugich Konitari, Sucharita, Kavi, Iyer, and Ganesh.

Hope to get one apartment soon, thanks for your good wishes,
Vivek

By: Ganesh

Ganesh — Sat, 27 Dec 2008 05:27:13 +0000

Dear Sir,

Like Ugich Konitari says, Whatever happens, happens for the best. Probably you got saved so that 6 months down the line you can buy your house cheaper. For more than 5-6 years Mumbai real estate prices have been on the rise. I feel the time for the downturn has come and it will be so for the next 1-2 years at least.

By: Sucharita Sarkar

Sucharita Sarkar — Fri, 26 Dec 2008 22:03:07 +0000

Some of my friends who are commerce/economics teachers are saying that there will definitely be a real estate crash here in Mumbai as well (like in the US), so they are advising all of us to sit tight and purchase only after a year or two, when prices fall. I’m sure you have your own set of advisers. Hope your problem gets sorted out soon.