Property Decoder @PropertyDecoder

I don't know if Gurgaon or NCR developers will ever get humbled, but absolutely sure they'd never say something like this publicly, despite knowing the game.

Vishal Bhargava @VishalBhargava5

20 hours ago

Ashish Raheja had a great segment on this narrative that home prices have to rise as costs rise. Ashish is amongst the most intelligent developers of India. He referred to it as "fallacy" and concluded that the "Buyer doesn't care about my P/L. He can't afford, he won't buy."

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"Project book kara lo sir... ab toh RERA bhi hain..." RERA hain na?

Col Ajai Sharma, VSM (Retd), SIKH REGT @sherajai

22 hours ago

Attended RERA UP, in a case against a builder illegally demanding lakhs for flat transfer fees despite RERA’s stated cap of ₹29,500. Not a single argument heard by the so called Judge Sahab. Cases pushed into a procedural loop, while homebuyers suffer n builders benefit.

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@aakash_rewari Just to rank amongst the top 30 most transparent real estate markets in the world. Baki toh pata hi hain...

Oh common, you still think Gurgaon real state is competing with Mumbai? Haven't you seen the headlines... "Gurgaon has now surpassed Mumbai in selling most luxury housing units in India..." Mumbai might be competing with Gurgaon now, Gurgaon toh now targetting Monaco real estate next 😀

@yvarun779 @Caatishay Very true, don't know why many think that developers are working at very small margins. Have they forgotten how many have inflated prices by 10-20% every quarter as per their will in markets like NCR. Was the cost of input increasing by the same % every quarter?

Once, I met a very senior sales guy from a developer that was then considered one of the top developers in NCR. His analysis was almost exactly the same... "Input costs are rising, so we’ll keep passing them on to buyers through higher prices. Buyers will eventually have no choice but to buy at those prices and they will keep buying..." This was during the (last) 2010-2012 real estate cycle. We all know what happened afterwards... demand weakened, sales slowed, and the market eventually went through a prolonged price correction. The problem with this argument is that it assumes buyers will "magically" absorb every increase in the cost structure. But they don’t. At some point, affordability becomes the constraint. The number of willing buyers starts shrinking, the market gradually turns into a buyers' market, and builders and sellers begin to lose their pricing power. Yes, land can become more expensive, construction can become more expensive, financing can become more expensive, developers and lenders can demand higher returns. But they can only pass those costs on to buyers as long as they retain pricing power, something that usually happens during an upcycle. Once that pricing power starts weakening, rising costs don't automatically translate into higher selling prices. None of this guarantees that buyers will have the purchasing power or the willingness to pay whatever price the industry wants to charge. Costs can rise indefinitely on paper but buyers' ability to pay cannot. And when the two diverge far enough, the market eventually has to adjust. The mistake is assuming that because the cost of producing a house keeps rising, the buyer's ability to pay must rise with it. History has shown that it doesn't.

Dr Ritesh Malik @drriteshmalik

a day ago

The rich-poor divide in India is about to get extremely visible in one place: housing. In a few years, an average home in Gurgaon or Noida will cost ₹50,000–75,000 per sq ft of CARPET. Not because of demand alone. Here's the math nobody's doing. 🧵

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@metahacker_ True, but you know some people who are surrounded by continuous flow of enormous wealth and on't care what they are buying is worth it or not and thinks that whole world is like that, but is it like that?

Recently met another sales guy at a reasonably decent size NCR developer who kept saying the same thing... "prices will keep going up... if no one is willing to sell cheaper, buyers will have no choice but to buy at these prices..." So I asked him... out of all the employees working in this developer's office, how many do you think actually own a house in Gurgaon? Then probably for the first time sth real comes out of his mouth... "not many, sir... who can afford houses this expensive in Gurgaon?"😄

Thanks for sharing, they are saying stamp duty collections are getting lower due to change in "transaction mix". But still there is no proper segmented data to give clarity over this. This agency itself is giving very high variation in reporting registration share of % redevelopment, 10 to 20% in so lower % base signaling that it might be double also. So they themselves are not sure of it, creating doubts on this. Have done some preliminary search, % registration in redevelopment projects looks quite under-reported here.

@InspireeMilions One trend has also increased, many such companies have been selling their GCCs to these IT services companies lately to manage their operations. Why this is happening?

@drriteshmalik @72fbb58880f2418 Dr. as far as geographical maps of Bombay and NCR are concerned, there is a big difference between both the regions. How is land going to get scarce in NCR region, which can expand in all 4 directions, unlike Bombay?

@aakash_rewari Or if they don't deliver at all?

@aravind @Praveen09166903 Pehle ghar aaja pardesi...

Gone through some news around this but there seems to be irony in their tracking, despite analysing the data on real time basis, they are reporting variation of 10% points that too in 10 to 20%! Also despite reporting Sep 2026 property registrations at 14 yr high, stamp duty revenue is 5% lower YoY, somehow also points out to more registration of redevelopment projects, which are registered on very nominal fees, than last year. So will study on more on this.

@RahulChels Ye opinion Mumbai mein chalta hoga... here everything starts with bragging first, % se kya lena dena... ma project ma rules...😅

There was a time when Total Environment was being marketed as one of Bengaluru's top developers, and projects were sold on the strength of that reputation. Yet, somewhere along the way, it ended up at the bottom, breaking the myth that being considered among the top means you can't eventually fall. Yes, a project being delayed or stuck is a problem. But the biggest problem is delayed justice. And when justice can take years and even decades, that too despite having regulator and laws in place, what protection does a homebuyer really have? So until the system becomes capable of delivering timely accountability, why not stop allowing the sale of under-construction projects altogether? Maybe "completion before sales" should be the rule, not the exception. Because first ensure a "Total Environment of accountability, promised delivery and hassle free living" rather than letting builders create a "Total Environment of pending promises/distrust, years of waiting, and endless frustration!" And why not? You rarely see this kind of business model in other industries... taking lakhs and crores of rupees from customers upfront and then, despite having years to deliver, still failing to deliver what was promised. They have everything going for them... still own the same land, financial resources, political influence, and large legal teams capable of fighting every possible battle for years. And that's why have never understood why anyone sympathises with builders. Why? Because when things go wrong, it is usually the homebuyer who has the most to lose. Not just their most of their wealth, but often the most productive years of their lives... spent running from pillar to post, fighting a system that can take years to get their homes, which they have already paid for! So, builders can still move on and live comfortably, while keeping homebuyers stuck at their mercy for years!

Civic Opposition of India @CivicOp_india

a week ago

#TotalEnvironmentDisaster Was asked to post this because of the scale of scam that happens in the Indian real estate space. Selling my 3BHK ultra-luxury apartment approx 1950 sqft super built-up high-floor unit with livingdining kitchen 3 bedrooms with attached baths utility

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@realVatsalPatel @WhateverVishal Iska matlab woh zyada samajhdar hain...

@realVatsalPatel @WhateverVishal What are you still waiting for? missed the bus of great compounding returns already...

Project sold out declare karte karte ab builders Tower sold out par aa gaye hain! 😄 The moment top builder declares a project "sold out", others start trying to create their own sold-out headlines too. But perhaps, looking at the market, they are beginning to hesitate a little, while still not quite ready to let go of the "sold out" narrative. So don't be surprised if the next headline reads... "10 Floors Sold Out"! 😄 And now waiting to see what gets declared "sold out" next, until the entire "sold out" narrative itself is finally sold out.