Properties in Gurgaon crash!!!

Gurgaon is experiencing a real depression in property prices. Till a few months back, the property dealers in Gurgaon did not have any time for chasing clients as the latter were flocking them in large numbers, wanting to buy a ‘piece’ of Gurgaon. Now the chase direction has changed!

My boss was telling me that he gets something like 10 calls every day from very persistent property dealers trying to convince him that investing at this juncture makes a lot of sense. I was reading somewhere that the sales of new flats has come to almost zero in the last few days!!! The city’s portal Gurgaon.com also had a news item today citing that some national association of real estate developers have decided to lower the prices of properties to be launched – unheard of untill some time back!!! Check this out http://www.gurgaon.com/content/?p=256

I wonder what will happen if this continues. Will the prices of existing properties go down too? They may have already gone down a lot. A simple case of demand and supply. When there are no buyers the prices will go down to attract the buyers, till such time as the price becomes low enough for them to start buying. The problem in Gurgaon’s real estate market is that the prices have risen so much over the last 4-5 years that that downward journey may be a very long one!!!

House hunting joke in Gurgaon

Now this is hilarious. I don’t know if this is true, but this story at http://www.gurgaon.com/content/?cat=740  makes worth reading.

I had a similar experience way back when I went to live in Mumbai. They asked me all sorts of questions before giving me their house – whether you are a veg/non veg, married/unmarried, do I go late to movies…blah blah…at the end of it I thought that the only thing they left out was my Janm Patri.

To hear that this sort of a thing happens in North India and in Gurgaon was a revelation… lol

Better roads and some all night eateries please

While travelling to office in or cab, we often feel like we are going for a cross country trek. I was reading this wish list of gurgaon-ites at http://www.gurgaon.com/content/?p=241 and I thought though it is spot on, I can add a few to it.

Since we are calling Gurgaon a millenium city, it is time that the city started having some qualiy all night eateries – as of now all that we have are some road side dhabas…