Thursday, December 28, 2006

Delhi To Grow Upwards, Skycrapers coming to town!

I had recently posted that the only way the Real Estate Market in India will rationalize is by letting it grow upwards. Not to restrict on the number of Floors that can be built, if technically viable. Economically it is much more viable. Seems like the developers knew it all along.. Time to buy Ansal Housing Stocks huh!! [The stock had been hitting the upper circuit the past few days after some Analyst lady came on CNBC and explained that it was trading way behind its peers.. Man, we can be such herds!!! ] {By the way, they signed some agreements with the UP Govt *wink*}

The city skyline could change dramatically, with Centre planning to allow re-development of certain areas by allowing up to eight-storey apartments and permitting construction between 20 and 60 floors at locations earmarked for new development.[source]

And once the master plan comes public, the prices of houses might come down, and if lucky, like nine pins. I'd wait for a little longer now.. The cost you are paying is now for a house is not for the construction cost, but for the number units per hundred crores paid for that land. With 60 storey house, the number of Units will multiply, like bunny rabbits?, and well the prices might just rationalise.

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