In my last blog-posting, I had showed you clearly the dear discerning reader that the factually correct price of properties in NCR is quite low compared to that being shown to you wrongly by property dealers on websites and offline...!
There are several reasons for this culture of inflated rates...!
It is basically the greed of property dealers/agents...! This correspondent was recently told by a deep-throat in the property business that the property dealers/agents inflate the prices in an unethical effort to become super-rich overnight.
For example, this correspondent was told that an unscrupulous property dealer/agent makes a neat commission of nearly 5-10 lakh Rupees on each deal [2 BHK (1200-1400 square feet)/3BHK (1650 square feet) otherwise really worth Rupees 25-35 lakh] by making you buy these for highly inflated rates (2BHK - 40-55 LAKH, 3BHK- 50-85 LAKH ) for deals involving sale of Apartments in housing societies in NCR...!
The brokerage shown as 1% on websites is an eyewash. Such unscrupulous agents charge this 5-10 lakh from the reseller without the knowledge of the buyer in such inflated deal...! The reseller also keeps quite in view of the possibility of making extra money on the sale...!
How is this notorious game played? Lets say, a BHK dwelling unit (1650 square feet) is really worth Rupees 35 lakh only. The property agents create a false impression through websites, press and word of mouth that the going rate for such a unit is Rupees 60-75 lakh...! The resellers who are greedy for a BIF PROFIT OVERNIGHT, readily believe in and do not resell it at the REASONABLE rate of Rupees 35-40 lakh!
The real estate/property agent makes a cool commission of 25-50 lakh if she/he succeeds in brokering such 5 deals in a year. Of course, not all property agents succeed in doing so. And of course, not all resellers are able to sell their Apartments at these UNREASONABLY HIGHLY INFLATED PRICES. But, the word goes round in the market that the properties are hot.
Misled by one or few successful resellers, most resellers wait for buyers who would buy their Flats/Apartments at UNREASONABLY HIGHLY INFLATED PRICES and end up instead not being able to sell their Flats/Apartments for a long period of time because not all buyers are FOOLS!
In this game of unethical pricing, most resellers lose interest (which they would have otherwise earned on their resell value) by not reselling their dwelling units at reasonable rates...! The unscrupulous property dealer/agent loses nothing in this game...!
Thus, the unscrupulous property agents are the only BIG GAINERS in the above narrated unscrupulous game...!
Of course, most property agents/dealers when contacted, refused to accept the factual reality described above...! But, then the saying goes - there is no smoke without fire...!
So, dear resellers become wise and don't be misled by the property agents. Resell your Flat/Apartment at REASONABLE PRICE without being greedy if you really wish to resell your property and not lose interest rates that you would gain by such timely resell at REASONABLE RATES...!
Even the Haryana government Officials have admitted to the DEMAND for properties being very low and hence have decided to DECREASE the Circle rates in Gurugram (Gurgaon)...!
THE CURRENT FACTUAL REALITY IS: HUGE OVERSUPPLY OF DWELLING UNITS EXIST IN NCR AND THERE ARE NO SIGNIFICANT NUMBER OF BUYERS...! THIS SITUATION ISN'T LIKELY TO EASE BEFORE ANOTHER 2 YEARS...! SO, EITHER WAIT FOR 2-3 MORE YEARS TO RESELL YOUR FLAT/APARTMENT/PROPERTY OR ELSE RESELL IT PRESENTLY AT THE REASONABLE RATE THAT YOU MAY GET FROM THE CURRENT BUYER...!
WHO KNOWS YOU MAY NOT GET A BUYER FOR ANOTHER 2-4 YEARS IF YOU CHOOSE TO MISS OUT ON ANY REASONABLE DEAL THAT YOU MAY BE GETTING FROM A BUYER RIGHT NOW...! ANYWAY, THERE ARE NO BUYERS (SO TO SAY) AND ONLY SELLERS/RESELLERS ARE CROWDING THE CURRENT PROPERTY MARKET...! CHOICE IS YOURS, DEAR SELLER/RESELLER...!
- Special Property Correspondent
{ You are invited to share your comments here or you may contact us on ncrpropertiesinfo@gmail.com }
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