Take any of the tier 1 cities. A 1000 sqft apartment in a decent building even in the suburbs would cost 35-45 lakhs. That would require a downpayment of 7 to 9 lakhs and an EMI of 30-40k. Even assuming parents could help with the downpayment, how many could afford to spend 30-40k monthly on EMI. And till the apartment or house is ready for occupation, both rent and EMI have to be paid. Even if a person earns 1 lakh per month gross salary, a huge portion of post tax salary would go on the payment of EMI, leaving very little savings. Quality of life would be very poor for such a person. And I'm not sure how many professions can youngsters earn 1 lakh per month. Maybe those with 9-10 years experience. Otherwise would need to be married and both husband and wife would need to work.
Re: do young indians have money to invest in property
by Suresh S on Nov 04, 2012 02:39 PM
Don't point out just the negatives..just invest in and you will reap the benefits in 5 years or so. I own 2 flats and pay up around 40K EMI a month with around a salary of 1.25 L. Gets 11K rent, saves 80K on Income Tax for interest and principle together. Adjusting to inflation its likely to fetch me 3 times of what I invested.
Re: Re: do young indians have money to invest in property
by sam on Nov 05, 2012 06:59 AM
Suresh your language tells that you baught flats when you were earning in USD. Robin is point out real facts for an Indian living in India. We NRI's have made the life miserable for resident Indians. I no many NRI friends who have 5 flats in India and every second year they go to India and in 15 days they buy house and come back. Good for them, but you will see what happened in US happening in India very soon. As the inventory of high priced house will eventually lead to un affordability of Locals and beleive me its the locals who live in those flats not the NRI's
I have 3 Houses in Ahmedabad Prime Locations. At present the prices of the three houses in total is One crore twenty lacs. What is the chance that my property value gets doubled in the next five years ?
Re: Ahmedabad Property Market
by Atul Singh on Nov 03, 2012 11:34 AM
If you help Modi get re-elected, your property value will not only double but go up by several multiples.
The value of your property is directly proportional to the value of the property of all the Gujarati people who have been pumping money earned in Mumbai into Gujarat!
Congratulations, you have made the most wise decision of your life by betting on Modi's Gujarat!
Re: Re: Re: Ahmedabad Property Market
by NIRMAL BALIA on Nov 04, 2012 09:43 PM
u r MAD and CONGRESSI it is CONGRESS which have all the BLACK MONEY INVESTED IN REALITY WHAT IS DLF
Re: Ahmedabad Property Market
by PERIASAMY RAMASAMY on Nov 04, 2012 10:16 PM
keep dream about price high.. you have invested in house.. so you want house price should go high... many people not able to bye.. they waiting for low price.. why u need more houses.. so invest in other area..
A few months back we were hunting for a flat in HSR layout, Bangalore for my cousin. About 4 brokers who had connections withing them, gave us free ride in their tata indica and showed us various flats. While looking at one such flat, I asked broker A for rent, who said 18000 1000 (maintanence). At the same time, my cousin had asked another broker B who was in the other room of the flat, for rent and he said 16000 750 (maintanence).
Welcome to India's more professional job - HOUSE BROKERAGE
Went to MCHI-CREDAI Property Exhibition 2012, MMRDA Grounds, Bandra Kurla Complex, Mumbai.........................................
The venue was full packed..... Lots of inquisitive eyes and Pavilion hoppers.... with a dream to 'Own House'...
I also enquired about some projects and found the rates "Jacked Up"..... How is this possible? Is this true? It is something not in tune with the sentiments prevailing in the country....
Also, Enquired at some stalls regarding the projects (of suburb areas....)
At many stalls, they talked whole things, about payment etc. etc.... but when cornered and asked about the registration of the 'shortlisted flats'... they just replied... some papers etc. required to be approved from the collector's office... How can such projects are allowed to market at the exhibition??????
I feel, if our is not a BANANA REPUBLIC and rules and guidelines are stringent, then after through legal scrutiny, the Builders should be allowed to participate in such exhibitions and mechanism must be in place to address the Grievance and solve the matter QUICKLY... alas! In India, it takes Years to wipe the tears of the investors..........
No one cares about the Indian Mangoes and they also themselves, don't mind.......
Re: Listen the woes of Mangoes
by anuradhakumari on Nov 03, 2012 09:27 AM
When the "Real Estate Dealings" will go online? Digital..... etc. Except this sector, all others sectors are getting updated............
There is lots of Black Money Component in this sector..... due to nexus thriving here???? How and when digitalization of all real estate transaction is planned?????? Mango Indians want to know
Re: India
by Ashwin on Nov 02, 2012 08:04 PM
Yes. You are very close to your dream idea/project. UPA Govt will certainly make flats available for the poor Indians for the same price you want. 2 Bed Room flat for 5 lak dollars & 3 BR Apt for 10 lak dollars, all over India, even in the smallest Village.
