As in every field a Real Estate Broker tries to push up the place by telling all sorts of feebies and the customer who may not be familiar with the place fall pray to it. As regards its mad rush to 2nd and 3rd home, it is nothing but the greed of the people that land them in such scenario. For the last 10 to 15 years, people are investing only in real estate as it appears to be shining in income. But rather the greedy developers are looting the buyers in many ways. If one purchase 1000 sq,. ft. he gets only 550 to 600 sq. ft. in carpet the rest the builder amucks, illegally, as there is no regulation to control it. It is the most black money generating business, boosted by politicians. Already 2 lakhs houses remain as unsold stock and 5 lakhs houses remain locked in the Mumbai Metropolitan region thus totaling 7 lakhs units remain blocked. This altogether costs around 10 to 14 lakhs crores of rupees. Such blockage of fund is in turn blocking the economy of India. All over India around 100 lakhs crores remain blocked in real estate. Then how the economy of India will improve or move forward. Govt must start taxing such unused or locked units to discourage people not to block huge amount.
The property market is driven by the shylock greedy builders who have got this lamp of Aladin as result of corruption of UPA series and the frenzy of the buyers, not the ones who want it as their dream home but the ones who create a maize of EMIs and investment to satisfy their ambitions of high earning without putting in real efforts or over greed...it is high time that instead of putting their future in jeopardy as the EMIs would continue to take toll of both present and future as there remains nothing for savings...the people sud unite and alike the unholy builder's cartel they sud resist and decide the price. For this they have to first stop to buy anything from the builders and the greedy investors for at least 3 years and mind my words like gold , the bubble in the property market will also burst and these fat bellied builders and greedy investors will be forced to follow a genuine and secular trend and stop multiplying the prices according to their whims.
APPRECIATION IN PRICE IS IN RANGE OF 10 THOUSAND TO 1 LKAH TIMES IN LAST 30 YEARS ...AS ALL DEVELOPMENT FUNDS SIPHONED OFF AND INVESTED BY POLITICAL MAFIA IN REAL ESTATE LAND , SO WITHOUT ANY PROPER INFRA , PPL ARE PAYING 10 THOUSAND TIMES COMPARE TO LAST 30 YEARS .
Re: LAND COST IN MUMBAI AND AROUND
by Baingan Bharta on Oct 18, 2014 01:42 PM
ACER laptops are available at Rs.20,000 even today. And ACER, as a company, did not even exist in 1984.
You will keep paying EMIs, taxes and maintenance costs for the best years of your life (which is exactly like living like a tenant) and then hand over the fully paid for property to your ungrateful children after they put you in cheap nursing home or old age home!
Why Indian people k1ll themselves slowly to own immovable property when the cannot and don't really own it when it really matters, is truly baffling!
Stay on rent and invest your money elsewhere!
Philosophically speaking, we are all tenants on planet Earth who come to this planet without anything and have to leave without taking anything with us!
So why slowly k1ll ourselves collecting things that we have to eventually hand over to our ungrateful kids?!
Re: Buying
by virat v on Oct 19, 2014 06:20 PM
u r right but to some extent only. staying on rent lifelong is not possible n practical solution. u know the rise in rent to exorbitant level. how vl u pay it in future especially in old age? better to hv an owned home. if u dont want to gv it to u ungrateful children then gv it on charity.
in the very first point ... it's quiet ... not quite location ... been reading rediff columns for long ... read many "english" columns too making fun of indian english so you should "also be careful not having typos naa"? ... :) ... as for the column the pic of khosla ki ghosla says it all ...
Re: not quite like rediff ... typo
by venkat hs on Oct 17, 2014 11:53 AM
hey rediff ... you changed that to "quiet" ... good ... but acknowledge that you did after you have been told ... :) (i don't intend to make a issue, but typos put me off ... so be more attentive about them in future)
Re: Re: Story of Real estate agent
by Saurabh Sahai on Oct 18, 2014 08:22 PM
I am a propert dealer from Dwarka, New Delhi. What Prem Moras has said is absolutely 100% correct, that is our side of the story.
MR.RAKESH JUJUNWALA THE BIG BULL IN INDIAN STOCK MARKET HAS GOT ONE HOUSE IN WHICH HE STAYS ALL OTHER INVESTMENTS ARE IN STOCKS. SENSIBLE TO FOLLOW HIM
Buying of an abode is not a joke. Agents of builders maneuver you into booking a unit that gives them highest commission. He paints a rosy picture in praise of the builder, his honesty, handing of the possession in time, good construction, use of best materials, best of construction and design. You are so much encouraged that you book the unit on the spot. Start paying EMIs regularly. Then the builder becomes the King and you are entirely dependent on his mercy. As a first step all the communications as to the completion of the construction is suspended. You are in dark about it. You write mails but they are ignored. You pay hefty rent for your present flat and as well heavy EMI. The builder sits tight ignoring all your mails. The web site is not clear regarding the status of the construction. You are mentally tortured and lead a life in suspense about the hard earned savings invested in the hope of acquiring a roof on your head. You can just hope that the matter will be resolved amicably to your entire satisfaction
As far me and many my friends one agent in jayanagar 9th block helped me buy res houses at very resonable rates in 2006 now i am getting income from rents amounting lacs leave principle i have already recoverd the basic amount.thanks to him my cancerous parents recoverd and i am totally indebted to him
Real estate or builders are looking for scape-human to buy flat in Mumbai and else where the rate is injustice and giving option to pay 30% >40%> 50% and get the flat after 5 years or so. ofcourse the flat cost will increase to soe percent but how much comparing to the buying interest rate and other various costs so profit to buyer is "ZERO%" only builders is in profit. SO no investment plan cancelled.
