RE:Property prices in pune
by a saravanan on May 22, 2007 08:15 PM
I understand your desparation. It has stop somewhere, there has to be some benchmark. Otherwise those who have money will keep buying/investing, what about the middleclass? How can someone afford a house for 30lacs. And the mortgage rate is 10%/11%. Ridiculous
RE:Property prices in pune
by Rishi Poddar on May 22, 2007 08:41 PM
I stay in Gurgaon and here nothing is less than 60 lakhs for a 3 bedroom. I can buy a decent 300 sq. yard house in Salt lake City, Utah, USA for that amount which has a garden and execellent living conditions. By the way, Americans earn 5-10 times as much as us! As far as middle class is concerned we Indians have been knocked out by our govt's ineptitude and the builder-politician-financier nexus! Long live India
Its good to see Bombay been compared to other big cities in the world, its a proud thing. But lets be honest and ask ourself is the property price in mumbai really worth the crores. I live in London the property prices for 3BHK house(semi detached bunglow) are 2-3 CR but good facility u get ur own parking place, small garden, and fresh air away from the city hustle bustle. In Mumbai, in Bandra or in Andheri u get a FLAT (there is no place for a bunglow) for round abt same price. The FACILITIES are ZERO, you wud get a congested parking have to fight with neighbours all the time, few artificial grass, and u go out of the building there are dugged roads, traffic, pollution etc. i am not demeaning Bombay by any sense i have lived here for 20 years and luv every part of it. But is it worth paying such a price?
RE:Property prices in Mumbai are Ludicrous
by a saravanan on May 22, 2007 07:59 PM
Agree with you, I live in belfast. I rent a 3bedroom house for £300pm. With the same amount i cant rent a house in so called posh places in mumbai with the same facilites. I have front/back garden with car park.
RE:Property prices in Mumbai are Ludicrous
by Tight Pascal on May 22, 2007 08:18 PM
You are right Arun.
It looks like equity fund managers are having a field day.
This is what happened 10 years ago. There was an artificial inflation of prices. Investors started buying real estate as an alternative to the stock market. It was all fine when the properties were under construction and "titles" changed hands. The bubble finally burst when, unlike the shares, the "latest owner" had to take physical possession of the property and it would show up on the tax records.
This may not happen now with the demand and a wider pool of investors (local and foreign) but it is always better to err on the side of caution.
The real question is: can the infrastructure catch up with this unbridled development?
You can build a castle but it is no fun if it taxes you to just get to it!
RE:Property prices in Mumbai are Ludicrous
by Qazi Hameed on May 22, 2007 08:39 PM
I have seen the list of the most expensive cities in terms of rent.And to my surprise i found Dubai on the 14th place.If u need a 3BKH flat here in Dubai it will cost u between 60,000 AED to 85,000 AED annualy which means 55,000 INR to 78,000 INR per month???? so now tell which is the most expensive city to live in??????
Congress-I and its associates always dream to make Mumbai as S'pore /Shanghai but ended up making it a slum,inspite of getting freedom 60 years ago.None of our politicians have vision.They have cockeyed visions.
RE:Mumbai, 7th most expensive city in the world
by a saravanan on May 22, 2007 07:49 PM
Thatz why you have election. You have to elect the right people, and everyone must vote for a change. Hardly 50% vote and the rest dont vote and keep complaining. Elect candidates who are educated, young and with vision.
First of all the titles of the house sites and Building Plan approvals should be legalised and made perfect and Transparent before one thinks of planning houses/apartments of international standards.while prices are zooming without standardised construction so also is the corruption in Planning and buiding approval arm of the government.How best one can remove crime,corruption and beaurocracy in Building industry?how best a buyer can make sure or verify that the property he buys is approved and legally perfect?The govt,builders and profesionals in Building industry should evolve a mecahanism for effective operation so that one can channelise funds for construction fro NRI's who also can benefit from asset appreciation and for the public to use by paying rents properly.
Shiv Sena when they changed the name to Mumbai promised to make it like Singapore.
When they could not even come close to the S of Singapore, they down graded the comparison (alphabetically speaking) to Shanghai, on whose lines the present Congi MCP government is working -- they say -- to develop the Indian financial hub, sorry rub for rubble.
RE:Slumbai
by ranjit k on May 22, 2007 08:09 PM
Unfortunatly Singapore/Shanghai do not have helful peoplefrom Bihar/UP todecorate the cities as we have them in mejority in Mumbai.
RE:Slumbai
by tytryt rytrytr on May 22, 2007 08:27 PM
this is really funnny!!!!!hahahha.... Let us send some of the so called people to US and London and hopefully we become the First among the list.
In 1960's, Singapore PM, by seeing Bombay, said, we will make Singapore like Bombay. Now can we compare Singapore Vs Mumbai. These bloody politisian spoiled this city. In 80's Govt said, we will make New Mumbai like London. Now every Congress leader have one house in London but Mumbai has become even worse. Now they are saying they will make Mumbai Shanghai, You see after 5-10 years, every congressi will have their house in Shangahi, and Mumbai will become even worse. May be like Somaliya/Sudan.
