Refer few days back artical in times stating that in USA the house rates are dowm from 160000 to 80 to 85000 USD. If rough terms in Rupee terms around 40 Lakhs. Is our infrastructure up to USA mark for demanding this much or greater money. It is open that developers are looting us point blank.
An ordinary three room affair in Mumbai or Navi Mumbai measuring between 550 to 600 sq ft. costs upwards of Rs 50 lacs due to Spec. actions of Property Developers and Investors. Their wrong actions have a boomranging effect on their faces and the turmoil due to repaym ent crisis would continue till the Property Prices plummet down to realistic levels.
certainly mean a very long night of winter (tumbling prices) for the real estate sector in India !
Already, tens of thousands of flats and villas are lying unsold or unoccupied in many Indian cities. And a good proportion of them have been lying unsold for several years now !
With the recent series of hikes in the prime lending rate announced by the RBI, the increasingly desperate builders, who have been becoming shriller and shriller with their advts., are all set to face a very severe liquidity crunch !
It's Sad when A common man can not buy a house. I left India to make money, So I can buy a flat. In Mumbai My life was horrible , Only Problem-Problem-Problem Guys Do you know what American India Fell when they arrive Mumbai Airport - "Nark ki Nagri mein aap ka Hardik Swagat Hai " I feel In our country their is no Human Values. Politically very bed country. We founnd truth of my country.India is not Great country at all . Have only Potential to become Great. Dialoge from Movie Swadesh By S.khan
Re: Are we Idiot
by Dinesh RSingh on Jul 08, 2011 10:47 AM
Yes you people need all ready made... you people are not ready to do anything for the country but cry and cry about the bad things that are happening. Also, the US or other developed country that you are talking about, were not born developed...Their PEOPLE made it so by their keen interest in day to day participation in civic matters. And not like you peoploe, who run away on finding and excuse just to make money. PERSONALLY PEOPLE LIKE YOU ARE BETTER OFF IN SOME OTHER COUNTRY...YOU PEOPLE ARE DISGUSTING...LOOSERS
Re: Are we Idiot
by RathaChamundeeswari Angalamman on Feb 08, 2011 06:09 AM
I wont attempt to negate your views. Corruption is too much. Bound to shock any sane individual returning to India. But then you would realize, life is more than corruption and that is what will dictate the choice of many (including me) to come back after couple of decades in US/UK.
Re: Are we Idiot
by HARESH PARMAR on Feb 13, 2011 09:57 AM
Most of us have been to developed country(including myself) and I certainly agree with Ratha that after a while you feel that India is still a better place to live in...Corrupt politicians, Lawyers, Judges, Police and you can add each and every dept run by the government is what is holding India from becoming a much better place.
Now it is time for a revolution like what is done in Tunesia and Egypt. The corrupt ppl will required to be shown door. Then only the RE prices and most importantly commodity prices will come down.
Re: Now it is time
by jay b on Feb 08, 2011 08:28 AM
The so called revolution in Egypt is the handiwork of bigger powers to destablise the middle east further for strategic reasons,..... .
Revolution is a big word not be trivialised which is common nowadays.
If we need to bring one we need to be accountable individually and this will take years to do not months or days.
If there is halt in buying the RE for atleast 3 months starting from now. The prices will come down to more realistic level. The realistic level is as follows:
The mango man, the Indian fool (I am also guilty of being one): One who ruins his childhood mugging crap, wastes his youth working 60 hrs a week, and if lucky to be in Mumbai / Bambai / Bombay, also travels for 18 hrs / week, and then puts all his miserable savings into the downpayment of a pigeon hole, priced at atleast 5 times his annual salary, if in a village or 10 times if in a metro.
Today mango man has access to instant news, of stock market behaviour, corruption & scams, lower sales = higher inventory of flats. Power is shifting from the real estate mafia / broker to the mango man, because today information is easily accessible.
It is our job to now boycott real estate purchases for at least one year and let these builders reduce prices by around 70% in Mumbai and by around say 40 - 50% in other cities.
Re: Mango Man, you are enjoying powershift
by RathaChamundeeswari Angalamman on Feb 08, 2011 06:15 AM
Govt is also a Mango govt. While education loan charged at 13 percent, home loans start from 8 percent and you get tax benefit also?
Re: Mango Man, you are enjoying powershift
by ad force on Feb 07, 2011 01:18 PM
One has two choices. Buy or take for rent. One of them will be cheaper. it is best to take rent and wait for the prices to come down.
Re: Re: Mango Man, you are enjoying powershift
by Argumentative Indian on Feb 07, 2011 01:20 PM
I chose to stay on rent for 10 years now, still continuing on rent.
Re: Re: Mango Man, you are enjoying powershift
by An Indian on Feb 07, 2011 01:24 PM
No, there are other very good option is also there, what wise people are doing i.e. take propfessional service, only supervise yourself, and get the best at cheaper rate. Consuctruction cost is Rs. 600 - 800 per sq. ft. (without land)
Re: Re: Re: Mango Man, you are enjoying powershift
by Argumentative Indian on Feb 07, 2011 01:57 PM
How can anyone construct a house without land? Where can a common person purchase land? Is it practical to form a cooperative society of > 100 people, while working in one of India's leading sweat shops (which is just any other private sector company) for 60 - 70 hrs / week?
Realistically, we can get about 4 - 5 people together to buy a plot of land? Is any such plot of land available around Mumbai? Say 50Km from Dadar ? 70 KM from Dadar? Same case with any other Indian city. I have recently purchased a small piece of land, it is 80 KM from where I stay, which itself is 15 km away from the heart of the city!!!! Can anyone travel 100 Km one way in India and have any life? I may use the land to build a house to stay in after my retirement, but on duty, I'll end up staying on rent.
