*THE MOST NEGLECTED FACT OF THE ENTIRE DECADE!!!!* *Sachin Tendulkar’s mothers name is RAJNI Tendulkar…* *And his coach’s name is ramaKANT J* *Is there a need to say anything beyond this???*
Re: to reduce house price
by reader on May 10, 2011 05:18 PM
Ha Ha Ha. live on paradise. people need houses and properties in free. Work hard and build property that is the only mantra of growth. For better life and development price rise is needed. For houses govt. should declare minimum price like 3-4 crore and than give loan to everybody that is the only mantra for growth.The country where house prices are not increasing day to day like skyrocketing that country remain backward.
Re: to reduce house price
by Deepesh Deomurari on May 11, 2011 04:21 PM
Hurry! Very few left. Beware! If you start living then government will impose many taxes on you and many acts related to wasting natural resources/ Using government property without permission and many more. For rivers,gutter - Charges for making them dirty and many more.
EMI increase may be affordable but price inflation of houses? Can any middle class person think of buying a flat in pune/bangalore....50 lacs in minimun required to get a small 2 bhk flat.
Rate increases help curb inflation... RBI is not fool. Thank god you are not in RBi. But I suspect you are a bank or builder.
At the start my EMI was 13,700.00 and now it is 15300 with a due increase as per latest increase. I never factored this 2k to 2.5k rise within six months of purchase.
Every one is looting middle class like anything...
Re: is it right?
by santosh singh on May 10, 2011 04:47 PM
Yes, correct it is right, recently my friend bought a house in New Jersey which is at good location and for the same price the 3 bedroom flat available was in mayur vihar, east delhi and at 3rd floor with no lift no power backup.
I am one of the smartest guys on the planet. In 2004 I got a loan from ICICI with fixed ROI at 7.25% and it is till date fixed with no change in either EMI or no. of EMI installments. Many of my friends went with floating ROI as the rate of interest was 7% (0.25 less) and now they are struggling!!
Re: Re: Re: Fixed ROI
by Suresh Gopalakrishnan on May 15, 2011 04:04 PM
You beat me by 0.25%! I got it at 7.5% fixed in 2004 when others got it at 7% variable... Did you negotiate for that 0.25%? There is a clause which says that the rate can be revised but fortunately it has not been done so far!
Indian Banks are anti-social. They are giving only 20% loans to rural India where 80% BC/SC/ST/Minority communities are living/working.
We'll revoke the 1932 Round Table Conference Resolution to seek Homeland for Muslims/Christians/Anglo-Indians/Sikhs/SC/ST communities via a Bill in Indian Parliament.
When the RBI increases its rates, the banks increases the same. When the RBI decreases, the banks don't decrease. This is quite surprising. The banks have become greedy and are looting the people. The RBI should have strict guidelines for banks wherein their profit margin should be fixed at around 2%. Also, another thing that needs thinking is if I take a homeloan from a bank at say 9% and the loan amount is say 30 lacs. This 30 lacs is borrowed from rbi by the respective bank at around 6% say and given to me at 9%. Now, this amount is paid back by me as emi. The same money is paid back to rbi. Where there is a question of interest rates changing? For me they have given the amount by borrowing one time from rbi which stands at 6%. If rbi changes interest then it should not be affecting me because the bank is not agian borrowing money for me.
Re: surprising interest rates
by bhanumurty on May 10, 2011 02:11 PM
You should be a Mechanical/Civil Engineer to understand this: Say Tank1(RBI) is pumping Liquid(Money) into Tank2(Customer).Now Direct flow is not possible because of physical distance, and you need a PIPE(Bank) in between. Now Imagine a pipe without leakages and with leakages.If there are no leakages, whatever Tank1 delivers will reach tank2.Banks trill small taps to the pipe and siphon off a fixed quantity every month.If they are greedy, they can change the rate of flow and call it Floating'.The Physics will change from hereon.The normal case is that tank1 should fill tank2 and a pipe should act like a pipe.BUT NO!The pipe will sag over time and there will be inflow into the pipe from both the tanks.This will make Tank2 angry, as it's capacity is small.Since Tank1 is very LARGE, it doesn't bother about it's outflow.The pipe gets cruel sometimes and uses a PUMP to extract more liquid from Tank2.Since tank2 has no otherway, it continues to supply liquid to the pipe, which is a no bother for the Tank1.
Re: Re: surprising interest rates
by bigben bigben on May 10, 2011 02:33 PM
Both of you are talking gibberish.
Go and read some basic economics. Banks don't borrow all their money from RBI. They lend the money that is parked in their banks in the form of current and savings accounts (CASA) and fixed deposits.
Saving bank rate was hiked to 4% this time. So banks are facing higher borrowing costs. Similarly they might be forced to offer higher FD rates if more and more people are taking loans. In order to lend money they have to raise money in the form of CASA or FDs. And to attract more money they have to offer higher rates.
Ganesh Bhat is talking as though RBI is printing money and giving to banks however much they want.
People in India are so dumb, even educated ones. Please think or read before writing nonsense and misleading thousands of others.
Re: Re: Re: surprising interest rates
by bhanumurty on May 10, 2011 02:58 PM
Afterall, bigben bigben is from either SBI/ICICI/HDFC. The analogy is just for humor.Who bothered about how the banks do their business?EVERYONE WORKS FOR THEIR SURVIVAL SO ARE THE BANKS.Just because someone vents their anger, you cannot call it gibberish.
Re: Re: Re: Re: surprising interest rates
by bhanumurty on May 10, 2011 03:00 PM
Oh, by the way, it seems you are "intelligent" and "Educated" as well as "WellRead" and certainly not "Misleading". What an IDEA SIRJEE!
