I had invested in a IT Business venture by buying IT space from CIDCO, CIDCO Cheated me by manipulating the area. For example A 1000 sq feet carpet area Module was sold as 2000 sq feet to me in 1998 and later the same space was sold as 1200 sq feet in 2004 to the mkt managers wife ,Chairmans son and and other employees/friends of CIDCO
Imagine area of offices shrinking by 50% just to benefit the employees of CIDCO
So be careful even govt firms cheat.In corrupt India even govt does not follow standard measurements.Everything is possible in India.
legal process to get justice is lengthy and time consuming. Se be very extra carefull when you invest in India
Re: Even Government firms cheat on Area
by Rajnish on May 12, 2011 12:37 PM
nobody cheats on areas. just because you are not bothered to understand the concepts before making investments does not mean that builders are cheating you. it is common knowledge that saleable area includes a loading factor. you can always ask for carpet area or built up area. and if they start ignoring the loading factor the price per square feet will increase in the same proportion. these prices are guided by market forces and you will still pay yhat amount. the article does not imply cheating anywhere it is just for informative purpose.
Re: RENTAL CHEAPER THAN BUYING
by Sowri Rajan on May 12, 2011 12:14 PM
Very true. I am also thinking on the same lines. There is no point in buying a house, paying taxes, maintenance and other charges. By the time you occupy, you get into lots of problems.
Re: RENTAL CHEAPER THAN BUYING
by Nirkos on May 12, 2011 12:15 PM
BIGGEST JOKE ... IN VILLAGE U WILL NOT FIND WHITE COLLAR JOB IN MNC WITH 5 FIGURE SALARY , VILLAGE ECONOMY RULED BY RICH FARMERS AND LOCAL POLITICIANS ... ONLY IF U HV STRONG AGRI BUSINESS , THEN ONLY U CAN SURVIVE IN INDIAN VILLAGE
Re: Re: RENTAL CHEAPER THAN BUYING
by Nirkos on May 12, 2011 12:18 PM
IT IS NOT VILLAGE ...2TIER CITY IS DESTINATION FOR COMMON MIDDLE CLASS PPL ...TO SUSTAIN AND SURVIVE
Re: Re: Re: Re: RENTAL CHEAPER THAN BUYING
by Nirkos on May 12, 2011 12:30 PM
it will not solve the purpose ... avg. life of midddle class humans living in indian cities is max 65 to 70 ... ur talking about last 5 years of life of middle class ...
Re: Re: RENTAL CHEAPER THAN BUYING
by shanti Patil on May 12, 2011 12:19 PM
Village people are not fools. The land prises have gone up in villages also. Many land mafia's have already reached villages and the land prises have gone up. If your ancestors land is there then don't sell it. you can use it for yourself and your next generation.
Re: Re: Re: RENTAL CHEAPER THAN BUYING
by Nirkos on May 12, 2011 12:23 PM
SHANTI PATIL .... LAND IS VERY SCARES COMMODITY DUE VERY HIGH LIABILITY POPULATION IN INDIA... MIDDLE CLASS OR LOWER MIDDLE CLASS PPL ..WILL NEVER SURVIVE IN VILLAGE ...DUE TO LACK OF JOB OPPORTUNITY AND LIFE STYLE AND SURROUNDING ... AS RIGHTLY SAID .... ALL LAND MAFIAS ARE POLITICIANS ..SO THEY ALREADY REACHED THERE ... THOSE WHO INVESTED EASY / FREE MONEY IN 1990 TO 2005 IN LAND IN INDIA ... DO NOT HAVE TO DO ANYTHING IN LIFE ..
There is a IS giving details of Floor area, carpet area, plinth arae etc ; definitions and calculations. I wish I could give the IS number straught away.
Re: Re: IN MUMBAI ....
by Nirkos on May 12, 2011 12:12 PM
MUMBAI IS LIVING HELL ... COMPLETELY RULED BY MAFIA ..BETTER TO STAY IN 2TIER CITY WITH PEACEFUL LIFE
Actually since there is no regulatory authority builders are having a field day and exploiting consumers. The need of the hour is a regulatory authority which needs to look into all aspects and formulate uniform guidelines whether it is for the area of area flat, sale price, monitoring and reporting of sales etc.
These days builders charge upto 90% loading as well. 50-60% loading is history. Thus flats are becoming more and more expensive due to absurd calculations.
