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Bhagwan
realty
by Bhagwan on Jan 03, 2015 03:44 PM

Simple calculation for the greedy realty blood hounds, U pple hiked the prices by 100-300 percent. A 3BHK flat now costs at least 60-80 lakhs, that means if we take a loan of 40- 50 lakhs, the EMI will be around 1000 to 1300rs. per lac depending upon loan tenure i.e. around 40 to 52 thousand per month. This requires a salary of atleast rs 100000 plus per month. Despite this for future security there will be no money left except the house which will be mortgaged for at least 10-30 years. By no standards a salary of 1 lakh plus is common in INdia. Let the FM reduce the rates by forcing RBI still the EMI reduction will have a very minimal effect. Need of hour is not a correction in EMI but a tight slap across the faces of these over greedy realty pple so that their misconception of unlimited elasticity of the pple of India will get removed, and they be forced to make a correction in the prices so that the sector gets fresh life.

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