Location: God's own country
Posted on: 18-04-06 17:25:08
Ramarao,
Most of the problems that you had mentioned existed in India since time immemorial, But even with those problems prices have always gone up. I canot speak for Pune but can speak for B'lore and the whole of TN. Real estate prices are going up and will go up. There will be no bust in the near future. You still can purchase a property now and sell it for a profit even 10 years down the line (esp. In b'lore and chennai).
As of yesterday, even students from private engineering colleges once they finish IT degrees get 20,000+ per month. These guys will not spend more than 5,000 a month. My mother said that when i finished architecture at a reputed engineering college i got rs. 2000 as first salary and my brother (grad. from reputed govt. engg. college) got rs. 3500 as salary in IT in 1994. so now the dynamics has changed for the better. With all the attractive mortgage prices most of them will end up buying a house.
TK
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TK,
It is a good sign.As I said I may be wrong as I have not visited India from last 5 years.
Ram
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Desi Lion
ramrao,
Don't get me wrong. Yours is armchair philosophy. U have no clue abt the ground reality back home since u haven't been to India in the last 5 yrs. Things have changed, dude. Even an autorickshaw driver has a mobile. So, go figure.
TK,
What u said is right. But I have to differ on the spending issue. At least in B'lore the IT freshers spend big time. What they spend on is a different issue. But they do spend. Banks have tons of money and r ready to give out loans at a good rate.
I will put my money on RE anytime.
Happy RE investing.
DIO
Quote:
Originally posted by desi in ottawa
ramrao,
Don't get me wrong. Yours is armchair philosophy. U have no clue abt the ground reality back home since u haven't been to India in the last 5 yrs. Things have changed, dude. Even an autorickshaw driver has a mobile. So, go figure.
That is because the Mobile prices in India have significantly come down, not gone up (as in real estate). It has nothing to do with the autorickshaw driver's earning potential or ability to buy a home.
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DesiTiger and desi in ottawa,
I agree with you about change but how do you justify problems like power outages,water shortage problem,drainage problem,local transportation problem,roads,sanitation,problem in getting land telephone line.
I do watch office office TV program here in USA and I see myself as Mussadi(always a victim of our public or private office/business).
Autowala may own a mobile phone there but no shower or proper bathroom for him.
I don't think mobile phone, Internet connection at Internet cafe are indication of development.
This actually not related with Real estate but I am replying as you guys pointed out Autowala owning mobile phones.
Once I mentioned to my friend in India about returning home then he suggested me return after 5-6 years and pointed out that all recent developments are not that great and you have to be very rich to enjoy good lifestyle.
Ram
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Desi Lion
ramrao,
I was referring to the mobile in the context of development in India, nothing related to RE.
Landline can be obtained within few hours, mobile within an hour.
Every country has it own problems including Canada or USA. We should not compare two countries.
DIO
Quote:
Originally posted by ramrao
DesiTiger and desi in ottawa,
I agree with you about change but how do you justify problems like power outages,water shortage problem,drainage problem,local transportation problem,roads,sanitation,problem in getting land telephone line.
I do watch office office TV program here in USA and I see myself as Mussadi(always a victim of our public or private office/business).
Autowala may own a mobile phone there but no shower or proper bathroom for him.
I don't think mobile phone, Internet connection at Internet cafe are indication of development.
This actually not related with Real estate but I am replying as you guys pointed out Autowala owning mobile phones.
Once I mentioned to my friend in India about returning home then he suggested me return after 5-6 years and pointed out that all recent developments are not that great and you have to be very rich to enjoy good lifestyle.
Ram
I didn't mean anything different in my post
The things you mentioned are among the many reasons I could never settle in India again.Like to visit as often as I can though
Cheers
DT
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