Speculation will continue unabated as long as demand lags supply, and in this case, so drastically. Only when availability of housing becomes abaundant, easily accessible and affordable by the masses, will there be any easing in such real estate speculation.
This is not the boom. Some vested interests trying to make it appear like a boom. Look at Hyderabad. A year ago, an acre was sold for 10 lacs, now it is 10 crores. A bunch of politicians, SW people aer creating this artifical boom. Poloticians friends who are Software rascals took lands at Rs25000/- per acre. Now The same people are selling it at Rs5-Rs15 crores per acre. Never before in teh history of civilization such a so-called boom was seen. In a real estate classfieds of local website, there are 586 sellers while there are only 36 buyers. Yet it is appearing that there is great boom. IT and ITES industries have made life of the ordinary people a miserable lot. I'm praying to God to see the Infosys, wipros, satyams, raheja's go down so miserably they will close there shops for eternity.
Respected Sir,No doubt India has strong fundemental in economics past few years after fifty years.This has created some two million "Jamindars" or "HNWF" like good old fifteen to ninetten century days of our Hindu culture and traditions .Our economic experts say that we have 30 million still under BPL .If we take into a/c on-slaught of our accurate inflation rate past twenty years ,another 35 million will be just above poverty line .For all these people buying a flat in any one of the metros or second rung cities is a distant Dream .Only they can acheive it after several "Janmas" to reach this dream after several times waking up . No where in the world that this craze of artificial increase 50 to 70 % increase in one year in realtiy sector .It drives a Cold Chill even among the socalled blue eyed boys and girls of software indutries .As a peer pressure ,if they buy a flat for 30 to 40 laks by taking loans , they will continue to suffer in silence since their take home pay after paying EMI will be a paltry sum and it is hardly enough to meet always raising essential commodties . Realty sector is exactly playing like our sensex . It is highly irrational. K.s.sundararaman
