In North Bangalore there is no drinking water, at least in other parts of bangalore they get Cauvery water. In North Bangalore Drinking water is not potable and cauvery is there till Hebbal & Ganganagar. Its high time to not to touch Bangalore property as US market is slow-down, many companies are recruting in 2 to 5 years of work experience people. More than 7 years work experience have a threat to their jobs.
RE:No Potable Water in Bangalore after few years,
by samudra blr on Dec 12, 2007 09:34 AM Permalink
Absolutely true. No water in Yelahanka,Devanahalli areas. The borewells dont yield water in north Bangalore.People are blindly investing in land hoping of international airport.The passenger who lands at devanahalli airport takes the super fast train at the airport and comes to the city. Even London hearthrow airport and Mumbai airport dont have much development around them. People who got absolute waste land in Bangalore North will face the music in the future.
RE:Prices In Bangalore
by gopinath p on Dec 12, 2007 10:41 AM Permalink
I guess sekar ranganathan is a close associate of Real Estate agnets :). Being a Bangalorean I would suggest people not to invest at this time, wait for another 2yrs the prices will come down.
RE:RE:Prices In Bangalore
by Aravind S on Dec 12, 2007 09:31 AM Permalink
where are you working dude? Take loan for 40 lakhs and start paying EMI then you will come to know.
The prices were sky-high because ppl started seeing this as an investment opportunity and the ppl who really needed a house could not afford. Even if ppl didnt have the capacity to buy a single house the booked 2-3 apartments by paying the booking amount and taking the rest on loan. They thought that they will sell it off after 6/12 months with some handsome profit, but it started to hit where it hurts more when they could not afford the EMI and could nto find any buyer ready to buy their second hand flats especially when builders are ready to give new flats for that price. Taking the advantage of the realty boom even a pan-wallah became a broker/real-estate agent and even ppl who cant meet their ends before the boom started building apartments by demolishing their jhopad-pattis. Banks also pumped in huge money into the market in terms of housing loans by finding easy scape goats in the the form of an IT-Guy, who never knows if his job is there tomorrow or not, but readily takes a loan of 50 Lakhs. Builders and Banks are the real gainers. Poor IT-PPl are made the fools to buy the property with unrealistinc prices. So sad. Its high time Some relating law is passed and ppl also should be more careful.
RE:Analysis
by Harish Srivastava on Dec 12, 2007 09:55 AM Permalink
I am looking for those guys who has already booked the flat earlier and now want to sell it off. Hopefully this time they might be giving 40-50% discount.
RE:Analysis
by gopinath p on Dec 12, 2007 10:43 AM Permalink
Hey Harish even if you buy at a discount of 40 - 50% the seller still makes profile. Do even think of buying at this time.
This would have happened much earlier.As we can see from the above article the economy based on the IT industry has no firm ground.It all depends on the economy of US & other foreign countries.
These people are doing indirect marketing by giving false statements that prices are going down. Still the prices are at sky-high but not many people are there to buy. IT people are simply increasing the real-estate prices without realising whether their jobs will be there for 20 years to finish 70lakhs-1crore load or not. Think twice people as it is your hard-earned money.
RE:Indirect marketing
by Naveen Bhutani on Dec 13, 2007 06:27 PM Permalink
This is very true - not just of Bangalore but in other parts of the country as well which has a large number of IT / ITES and BPO population.
RE:all fake
by Ritesh Chakravarty on Dec 12, 2007 09:21 AM Permalink
You are right Krishna. Its a lure to IT people to buy house only. My advice to all IT people is to invest money in Mutual Fund rather than buying a flat in Bangalore. This will give better results in long run. As most of IT people working in Bangalore are not from Bangalore, hence, they should rather buy flats or homes in their native places .. tire-2, tire 3 cities where property value will definitely grow.
RE:all fake
by gopinath p on Dec 12, 2007 10:48 AM Permalink
I agree with you Ritesh. Nobody knows if IT companies survives for 20yrs, coz we see now china and Philippines are also competing with India, in future we can most of the ITES companies will move to these countries. It's better to invest in Mutual Funds, ELSS and FD, this would be bread winner for our old age.
