IF you want to buy a flat in London it%u2019s only cost you Rs: 1.2 corer. And you get a house for rs 1.6 corer. You will get at list Rs: 70000 for rent and the rent can pay the monthly installment. And it%u2019s give 4 to 5% groth in the price. So why wasting 50 lakh in Bangalore. What rent you can get? 5k? The price is going to come down to half. So people wit for it.
RE:People paying 50 lakh for an apartment in Blr!!! For what?
by sach k on Dec 16, 2007 08:01 PM Permalink
dear gopalkumar, can you tell me which part of london offers houses for mere 2 cr. I will be happy to buy. Average cost of a 3 bed house in london zone 1-2 is atleast 4 cr.
RE:People paying 50 lakh for an apartment in Blr!!! For what?
by Girish Rao on Dec 13, 2007 08:20 PM Permalink
it is because of the big population of India 1.1 billion and house is a neccesity. Anything that is required by people will always be jacked up, for the situation to come to normal, we need 100 metro cities, not just 8
I just want to add one more point. 50% of house buyers in US & UK are outsiders foreign Investors. Inverters only invest in properties if country Economy is healthy else investor start to find new markets. Indian home buyers are 100% Indian citizen's and NRI's because foreigners can't buy house in India and at present Indian Economy is very healthy. there are very less chance for Indian property market crash.
Now we all know Indian IT companies have almost 70% or more business from US. Most of the IT revenues come from Financial servies and banking. With the US banks recording huge losses and US sub prime market hitting a crisis coupled with dipping dollar value will greatly impact Indian IT companies. HOw can IT firms pay the same salaries or give 30% to 50% hikes with the above mentioned crisis. Most real estate prices were driven by first time buyers (IT professionals). Others by politicians, beuracrats, corrupt govt officials. Working in the IT industry for 5 yrs i know the appraisal fears of the industry. If there are no buyers with the current interest rates the prices will deflty come down in 2008 and stabilize in 2009. Pass on the information and wait until 2009 if u r lookn to buy a house. Media is totally corrupt in India and i can pay money to publish an article in all magizines, portals including rediff. Dont go by what the so called experts in rediff have to say.
Please read with an unbiased opinion: IT hype and first time buyers (mostly IT pple) have hiked the real estate prices all over India. If you see cities such as Bangalore, Chennai, Hyderabad, Pune, Gurgoan, Noida, Mumbai, Cochin etc has seen a huge price rise. Now with the US dollar dipping the the profits of all IT/ITES companies will go down along with the current salaries of its employees. I am working in a top IT company and can deftly feel the appraisal fears in the industry. The year 2008 will see no appraisals or negative hike. Having bought a property myself i am worried abt paying EMI for the next 20 years. But unlike most IT profs i paid a reasonable price and my situation is managable compared to many collegues of mine who have infact booked 2 flats or more. I would advise pple reading this message to pass on the information to their friends. Real estate in IT cities will go further down in 2008 and stabilize in 2009. If u r looking to buy a house wait till 2009 and get a good bragain. Prices will then remain constant for another 5 years
RE:Thank God for this !
by Kishore Baishya on Dec 13, 2007 04:40 AM Permalink
im surprised at ur ignorance. u cant call non bangaloreans immigrants!u make it sound like its almost illegal dude!besides itwas golden oppurtuniyu for u to cash in coz u already have a base in bangalore and know it well, where as ur just maoaning and having a RANT!its YOUR local politicians who havent made most of the oppurtunity of being able to attract such a hugh talent pool at the same place!im kind of gratefull for this situation and glad it all happened to be honest! hype is good but too much of it is worse!
RE:Thank God for this !
by Pooja Kashkar on Dec 13, 2007 12:43 PM Permalink
O hypersensitive bangalorean, may god accept your wish and all IT companies migrate to other places. Henceforth you start with your agriculture and be happy......|). Dont think like a fool u insentive bangalorean. Please think of how to make a Bangalore a better place to live by reducing pollution, traffic etc.
RE:RE:Thank God for this !
by bangpatriot on Dec 14, 2007 02:58 AM Permalink
Please i want god to accept my wish. You speak like a perfect immigrant you inbred piece of misery !!
There are countless other industries/sectors that make money; have you heard of HAL, NAL, BHEM, BEML? How about ISRO? They all call bangalore home. Yes agriculture is integral as well, isn't all of India or are you one of those people who act like they have been drinking from Thames river from birth.
Get a life, no wait let us get a life and you get out of bangalore !!
RE:RE:RE:Thank God for this !
by Ghanta on Dec 14, 2007 12:47 PM Permalink
These countless industries do not employ bangloreans apart from admin work. And get a life, the entire Karnataka has nothing apart from this sidey town called Bangalore which is minting money coz of IT. And I am sure with oppurtunities elsewhere ppl will leave Bangalore. Remember outsiders are in Bangalore not because they want to stay here but because they have to stay here.
RE:Thank God for this !
by bangpatriot on Dec 15, 2007 12:21 AM Permalink
And Ghanta, how do you know that, are you looking at some friggin crystal ball? You point shows that you know Ghanta. And for the point that you make that ppl are here because they don't want to stay makes my point more valid that they are screwing up the city because they don't care.
RE:RE:Thank God for this !
by scooter man on Dec 13, 2007 10:04 PM Permalink
My dear poor Rajesh, get a life and dont talk like the rickshaw walas of bangalore !! get out of bangalore and see how far the world has gone and people like u only think like a rickshawala and can think like the irrational politicians of karanataka
RE:RE:RE:Thank God for this !
by bangpatriot on Dec 14, 2007 03:10 AM Permalink
Thanks but no thanks Scooter man. I have seen other cities and i bengaluru the best. Besides if you think other cities are good what the heck are you doing here?
RE:Thank God for this !
by GX on Dec 13, 2007 06:47 PM Permalink
IT started just 15yrs back...even then Bangalore was the 5th largest city. May be your hometown is still agricultural!!
RE:Thank God for this !
by Perfect stranger on Dec 13, 2007 06:59 PM Permalink
bangalore is another name for hell.. dont worry all will move out of bangalore soon and it wont get that publicity which it is getting right now.
RE:RE:Thank God for this !
by bangpatriot on Dec 14, 2007 03:02 AM Permalink
Oh who is Perfect Stranger? Is he Superman, no he is a plane, no he is friggin dog poop.
Get the heck out of here, you talk as though the life of bangalore depends on you.
RE:Thank God for this !
by scooter man on Dec 14, 2007 03:48 PM Permalink
Dont worry mr hypersensitive - nobody wants to be in Bangalore, a place so bad - it will be here and u could continue to be a rickshawala in Bangalore.. or cheat people like the rickshawalas.. or maybe irrational localites - or maybe the irrational politicans !!
RE:RE:Thank God for this !
by bangpatriot on Dec 15, 2007 12:23 AM Permalink
Scooter man. Looks like you have been sodomised by banglore's rikshwalas...ha ha ha.
Bangalore was and will always remain hyped- I m in bangalore right now- with an infrastructure so poor, bangalore is not worth paying even 1500/sqr feet.. no water, no electricity, pollution, stray dogs, horrible traffic, poor public transport, poor road, poor maintainece, rickshawalas&cab drivers-stay away from bangalore my advice-the tech companies r moving out.. if the above figures of falling rates is true-i m sure they r gonna fall even more..nobody gonna do good here
RE:Bangalore was always hyped
by scooter man on Dec 13, 2007 06:24 PM Permalink
For ur kindest information for all u imbicile people who have comments this way-i come from a city which is alot more intelligent than bangalore - Mumbai, dont worry i m heading back soon-good for Bangalore and maybe the rest of u continue to live a life as sad as ever
RE:Bangalore was always hyped
by bangpatriot on Dec 14, 2007 03:17 AM Permalink
Scooter man, please go back to your crowded trains, filthy slums and then you will wake up and see the light
RE:Bangalore was always hyped
by Ghanta on Dec 14, 2007 12:49 PM Permalink
I think it is better than going in a bangalore rickshaw or talking to a-hole kannadigas
RE:Bangalore was always hyped
by rexberry on Dec 15, 2007 03:42 PM Permalink
better than that shit kannadigas attitude... i have seen ppl spkin in buses tht they hate ppl comin from other parts of india... this wont happen in mumbai... and mumbaikar's zeal attitude everything is wayyy beyond bangaloreans....
The prices have never gone that high ever and the current prices are the actual prices that prevailed 6 months back....just because the peomoters are unable to sell there under construction pfojects this article has come out....just few days back the same was in a leading newspaper of Bangalore......dont fall prey....its going to fall further....hold on
