Low cost housing means it should be around 15-20% of total fortune. It should not take entire life to pay it. House is only for living. But this market is catering only to speculators, scamsters and frauds. Why people are paying such huge sum by taking loan? This market is totally unregulated and non-transparent. Govt is playing in the hands these few players. They will start taking action when we will loose all. why people are not realising that a house is only for living. why they are not noticing that RBI has cautioned all banks to beware of this segment. We are the people who are helping in creating this bubble. When it will burst then see the result. What portion of population has the capacity to pay 30-50 lac for housing loan and at what time we will become debtfree. Why our incapable govt is not realising that this sector is crating tremenduos speculation. One more thing, the Govt is also airing this speculation by pricing their houses in this range. They only want to reap the benefit only but does not want responsibility.
