A common man will never be able to have his own house the way things are moving in real estate. Take e.g If a flat cost is Rs. 60 Lacs & if a person has to shell out 85% he will end up taking almost 50 lacs as loan. Now let us findout out how many people will be able to shell out 50 thousand as interest every month from their income after meeting their requirements. Even after considering the benefits of income whether the real estate value will increase at the cost of interest. This is absolutely unreal estate business in India for a common man.
RE:UN-REAL ESTATE
by Chihahua on Nov 28, 2007 04:18 PM Permalink
Atually these are sharks. Peopl take home loans just bcos they have to pay high rent. Landlords ,construction companies ,mafias all fuel up the rates high. These rougues shud be hanged.
RE:UN-REAL ESTATE
by Pramod Ramachandran on Nov 28, 2007 04:03 PM Permalink
You said it Syed. I tried to own a house or flat in Bangalore since I am working here. The price is sky high - near 40 lakh for a flat and 60 for a decent house. Now I dropped the idea and plan to settle back in my home town in Kerala.
