Real estate prices to go up
There is something happening in Mumbai which will mean the real estate prices will go up. From the current numbers to the stratosphere…even before you click on the link given below.
My friend used to give me an example saying…’My neighbor sold his 1 BHK for Rs. 155 lakhs, but I will get Rs. 210 lakhs – because I have spent Rs. 22 lakhs on the interiors’.
Or ‘I have orange windows and he had green window’ or me telling people ‘there is a Jain temple near my house, so the price value is protected’ .
but you should read the link given here..it is well written, but the copy editor was sleeping..and has let in a couple of mistakes creep in….but the article is brilliantly written
read this also….this is a sensible story about Real Estate
http://janav.wordpress.com/2014/08/03/real-estate-psychology/
SAM
Hi Subra
Sort scrolled through the article! Scary as hell and true too.. I too dream of owning a good real estate in Bombay ( my inlaws own a couple of houses).
I don’t think real estate in Bombay will come down anytime soon.. but when it does.. it will CRASH!! Especially IF any government roots out black money.. which is what RE in Bombay depends on.
Feel really bad for the middle classes like myself… Bombay is now city for only the really rich and really poor!
rohini
Hi Subra,
Wasn’t able to open the first link (scroll.in). Thank you for sharing the 2nd link. As always your write-ups have always hit the right pulse.
shrinivas
Like he said, they are selling dreams in Mumbai, just like the rest of India. Not only in housing, but in 2-wheelers, 4-wheelers etc.,
No Government will be able to root out corruption, it is only out of commissions and kick-backs the political parties thrive and are able to contest elections !
Anon
http://timesofindia.indiatimes.com/city/mumbai/Over-2-lakh-flats-remain-unsold-due-to-demand-supply-gap/articleshow/40939797.cms