Saturday, July 17, 2010

Yelahanka is the new Gurgaon

Back in 2001 I visited a farmhouse of on the outskirts of Bangalore in a god-forsake place called Yelahanka. The ORR was new laid out and devoid of traffic and any construction on either side of the road. Rewind forward to 2010 and a completely new Bangalore has taken shape. Already land prices in Devanhalli have reached meteoric proportions and Yelahanka has zoomed along with it.

The real estate hype masters tout Infosys and Wipro everywhere they want land prices to jump. Infosys is touted in Hyderabad, Chennai, Pune, Mohali, Sarjapur road (bangalore) and now Devanhalli. I guess we will see an Infy campus before 2020 however by then Infosys would be 500k strong so the 12000 people would make no sense :)

Another point of note which the author failed to notice is that Infosys is proposing to spend 710 crores to house 12,000 people however Wipro will spend 477 crores for 15,000 people. It looks as if Infosys comes out to be dumber then Wipro specially when it comes to calculating ratios, or it appears that the writer is a complete moron, and this time from Indian Express.

>> Indian Express reports
Where the six-lane highway from Bangalore city to the international airport in Devanahalli branches off to the left into Doddaballapur Road, a hoarding proclaims: “Yelahanka is the new Gurgaon”.

Put up by a residential builder, it is a defining marker in the growth curve of Yelahanka, a suburb 15 km north of the city that was envisaged as a satellite town but is now under the Bruhat Bengaluru Mahanagara Palike (BBMP). Proximity to the new airport — 20 km away — has given wings to aspirations in the once sleepy town that has seen a property boom in the last five-six years.

With the Karnataka Assembly passing a Bill last Thursday to set up a 10,000-acre Information Technology Investment Region (ITIR) north of Devanahalli, analysts say real estate in Yelahanka is all set to rain returns in a few years.

V Madhu, Principal Secretary, Infrastructure Development Department of Karnataka, says the entire Hebbal-Yelahanka-Devanahalli stretch will see “substantial development” in the coming years, fuelled by a mega project around the airport encompassing an aerospace park, a financial district and the IT park, where, among others, Infosys has proposed to invest Rs 710 crore in a 12,000-seat software development centre and Wipro is set to develop a Rs 477-crore centre employing 15,000.

74 comments:

Anonymous said...

Pump and Dump! Some guys have captured the land and are now in the process of suckering the greater fools!

I have a smile on my face as I watch the bubble grow bigger and bigger...surface tension will prevent the bubble from becoming bigger!

One day the bubble will pop and that's the day I laugh and laugh...Until then its funny but not worth more than a smile!

Anonymous said...

Yeah pyramid model of who the greater fool is like AMWAY. All those who invested for last 3 years or so on land from Nagawara circle/Hebbal lake until Devanahalli are in trouble. Specially the area after Yelahanka military airport to Devanahalli. The area will take at least 10 to 15 years to develop. Any investment is pure speculative with negative return.

Anonymous said...

Areas that are much closer to Bangalore and its infrastructure are already seeing overcapacity. Those fools from Brigade and Mantri are trying to sell matchbox size apartments in Malleshwaram for 80 lakhs for the last two years, but there are no takers. So much more supply exists in Sanjaynagar and Hebbal. Who the hell will go and live in "Yeh hai lanka". Raavan may be...

Anonymous said...

Being Bangalorean living in whitefield, Yelahanka, Devanahalli or Electronic city in not an option. It takes half a day for anyone to come over there. Wait wait wait is the only option. Do not want to buy tiny apartment for convenience. Market has to correct, that is the key. All those speculators who bought in a hurry will have to dump.

Anonymous said...

It is better to live in Singapore, US or Europe rather than outskirt of Bangalore.

Anonymous said...

Anon above:
It is better, safer and luxurious to live in US/Singapore rather than "anyplace in India."

Morons are building the bubble bigger and bigger. I'm just waiting with a drink to hear the loud noise of burst and many investors panicking. My day is coming soon.

Anonymous said...

karnataka is the most corrupt state in India and is ruled by Reddy brothers from Bellary. They are illegally mining, exporting to other countries and no one, including the karnataka courts have the guts to stop them. Those who investing in Bangalore real estate are not fools. They will get their profits as more and more prosperous people select bangalore as a place to settle. Rest of India is shit. Comparing bangalore to mumbai delhi etc is like trying to compare Taj intercontinental to to some roadside dhaba where people urinate and shit just outside in open.

Now, the locals in karnataka, happy with new found wealth do not realize the consequences of uncontrolled growth. Once problems start, believe me, those outsiders who settled in would regret and will be forced to leave. Kannadigas and Tamilians may look submissive but can turn into monsters when tide changes against them.

Anonymous said...

Anon above:
You are a big fool. You are talking nonsense. Indians are Indians, be it south or north. Do not try to use the language you used like an uneducated fool.

As regrds to prices, they will fall all across India by 50% or more.

samix said...

Some one posted in the previous post

"this blog is crap,
ive been reading it since 2007 .. and prices hav gone up 3 times since then. blah
should change the name from bubble to boom. "

The very fact that prices have gone up three times since then is the very proof that a bubble exists!

My dear friend it takes years or at times decades for a bubble to explode the US ponzi "our currency is backed by nothing more than a paper promise" bubble is now bursting after 30+ years.

Anonymous said...

'As regrds to prices, they will fall all across India by 50% or more' states the above post.

Everyone wishes it would but we all know that it is a wishful dream.

Desi Batman said...

This article mostly reflects about growth based on IT outsourcing sector.

Companies will move location with change in cost. Look at Mumbai, 10 years ago there were so many IT companies in Mumbai, today very few are left. With rising cost these few will soon be gone.

Talking about Bangalore or Chennai, these cities are thriving because of cheap start up cost, with RE and labor cost rising, days are not far that companies will move out. It may take 5 to 10 years. BUT IT WILL HAPPEN.

I know someone who has worked in several countries and is in senior management in MNC. He says work culture and ethics in Phillipines is far better than that in India.

http://www.trybpo.com/trend-watch-as-philippines-outsourcing-set-to-explode-in-2010/

http://blog.offshoring.com/bpo-and-offshoring/india-vs-the-philippines-where-is-the-future-of-outsourcing/

Desi Batman said...

@ Samix

"this blog is crap,
ive been reading it since 2007 .. and prices hav gone up 3 times since then. blah
should change the name from bubble to boom. "

Whoever wrote this, is crap. Either doesn't understand economics 101 and/or is in denial.

Bubble is actually identified as 'Bubble' only when there is burst.. until then it is 'boom'.

GeezerButler said...

If you calculate the per capita income to land rate ratio, even the Indian suburbs are one of the most expensive RE places in the world.
It's strange to see places like Paris, London, Los Angeles, Singapore being much cheaper than Indian subsuburbs (read the outskirts of suburbs of cities like Delhi, Mumbai)
If this ain't a bubble then I am James Bond.

Anonymous said...

Anon @ 8:18
"It is better to live in Singapore, US or Europe rather than outskirt of Bangalore. "

Very true. Please enjoy leaving in 600sq ft super build up apartment worth lacs and crores with your measly earnings of 6 figures in Rs. while I enjoy 3000 sq ft single family house with swimming pool at same price in USA with my 6 figures earnings in USD.

In my many years in USA,
* I have enjoyed drinking directly tap water without thinking of colera, malaria and now dengu.
* I never had water shortage.
* Never ever had electricity load shedding.
* Never had cops and officials harassing, infact we feel relieved on seeing cops.
* When travelling never have to worry about pee and loo. All exits on interstate or highway have clean restrooms.

Ofcouse we pay for this in terms of direct and indirect taxes. Nothing comes free.

But story is quite opposite. Only reason I would go back to India is my family.

Anonymous said...

Anon above:
Why not call your family to US?
They will also enjoy a better life.
But I think due to lack of social life, parents find it hard to adjust for longer periods.

Anonymous said...

I would love to call them to USA, but it is easily said than done.

It is always easy to settle anywhere in world if you have work and especially when you are young. Frankly speaking it becomes more difficult to adjust and restart life in older ages.

In any city in USA, one can find houses at cheap price to expensive one. Prices are very local unlike in Mumbai where prices of slums are almost same as posh localities. That said, in USA one can find USD 500K single family house and then 5 miles down you can have same size house for USD 250K.

Can this happen in Mumbai?

GeezerButler said...

@Anon 7:09
Living in USA might have its benefits but the USA's economic state is in a downward spiral. Out here in India at least people seem to be worried about inflation. In the US, people are living in complete denial. High unemployment, high inflation, high debts, failing war and the US folks just keep denying these ugly truths and keep on living in their dream world

Anonymous said...

Anon above:
If you look at your statements closely, it is the people in India living in denial. They are not worried about what is coming there. In the US, RE prices have adjusted based on economy. All this has to happen in India and Indians don't want to take any lesson because they think "we are different". A fall cannot happen in India.

As far as inflation is concerned in India, it is created by GOI. They can increase interest rates by 2-3% and get away with inflation. But they don't want to do it. They want the low income and middle class people to pay for the country's expenses, and make the rich richer.

Anonymous said...

@ GeezerButler 11:51 AM

Spot on! People in USA were in denial during illusion boom phase. They are paying the price. I am paying the price. Still quality of life is far better than living in India today.

At least in USA there is great deal of data availability of checking the authenticity of RE sales. You can check online (or you can also visit local county office) to check on price of house sold and bought. Also check on taxes paid. All transactions are in white. Jurisdiction is common for all rich class, middle class and poor class.

Finally, I came to USA because what it could offer me. Will move to India if it can offer me same or better than what I have. Can India offer me currently same or better lifestyle? Am I in denial? ;-)

Anonymous said...

I wish I wish RE in India would increase 3 times again in next 3 years. Just imagine, how cool would that be... 1 crores worth property today would sell for 3 crores! Many Indians will be rich and can then afford all luxuries of the world.

Every one will have atleast one crore worth RE. No more poverty in India. Only happiness everywhere.

As some said "be careful what you wish for as it might come true."

GeezerButler said...

@Anon 12:13
Well I am not sure. Nobody that I know really believes the hype of the 10% GDP growth. Nobody that I know really thinks that RE can go anywhere but down.
Maybe I don't know what's the real consensus in India but in the US, the general consensus seems to be that recession is over and its back to prosperity (even though all the numbers point otherwise)!

@Anon 12:51
It seems we agree on more than we disagree. Just one thing, the current lifestyle in US is a benefit of the past not of the present. I can't see the quality of life in US going anywhere but down.

Anonymous said...

@ GeezerButler 1:33 PM

So by USA quality of life going down, will the India's quality of life go up? I don't seem to get your point.

I was trying to link earnings to housing, in short affordability. Real estate prices in USA were out of sync with average earnings of individuals. Same is seen today in India.

If you feel quality of life in USA will be going down (hope not to extent to pee and poo in public), think about what will happen in India where quality is already pathetic (already pee and poo in public is increasing).

Anonymous said...

Yes you are right, quality of life goes down during recession and eventually shoots up during boom, it is a cycle. You and me cannot change it.

Anonymous said...

I have driven around the new airport & was amazed at the hundreds of layouts with thousands of sites, all empty! One point about North Bangalore which most speculators ignore is a lack of water. The Govt. doesn't have any plans of supplying water to all of these layouts and the groundwater has already depleted. In most areas, borewells are already at 1000 feet, and this is before any development has happened.

Anonymous said...

funny.. I wish someone visits Prestige Kensington, Prestige Wellington projects in Jalhalli.. hardly any takers for the project with occupancy as low as 10-15 %, and no takers for rentals.. even after almost 1 year from date of completion of project. There is lot of trouble with registration not even single apartment is registered.. corporation water still not available.. there are many apartments in Hebbal who ger water from tankers as no water is available in underground. also this adds to the cost. Purva Venezia .. completion is not in sight..God save public from these cheer leaders...

Desi Batman said...

India is basically based on gossips and rumors. It is difficult to find the truth and data.

All we hear is the builders quoting the RE price. We hear in news only about what happened and not what is planned. There are no follow up reports.

Where can I find the data of real sales that builders claim? I am sure there will be builder's code and regulations against building new development if basic neccessaties (minimum water, electric, safety and non-hazardous environment, roads, etc) are not met. Then we have no occupancy certificate, flats are difficult to register, other problems which a individual has to deal. Builders got their money and are off the hook.

Is this growth or cheating?

Anonymous said...

Cheating.

People in power are serving their own interests. Making money is a good thing but not by lying or at the cost of life long savings of masses in India. Very unethical behaviour.

Anonymous said...

Indian economy is not mature enough to have stable pricing, everything is driven by sentiment rather than hard facts.

Anonymous said...

Somebody said USA inflation is high. You are wrong it has been close to zero in the last 18 months. India inflation is atleast 20% if you include RE into inflation calculations. Moreover one idiot said that RE to increase 3 x in 3 years. think if all indians had crores, then who will wash your clothes, and clean your crap, nobody will want to work then and automatically all will be poor. so stop dreaming and think whats going to happen when interest rates go up. Dollar wil lbe Rs 60 and RE will go down 30-50%

Anonymous said...

@ Anon 7:48 AM
"Moreover one idiot said that RE to increase 3 x in 3 years. think if all indians had crores, then who will wash your clothes, and clean your crap, nobody will want to work then and automatically all will be poor. so stop dreaming and think whats going to happen when interest rates go up. Dollar wil lbe Rs 60 and RE will go down 30-50%"

That idiot would be me. Seems that didn't went well as a humor.

You are correct "if everyone is special no one is" If everyone has money the value of money decreases.

Anonymous said...

In USA everyone washes their own clothes and cleans their own crap.

In India .... you know what happens in India!!!!

Anonymous said...

All anons above, what is the deal comparing with USA all the time?
For a change, why don't compare with Pakistan, Russia, Somalia, there are freaking 140+ countries. What is the fascination with USA?

- One more anon..

Desi Batman said...

@ Anon 9:12
All anons above, what is the deal comparing with USA all the time?
For a change, why don't compare with Pakistan, Russia, Somalia, there are freaking 140+ countries. What is the fascination with USA?


USA publishes data, statistics and analysis of almost everything, other countries does not (including India). So many tend to take USA data and imply for India.

Also, many people in India think because of RE increases in India, they are new USA.

In reality there is no comparison between India and USA.

Even today USA falls in top 3 most productive countries.

http://finance.yahoo.com/career-work/article/109951/the-most-productive-nations-in-the-world?mod=career-leadership

Rahul said...

The problem in india is its culture and religion that condones/supports graft. Corrptyion runs in everybodys veins. Also slavery. Indians are extremely tyranical towards their subordinates but extremely submissive to their superiors if they happen to be white.

India has a vast pool of qualified manpower and western countries shop for this resource., like the way they used to do it in africa 200 years back. Now whatever development happening in India is due to the help rendered by west. They want Indians to study, do research and work for them. India is their labor pool where most obedient servants are groomed.

The increase in real estate prices are due to such indians investing the hoarded money and their greed wants to more money out of their investment.

what is happening is not bubble build up. India's growth is 8%, so expect 8% incease in prices every year.

Anonymous said...

@Rahul

How many years do you think it would take for prices to double @8% increase year on year?

Anonymous said...

One anon asked why you compare india with usa why not compare with other countries like somalia. If you are a rupee millionare you want to associate with other millionaires who want to be crorepatis, so you compare yourself to crorepatis and emulate their ways and standards so that one day you can become a crore pati. YOu do not want to associate and compare with beggars on the street. If you do so you will become a beggar. So it is good to compare with world class countries like USA, Japan, UK vs comparing yourself to Pakistan, Somalia and thinking that you are smarter than them...

Anonymous said...

Anon@8:18 PM compares USA lifestyle to India, and feels USA is superior.

According to anon@5:39 PM, you should compare with someone up your level, not below, else you are on path to become a beggar, beware Anon@8:18 PM......

Anonymous said...

http://www.worldsrichestcountries.com/

Interesting link. It is from April 2009. India is on par with Mexico for now. Will be a long time to catch up with China. My gut tells me that for long term India will remain a Mexico only. i.e. Slaves of the west

Anonymous said...

Govt 'gifts' almost Rs 300 cr to influential developer in land deal

http://timesofindia.indiatimes.com/city/mumbai/Govt-gifts-almost-Rs-300-cr-to-influential-developer-in-land-deal/articleshow/6193625.cms

Do you see a nexus between govt and builders ? Or is it the govt behind the scene in building industry

samix said...

In most of the areas in Mumbai, Politicians have themselves turned into developers.

So basically politicians have gifted the piece of land to themselves.

kannadiga said...

Bangalore is running out of water

http://www.dnaindia.com/bangalore/report_bangalore-is-running-out-of-water_1412598

Is it worth living in a city that suffers water shortage

Chief minister yeduvirappa is advising his colleagues and people of Bangalore to use tissue paper instead of washing their asses with water. This way he assumes that millions of gallons water can be saved and used for drinking. He has no answer as regards to the supply of tissue paper. What is the next step ? Avoid bath and dab oneself with perfume ?

The people are now paying the price for uncontrolled development

Anonymous said...

Re: http://www.worldsrichestcountries.com/

Mexico has much higher per capita income than India, some 8000$ per annum (USA $45000 PA, Russia $10,000 PA, China $4000 PA.

India is only $950 PA per capita.

Anonymous said...

@ Kannadiga 3:50 AM

Water shortage is because rain god is not keeping up with growth of India. Poor god, he needs to catch up with India's growth.

Also, who cares as long as RE increases in multiples of crores one can swim in perfume pool... that's what mentality is currently.

Desi Batman said...

What is best city to live in India, based on jobs, real estate, decent life style?

1. bombay
2. bangalore
3. chennai
4. new delhi
5. culcutta
6. hydrebad
7. other

Also have choice of living in USA or UK.

I need to make some decisions. Like to know what would be general opinion? and reasons.

samix said...

@Desi Batman, be a little bit wary of the west till they sort out their monetary crisis...

You don't want to go there and get stuck...

You can also try Middle East, if you want India type freedoms try all Middle East countries except Saudi..

I have heard that they are good pay masters

GeezerButler said...

@DesiBatman
Here's my experiences:
1. bombay - too expensive
3. chennai - huge communication gap problem. most people don't speak Hindi or English
4. new delhi - rapidly becoming too expensive
5. culcutta - slow and sleepy. total lack of professionalism

The city that I liked most was Pune. It was quite affordable, people were reasonable, nice weather etc.

About abroad, I'd stay away from US and UK right now. Their respective Dalal streets are bledding them dry.

Best options seem like Scandinavian countries, Switzerland, Germany

Desi Batman said...

Pune and Bangalore looks like better option for India. I just cannot afford to stay in Mumbai or Delhi with sky high real estate price unless I stay as 'joint family' with along with siblings family in cramped up apartment.

Was considering USA because of affordability. A modest pay in tier 2 cities gets good living including RE and lifestyle. e.g. on 50K USD salary (INR 25 Lakhs) one can afford rent of $800 to $1000(INR 40,000 to 55,000).

Anonymous said...

Bangalore without doubt is best - decent cosmopolital crowd, soft spoken, modern. They need to get Mumbai's taxis and autos though - and Delhi's roads

Vik said...

I would advise USA if you don't have any visa issues.

You have to mention your profession for others to answer more accuratelt

Desi Batman said...

@ Vik

I am skilled in IT and I have US work permit. Have visited abroad couple of times.

My experience says that India is good only if you have lots and lots of money and ready to exploit situations and manipulate people.

All the recent growth is because of western countries outsourcing their work.... that means there is lots of work still in western countries... then why not join their work force. anyways I will be working for them either in India or abroad.

Anonymous said...

@Desi Batman

US Workpermits aka H1Bs are no good as they are non immigrant visas.You would need a Greencard to be certain of a long term future in US. A typical desi IT guy would normally qualify only for the EB3 category and in that category it takes more than 15 years to qualify for a green card. You may try for countries with more certain immigration rules. UK used to be an attractive option. But now the rules are tightening here as well.

Anonymous said...

@Desi Batman

US Workpermits aka H1Bs are no good as they are non immigrant visas.You would need a Greencard to be certain of a long term future in US. A typical desi IT guy would normally qualify only for the EB3 category and in that category it takes more than 15 years to qualify for a green card. You may try for countries with more certain immigration rules. UK used to be an attractive option. But now the rules are tightening here as well.

Anonymous said...

@Desi:

USA is good but as Vik said, make sure you have proper visa. To get GC is not easy nowdays and would get difficult for the next decade as US will keep fighting unemployment and deflation for many-2 years to come.

Moreover, life in US is not easy. It is a constant struggle but you get rewarded. Taxes are high but you feel relieved to see the services. No stealing of money unlike India. People would just trust you on your words. Very good opportunities for higher education in case you want to change career. Overall good life. Kids also develop a lot and get ready for real life at a young age.

I also believe that if US slows, it will take down the growth in China and India. These countries cannot borrow forever. India will very likely not be able to hold good on their debt in the next few years and will get downgraded by rating agencies. All the growth in India is due to borrowed money. But this is borrowed and has to be returned. If debt to GDP ratio is not controlled, you are looking at another Greece.

Desi Batman said...

Thanks for feedbacks.

I feel USA is better option for me... will enjoy as long as party lasts. India option is always open.

RE prices in Mumbai and other metro cities make USA better option for me. Atleast will quality life.

Will wait for things to cool down in India with their ridiculous RE prices.

Vik said...

Desi Batman,

While the India option is open to you, the question again will be where in India ? After you have lived abroad for period you might lose a lot of patience with things in India. With a work permit getting good projects could be tough. People are able to find projects however they have to struggle for projects. Unless you take an intra company transfer with a US based company like Yahoo/Google/Amazon it will not be easy. Sure your day to day life will be better then in India, however your ability to save for the future will be limited.

Green card under EB3 will be a distinct dream. If you do have to come back, you could be more disheartened with environment then before you leave India specially if you have to deal with brokers and builders.

Again if you are young and time is on your side you have the ability to take risks. I would say do it now then later when parents age and you have more family obligations

Thambi said...

Desi Batman anne,

I am surprised that you are debating India vs US option. Why do you think Indians risk their life getting into USA walking through mexican desert, forged passports, hiding in containers, going as tourists and vanishing. Do you think such people are crazy. They are not. If you have an opportunity in USA take it. India is shit and will never improve.

Frankly, I wish i could be in your shoes. I've been trying to move to singapore but have failed umpteen times, but still trying.

Good luck anne

Anonymous said...

All those who praise or criticize both US and India are in some kind of delusion. Both have their own plus and minuses. If you lived in slum in India any place and any salary in US is heaven. If you already own a house before 2002 and have maids for everything incl. cooking cleaning etc India is heaven. Depends on what side you are. If you are on EB3 H1B and have contract job changing every 6 months with family and kids US is not so good option.

Anonymous said...

It seems like the real estate blog has suddenly turned into immigration advisory blog.

Anonymous said...

Real estate is not real any more in India, it is out of bounds for most of us who are workng in US. We probably need to go to mars to earn some kind of currency which is 50 times USD to buy one in India. Anyway other topic are more interesting and useful insted of unreal estate.

Ramandeep said...

@Anonymous 6:37 AM

If one is comfortable eating food sitting in a public toilet, then mumbai is the place for you. Of course, you will always get maids including underaged kids to cook food for you, wash your clothes and do sundry work. You reflect the mentality of a typical Indian who don't bat a eyelid while exploiting the poor. Probably you have never lived in west and do not know to respect other human beings.

The root cause of this phenomenal real estate price is corruption combined with the greed of Indians. It may take centuries to change this type of attitude. I'd rather live in west doing manual labor than be a millionaire exploiting people.
Imdian have been slaves for time immemorial and remain as slaves in the near future

Anonymous said...

Infrastructire is key, greed is everywhere. I sould have stayed away from CBD of Bangalore provided we have nice infrastructure and can mommute any corner in 30 min. People need not outbid few sales of flats/house/plots in Central business dictrict or close to it. Until that happen we can wait and watch or discuss other productive topics. Before Bangalore and other cities it was only Bombay for people from various parts of India. That is not true anymore, again infrastructure is key.

Anonymous said...

Ramdeep, Go and fight for their cause if you have so much concern, instead of running away and criticising others to other country. That is a cowardly act. Do not use foul language to communicate.

Desi Batman said...

atleast in usa i will be able to afford rent. rents in mumbai are also sky high. everybody is feeding on each other.

someone on blog mentioned about getting maid for cooking and cleaning... well, I have friends in USA who get have live in or live out nanny full time to not only help in cooking and cleaning but also to take care of kids.

also if all folks who are starting life after 2002 are screwed because of real estate and be prepared to be exploited by everyone on the name of roti, kapda and MAKAAN.

believe it or not, if there were no visa restrictions from many countries most of indians would choose to be away from india.

samix said...

@desi batman, I second you, if visa rules were free then I woudn't be here anymore too

Anonymous said...

Орон байрны үнийн хөөрөгдлөөс үүдэлтэй хямралаас бидний ухамсарлаагүй сургамж
Роберт Ж.Шиллер

Орон сууцны үнийн талаар маш их буруу ойлголт байдаг. Хаа сайгүй маш олон хүн дэлхийн эдийн засаг маш хурдацтай өсөн тэлж, ингэхийн хэрээр газрын нөөц багасч, байшин, орон сууцны үнэ эрчимтэй нэмэгдэн гэж үздэг шиг байгаа юм.
Чухамхүү энэ ташаа ойлголт нь хөрөнгө оруулалтын зорилгоор хүмүүс байшин авах гол сэдэл болдог бөгөөд цаашлаад үл хөдлөх хөрөнгийн үнийг хөөрөгдөхөд хүргэж, уг “хөөсөнцөр” задран өнөөгийн эдийн засгийн хямралд хүргэх нөхцөл болсон юм. Уг ташаа ойлголтоос болж байшин, хямралын дараа ч орон сууцны үнэ дахин хөөрөгдөж мэднэ. Одоо ч зарим хүн уналтад орсон эдийн засгийн орчинд байшин, орон сууц хямдхан худалдаж аваад хэд дахин өсгөхөөр төлөвлөж суугаа нь нууц биш.
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Фермийн зориулалттай ашигладаг газрыг хотын эдэлбэр газар болгон ашиглахад хуулийн зохицуулалтын хязгаар саад байдаг боловч хэрвээ эдийн засгийн сэдэл, ач холбогдол нь өсвөл алс хэтдээ түүнийг хялбархан шийдвэрлэж болно. Төр засгийн газрууд газрын хязгаарлалтаас болж иргэддээ боломжийн үнээр байр, орон сууц өгөх боломжгүй гэж тайлбарлах нь улам л бэрх болсоор байгаа.
Фермийн газрын үнэ хурдацтай өсөөгүй, өөрөөр хэлбэл, хөрөнгө оруулагчид их хэмжээний өгөөж гарна гэж үзээгүй байна. АНУ-ын хувьд л гэхэд хөдөө аж ахуйн зориулалтын газрын үнэ ХХ зууны туршид жилд 0.9 хувийн бодит өсөлттэй гарсан байна. Иймэрхүү газрын хувьд гол ашиг тус нь газрын үнийн өсөлтөөс бус харин түүний дээр явагдаж буй хөдөө аж ахуйн бизнесийн орлогоос бүрддэг аж.

Америкт шинэ зуунд гарсан тариалангийн газрын үнэ нь 2000-аад оны орон сууцны үнийн өсөлттэй давхцдаг бөгөөд Америкийн хөдөө аж ахуйн яамны мэдээгээр 2008 онд гэхэд нэг га тариалангийн газрын үнэ дундажаар 6800 ам. доллар байсан. Ийм талбайд хангалттай газ

Anonymous said...

Орон байрны үнийн хөөрөгдлөөс үүдэлтэй хямралаас бидний ухамсарлаагүй сургамж
Роберт Ж.Шиллер

Anonymous said...

If you have money you get super hot russian maids too.They do housework and "all other" work...really keep all tom ,DICK and harry happy..

Anonymous said...

anyone wanna buy a house near hebbal for 1 crore I am dumping mine. If I not see any response will - then feel Indians are still below prov line. ;-) just like the poor ambaionics after RIL crash. thanks

rahul jain said...

i agree with pravesh kumar comments that our good time for making profits in gurgaon property is over, its best to move to places where opportunities are not explored

bharat bhushan said...

gurgaon no more land of money, i invested in flat three years ago , my property rates remains same, interest paid is a loss for me as no rates increase, property dealers suggest different rates when you go to buy a house, when it comes to selling they say no market, keep away from property dealers

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rajni sharma said...
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HcoRealEstate said...
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