tag:blogger.com,1999:blog-19740856.post1364043658317808001..comments2024-03-28T00:59:01.483-07:00Comments on India's housing bubble: Nasscom in denial modeUnknownnoreply@blogger.comBlogger16125tag:blogger.com,1999:blog-19740856.post-23361978592377363112009-05-02T15:53:00.000-07:002009-05-02T15:53:00.000-07:00http://www.dnaindia.com/report.asp?newsid=1252183<A>http://www.dnaindia.com/report.asp?newsid=1252183</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-34724441488291062472009-04-27T11:17:00.000-07:002009-04-27T11:17:00.000-07:00What is wrong for one country to act in its intere...What is wrong for one country to act in its interests? I fully support US decision to get out of WTO, NAFTA etc., if it is in the interest of Americans. India should not have dependency on USA and it should adjust itself. How will Indians feel if Bangladesh claims that its public are not welcomed in India or harassed in India. Who the fuck asked them to come here? I guess that is what you will think. Why can't US do the same? At least US is not asking its permanant residents or citizens of foreign origin to get out. It is just trying to restrict future immigration and is not actually a racist decision.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-88285893379809743602009-04-27T11:04:00.000-07:002009-04-27T11:04:00.000-07:00@ The Boss 10:14 AM
it is still irrational to say...@ The Boss 10:14 AM<br /><br /><I>it is still irrational to say that IT sector will be down in dumps and that would somehow hasten the real estate crash. </I>~ Ignorance more frequently begets confidence than does knowledge.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-91086691872992764872009-04-27T10:14:00.000-07:002009-04-27T10:14:00.000-07:00Nasscom is an industry lobby and they are there to...Nasscom is an industry lobby and they are there to pump up the prospects of IT sector. But even if we discount that, it is still irrational to say that IT sector will be down in dumps and that would somehow hasten the real estate crash. <br />So as far as IT sector is concerned, bears and NASSCOM are two sides of the same coin: irrational and exaggerated predictions about IT industry.<br /><br />http://rightadvice4u.blogspot.com/Musket Firehttps://www.blogger.com/profile/08152132663015479219noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-24846840718308996912009-04-27T09:29:00.000-07:002009-04-27T09:29:00.000-07:00Vik,
Thats your perception, Mumbai was never perc...Vik,<br /><br />Thats your perception, Mumbai was never perceived as an IT Hub, it was always Bangalore, Hyd, Gurgaon and now Pune. I still feel there is no city like Mumbai, which continues to pay more than 25% income tax, and it will continue to attract investments.<br /><br />I am very bullish and i repeat "50%increase in property prices im Mumbai in three years.<br /><br />Dont Time, Dont Time, Dont Time<br /><br />BTW will H1 visa problem increase outsourcing jobs in India? I dont know, can someone guide me on this.<br /><br />Kind Regards,<br /><br />Bindas BhaiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-10371097447406243432009-04-27T07:31:00.000-07:002009-04-27T07:31:00.000-07:00Most tech companies have opened sop outside mumbai...Most tech companies have opened sop outside mumbai. Before 2000, Mumbai was one of the top destinations for IT companies. <br />In 2009 we have<br /><br />Pune : Hinjewadi<br />Chennai : OMR and GST<br />Hyderabad : Gachibowli<br />Bangalore : Electronics City/Outer ring road/Hebbal<br />Delhi NCR - Noida/Gurgoan<br /><br />All these cities have 4x capacity then Mumbai.<br /><br />All that is left in Mumbai some IT companies in Seepz, some in Malad and others in Khoperhairane/Airoli Navi Mumbai area, not to mention overpriced Bandra Kurla complex area.<br /><br />Why would a CFO rent in BKC at 200 rs per sq/ft when he can rent for Rs 30s in Hinjewadi.<br /><br />I used to work in SEEPZ in the early 90's. I never understood why the Maharashtra govt never encouraged something on the lines of Bangalore.<br /><br />Now the city is paying the price. But Mumbai's loss is somebody else's gain. <br /><br />The charm of the Mumbai in the movies is long gone. All that is left is slums and the uber rich. The middle class has no place for themselves in MumbaiVikhttps://www.blogger.com/profile/14772111799029574023noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-41850519321775071572009-04-27T07:24:00.000-07:002009-04-27T07:24:00.000-07:00Keep pumping Bindas Bhai. Mumbai specially will fa...Keep pumping Bindas Bhai. Mumbai specially will fall easily 50%. Even after that it will be the most expensve city in the country. <br />If someone wants to become debtors for life like the poor Vidarbha farmer be my guest. Take a 11% loan, pay interest to the bank for the rest of your life to live in Mumbai. for others, they can move top Pune, Bangalore, Hyderabad, Chennai where real estate is 1/2 that of Mumbai.Vikhttps://www.blogger.com/profile/14772111799029574023noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-62275749498877963062009-04-27T05:37:00.000-07:002009-04-27T05:37:00.000-07:00"Mumbai will see minimum 50% increase in property ..."Mumbai will see minimum 50% increase in property prices in 3 years." Bindas Bhai ...go and buy more housing properties....<br /><br /><br /><br /><A HREF="http://www.livemint.com/2009/04/27145104/IT-services-may-see-over-one-l.html?h=A1" REL="nofollow">The Indian IT services sector may see up to one lakh job cuts</A>New Delhi: The Indian IT services sector may see up to 5% layoffs -- amounting to more than one lakh job cuts -- over the next six months as companies focus more on cost-cutting due to persisting weakness in global demand, experts say.<br /><br />Companies may reduce workforce in this fiscal, mostly based on stringent performance criteria, experts added.<br /><br />“We expect the knowledge industry (IT) to see 3-5% non-voluntary exits in the first two quarters of the financial year mainly in senior and middle levels,” Deloitte Touche Tohmatsu senior director (Management Consultancy Services) P. Thiruvengadam said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-49332703272471200012009-04-27T02:30:00.000-07:002009-04-27T02:30:00.000-07:00Typically in Mumbai the majority of flats sold dur...Typically in Mumbai the majority of flats sold during 98 was 1 BHK and even today you get the same around 40 Lakhs in most of the suburbs in Mumbai. I am quiet sure that a lot of people in Mumbai earn around 7 Lakhs PA, leave alone their spouses income.<br /><br />98 Dewan housing and other financial institute used to finance loan around 18%+. Today you get the same at half the rate.<br /><br />Mumbai will see minimum 50% increase in property prices in 3 years.<br /><br />Dont time, Dont time, Dont time.<br /><br />Bindas BhaiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-39217746910476318182009-04-27T02:23:00.000-07:002009-04-27T02:23:00.000-07:00Half of the bears will vanish from this blog if Co...Half of the bears will vanish from this blog if Congress comes back to Power.<br /><br />Wait n watch it can swing either side.<br /><br />Fingers crossed!!! :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-24087601509626107972009-04-27T02:22:00.000-07:002009-04-27T02:22:00.000-07:00not everyone is having 15L salary to buy 1 crore p...not everyone is having 15L salary to buy 1 crore properties at 6 times annual salary.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-74371086465817836152009-04-27T01:58:00.000-07:002009-04-27T01:58:00.000-07:00Priyank,
Prices have increased from 07 to 08 when...Priyank,<br /><br />Prices have increased from 07 to 08 when the astrologers over here predicted a fall.<br /><br />I think these guys knew about the US turmoil much to the surprise of Lehman brothers and Fed.<br /><br />Uncertainty and offcourse sentiments are down and hence no sale; prices will correct in areas only where there is excess supply or huge land bank. Builders who are in thick shit due to over trading will also reduce the price.<br /><br />As per the survey of a very reputed firm, Mumbai (does not include Thane , New Mumbai and beyond Borivali) has 35% unsold flats out of which less then 4% is ready and lying vacant.<br /><br />Now who on earth will reduce the price when the inventory for ready flats are so low. If the builder is having problem then he does Nirmal or HDIL style. Reduce the price say around 30 to 40% take cash and use for other projects. These guys are very hopeful that the markets will pick up if not now at least in 18 months.<br /><br />Most of the builders are not going for redevelopment of societies and it is just matter of time we will see scarcity of good product.<br /><br />As mentioned earlier in 98(after the crash) typically we needed over 22 years salary to buy a house but today it is less then 6 years. Today even our spouses are working.<br /><br />Mumbai will see minimum 50% increase in property prices in 3 years.<br /><br />Dont time, Dont time, Dont time.<br /><br />Bindas BhaiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-57831036587346392722009-04-27T01:00:00.000-07:002009-04-27T01:00:00.000-07:00Bindaas Bhai , are they 2 of them here ? one says ...Bindaas Bhai , are they 2 of them here ? one says buy buy, other says wait for correction !<br /><br />when GDP was at 9% in 2007 people were predicting falls because of the bubble factor, now the GDP is half of that, the fall is inevitable, of course if one is getting property at 30-40% discount from peak go for it, however in Mumbai most places have come down only 10-20% as of now..Priyanknoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-24381386405315658412009-04-26T23:34:00.000-07:002009-04-26T23:34:00.000-07:00In 2007 despite the GDP growing around 9% people o...In 2007 despite the GDP growing around 9% people over here had predicted a fall in RE.<br /><br />Now they use GDP numbers to convience us :-)<br /><br />Buy now if you can afford.<br /><br />Minumum 50% increase in three years.<br /><br />Dont time, dont time dont time. <br /><br /><br />Bindas BhaiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-906339682823419152009-04-26T15:10:00.000-07:002009-04-26T15:10:00.000-07:00H1B restriction is more of a political agenda than...H1B restriction is more of a political agenda than economic decision. It’s the same stance as reservations in India, to woo the voters.<br /><br />Global Balance<br /><br />US Fed Print Money => US Funds<br /><br />Fund Inflow<br />US Funds => Investment in Indian RE => IT Buyers <br /><br />Services Outflow<br />US Corporate <= IT Services <= IT workers <br /><br />If one will take out IT from the cycle then who will convert the fiat Money into real Money? <br /><br />In short run, the H1B restrictions will damage the IT companies & techies but in long run it’s much more damaging to US economy. In long run Indian RE will not receive any foreign funds, no speculations & no bubble.<br /><br />NOTE: U.S. is getting more returns in foreign investments, than the returns earned by foreigners in US investments. <br /><br />Vulture.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-23051825649429515832009-04-26T11:28:00.000-07:002009-04-26T11:28:00.000-07:00Gross Domestic Product
2007: GDP 9.3%
2008: GDP 7...Gross Domestic Product<br /><br />2007: GDP 9.3%<br />2008: GDP 7.3%<br />2009:<br />OECD (March): India GDP will grow at 4.3% for 2009.<br />IMF(APR) : India GDP will grow at 4.5% for 2009.<br />World Bank (March): India GDP will grow at 4% for 2009.<br /><br /><A HREF="http://www.tradingeconomics.com/Economics/GDP-Growth.aspx?Symbol=INR" REL="nofollow">GDP & growth Indicators</A>http://www.economist.com/COUNTRIES/<br />India/profile.cfm?folder=Profile-Economic%20Data<br /><br /><B>India's country rating vulnerable to further setbacks</B>“Expressing concern at the rapid deterioration of the fiscal situation in the country, global rating agency Moody's has said India's sovereign credit rating is vulnerable to further setbacks.”<br /><br />http://economictimes.indiatimes.com/<br />Economy/India-rating-vulnerable-to-setbacks/<br />articleshow/4451589.cms<br /><br />So guys let it fall then only pick up, minimum 50% price cut is guarantee.<br /><br />Vulture.Anonymousnoreply@blogger.com