Yoda-esque Posted April 10, 2013 Posted April 10, 2013 most of u nri people are fat..thats a big change :agree:
Lurker Posted April 10, 2013 Posted April 10, 2013 Do you know Ranchi well ? I remember, back in 1994, my first year back in India after graduating, me and my uncle were looking to buy property. Me being from Kolkata, i found a 2 bedroom apartment in Salt Lake city for 5.5 lakh rupees. My uncle at that time, based in Ranchi, bought a 2 bedroom apartment somewhere near Ranchi lake ( IIRC, its on lake road or nearby) for 2 lakh rupees. I know India has changed a lot in these 19 years but i wonder if these prices would seem laughable for Ranchi today. I know the Salt Lake city prices have already doubled. So roughly 1/2 the cost of a home in Calcutta, yeah that sounds about right. If you want to buy the same apartment today in Salt Lake city how much would it cost?
Muloghonto Posted April 10, 2013 Posted April 10, 2013 So roughly 1/2 the cost of a home in Calcutta, yeah that sounds about right. If you want to buy the same apartment today in Salt Lake city how much would it cost? About 10-15 lakhs if you were lucky. 1-3 lakhs more if you wernt so lucky and had to bribe the ministry officials to approve the transfer of ownership. I am guessing here though, because I havnt looked at property prices in India since 2003/2004. Back then my apartment would've sold for 9-10 lakhs, easily.
Lurker Posted April 10, 2013 Posted April 10, 2013 About 10-15 lakhs if you were lucky. 1-3 lakhs more if you wernt so lucky and had to bribe the ministry officials to approve the transfer of ownership. I am guessing here though' date=' because I havnt looked at property prices in India since 2003/2004. Back then my apartment would've sold for 9-10 lakhs, easily.[/quote'] I think you may be understating. You wont find a 2 bedroom flat in Ranchi (decent locality) these days less than 25-30 lakh today. 3 bedrooms would be 35-40 lakhs. I am guessing Calcutta may very well be 1.5 times, if not more.
Muloghonto Posted April 10, 2013 Posted April 10, 2013 Mumbai prices just make me :facepalm: I highly doubt there is a single person in ICF who would have the ability to buy a 1 bedroom apartment in Bandra or Juhu, nevermind in the more posh locales. Mumbai prices are nuts, it blew me away when i visited Mumbai for the first time in 99 and found my cousin's apartment costs the same per month in rent as mine in Seattle! Thank God her employer was paying the rent or else she'd have to spend like 150% of her income on rent! In Vancuover, we have a section of the North Vancouver city that is known as British Properties- its a big chunk of the city with estate-style villas and compounds located on beach front, with mountain as the backdrop. Just about the cheapest property there starts at 5 million dollars ( which would be a 2 bedroom rancher built in the 1920s) and averages about 25 million dollars. My buddy who runs a garbage disposal company once remarked that he drove up to this house in British properties that had a 100m long 'driveway' built out of jade. Jade! Now, i know jade is not the most expensive stone but 100m driveway of jade! Incidentally he remarked that the bunglow was a 8 bedroom replica of Victoria Memorial in Kolkata, which probably costs around 50-75 million for the whole property. Mumbai is just a city-sized version of British properties.
Lurker Posted April 10, 2013 Posted April 10, 2013 Mumbai prices just make me :facepalm: Holy baba tum to South Bombay mein ho, wehan to hoga hi? Move towards Vikhroli or Dombivali :--D
Muloghonto Posted April 10, 2013 Posted April 10, 2013 I think you may be understating. You wont find a 2 bedroom flat in Ranchi (decent locality) these days less than 25-30 lakh today. 3 bedrooms would be 35-40 lakhs. I am guessing Calcutta may very well be 1.5 times, if not more. :blink::ohmy::omg: Ok, it may be time for me to call my relatives in Kolkata and see if i can build a retirement fund out of this apartment. 10 times price increase in the last 20 years ? seriously ?
ganeshran Posted April 10, 2013 Posted April 10, 2013 Prices are going up in B-towns as well, especially those near the city. Back in 2005-06, the rates in Kanchipuram (a town ~70 km from chennai) were 200-250 rupees a square feet in residential areas. You could rent a 1300 sq ft house for Rs 1500. In less than 7 years the prices have gone up 6 times, land costs 1100-1200 Rs/sq ft. Chennai real estate prices are going up like crazy as well. A 2 BHK flat in Chrompet (16 kilometers outside the city) costs close to 60 lakh. within the city prices have breached a crore
vvvslaxman Posted April 10, 2013 Posted April 10, 2013 Ideal world My best friends from India, parents in USA living with me. If i could i would carry thalappakatti biriyani hotel and few more with me.
Magneto Posted April 10, 2013 Posted April 10, 2013 Prices are going up in B-towns as well, especially those near the city. Back in 2005-06, the rates in Kanchipuram (a town ~70 km from chennai) were 200-250 rupees a square feet in residential areas. You could rent a 1300 sq ft house for Rs 1500. In less than 7 years the prices have gone up 6 times, land costs 1100-1200 Rs/sq ft. Chennai real estate prices are going up like crazy as well. A 2 BHK flat in Chrompet (16 kilometers outside the city) costs close to 60 lakh. within the city prices have breached a crore Mumbai says 'hi' and :laugh:s It is insane in Mumbai and hope corrections happen soon.
Magneto Posted April 10, 2013 Posted April 10, 2013 :blink::ohmy::omg: Ok, it may be time for me to call my relatives in Kolkata and see if i can build a retirement fund out of this apartment. 10 times price increase in the last 20 years ? seriously ? I guess what was 5.5 in 1994 must be 35-40 now. Would be surprised if it is any less.
punjabi_khota Posted April 10, 2013 Posted April 10, 2013 Not everyone needs to buy a bada house man. Minimalism ftw :nice:. Rent karo aur move karo...faaltu saaman phenko har 2-3 saal mein.
Clarke Posted April 10, 2013 Posted April 10, 2013 :blink::ohmy::omg: Ok, it may be time for me to call my relatives in Kolkata and see if i can build a retirement fund out of this apartment. 10 times price increase in the last 20 years ? seriously ? That's an underestimate in some cases. The economy has grown around 8 times, population by more than 50%, crony capitalism has prevented corrections, no brand new cities and excellent urban planning (not!) have really pushed real estate prices to unreasonable levels. It remains to be seen just how long can large scale corruption continue to inflate these prices until $h1t hits the fan.
Crookbond Posted April 10, 2013 Posted April 10, 2013 Holy baba tum to South Bombay mein ho' date= wehan to hoga hi? Move towards Vikhroli or Dombivali :--D Wahaan ke bhi prices bahut zyaada hai - abhi hi check karke aaya hu. :((
Magneto Posted April 10, 2013 Posted April 10, 2013 Wahaan ke bhi prices bahut zyaada hai - abhi hi check karke aaya hu. :(( I just went to a Property Fair in Bandra a couple of months back and came back
Crookbond Posted April 10, 2013 Posted April 10, 2013 I just went to a Property Fair in Bandra a couple of months back and came back Bandra - :facepalm: Even my house in Mumbai has increased it's price 25 times in the last 20 years. :ohmy:
maniac Posted April 10, 2013 Posted April 10, 2013 I think the most reasonable prices for real estate in a big city afaik or heard is Bengaluru...Can any banglaoreans confirm that?I mean it's still expensive but given the big city but seems reasonable compared to other big cities. Even in Hyderabad real estate is sky high ....
Magneto Posted April 10, 2013 Posted April 10, 2013 Bandra - :facepalm: Even my house in Mumbai has increased it's price 25 times in the last 20 years. :ohmy: I meant the Property Fair was held in Bandra at the MMRDA grounds. :--D But the property rates in Mumbai, suburbs and all around were spectacular
maniac Posted April 10, 2013 Posted April 10, 2013 ^How are the property prices in the South of Mumbai? like Cuffe,Colaba etc.?I remember there was a huge influx of selling property in these areas and moving to Lokhandwala complexes in suburbs a few years back
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